Technology has created amazing tools and resources, putting useful information at our fingertips and changing the pace of businesses and creating the opportunity for them to be accessible to their customers all day, every day. In the financial services and banking sector, systems have become dependent on many different types of software to run their day to day activities. This dependence on the latest technology has made way for highly technical and specialist professionals with expertise in new-age technologies. In short, the banking system would not function without the work of computer engineers.
The Role of the Computer Programmer in Banking
Technological development in the banking and finance sector is particularly fast-paced and its application has touched almost every aspect of business operation within organisations as well as the wider system within which banks function. Computer programmers are necessary for the implementation and maintenance of the structure of systems, but perhaps most challenging is the need to stay abreast of developing technology.
The Skills in Demand
We have compiled for you a list of the highest paying programming languages in 2019 based on various studies and statistics, the knowledge of which will help you to make good money both now and in the coming years. According to Developer Survey Results 2019, a survey conducted by Stack Overflow, the following programming languages are synonymous with high wages (global data):
Java is actively used to create both server and mobile apps and is also the main tool for developing native apps for Android.
C# is used for developing plenty of diverse apps: from small desktop programs to large web portals and web services that serve millions of users every day. The one positive is that the market isn’t flooded with C# experts. The downside is there are still 2.5 open positions that mention Java for every one that includes C#. Less competition yet fewer available jobs.
Python appears in the second largest number of tech postings, though roughly 5k more CVs in our database feature the word Python than Java. Python is one of the most powerful programming languages: it is used for mathematical calculations, data analysis, web development, machine learning, and task automation. It was used for developing such apps as YouTube, Dropbox, Reddit, and Google.
The Objective-C programming language is used to develop apps in the Apple ecosystem: for Mac OS X and iOS. Despite the emergence of a new programming language called Swift, the Objective-C language is still a popular choice among developers.
The backbone for many banks’ legacy systems, C++ is progressively losing its popularity among younger programmers. That said, it has enjoyed a small renaissance of sorts due to the need for processing large swaths of data for high-frequency trading. Like C#, there are almost three open positions that mention Java and Python for every one that lists C++ as a required or desired skill. In short, it’s popularity is waning at banks and hedge funds yet C++ is still an extremely common skill among programmers, leaving specialists with little leverage.
With an average payment level of about $110,000 per year, the Go programming language deservedly tops our list. It was developed by Google and introduced in November 2009. Being an open-source platform, it is actively used for projects within the corporation and several well-known world-class services (SoundCloud, Netflix, Dropbox).
It gained the utmost popularity as a tool for developing Web apps, and it was used for developing the server part of many popular worldwide services. You can often meet it in all sorts of ratings and lists with recommendations for studying.
Swift – the main language for developing apps for macOS, iOS, watchOS, and tvOS. This is a universal programming language for working with Apple products, which was developed not so long ago in 2014.
The programming language Kotlin developed by the IT-company JetBrains has become the official development language for Android. This was officially announced at the Google I/O conference in 2017.
Speed of Technology Adoption in Banking
Banks are also driving new technology initiatives across cloud, AWS, big data, machine learning and artificial intelligence platforms, and whilst the technology itself is evolving quickly, adoption in this sector is historically slower than other sectors. The migration of billion-dollar legacy applications is time consuming and expensive so transition periods can be protracted. The highly regulated nature of financial services is also a factor that may impact the speed of adoption as governments and industry bodies continually refine compliance requirements to protect digital transactions.
How to Secure the Best Computer Programming Jobs in the Banking Sector
In any technology role, staying up to date in terms of knowledge, experience, and accreditations is the best way to have access to the best-paying jobs. Cloud technologies, big data and AWS are the new areas programmers will need expertise in to secure the best banking roles.
FinTech companies and banks usually prefer candidates with an engineering background in computer science followed by electronics and electrical from leading educational institutions. Being acquainted with new-age technologies will help professionals of all levels have a greater chance of being recruited into the best jobs.
Tailoring past learning goals to current technological trends is one great way to advance a career. At Aquis Search, we always advise all technology professionals to make themselves more marketable by not overlooking the importance of honing their fundamental understanding of computer science and by demonstrating emphatically their capacity to keep learning new things.
Ultimately, that’s the foundation every computer programmer needs to successfully navigate a changing technology landscape in the banking sector this year and beyond.