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Thread: Career in Finance through MSc Finance?!

  1. #21
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    Career switch to Finance from Engineering.

    Ok, here's my story. I'm in my 3rd year of engineering right now and I'll take the CFA L1 in coming June. My ideal plan is to get into a good bschool and do an MBA straight after my engineering alongwith CFA. But if I don't get into a good bschool, I'll have one year at my disposal before my second attempt at CAT. Now, considering this scenario, being from an engineering field, I'll land up with a technical job through campus. Since a CFA charter requires you to have a 4 years work experience in a RELEVANT field, doing a technical job as a software developer won't add up to anything.
    So what options do I have after I'm done with my engineering to make a career switch? Does CFA level 1 alone have any job prospects in India or outside?
    I'll either ways get work experience be it a technical job or finance related, but something related to finance will make more sense.

  2. #22
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    Quote Originally Posted by misguided.ghost View Post
    Ok, here's my story. I'm in my 3rd year of engineering right now and I'll take the CFA L1 in coming June. My ideal plan is to get into a good bschool and do an MBA straight after my engineering alongwith CFA. But if I don't get into a good bschool, I'll have one year at my disposal before my second attempt at CAT. Now, considering this scenario, being from an engineering field, I'll land up with a technical job through campus. Since a CFA charter requires you to have a 4 years work experience in a RELEVANT field, doing a technical job as a software developer won't add up to anything.
    So what options do I have after I'm done with my engineering to make a career switch? Does CFA level 1 alone have any job prospects in India or outside?
    I'll either ways get work experience be it a technical job or finance related, but something related to finance will make more sense.
    Pls read some of the posts in the following thread:
    http://www.daulatguru.com/finance-fo...er-Engineering

  3. #23
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    Part time mba student

    Hi am a first year MBA student studying on my own, I need an advice on how to answer MBA examinations questions in other to achieve high marks. Tips,advice, guidance and techniques to answer MBA questions will be very much appreciated.

  4. #24
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    Career switch to Finance from Engineering.

    Hello neetu. Thanks for the link.
    I read all the pages of that thread but I still have few questions.

    1) My ultimate goal right now is to do an MBA in finance from a very good bschool. Therefore in the scenario where I'm not able to crack CAT in my first go, I'll have one year before my second attempt (I'll have completed my engineering then). So the options I'll have then would be to work in either an IT company (through campus placement) OR do a finance related job. Now, I'm very keen to go into the later category but at the same time the work I'll do then in finance should count into an "acceptable work experience" which should enhance my chances of final selection into good bschools.
    So keeping this in mind, what options does a fresh engineering graduate have if he wants to make it big in the world of finance?

    2) Does CFA level 1 alone have any job prospects in India or in US?
    I'll have no problems with working abroad.

    3) If not a finance related job, are there any 1 year courses in finance that I can opt for after engineering to make up for that one year?

    Because I feel working in IT company would be of no use to me. CFA charter requires 4 years in relevant field so working in IT company would imply me wasting one year just in order to add '1' in my count of work experience. So, please enlighten me with the options I have.
    Thank you.

  5. #25
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    It's nice to see that you are very focussed and have a good plan to switch to finance.

    You can do an MBA immediately after engineering but I feel that at least 2 years of experience will make your MBA more useful.

    Your main concern seems that you don't want to work in IT/engg jobs as they may not be relevant directly for a finance job. However there are some skills like excel modeling or data analysis that are transferable. You can try for Analyst jobs in investment banks like Barclays Capital, Avendus etc. These companies hire very few people for investment banking roles after engineering. So your next best option will be to work in a company like Evalueserve in their investment research team.

    CFA level 1 does signal to recruiters that you are serious about a career in finance but it doesn't guarantee a good finance job either in US or India.

    I think you are on the right track and if you actively look for equity research jobs after CFA Level 1, you may find a decent job.

  6. #26
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    Hello sougatab. Thank you for your reply.
    How do Barclays Capital go about hiring engineers for Analyst job?
    I mean how is the overall process? On what basis do they hire people? What are they looking for?
    And how will I know if they have any job openings? When should I apply for the same?

    I know there are too many question marks...but the prospect of Barclays hiring engineers has exhilarated me.

  7. #27
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    There are mainly two ways to enter a bulge bracket investment bank for an Analyst role:
    1. On-campus recruitment - mainly from few IITs (for engineering students)
    2. Off-campus - there may be some job postings on the websites but networking with senior investment bankers will be useful

    They are looking for people with good quantitative and analytical skills. If you are good in data analysis, excel modeling and have basic finance knowledge, then you'll have the required skills for the job.

  8. #28
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    I don't have any networks with any senior investment bankers. How should I go about building one now? Can DaulatGuru be of any help?

    And how does the selection procedure go in Barclays for engineers? Can you PLEASE give me the detailed structure of their rounds before final selection? How many rounds are there? I suppose they must be taking a screening test to shortlist the candidates, so on which domain do the questions range from?
    And when one breaks into the interview stage, what sort of questions are asked? Ultimately, what strategy must I follow now if I want to get into the likes of Barclays considering I've almost an year in my hand now to strengthen my chances of getting in.

    Btw, thank you so much for being so patient with me and replying to my queries. I know some of them must be very silly ones. Really appreciate it.

  9. #29
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    Hi,

    You can build your network in a number of ways including using sites like LinkedIn. DaulatGuru.com can also help you in that process. Have you seen our interview section?
    http://www.daulatguru.com/interviews

    We have interviewed some global leaders in the finance world. DG members can help us in interviewing senior executives of finance firms in India or abroad and that'll help in networking. Here's how it'll work:
    1. We'll provide the contacts and also help in developing the questions.
    2. You'll have to get an appointment and either meet or conduct the interview via phone.
    3. You'll have to send us the transcript of the interview.
    4. We'll edit it and publish it.

    The end result is that you'll get a chance to speak to a senior executive of a finance firm and that'll be a good way to network.

    In case anyone is interested, please send us an email at: info@daulatguru.com with your updated resume.

    Regards,
    Sougata

  10. #30
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    That is a great initiative Sougata! I think many MBA students will find it useful.

    @misguided.ghost

    In an Analyst role, the investment banks may ask basic finance questions. They will try to find if you are good working with numbers. I am not sure if they'll ask anything related to valuation but it'll be good to have some basic knowledge and know concepts like NPV.

    Most important will be your ability to clearly say why you are interested in that job. You can search in google and get sample questions. For e.g. http://www.job-interview-site.com/in...uide-tips.html

    - Neetu

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