FinTech Futures Jobs: Are you paying a loyalty tax at work?
You’re probably familiar with the idea of a loyalty tax: you get a great offer through the door or into your inbox from your TV or electricity service provider offering you a preferred rate, but when you investigate, it turns out that it’s only available to new subscribers.
Then your bank does something similar: it offers a better interest rate to new customers or cashback incentives that you, as a loyal customer, are locked out of.
In fact, you probably switched to your energy, mobile, broadband, mortgage, savings, credit card or insurance provider based on a really great offer they advertised in the first place, and they are now rewarding you by quietly upping your premiums or monthly charges.
The same thing can happen with your job. You’ve been happily working away for your employer, relatively content with your compensation, until someone is hired into your team at the same level, with the same experience and who is doing the same job as you only it turns out that they are being paid significantly more money or receiving better compensation in other areas – premium benefits, bonuses or stock options, for example.
It’s not an uncommon problem and it is being made worse by the current talent squeeze, especially within the tech sector where high-demand roles such as software developers and DevOps and data scientists, for example, are proving so tricky to fill due to a lack of available candidates. As a result, “the battle for talent” has emerged, and recruiters are offering ever increasing sums to in-demand employees to tempt them to take up open roles.
In companies where there are no formal pay structures or salary scales – often true of tech start-ups and scale-ups – this is leading to large disparities between what existing workers and new employees are being paid. According to the 2022 Job Seeker Nation Report from Employ, just 37% of workers believe they’re paid fairly, and nearly half believe they can earn more money by switching jobs.
If you’re on the same page, then the FinTech Futures Job Board is a great starting point, with thousands of open roles to browse. And we’ve hand-picked three roles to check out below too.
Senior Salesforce Developer, PayPal
The role: As a Senior Salesforce Developer, you will be required to design, develop and provide leadership and support of the Salesforce CRM and sales technology portfolio to PayPal’s business.
The responsibilities: You must be hands-on and have proven experience in developing and enhancing Salesforce and sales technologies in a global environment.
The requirements: More than seven years’ experience working as a Salesforce developer is required and you’ll also need Salesforce Certified Platform Developer I and II certifications. Experience with AppExchange and other tools like Apttus, Quip, LeanData, Outreach, DocuSign and Gainsight are desired.
Site Reliability Engineer, Allica Bank
The role: As a Site Reliability Engineer, you will install, maintain, upgrade and continuously improve the bank’s platform environments while maintaining the reliability and performance of the IT infrastructure.
The responsibilities: You’ll be ensuring that configuration of all Linux platforms (Ubuntu) meets best practices as well as assisting the architecture team with configurations as part of design.
The requirements: You should be familiar with working with Linux (preferably Ubuntu) platforms and be experienced in implementing cloud solutions (Microsoft Azure strongly desired). Experience of Ansible to automate configuration and patching is also required.
The role: A Front-end Engineer at Thought Machine is responsible for the development of web and mobile apps. You’ll develop the apps bank customers use to do their day-to-day banking, as well as the apps that banking staff use to operate the bank.
The responsibilities: You will be working on some of the most exciting and innovative apps in fintech as Thought Machine pushes to revolutionise the industry. Day-to-day you will be working on a variety of challenging and interesting projects using some of the most cutting-edge open source frameworks.
About the author:
Kirstie works for our job board partner, Jobbio.
Based in Dublin, she has been a writer and editor across print and digital platforms for over 15 years.