Discover your dream Career
For Recruiters

Quants are confident their jobs are safe... technologists (mostly) too

2023 was a year marred with layoffs, and technology divisions were no exception. However, on the whole, developers are confident that they'll be keeping their jobs; as part of our bonus expectations survey, we asked if respondents feared for their job security and only 31.3% of technologists said yes.

Engineers have faith in their hard skills. One Goldman Sachs VP says "technology is still in demand," while another says "many potential employers" are interested in him due to his "desirable skills." A tech director in a US bank also says he's not worried because "I'm the best here at what I do."

Still, there are clearly some people worried about the future; the most often cited cause for fear was "news of cuts happening [last] quarter," from those in the cutting companies like Citi and outside them. Senior engineers in both Paris and London have said that their employers "need to reduce costs."

Quants, contrastingly, are a lot more confident: just 22.5% of respondents in that sector feared for their job security. For some this is because they're newer hires, while a quant director at one bank says "in the short term at least, I think my role is strategically important."

While not worried about their current jobs, some quants and technologists have instead shifted their focus to new ones. One female engineering VP is looking for "a change of environment," while a quant looking for a buy side switch says it's because "quants are heavily underpaid compared to sales and trading on the sell side."

Click here to create a profile on eFinancialCareers. Make yourself visible to recruiters hiring for top jobs in technology and finance.

Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Click here to fill in our anonymous form, or email editortips@efinancialcareers.com. Signal also available.

Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

author-card-avatar
AUTHORAlex McMurray Editor

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Recommended Articles
Recommended Jobs
Paritas Recruitment - Data & Tech
Quantitative Researcher (Systematic Fund)
Paritas Recruitment - Data & Tech
London, United Kingdom
DTG Capital Markets
Quantitative Trader/Portfolio Manager - mid/low freq EQ
DTG Capital Markets
New York, United States
ParagonAlpha
Quant Developer - Macro Hedge Fund - Equities Pod
ParagonAlpha
New York, United States

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.