You Now Need To Code To Work On Wall Street

Citi is not alone in the war for tech talent. Major banks, trading firms, hedge funds and other financial services firms are rapidly scooping up these professionals. One of the largest expenditures at the banks is technology. They are each spending upwards of $10 billion every year.

The executives see this investment as a cost savings. Since many of the tech people are placed in lower-cost U.S. cities and foreign countries, the banks save money on salaries, real estate and taxes. Artificial intelligence, robotics, sophisticated software and technology will ultimately replace large groups of employees—ranging from those who engage in rote tasks to experienced highly compensated human traders.

Over the summer, Goldman Sachs announced that the bank is hoping to recruit more than 100 engineers who will sit on the trading floor. Adam Korn, the co-head of engineering for Goldman's trading division, seeks coders, data scientists, engineers and others who can build better trading programs and help automate part of the bank’s trading business. Goldman is respected as the leader in trading-related activities on Wall Street.

When you take a look at the careers sections of the big banks, tech-related jobs dominate the listings. Also, a good number of jobs are located outside of New York City. The implementation of technology may be a large cost-savings for the financial institutions; many non-tech people will lose their jobs. As the Street swiftly moves in this direction, it will become increasingly harder for those who lack coding to find a new job.

The message is becoming crystal clear—if you want a job on Wall Street, you’ll need to heed Chavez’s advice and learn how to code.

Why work on WS, when you can own it?

FORTRAN 77 Lol

Assembler language.

In what language/framework?

People can’t even make change from a dollar.😄

No shit.

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