this post was submitted on 16 Jul 2023
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It would be interesting to know what roles the banks are filling with these newcomers.
You might be surprised how inefficient banks can be when it comes to tech. As years go by I see an increase of tech workers but a decrease of experienced or competent ones. My view is those competent tech workers tend to be more expensive than Canadian companies are willing to pay, thus end up hiring 10x the staff. The banks simply have more money to waste that way and thus are doing so by hiring a lot of tech workers.
The article doesn't provide enough context to say.
There is also the possibility that they're being swallowed into the great fintech pachinko machine.
... second only to the HR pachinko machine in terms of size and complexity?