Big banks pay big bucks for tech and IT workers

 
Lynsey Barber
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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."

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