Will my job have a negative impact on my profile as a graduate student applicant? I am a senior undergraduate in Electrical and Electronics Engineering, and I ultimately want to pursue a Master's degree in the field of Embedded Systems. However, my current financial situation prohibits me from paying for this, so I have decided to take a couple years off in order to save money and to apply for loans and scholarships. To that end, I have recently accepted a job in the IT department of a respected bank (I was unable to find a job in the field of Embedded Systems). Since I am not able to work in my target domain, will this time off negatively affect my prospects at top graduate programs?
Masters degrees are often funded not by the university but by an employer.  Generally with the requirement that you continue working during your program, which constrains choice of school geographically (has to be close to the employer), the rate at which you complete a program (part-time, not full load), and only works for the degree most closely associated with the job you do -- companies don't fund you to move on to bigger and better things elsewhere, they invest in making their employees provide more value back to them.

Your job history shouldn't have a lot of impact other than whether it enables you to be employer-funded, and in the case described of working in your field but outside your desired specialization, it pretty much rules out receiving that benefit.

On the other hand, most Masters (MS, MSE, or MEng) in Engineering programs even at highly ranked schools don't have extremely competitive admissions.  So you might focus on trying to find employment (and the necessary visas) compatible with the program you want to enter.