Is Switching from Banking to Retail Projects Worth It After 4 Years in Investment Banking?

Greetings, everybody,

I have 4 years of experience as an Oracle PL/SQL developer in the investment banking domain. Last month, I moved to a new company. In the new company, they are forcing me to work on retail domain projects (not even on retail banking). They are not ready to give me a banking project.

Can anybody please advise me on whether it's really worth changing the domain after gaining a good amount of knowledge in the banking domain? Should I look for other companies that are in financial services?

I will sincerely appreciate your advice.

Looking forward to it.

Thank you,
Latha

Dear Latha,

Congratulations on your new job. First, let me tell you to kindly stop worrying.

Second, I would like to ask you, what are your career plans? Do you want to work only in banking projects, or are you ready for a change to do other projects? Analyze this. Since you already have 4 years of experience in another domain, why don't you try working on non-banking projects? I'm sure this will help you increase your knowledge and also be an added feather in your career cap. It is going to be the biggest challenge for you. Life is all about learning. I wish you all the best.

Regards, Prabhu

Hi Latha,

The only thing you have to do is read the contract agreement between your new company and yourself, or remind yourself of the interview process or the project briefing you were provided.

Please note that if the new company had promised you a banking-oriented job profile and is now forcing you to work on some other project, then you must leave the company as soon as possible. I am sure your skills are highly sought after in the market nowadays. With a bit of hard work, you might be able to join a good firm.

The second solution is to wait it out, speak to the management or your line manager, and discuss with them the issues. They might not be aware of the problem you are facing.

Retail projects have a very short shelf life in the current industry. You find a lot of customizable software solutions, and big players are in the market, while the banking industry is here to stay. They need constant changes, and hence, your skills and experience will always be required.

My advice would be to wait out for a couple of months and keep looking for a banking domain job at the same time. Seize the first chance you get to shift.

DO IT.

Regards,

AJ

Hi AJ,

Thank you for the advice. I asked Management to give me a banking project, but they are too rigid to release me from the Retail Business Unit. The company I joined was Infosys, one and a half months ago. I did try, and I'm trying for new jobs. I got an offer from HCL to work for Deutsche Bank on Investment Banking. Should I go for it?

Thanks once again for your time.

Regards,
Latha

Hi Latha,

I would suggest you take that option, considering your experience in the banking sector. The job would be much easier for you, and you would also enjoy doing it. Have a good day ahead.

Regards,
AJ

Hi AJ,

Thank you very much for helping me come to a decision. One more question has come to mind as a result of this experience. Could you please explain to me how I can leverage the domain knowledge I have acquired, in addition to my technical skills, in the coming future, perhaps in the next three to five years?

I appreciate your time and kind consideration.

Looking forward to your reply.

Thanks and Regards,
Latha

Hi AJ,

Could you please tell me about the prospects and benefits of being in one domain?

Thanks for your help. Looking forward to your response.

Regards,
Latha

Hi Latha,

There are two options when you start a career: being completely immersed in one domain and updating yourself in the same domain, or being a jack of all trades. Since your domain is a part of a growing industry and is probably one of the most required in developing or developed countries, I am sure it will help you in gaining specialization in the same. However, along with specializing, you will also need to update yourself on some other solutions pertaining to your domain. Also, try not to be stuck with a single firm.

Thanks & Regards,
AJ