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Programmers - Finance Industry

Zip Ped
Ranch Hand

Joined: Jul 26, 2005
Posts: 336
Hi,

I am currently working for a company which provides technical services to Government agencies.

I am interested in gaining IT experience in the Financial domain and looking for jobs in and around New York city. I did get an interview call for a Java Developer position with a Hedge Fund. The Hedge Fund was started in 2005, so they are new. I am not quite sure of what Hedge Funds are, or the kind of software development work they do.

So my question is, is it better to continue looking for a Java Developer position with some financial services company? Or should I try to pursue this opportunity as it might give me a break in the financial industry and maybe after gaining some experience, I can move on from there.

If any of the ranchers could advice me on what would be a better approach to get into the financial industry, it would be helpful.

Thanks,
Kailash
Mark Herschberg
Sheriff

Joined: Dec 04, 2000
Posts: 6037
The good news is the IT labor market in NYC is very hot right now. I know plenty of companies with lots of job openings.

Hedge funds basically invest priate money in the stock market. They use software to create trading models and for compliance requirements.

--Mark
Ali Hussain
Ranch Hand

Joined: Jun 19, 2005
Posts: 211
Introduction to Hedge (finance) has a quick intro about hedging.
[ February 02, 2007: Message edited by: Ali Hussain ]

- SCEA, SCJD, SCBCD, SCWCD, SCMAD, SCJP, ICAD (WebSphere), Lotus Principal CLP, Lotus CLP, Lotus CLS
Zip Ped
Ranch Hand

Joined: Jul 26, 2005
Posts: 336
Thanks Mark and Ali for the information. I did read up on some articles for Hedge Fund.

What my main concern however is the software development part in the financial industry. Most of the Java/J2EE jobs are for production support and extending the existing trading system the companies have already setup. I am not sure whether I should take up these opportunities or continue looking for firms which offer more than what I have mentioned above. If the IT market is good, I believe the ideal thing would be to continuing looking for jobs which offer work on the development front too.

Please let me know your view on this.
Henry Wong
author
Sheriff

Joined: Sep 28, 2004
Posts: 18542
    
  40

Originally posted by Kailash Thiyagarajan:
What my main concern however is the software development part in the financial industry. Most of the Java/J2EE jobs are for production support and extending the existing trading system the companies have already setup. I am not sure whether I should take up these opportunities or continue looking for firms which offer more than what I have mentioned above. If the IT market is good, I believe the ideal thing would be to continuing looking for jobs which offer work on the development front too.


I only partially agree with this. There *are* a ton of jobs related to maintanence, and updating existing systems.

However, there are also a lot of new development too. Some of the stuff, like risk management, program trading, analyst tools, are constantly in development -- and tend to developed in-house because they generally are considered IP.

Henry


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