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Tech Vs Finance by candylips(m): 3:40pm On Dec 09, 2009 |
As an engineer, I wonder why is finance job better than a tech job. Sure the tech job pays, less but you have better work life balance, solve interesting or sometimes not so interesting problems etc Despite this engineers are still drawn to finance (myself included). Is it because we engineers are mislead by outrageous salaries and we arrogantly assume that we will be able to get those numbers, or is it because finance is seen as the center of power, where your job has a greater impact (for better or worse)? |
Re: Tech Vs Finance by jaybee3(m): 3:49pm On Dec 09, 2009 |
Finance is greatly overrated cos most of the platforms used to derive 'em figures are built by the engineers (tech guys) I think people are generally driven towards finance (IB) cos of better salary prospect and this is so because of the stress and longer hours involved. The question everyone should ask themselves is "should i go for money instead of good quality of working life" |
Re: Tech Vs Finance by candylips(m): 3:54pm On Dec 09, 2009 |
You are right jaybee. But even in IB's the tech guys are paid far far less than the guys in finance . This is something i still can't seem to figure out. Some engineers actually work more insane hours than people working in finance and still their salary is no where comparable. Why is there so much hype about finance when majority of these finance guys don't have a clue of the underlying technology built by the engineers? |
Re: Tech Vs Finance by jaybee3(m): 4:02pm On Dec 09, 2009 |
money money money dats the answer finance guys help make the company grow bigger bigger and even more bigger They help make the shareholders smiling They have the very shrewd/rare knowledge of what and when to invest in. As an engineer methinks the only way to compete is to invent something. James Dyson is just a common engineer like us but didn't accept the role of salaried worker. |
Re: Tech Vs Finance by jaybee3(m): 4:10pm On Dec 09, 2009 |
Obama on Tonight Show urges students to study engineering, not finance http://www.computerworld.com/s/article/9130129/Obama_on_i_Tonight_Show_i_urges_students_to_study_engineering_not_finance |
Re: Tech Vs Finance by candylips(m): 4:19pm On Dec 09, 2009 |
But surely as an engineer you make the shareholders smile with the technologies that was developed Obviously i think one of the problems we face as engineers is that we are not very visible so management or the shareholders sometimes don't see or get a feel of our contirbutions. This is particularly the case in Non-technical domains like banks (were obviously the money is). |
Re: Tech Vs Finance by jaybee3(m): 4:20pm On Dec 09, 2009 |
dat basically explains it. lack of visibility |
Re: Tech Vs Finance by candylips(m): 4:21pm On Dec 09, 2009 |
jay bee:America is in danger of loosing out as the most inventive country in the world because a lot more students there are increasingly studing courses like Law and Accounting |
Re: Tech Vs Finance by jaybee3(m): 4:27pm On Dec 09, 2009 |
u r definitely right about that and they are just very lucky that they have nuff institutions that enable technology evolution. They had still be the world most dominant economy come 2015 (read dis in evening standard yesterday) Look at it this way, they do borrow money from china but will most probably sell technology to her. |
Re: Tech Vs Finance by candylips(m): 4:28pm On Dec 09, 2009 |
jay bee: lack of visibility is not a problem in the technical sectors though. Infact most technological companies have highly technical people in management but the pay is just not comparable to a similar level in a non technical sector like a bank. Why can't engineers earn as high if not higher than finance guys. what is so special about finace? |
Re: Tech Vs Finance by jaybee3(m): 4:33pm On Dec 09, 2009 |
I actually disagree with above. Only the few finance guys that are lucky enough to work in big IB's can boast of the anomaly you are talking abt. Even at that the salary is not that disproportional. The bonuses are and that's always due to the number of deals they make for the company. Do you know some lawyers that work for IB's actually earn more than the analysts and wealth managers? My office is next to Slaughter & May and you should really come and see the kind of cars these guys drive et al |
Re: Tech Vs Finance by candylips(m): 4:39pm On Dec 09, 2009 |
jaybee yea i am actually talkin about finance people working in IB's . I am tryin to make out why they earn so much including bonus for doing probably nothing ( i stand to be corrected here) you are right about lawyers. Those dudes make an insane amount of money especially the elite ones. but the percentage of lawyers in that league is very small when compared to finance |
Re: Tech Vs Finance by tkb417(m): 4:56pm On Dec 09, 2009 |
build the tech, i sell the tech and who says we aint engineers? i engineer numbers and financial instruments to make life easy |
Re: Tech Vs Finance by jaybee3(m): 4:59pm On Dec 09, 2009 |
