C++ contract roles in investment banks

[raphal]

I have not worked for an investment bank so far. Many lucrative contracts out there with IBs for C++ skills, paying at least £500/day (I keep applying, but never progressed to interview stage though). I would like to hear about the nature of work, expectations, stress levels involved working for an IB in a C++ role. Can any one share their experiences please.

[northernladuk]

I have not worked for an investment bank so far. Many lucrative contracts out there with IBs for C++ skills, paying at least £500/day (I keep applying, but never progressed to interview stage though). I would like to hear about the nature of work, expectations, stress levels involved working for an IB in a C++ role. Can any one share their experiences please.

Not knowing this is probably why you can't get to interview I am afraid.........

[BlasterBates]

Up until last year the market wasn't good, might be improving now though.

It's not necessarily more stressful or any different to any other type similar environmentwhich typically uses c++, but like any "domain", anyone who has been working in it will fit in and know how everything works, someone who's new will simply have to work their way in.

You might have to get a permie role first, or wait for the market to pick up.

I'm not convinced there's a bright future Barcap have recently announced yet another round of cuts. The exciting years seem to be over, though admittedly the rates are generally above average.

Keep trying if the market does pick up then they'll look beyond those who already have experience.

[edison]

I have not worked for an investment bank so far. Many lucrative contracts out there with IBs for C++ skills, paying at least £500/day (I keep applying, but never progressed to interview stage though). I would like to hear about the nature of work, expectations, stress levels involved working for an IB in a C++ role. Can any one share their experiences please.

How many job adverts have you read for investment banking jobs? Or even financial services? If you had done even a small amount of research you would have surely seen that practically every IB job asks for IB experience. Not only that but many jobs ask for specific product/service experience - equities, fixed income, derivatives etc. Until about 4-5 years ago I always harboured an aspiration to work in financial services but I can count on one hand the number of roles I've seen in the last 10 years that didn't demand FS experience.

Apart from the money, what else attracts you to the IB world? Have you considered other well paying sectors that might be more open to you? I had never worked in pharma until last year but have been contracting for a medium sized global pharma company right at the upper end of my rate range.

Maybe you should take off your rose tinted glasses - working in FS is not an easy ride or paved with gold...

[MyUserName]

I have worked in IBs for several years doing C++.

If you want a contract and do not have previous experience in an IB, basically, forget it. There are stacks of experienced people who will be competing with you.

I generally write trade capture systems: lots of users, race conditions, database in the background sometimes they interface with external systems. Basic, boring UI - lots of rules and double checks in the business layer etc.

I also write market data feeds: tiny, fiddly, using every trick in the book to push things faster.

The environments are not really any different to other companies. It is just software.

Do not forget that the high rates you see for IBs in London are going to be high because they are in London and not just because they are IBs. Although IBs do pay pretty well, mainly to compensate for the rather dull work.

[oliverson]

I'd look elsewhere.

Like you I wanted to chance my arm in the IB sector and started taking exams, etc, to get a foot in the door but I sacked them off because the subject matter was so boring I just couldn't focus on it. I did get in however, probably due to the fact my previous clients were retail banks and they probably saw me as 'one of them'. I've been in IB for 6 years now. Yes, the worst possible period. They say it's recovering now but I see no signs of that. Rates are down, opportunities are down with a push to offshore as much as possible. It's a pretty depressing environment. The work is generally very boring and unfulfilling and being sardined on a tube each day is a living hell.

Do I regret getting into IB? Nope, I'm glad I've done it because if I hadn't I'd always have been wondering. I'm now looking to get back out and onto something that doesn't involve working on displaying grid after grid of numbers. Yawn.

My advice to you is that you've missed the glory days, as did I. There's more to life than money.

[VectraMan]

My experience is that you won't get an interview unless you have IB experience. In fact it's doubtful an agent will call you back.

But I could have had a financial services permie job last year, but turned it down because it seemed so dull. But that could have been a way in long term if I'd stuck it out for a couple of years.

[MyUserName]

If it is just money you are after you might do better looking for other growing industries, like oil and gas (apparently they are doing well at the moment). Finance was a cash cow for years and it got flooded with people and is now shrinking. The shrinking market and massive amount of experienced competition make it virtually impossible to get into.

[d000hg]

Ironically, most of the finance stuff you'd be dealing with in FX, FI, etc is just basic maths. I was worried by it but it's just jargon you can find on Wikipedia.

[MyUserName]

Ironically, most of the finance stuff you'd be dealing with in FX, FI, etc is just basic maths. I was worried by it but it's just jargon you can find on Wikipedia.

Whilst this is not technically wrong it is only part of the issue. People expect to be able to say things like 'f82 in the 305 is wrong, we need to update the BICs to the extended format' to you without needing to explain it.

Being good at maths is not a bad thing, knowing some jargon will help but you will have competitors who have that but also have an understanding of the how the terms relate to the actual business etc.