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Career Switch! Entering the Finance World

Discussion in 'Other Off Topic Forum' started by C Alexander, Jan 2, 2014.

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  1. C Alexander

    C Alexander Karting

    May 9, 2013
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    #1 C Alexander, Jan 2, 2014
    Since this is F-chat after all, I'm willing to bet some of you may be in a good position to give me some (sound) advice:

    I'm looking to make a career switch from Engineering to Finance. I have a BS in Electrical Engineering and I'm almost done with my MBA in Finance. I have been working as an engineer full-time only for about 5 years and although the $ and hours are good, I need more challenges and excitement in my life. I also need more $...oil changes on a Ferrari aren't cheap :)

    My question is, aside from the IB side of Finance, has anyone made this transition and if so, how did you go about doing it?

    Any advice is welcome!
     
  2. TexasF355F1

    TexasF355F1 Seven Time F1 World Champ
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    #2 TexasF355F1, Jan 2, 2014
    My friend did this very thing. Worked a few years as an ME and then quit his job and went back to school.

    He's working for Amazon currently. Although he's looking for a new employer. He does prefer the finance side of things and as you eluded to, he can make more money in finance than as an ME.
     
  3. C Alexander

    C Alexander Karting

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    #3 C Alexander, Jan 3, 2014
    Good to know, I think the switch happens quite frequently.

    I would think that a lot of Finance managers would prefer hiring those with engineering backgrounds due to their analytical and problem solving abilities. However, I'm curious to know what type of positions are most suitable for making the switch and in what field of Finance...
     
  4. DrStranglove

    DrStranglove FChat Assassin
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    #4 DrStranglove, Jan 4, 2014
    Dean did it too. Went from MD to SB ... then back to MD about 6 months later. it is pretty hard for science guys to make it in finance because finance does not follow any real rules.
     
  5. C Alexander

    C Alexander Karting

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    #5 C Alexander, Jan 7, 2014
    I agree that those with traditional science backgrounds may not be comfortable in financial environments, but I think engineers are the exception. We constantly deal with high pressure situations, problem solving scenarios, tons of numbers and calculations, budgets, deadlines, and clients. whenever I work with financial institutions, I feel most at home...
     
  6. C Alexander

    C Alexander Karting

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    #6 C Alexander, Feb 1, 2014
    Anyone else in Finance here?? I'm looking at PE, VC and HF. However, I'm also interested in PWM and it would likely be easier for me to break in with my professional experience and MBA. If anyone is in those fields, I'd love to get some further advice...
     
  7. DrStranglove

    DrStranglove FChat Assassin
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    #7 DrStranglove, Feb 1, 2014
    MBAs tend to be worthless in finance. Better to get your law degree.

    Seriously.
     
  8. Zack

    Zack Formula 3

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    #8 Zack, Feb 2, 2014
    Tons and tons of opps for your qualifications.

    Typically you get hired at the end of your MBA by on-campus recruiters, headhunter placement, or contacts.

    If these are not panning out, start looking at high-tech companies like Intel, AMD, etc. They need engineers to decide what the next sound investment ought to be.

    VC is very competitive but you have the qualifications. Just apply for the entry-level positions.

    PE--you need personal contacts, I think.

    HF--look for analyst positions that can leverage your engineering experience.

    Overall, you need to find openings in the finance industry that need engineering knowledge. With experience, you can look for jobs that only require your financial background.
     

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