Goldman Sachs came out on top in a ranking of the best IT departments in the financial services sector, as determined by a survey of 144 tech pros who work in that industry.
J.P. Morgan placed second, followed by Bloomberg. Renaissance Technologies and D.E. Shaw tied for fourth place in the survey, which was conducted by careers site eFinancialCareers.
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"These firms have strong reputations for being very competitive, and when you're very competitive, that means you invest. To get an edge on Wall Street, you invest in people and technology," says Constance Melrose, managing director of eFinancialCareers North America.
Among the reasons Goldman Sachs got the most votes are its reputation for top-notch IT people and quality processes, and the tech team's ability to "continually find new ways to realize their goals," Melrose says.
J.P. Morgan's tech department stood out for its exceptional process management and consistency in delivering big projects on-time and on-budget. Bloomberg rated highly for research and development effectiveness among IT pros.
Fourth-place finishers Renaissance Technologies and D.E. Shaw are both known for their quantitative skills and application of advanced modeling and cutting-edge trading technologies, according to Melrose.
"If I were to read between the lines a little bit, it's tech professionals giving high marks to people and places where the technology process is managed in such a way that you get results," Melrose says of the survey results. "What they do makes a difference to the firm's competitive edge."
On the job front, the market for IT pros in the financial services industry is healthy and growing, Melrose says. The number of tech-related jobs posted on eFinancialCareers is up 43% compared to a year ago, and August marked the 18th straight month of growth in tech-related postings.
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