The profession of IT Consultant in Finance
An IT Consultant in Finance designs and develops IT applications for financial specialists and institutions.
This expert in information and communication technologies listens and assesses the IT needs of a team or an entire company before proposing a solution. Their role is crucial within organizations and a largely digitalized sector.
They possess both advanced sector knowledge and excellent IT skills. The Computer Science Master's program at Paris Dauphine-PSL University is a rigorous academic path to becoming an IT Consultant in Finance.
Role and responsibilities of the IT Consultant in Finance
An IT consultant, also known as an information technology consultant, helps companies and organizations better manage their internal processes and optimize performance through the use of IT technologies. The specificities of finance make this job challenging without excellent knowledge of the sector, the market, and financial services. The IT consultant specializing in finance acts as an intermediary between production on one side and the IT department (Information Systems Department) on the other.
Daily tasks
The missions of an IT Consultant in Finance are as follows:
- Listen to the needs of the management or a specific branch of the company
- Diagnose existing solutions
- Draft a functional specification document
- Choose the technologies to be used
- Design and develop the IT solution
- Manage change and train users
- Ensure maintenance and support
- Write the technical documentation
Salaries and career progression
The median salary of an IT Consultant in Finance is around €38,000 gross annually at the end of their studies. Depending on the projects handled, their experience, and extended responsibilities, they can increase their salary.
After 3 years of experience, the consultant's average salary rises to €48,000 gross annually. The IT Consultant in Finance will progress towards a position as an IT project manager or department head.
Required skills
- Advanced IT skills
- Strong knowledge of finance
- Stress resistance
- Project management skills
- Human resource management and team spirit
- Adaptability to unexpected events (breakdowns, malfunctions…)
- Technological watch
What studies are required to become an IT Consultant in Finance ?
The IT Consultant in Finance distinguishes themselves from other profiles by having a dual skill set. They are specialists in developing IT solutions and possess enhanced knowledge and understanding of the financial sector.
Only a high-level Bac+5 education can train such well-rounded profiles. Master's programs in computer science integrate financial, managerial, and technical knowledge, enabling graduates to become IT Consultants in Finance with interesting career opportunities and advancements.
Consultants from such training programs can be recruited by major companies in the finance sector, public organizations, or specialized consulting firms and IT service providers (ESNs).
Training to become an IT Consultant in Finance at Paris Dauphine-PSL University
Paris Dauphine-PSL University offers a Master's in Computer Science to become a consultant. The specialization MIAGE-IF (Applied Computer Methods for Business Management and Financial Computing) combines complementary teachings to develop IT solutions for financial issues.