Banks scramble to fix old systems as IT 'cowboys' ride into sunset

Post by braveo » Tue, Apr 11, 2017, 12:43 PM UTC

chx wrote: post #72

StillBored wrote: post #53

$100 an hour, so $208k a year (assuming no time off), for a guy with 30+ years working on a critical system in an industry where floor traders can make 7-8 figures, and huge bonuses are paid to "analysts". I have plumber buddies that make more than that per hour (and with a crew can make more a year). That's why a couple years ago when I had access to a zseries, and was hearing about how "desperate" the banks were I…

Yeah that was odd, already back in 2009 I was making 135K as a PHP sr developer/architect so I am not sure why six figures is such a big deal. This sort of stuff needs to be six figures where the first is at least 2 if not 3. If we are talking of an agency, it needs to bill 500 an hour and hand over half of that.

Post by 0898 » Tue, Apr 11, 2017, 12:44 PM UTC

Post by mikehollinger » Tue, Apr 11, 2017, 12:45 PM UTC

z3t4 wrote: post #128

Joeri wrote: post #86

Earlier quoted context omitted.

> Companies never think of the old guys as the ones to implement the new system - that's a job for the "enterprise experts" Exactly this is why rewrites fail. The challenge of a rewrite is not in mapping the core architecture and core use case, it's mapping all the edge cases and covering all the end user needs. You need people intimately familiar with the old system to make sure the new system does all the weird stu…

all features and edge cases should have a test. if possible also have tests for all the bugs ever found in the old system. it helps if the tests are not too coupled with the code and are well documented. a test could be making an entry where deb and cred dont match. or trying to enter an extra decimal. and if the system adds two decimals corectly.

Post by eru » Tue, Apr 11, 2017, 12:47 PM UTC

user5994461 wrote: post #169

watwut wrote: post #145

Earlier quoted context omitted.

> Any of the new hires with talent quickly discover they can double their salary by doing pretty much anything else in IT and move on. Not necessary. They do not know current frameworks and tools and probably don't know the knowledge is transferable. Effectively, they need to find a company willing to train them and the one that hires by aptitude on whiteboard test only.

Yes. Very likely that they can't get a better job. As the previous comment said, they are trained from scratch having no experience in tech whatsoever and mainframe is not remarketable to a web company.

Post by gbersac » Tue, Apr 11, 2017, 12:49 PM UTC

user5994461 wrote: post #167

tajen wrote: post #115

Earlier quoted context omitted.

French banks are actually doing that! SG/Société Générale, a brick and mortar bank that costs a hundred dollars a year, built Boursorama, an e-bank that's free and that gives you $200 if you subscribe. Advantage: SG has too many manned agencies and can't justify preemptively mass-firing them yet – they first need the customer base to dwindle. Better IT, usage of Internet techniques at the core, and drastically simpli…

Boursorama is not a bank. It's a website to allow people to play on the financial markets ("bourse" = exchange). I think Americans would call that a sort of dealing account. Obviously, a dealing account has to hold funds and handle transfers. That's not any close to a consumer bank though.