Big banks pay big bucks for tech and IT workers

Lynsey Barber
Follow Lynsey
Banks are paying more than other sectors for tech skills

Big banks are paying big bucks for tech workers, offering more than technology, telecoms or media firms for the in-demand expertise.

IT workers are earning over half as much more at banking and financial services firms and more than twice as much as a contractor.

The daily rate for developers working full time is £300 in banking, compared to just £190 elsewhere. For temporary workers that jumped to £650, and compared with £400 in other lines of business.

"Forget about banks being involved in a tug of war for traders or M&A executives, the IT developer is the new hot property," said Alice Leguay, co-founder and chief operating officer of salary comparison site Emolument, which collected the figures.

"As IT moves from a support function to a key centre of product and business development, banks worry more and more about paying their IT staff - both permanent and contracting - accurately, which is proving a difficult exercise especially with contractors who have wildly fluctuating day rates."

Related articles