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Banks cast out the .NET net

Australia’s major trading and investment banks are actively recruiting for IT developers with Microsoft .NET expertise as they progressively upgrade their technology systems.

Developers with .NET credentials are in big demand for contract and permanent roles, with activity being driven from within organisations including Citigroup, Commonwealth Bank, National Australia Bank, ANZ, Macquarie Bank, JP Morgan and Deutsche Bank.

Average base packages are up to AU$120k, with many positions also including performance bonuses.

“There’s a high demand for .NET experience,” says Marcus White of Human Solutions Group. “A lot of the larger banks have gone from their legacy systems and bolted on with a new development on top. They are moving or have been moving towards .NET over the last few years, and most of the new architecture is .NET version 2.0. They’re just finding it’s an easier language to develop in and it gives them more response time as well.”

A typical .NET role requires candidates to be experienced in developing numerical libraries in C# and C++ and in creating .NET front ends for these libraries, so they can be easily integrated into the bank’s back-end database systems. These roles work closely with the quantitative analysts and researchers in the IT teams, which are also in strong demand.

“We are looking for quite a few .NET roles,” says Shane Lloyd of Carmichael Fisher. “With any bank you have to be very proactive about development to keep things moving. There will be a continued requirement and need for .NET roles, but the technology environment is very fluid and what was fantastic technology five or six years ago will eventually need to move on.”

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