Do you pay loyalty tax at work?

by James · July 3, 2022

You are probably familiar with the idea of a loyalty tax: you get a great deal through the door or into your inbox from your TV or streaming provider and offer you a preferred price, but when you research it, it turns out that it is only available to new subscribers.

Click on the image to see all vacancies on the FinTech Futures Jobs portal

Then your bank does something similar: it gives a better interest rate to new customers or cashback incentives from which you as a loyal customer are excluded.

In fact, you have probably switched to the provider of energy, mobile, broadband, mortgage, savings, credit card or insurance based on a really great offer they initially advertised, and they now reward you by setting up the premiums or monthly fees.

The same can happen with your job. You have happily worked away for your employer, relatively happy with your salary, until someone is hired in your team at the same level, with the same experience and who does the same job as you, only it turns out that they are paid significantly more money or get better compensation in other areas – such as premium benefits, bonuses or stock options.

This is not an uncommon problem, and it is exacerbated by the current talent squeeze, especially in the technology sector where high demand roles such as software developers and DevOps and computer scientists, for example, are proving to be so difficult to fill due to 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 entice them to take on open roles.

In companies where there are no formal wage structures or wage scales – often applicable to technology start-ups and upscaling – this leads to large differences between what existing employees and new employees are paid. According to the 2022 Job Seeker Nation Report from Employ, only 37% of workers believe they get paid fairly, and almost half believe they can make more money by changing jobs.

If you’re on the same page, 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 as well.

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Senior Salesforce Developer, PayPal

Roles: As a Senior Salesforce Developer, you will be required to design, develop and provide management and support for the Salesforce CRM and Sales Technology portfolio of PayPal’s business.

Responsibility: You must be practical and have proven experience in developing and improving Salesforce and sales technologies in a global environment.

Requirements: More than seven years of experience working as a Salesforce developer is required, and you also need Salesforce Certified Platform Developer I and II certifications. Experience with AppExchange and other tools such as Apttus, Quip, LeanData, Outreach, DocuSign and Gainsight is desirable.

Interested? Check out the role of senior Salesforce developer here or discover more jobs at PayPal.

Site Reliability Engineer, Allica Bank

Roles: 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 your IT infrastructure.

Responsibility: You will ensure that the configuration of all Linux platforms (Ubuntu) meets best practices, as well as assist the architecture team with configurations as part of the design.

Requirements: You should be familiar with working with Linux (preferably Ubuntu) platforms and have experience with implementing cloud solutions (Microsoft Azure is highly desired). Experience with Ansible to automate configuration and patching is also required.

More about the role of Site Reliability Engineer is available on our job board, as are other options at Allica Bank.

Front-end Engineer (JavaScript / React), Thought Machine

Roles: A Front-end Engineer at Thought Machine is responsible for the development of web and mobile apps. You will develop the apps that bank customers use to do their daily banking activities, as well as the apps that the banking staff use to run the bank.

Responsibility: You will work with some of the most exciting and innovative apps in fintech while Thought Machine is pushing to revolutionize the industry. From day to day, you will work on a number of challenging and interesting projects using some of the most groundbreaking open source frameworks.

Requirements: You need a real passion for front-end and have experience with a variety of technologies, including JavaScript, React, GraphQL, Redux and React Native. If you have some experience with Native Development, Objective C, Swift or Android, that would be great.

Discover more about the job Front-end Engineer as well as more roles at Thought Machine on our job board.

If you’m ready to look for a new role, check out the thousands of opportunities on the FinTech Futures Job Board.

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