Technology Analyst at Investment Banking Firm

College Majors Engineering Majors
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<p>Is the job of "technology analyst" for an investment banking firm the same as being an investment banker? I know that some investment banks hire engineers to be "technology analysts" and i was wondering if they receive the same high starting salaries as investment bankers.</p>

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<p>
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Is the job of "technology analyst" for an investment banking firm the same as being an investment banker?

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<p>If the investment bank division of the firm is hiring the "technology analyst" then you will be doing work similar to an investment banking analyst.</p>

<p><a href="http://www2.goldmansachs.com/careers/inside_goldman_sachs/business_snapshot/technology/articles/technology_051004121547.html%5B/url%5D"&gt;http://www2.goldmansachs.com/careers/inside_goldman_sachs/business_snapshot/technology/articles/technology_051004121547.html&lt;/a&gt;&lt;/p>

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For Technology Analysts, this means participating in a highly developed team approach to business, where you work alongside other technology specialists, as well as professionals in the field of investment banking. In this environment, you become involved in all stages of a project —- from inception through implementation. This hands-on approach allows you to gain experience in a wide variety of fields, thus giving you broad exposure to the way technology supports and is crucial to investment banking business strategies.

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<p>No you won't be red sox. "Technology analyst" means information technology. You'll be developing/administrating/supporting/maintaining software that the bank uses (as that description states).</p>

<p>If you want to work as an investment banker dealing with "technology" industries, then you're title would be "Investment Banking Division: Analyst, Technology Group" or something similar.</p>

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<p>I worded that wrong. I was trying to say that you would be involved in the type of work that an ibanker does. </p>

<p>Maybe I read it wrong though. I am referring to this portion of the quote,</p>

<p>
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In this environment, you become involved in all stages of a project —- from inception through implementation.

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</p>

<p>Yeah, I think I read this wrong. Your probably right. It is GS's fault. though. They are too vague here. ;)</p>

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<p>As a tech analyst you will most probably be doing one of these 3:
1 - software development (mainly CS, EE majors)
2 - translate business needs to software specs (tech major with some CS background)
3 - develop prediction models (Math, CS, Econ majors)</p>

<p>And no, they do not receive salaries as high as IB analysts. Their base salaries might match, but tech's don't get those huge bonuses.</p>

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<p>My S is finishing his second year I believe he'd be called technology analyst, or perhaps software engineer at NY ibank.</p>

<p>IBers make big bucks, or so I hear. But if you like technology, major in CS and/or IS (MIS) and have an interest in business, tech analyst at an ibank can be an exciting and lucrative job.</p>

<p>Actually bonuses in technology can be pretty high depending on your job and performance. Even first full year bonuses can be decent and put you over 100K your first year out of school (in addition S has spent several months in Europe and Asia); managers and VPs, in technology make very high salaries at top NY banks.</p>

<p>"It is GS's fault though. They are too vague here."... ha, definitely. GS is the king of vague. You won't see commercials for them; not even an identifying sign outside their buildings (not even in the lobbies either).</p>

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<p>Is it hard to get in with one of the top firms that pays the big bucks for something like this if you didn't go to an ivy league school? Or would you say based on your connections?</p>

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<p>If you look at the profiles of people in "Technology" on Goldman Sachs site, it looks like they recruit (or review applications from) a much wider array of schools for those positions. You still see places like Cambridge on there, but it doesn't look like it's nearly as exclusive. I guess the only real way to find out is to submit an application, though.</p>

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<p>this sounds like a really neat job, sorry to highjack, but how competitive are these types of jobs? Also, are there any other tech-type jobs that still involve business?</p>

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<p>california_love8, pretty much anything in IT (information technology). Pretty much any financial services firm will have a fairly extensive IT department - not all will have application developers like Goldman does, but you will be applying technical knowledge and problem solving skills to solve business problems in any IT job (in fact, many business schools offer MBA concentrations in information technology).</p>

<p>This might be of interest to you <a href="http://www.computerworld.com/action/article.do?command=viewArticleBasic&articleId=9024622%5B/url%5D"&gt;http://www.computerworld.com/action/article.do?command=viewArticleBasic&articleId=9024622&lt;/a&gt;&lt;/p>

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<p>well does anyone know how much these jobs in IT generally pay/what are the prereqs (as in what degrees are needed)? </p>

<p>Again, sorry OP if you feel like I'm highjacking, but I think you might be able to use some of this info also.</p>

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<p>For an IT manager, according to Salary.com, median total compensation (nationwide) is $147,000. Without benefits, it's about $102,000 base and $5-6,000 bonus. In New York City, where Goldman is (just to relate it back to the original thread), median total compensation is $171,000. Without benefits, about $120,000 base and $7,000 bonus. Of course, this is just the median - 50% evidently make more than that. In NYC, the 25th-75th percentile is $105,000-140,000 base, and 90th percentile is about $160,000.</p>

