I'm applying for internships and I started wondering how the 2 compare when it comes to:
1) salaries
2) work-life balance (most important for me personally)
3) overall enjoyment
There is a huge amount of FUD going on here. I think this all comes down to the specific companies you apply for and work with. As an intern, you are probably going to end up moving and it matters a lot more what projects and problems you get to solve than whether it is a tech company or a bank. Now to answer your questions:
1) The salaries at both tech companies and banks will no doubt be about equivalent for interns. Salary has a lot more to do with your negotiating skills than anything.
2) Work-life balance has everything to do with the company. I have known engineers who have worked for big regional banks, small credit unions, and investment banks who have loved it. I have known engineers who have worked for the really big tech companies (Apple, Microsoft, Facebook, Google, HP), and small startups who absolutely hate it. There is NO hard and fast rule. Interview the company just like they are interviewing you.
3) Overall enjoyment has to do with your motivations. What do you like to work on? What problems interest you? Is your potential employer going to allow you to work on those problems?
Also, please realize, there is nothing that says you need to stick with the first company you intern with.
1) The salaries at both tech companies and banks will no doubt be about equivalent for interns. Salary has a lot more to do with your negotiating skills than anything.
2) Work-life balance has everything to do with the company. I have known engineers who have worked for big regional banks, small credit unions, and investment banks who have loved it. I have known engineers who have worked for the really big tech companies (Apple, Microsoft, Facebook, Google, HP), and small startups who absolutely hate it. There is NO hard and fast rule. Interview the company just like they are interviewing you.
3) Overall enjoyment has to do with your motivations. What do you like to work on? What problems interest you? Is your potential employer going to allow you to work on those problems?
Also, please realize, there is nothing that says you need to stick with the first company you intern with.