Comments on: Breaking And Entering Into Finance, Part I: The Engineer

By: Amit

Amit — Mon, 04 Aug 2008 17:26:08 +0000

I currently work at an investment firm as a Fund Administrator. I have a Bachelors of Science degree in Financial Economics. Currently, I am taking math courses that are prerequisites for financial engineering programs and studying for CFA (taking level 1 in December). Is there anything else I can do to break into the hedge fund world? I can’t even get taken seriously when I interview for portfolio positions at my own mutual fund firm! Can you provide me any insight or advice? Oh and by the way, I am that guy that trades stock(sucessfully)/mutual funds(successfully)/plays poker online at lunch(successfuly). More specifically, when everyone was selling financials the day the bear stearns news came out, I was buying. I still can’t get anyone to take me seriously…

By: Inquisitor

Inquisitor — Tue, 29 Jul 2008 00:08:21 +0000

Not really, it’s more similar to private equity because you’re financing infrastructure projects… I am not too familiar with it but I would assume the banks with strong energy/infrastructure groups (CS, Lehman, UBS) also do the debt financing for Project Finance.

Hard to answer how best to approach it as a future goal without knowing more of your background, but I’d say it’s do-able if you have good, relevant experience in both finance/business and engineering.

By: Mechanical Engineer

Mechanical Engineer — Mon, 28 Jul 2008 06:38:06 +0000

Hello Inquisitor,

Is “project finance” part of investment banking ? Which banks are the best in the field and how complicate is to target this sector as a future career goal ?

thank you

By: Inquisitor

Inquisitor — Tue, 22 Jul 2008 18:31:21 +0000

ola: In general those professional qualifications do not help much in terms of breaking into investment banking/private equity/hedge funds… the CFA and such are more helpful for portfolio management and related fields.

Work experience helps the most and really sets you apart - I would advise you to start small and even look at unpaid or part-time opportunities, and then expand from there.

By: ola

ola — Tue, 22 Jul 2008 17:42:43 +0000

Hi there,im really impressed by your responses, ive earned a foreign degree in economics 2yrs back and its being quite difficult breaking into the finance industry especially due to lack of experience. I plan to commence a Pgd degree but do you think a finance proffessional qualification which would be more effective in breaking into the sector. And which ones are most recognised. thank you.

By: Mechanical Engineer

Mechanical Engineer — Tue, 01 Jul 2008 07:02:50 +0000

Good morning Inquisitor,

1. Does an investment banking firm prefer an MBA grad. or someone with a financial background and work experience in the field ? Being a sales engineer, what should i emphasize to the MBA admission committee for wanting to switch careers towards invsest.banking ?

2. From your experience which personal qualities do you consider most valuable to break in and succeed into investment banking ?

Thank you very much again for your help and valuable advice

By: Inquisitor

Inquisitor — Mon, 30 Jun 2008 18:26:21 +0000

Fresher,

If you’re already out and working it’s quite difficult to get into banking from your current field unless you do 1 of 2 things:

1) Go for smaller firms that hire more people from varied backgrounds. I’ve had many engineering friends who have gotten in by going to regional boutiques.

2) Go back to business school - probably not a great option if you haven’t been working at least 5+ years.

If you’ve already been out and working for a year or two, I would strongly advise switching over ASAP… if not, you may want to wait for at least a year to pass first.

By: Fresher

Fresher — Wed, 25 Jun 2008 06:49:16 +0000

Hi… I’m a 22 year old Electronics and Telecommunication Engineering fresher and would like to get into Investment Banking. Could you advise me as to how to go about it? Should I get experience my respective field before I make the career change? Should I take up an MBA in Finance first? I am very interested in the stock market and though I don’t trade, I follow it on a daily basis. Please help, I am quite confused.

Thank You and congratulations on doing such a wonderful job.

By: Inquisitor

Inquisitor — Sat, 21 Jun 2008 21:43:45 +0000

Hi there - I wouldn’t be too worried about your age. If you get into a top MBA program (which definitely sounds likely with your experience), it should not be nearly as difficult to get into investment banking.

An MBA is definitely the right way to move in for you. Age will not be a factor unless you were, say, over 40 or so, in which case working long hours may be more difficult.

By: Mechanical Engineer

Mechanical Engineer — Fri, 20 Jun 2008 09:58:57 +0000

Good afternoon and congratulations for the good advice and info one can find on this site.

I am mechanical engineer, 29 years old, with a 4 years experience in (international) sales, working for a mining company (my experience involves budgeting,knowledge of metal products and the metal industry, market analysis, and defining commercial policy as well as assisting development of new products).

I would like to change careers and shift towards finance but I have no experience in the sector. I am in fond of analysing companies and investing.

I am considering applying for an MBA in a top school as a mean to make the transition. I am nevertheless worried about my age together with the “compatibility” of my background and prof. experience in the eyes of potential recruiters.

What advice could you give me ?
Is an MBA a good and practical way to make the transition ?

Thank you very much