<p>Of course, this is a managerial position. According to Salary.com's description, this job title generally requires 5 years of experience and a bachelors degree:


</p>

<p>It's definitely at least comparable to typical engineering jobs - probably a little better compensated, even.</p>

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<p>I should say, that for starting out (Level I IT auditor), it looks like nationwide total median compensation is about $70,000, and $50,000 with just base and bonus (nationally - of course it'll be higher in places like NYC). Here is that job description:</p>

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<p>The next level, at least as documented by Salary.com, would be IT Supervisor, with median total compensation of $102,000, or $73,000 with just base and bonus (nationwide). </p>

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<p>For 8 years of experience, Salary.com says $150,000 with just base + bonus, $202,000 total. 10+ years of experience can net you "Chief IT Officer" or VP, Information Technology" and well over $200,000 median with base/bonus and ~$300,000 total compensation nationwide.</p>

<p>THis is all just from Salary.com, however. I'm sure you could find more extensive job descriptions and compensation information somewhere.</p>

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<p>salary.com is wrong! do not believe what they tell you. no company in the US pays $200k to someone with 8 year experience, unless you are really lucky (1 in 1 million). I think it takes about 10 years to become a supervisor and another 10 years to become a manager. An IT manager at a fortune 100 company gets about $100k-120k. An IT manager at a small company gets only about $70k-90k. Becoming an IT manager at a small company takes less time, but small companies pay much less. Becoming a CIO or VP in 18 years is almost impossible, unless you work at a small company, which of course pays much less. I'm not saying it is impossible to find a job that pays very well. I'm just saying it takes long time. You can be a manager only if there is a management position. And you still compete for that position. Ppl don't just give it to you. You need management experience.</p>

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<p>stay long and clear from MIS</p>

<p>MIS = idiot.</p>

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<p>goat4d, that depends completely on where you work and what you do. IT consulting is very lucrative, as is working IT at top companies (like Goldman Sachs). Sure, if you are an IT manager at a local elementary school you aren't going to be making very much money, but in businesses that rely on mission-critical software on a daily basis, they are willing to pay top dollar to know that software (and their network) are always up and running. That's also a reply to you, DCguy. I'm not talking about people that go to trade school or get CCNA certified, I'm talking about CS (or similar) majors who get hired in IT.</p>

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<p>The CCNA was one of the hardest certs I received, so don't downplay it. Most companies want engineerings, but they want the engineers to have what the IT guys have.</p>

<p>If you want to go into IT, its a pretty crazy job, because what you go to school for has nothing to do with the actual job. I have worked IT as high as merryl before, I know and have what it takes and I am getting a comp engineering degree. But then again I have alot of certs already on my hands.</p>

<p>And dont take folks who go to trade schools lightly, or even people who didn't graduate HS, ive met people who never graduated from HS making close to 300K a year, doing infosec.</p>

<p>All a College degree means is that you can read a book. Its the truth.</p>

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<p>goat4d, I agree 100%. I used to work in the IT industry (Verizon & sprint). IT is not about what you studied in school. When I got my BSEE, I thought I knew all about computers. nope. I had to learn everything again and it wasn't easy because they train you for 3 weeks and then they expect you to know everything. If you struggle and can't do the job right, they nicely show you the way to the door. My friend became a IT manager at Sprint. He got no degree, but he had CCNA. CCNP, MCSE, A+, net+, etc. He gets calls from the office even at midnight. He works at least 60 hrs/week. If you have a PHD and no experience, you can only work as entry-level IT guy. Or they don't even hire you because you over-qualify. It is nice to have a degree, but experience matters the most.</p>

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<p>The PhD with no experience would never want to work IT anyway. Two completely different worlds. You are talking about theoretical and design-oriented education vs. practical knowledge. </p>

<p>And I'm not downplaying people who attend and graduate from trade schools - they can (and do) do very well for themselves. But I'd definitely argue that you need to be able to do much more than read a book to graduate with an engineering (or similar) degree. In fact, I took the first half of the CCNA before realizing I had no interest in pursuing network administration as a career, and, unless my memory fails me, that was pretty much 100% about memorization (IE, being able to read the chapters online, remember it, and take the tests).</p>

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<p>Life is not simple. You can't do everything you want. Even if you graduated with the EE PHD, there is no guarantee you will become a professor or someone who does research everyday. If you can't find the job you want, what do you do? I didn't even know what CCNA was and didn't even care until I graduated. I had to eat. So I accepted the networking job. I don't do networking anymore though. I worked in the lab with the professor everyday when I was in college developing new microwave technology. What do I have now to show after graduation? 9-5 job.</p>