Hi all. I passed CFA level 3 in August 2017 with no financial services work experience. I am a graduate in engineering from a reputed univ in Singapore and has been working in engineering field for the past 3 and a half years, I have a keen desire to join the investment/financial services industry.While studying engineering i have done several modules on eco, finance and stats with A grades and that is when i developed a passion for finance. How can I enter the finance field now with this CFA level 3 pass ? Since i do not have a basic finance degree, will doing an MBA in finance now help me for a career change?? Suggestions please as I badly want to shift to finance soon and earn the charter.Thanks in advance.
There are a number of companies who would love to have a nontraditional finance background like yours. I know a couple of friends who got into asset management without a finance degree. One joined Morningstar with a degree in Philosophy, and some classes in Finance. She is currently a CFA Level I candidate.
It really is how you package yourself. Get an affiliate membership, attend CFA events, and network.
No offend here but an office cleaner in Goldman Sachs can proudly say she works in Finance.
Depending on the type of engineering you do, you should have no problem breaking through.
The truth is, unless you went to a top-tier undergrad program, having a degree in finance is pretty much useless. CFA should give you more than enough to work with.
Find quant jobs.
I’m in a similar boat. Been working as a biomedical scientist for a few years. Just passed level 3. I have yet to land a job in finance, so my advice should be taken with that in mind. But I think the key is networking. Talk to anyone and everyone you know who is connected to the industry: friends, friends of friends, your aunt’s friend’s brother-in-law, etc. At some point, someone may offer you an interview. Now that the test is behind me, I have been doing this full throttle. I have already had two interviews, but no offers. Both of these opportunities came through networking through friends and family.
You could also poke around to see if there are any investment groups/communities you can join. I found an investment group that invests actual money in biotech sector. I have been contributing to the investment decision process, unpaid, and have slapped that on my resume. Perhaps you can find something similar.
In the meantime, keep learning, as others have said, through any means you can. Free online lectures, instructional youtube videos, etc. With your background and skills, you should be reasonably marketable. Whether an MBA or MS in finance is worth it, that’s beyond my knowledge. Maybe someone else can chime in on that, because I am curious too.
In sum, network your tail off
As has already been stated networking is the main answer. But do not shy away from applying to entry level jobs. Eventually you will land a few interviews and have an opportunity to sell yourself. In the end it’s up to you, finance background or not.
Thanks a lot for everyone here who replied. I am yet to register with the local CFA society and start applying for entry level jobs. My idea of doing an MBA in finance full time was to catch the attention of more recruiters at the career centre or career fairs with the academic finance education which they expect. That is almost a year away from today. I dont know if manpower consultants could help in job search?
it isn’t that hard to get into finance in SG. just get to FO and work your way in.
There was an article CFA Institute once posted long ago that one dentist became a CFA charterholder…
i thought what kinda dentist he is…I d never sit in his chair though… ))
Not exactly but similar…
Get the MBA if you want exposure to topics other than finance or accounting. With your experience taking and passing the CFA exams, you will ABSOLUTELY smoke your MBA classmates in all courses related to finance and accounting (except for corp fin, where my school spent much more time and depth on impact of Mergers, Acquisitions and divestitures on market capitalization.
Otherwise, my opinion is (with limited information) - you are impressive already from a firm’s perspective. You exhibit aptitude in topics which are not native to engineering. That aptitude means you can be taught, and your field of study indicates you can digest complex topics - beyond the scope or ability of any MBA without a undergrad degree in engineering.
Go rock um. You’ll surprise yourself.
Oh, and you passed all 3 of the CFA exams…
Thanks a lot for the detailed reply. yes…i want to surprise myself.
good job