Demand for Coding Skills in Banking Amidst the Rise of AI
In the shadow of the burgeoning threat posed by artificial intelligence, the demand for individuals proficient in coding remains robust within the banking sector. Certain programming languages, however, reign supreme in popularity.
An analysis of job postings from 13 leading investment banks reveals the languages most frequently sought after. While Python was identified as the predominant programming language across finance in September, it appears that many major banks have adopted SQL as their preferred choice.
SQL has ascended to the status of the quintessential language in finance, particularly for data analysis, utilized across a plethora of roles. Professionals such as data scientists, quantitative analysts, risk managers, and even investment bankers harness its capabilities.
Following SQL in popularity are Python and Java. As the most widely used language globally, Python encompasses a broad array of applications, ranging from data analysis to machine learning.
Conversely, Java maintains its historic significance within banking; roles associated with this language typically concern legacy systems or back-office technology. Nonetheless, exceptional Java developers specializing in low-latency coding can command substantial salaries.
Intriguingly, the recruitment landscape for technology roles in India surpasses that of both the United States and the United Kingdom combined, with approximately half of all Java-related positions being based in the subcontinent.
Notably, C++ roles, often regarded as some of the most lucrative in the tech arena, are disproportionately represented in Hong Kong and Singapore.
While approximately 10% of global banking positions involve C++, about a quarter of job listings in these Asian metropolises specify the language.
In our CV database, around 9% of tech candidates report C++ experience, leading to a 1.2 times higher incidence of C++ job postings relative to available candidates.
In stark contrast to the likes of Python, SQL, and Java—which boast extensive candidate pools—nearly 50% of applicants possess SQL expertise.
At virtually every bank surveyed, Java roles constituted 20% to 23% of total vacancies. More specialized programming languages exhibit a less uniform distribution.
For instance, the niche language Q enjoys greater prominence at Goldman Sachs, comprising 2.8% of job listings, while attracting only 1% at JPMorgan and a mere 0.5% at HSBC.
Source link: Efinancialcareers.com.
