While tech companies have to scale back under the pressure in both public and private markets, traditional banks beef up their efforts to recruit both tech and non-tech talents.
Citi plans to hire 4,000 tech staff to digitalize its institutional clients’ experience. 1,000 of the new hires will join the market technology division.
CIBC pledges a raise in minimum wage to $20 in July and 3% raise for its workers in the six lowest levels. Other large Canadian banks have made similar moves in the high inflation/tight labor market.
Are the big and boring banks starting to be appealing again? That is what is indicated by the headline of this Washington Post article below.
Slow and boring vs. fast and furious - there is no easy choice.
It is always a balanced decision based on a career opportunity, financial terms, desired lifestyle, and the individual’s risk appetite.
Washington Post: Everyone Wants to Work for Big, Boring Companies Again