This week's book giveaway is in the OCAJP 8 forum. We're giving away four copies of OCA Java SE 8 Programmer I Study Guide and have Edward Finegan & Robert Liguori on-line! See this thread for details.
I understand it is difficult for a java developer to get a job in a financial institution without financial background. Can someone recommend a good book which covers most financial basics for a java developer?
That is not unlike asking "what is a good software book"? The answer really depends on what tchnology you're going to us and for what purpose? Java Servlets for web development? C for microcontrollers?
You can find books on fixed income, general securities, market structures, clearing, compliance, etc.
I didn't find it hard. But back then, the city I live in was one of the major regional centers for banking and insurance, so to get a computer job at all, you almost had to get a financial job. These days the banks and insurance companies pretty much ate each other up and left town, but the mortgage industry seems to be one of the primary financial industries around here now.
Really, aside from being aware that Java has no native data type that will represent $0.01 with exactitude (probably why COBOL still hangs on), the major thing you need to know is finance itself - starting with how your checkbook works, moving up to basic accounting and auditing principles, then diverging into your specialty of choice.
An IDE is no substitute for an Intelligent Developer.
Joined: Jun 26, 2001
Thank you both, Mark and Tim,
Few years ago, financial background was not even a requirement.... The thing is I want to get a job as a J2EE developer at a financial instituation. But you got to know some financial stuff even for an interview. So I want to learn some financial basics myself but don't know where to start. Can't go to school right now so I thought a good book would help.
U are right. But actually some employer does not really care so much about your financial background. Though it definitely helps if u have. Somebody refers John Hull's book about Options Future and Derivatives to me before. It is pretty tough book. And expensive. I did not have time to read it yet. Not sure if it is good for beginner.
Hull's book assumes that you are really fluent in higher math. However, the first few chapters are a good introduction to the mathematics of fixed income and derivatives. Your library may have a copy.
You have to decide whether you want to learn front office (trading desk support, which involves constantly changing valuation models) or back office support, which is a highly specialized kind of bookkeeping. Keep in mind that most of these jobs want experience, not just j2ee experience but experience in their type of trading and often in their specific application packages. Be sure there is a market before you spend months qualifying.
The good news is that this may be the last of the big money IT areas. The bad news is that you really earn it.