OK lets dissect it: You have the following; fund managers: Supposing one of the funds they are managing have managed to return a whopping increase of +40% value for the year then you'd expect them to get the million pound bonuses we hear about. Remember that some of these funds might be pension fund linked to nuff companies hence it being a high stake job and in return massive returns. Wealth managers: If i'm managing a millions for the royal family and the value of d investment keeps getting an enormous yearly percentage increase then surely i'd be expected to earn enormous bonuses. Hedge Fund Managers: These guys are usually the best brain in the business cos they know when to play the economy. Traders: Have u experienced the pressure of whatching stock prices move up and down. I have and during the time i was heavily trading i used to sleep 4hrs a day. I have to follow the asia market which opens at 12.01am, european market which opens at 8am, US markets which opens at 2.30pm Analysts: I hope you know all these bonuses are linked to performance targets and because the job being a high risk career will always require enormous incentives |
Re: Tech Vs Finance by olanajim(m): 11:45pm On Dec 09, 2009 |
True, To ENgineer is human! |
Re: Tech Vs Finance by netotse(m): 12:45pm On Dec 10, 2009 |
y'all know how to introduce doubts into a techs mind. . .lol |
Re: Tech Vs Finance by Bobsantana(m): 3:21pm On Dec 10, 2009 |
As an Electronics Engineer myself if its job satisfaction your are looking for you can't beat engineering but if its money then banking wins handsdown Iyobor |
Re: Tech Vs Finance by AjanleKoko: 4:24pm On Dec 14, 2009 |
Guys, Tech is worth nothing unless it is financially viable . Even bible talk am: 'money answereth all things'. I found it personally painful, cos I studied engineering, but finance, business and economics is the way to go. Engineering guys can solve all the complex problems, then they have to look for a finance guy to make the solutions profitable. |
Re: Tech Vs Finance by madeonline(m): 5:18pm On Dec 14, 2009 |
I have had the priviledge of tasting from both sides; tech and finance although at elementary levels. My view is that the higher u rise one either side the more important the other aspect becomes. A tech aspiring to climb the career ladder must be sound in finance and a finance person that wants to snad out tall must be a specialist in some form of techie financing eg project fiance experts, or contruction fiannce specialists are better valued than straight jacketed fiance professionals. |
Re: Tech Vs Finance by candylips(m): 5:48pm On Dec 14, 2009 |
So Why does finance pay so much more especially when you start getting into the higher levels compared to Tech/Engineering in non technical sector sectors like bank( although banking is increasingly becoming very technical these days ) |
Re: Tech Vs Finance by slimes(m): 9:27am On Dec 16, 2009 |
Just as not everyone can be a whizkid in Tech, the behavioural sciences doesn't welcome all Tom, Dick and Harry. There is a purpose for everyone, listen to your heart to hear the still voice. |
Re: Tech Vs Finance by AjanleKoko: 9:53am On Dec 16, 2009 |
candylips:Very simple. Tech becomes easier to manage at the higher levels. I assume you're referring to banking. The bank is run by finance people. They need technology to make their job easier. I suggest you move into a finance career before it's too late. |
Re: Tech Vs Finance by monex(m): 11:48am On Dec 16, 2009 |
well tech is not as easy to manage as u think o. IT infrastructure and organisation is one of the most complex systems to manage especially for one who has not had much technology background and experience |
Re: Tech Vs Finance by candylips(m): 2:53pm On Dec 16, 2009 |
AjanleKoko: Yes o i am seriously considering a move to finance . . but it might be something like an hybrid role btw engr and finance. I don't see myself leaving engineerin completely because it is in my blood and i don't see myself doing finance full-time becos it gets monotonous and boring |
Re: Tech Vs Finance by jaybee3(m): 3:02pm On Dec 16, 2009 |
^^^ Financial Engineering then lol u too like money |
Re: Tech Vs Finance by candylips(m): 3:07pm On Dec 16, 2009 |
^^ who no like money. financial engineering can be very technical and they don't make as much money as some MBA's |
Re: Tech Vs Finance by jaybee3(m): 3:08pm On Dec 16, 2009 |
dude, your best bet is Quants if u wanna av best of both worlds. |
Re: Tech Vs Finance by tkb417(m): 3:16pm On Dec 16, 2009 |
u cant have both its either ure an engineer or ure a financial analyst drop ur tools and get a TIBA II plus |
Re: Tech Vs Finance by netotse(m): 3:25pm On Dec 16, 2009 |
nobody here is talking about job satisfaction or making a difference, na wa o. . .abi is it because i never enter the market? cos my blood is still hot o, i no even gree apply for any jobs that are not in power not to talk of going to finance! |
Re: Tech Vs Finance by candylips(m): 3:25pm On Dec 16, 2009 |
@tbk Financial analysis is still low level finance Engineers are creating tools to automate these to the extent that the role is getting redundant these days. |
Re: Tech Vs Finance by candylips(m): 3:30pm On Dec 16, 2009 |
netotse: there is a lot of job satisfaction in either career path. but their comes a time in your career when u will be lookin at maximing the amount of money you can earn. My question was that why is it that a career in Finance almost always pays better than Tech/Engineering in the long run. |
Re: Tech Vs Finance by AjanleKoko: 4:24pm On Dec 16, 2009 |
candylips: It's a very old rap song, 1993 in fact. Terminator X featuring Whodini - 'It All Comes Down To Money' |
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