Posted by:Monica Samuel October 11th, 2011

Demand for IT professionals has gone up in finance and commerce industries in the first quarter of 2011, according to recruitment company Robert Walters. Though the demand does not equal the rate seen in the first quarter of 2010, it is way more than 2008 and 2009.

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More financial companies have started investing in front-desk systems and are on the lookout for people with strong domain knowledge, experience in handling high pressure situations common to the financial industry, and advanced programming skills to write secure code. Fast growth in the mobile space is also fueling demand for developers who can create mobile apps, especially for the iPhone.

A shaky economic environment post the recession is forcing companies to cut corners wherever possible and build a lean infrastructure that enables them to be economically agile. There is strong emphasis on support, infrastructure and networking expertise across industries, and experienced Java professionals fit right in.

As financial and commerce companies are pulling out of the economic crisis, they are looking at latest technologies and concepts for sustainability and long-term growth. mobile app for financial servicesEnterprises of today must look at cloud services, mobile broadband, and mobile devices and apps – this is the future direction. An increasing number of customers use their portable devices to carry out financial transactions. Financial enterprises including banks and commerce centers have to invest in the development of secure apps and communication to win customers’ trust.

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While the industry as a whole moves in this direction, enterprises, particularly finance and commerce, have to protect themselves and their customers from the biggest risk of all – cyber crime. Apart from the right hardware on their premises, security measures have to be implemented from the lowest rung of code development. This is where skilled programmers become the most important asset of organizations.

The recession has given rise to a number of small technology based startups that need skilled personnel on board and new media businesses that must have an IT infrastructure in place for efficient and quick results. While these spur the demand for IT professionals, the strongest push is coming from the huge growth in the mobile app space.

An analysis of pay hikes across the financial sector in 2011 reveals that IT staff received hikes of 3%-5% this year, with a greater part of their bonus provided via equities and stock options.

Jason Addicott, associate director of IT Recruitment at Robert Falters, is confident that IT recruitment will continue to increase in the later part of 2011 as there is corresponding growth in small enterprises, mobile devices, and cloud services adoption.

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