BS in Engineering+MBA+CFA

Somebody say something about area. quit talking about money. the poor son doesnt really need all that.
What area will suit someone with little FS experience?
Research?
Asset Management?
Front Office?
Risk?
Something tangible please, I am in exactly same predicament and i am dying to hear department names or other functional areas. I am a Software Engineering Grad, not exactly similar but more or less in the same shoes.
Thanks for everything anyway.
WebSpoiler aka WebTwister1
 
Thank you, webtwister…
Whenever I ask something, the discussion goes somewhere else…
 
here’s an answer…there is NO edge.
Your engineering degree shows your problem solving skills, quant driven mind set, and work ethics. Thats how you differ from the arts majors and the business majors who probably learn a different mindset on critical thinking. But at the end of the day, you WILL be swimming with the best and brightest in the financial industry. Face it, people capable enough to be in the game were probably smart enough to get the engineering degree when they’re 22. Other traits can be obtained through on the job training.
If you’re talking bout something that will set you apart from the other entry level analysts, I say quant related field will suit you best and probably financial statement analysis (we’re damn good with ratios and analysis).
Stay away from asset management and research analysis because 1) engineers suck at people skills and face-to-face communication and 2) engineers cannot write an interesting report.
2 years in, no one will care what major you were.
I have a Mechanical Engineering degree from Georgia Tech and I’m working in finance right now, so I think my words carry some sort of weight. Then again, I basically just used all engineering stereotypes to write this post.
Here’s another trait of engineers: always wanting a black or white answer (or when we can’t get it, assign a safety ratio for a range). NOT A GOOD TRAIT IN RESEARCH. Analysts thrive on capitalizing on picking the right shades of gray area. If everything is black or white, then the market will always be efficient and no money would be made.
 
In my opinion, the best way to “career switch” is to go to a strong business school (full-time). I know this means sacrificing two years of salary, but if you really feel strong about making the switch then it might be worth it to you. You will have access to on campus interviews and internship possibilities.
I fear that there are many people in science/technology look at the CFA as a way into finance. Although there are probably some success stories, I think of the CFA as more of a compliment to your entire academic/professional portfolio. It’s not a magic bullet by any means. However, with the right work experience, it can take you places.
However, the original poster states that he/she already has an MBA so, it is to his/her advantage to use his/her MBA network to try to get into some kind of finance position. A big part of getting an MBA is the networking aspect. Even though the school might not be of any help, are there any friends from b-school that you could contact and at least ask for some advice? Has anyone from your MBA class made a move from finance from a quant background?
In terms of what kinds of jobs to look for, I would suggest speaking with a few recruiters/headhunters and getting a feel for which kinds of positions people with quant backgrounds get hired. As far as “quant” jobs, I would guess that Risk Management is an option. Like I said in a previous message, most of the analyst at my company have an engineering undergrad, but I’m sure this varies from company to company.
 
asdffdsa Wrote:
——————————————————-
> “Does anyone agree that Engineers are underpaid?”
>
> No. It’s supply and demand, baby! There are ten
> hundred bagillion engineers out there that have
> the exact same skillset (most of them are one
> trick ponies, at that). It’s a commodity business
> that pays commodity salaries.
One trick ponies? Commodity Business? These are harsh words.
>If there are few
> slots and lots of people willing to fill them,
> employers will naturally pay less.
But if supply was out of whack with demand, how come financiars are making more money? Maybe it’s true at the entry level, but look at the engnieers runnings silicon valley companies. They get paid big bucks.
>What they
> “contribute” is largely irrelevant (and somewhat
> subjective, anyway).
Subjective? Irrelevant? Huh? I thought engineers created conrete things. Look around you.
> Personally, I’m happy to see a lot of arrogant
> engineering types hit the concrete a few years
> after graduating. “But, but, I majored in
> engineering, I’m so smart!!” Yeah, right.
> Engineering is the most overrated discipline ever.
> (If you’re wondering, I doubled in CSE and
> humanities.)
I agree that a dose of humility will definitely help everyone ;-)
 
Thank you all for your answers!
MFE:
I do not think I need to bother to get CFA to go into operations..I have MBA in Finance also..So, I think I am a little overqualified for that.
Kevin:
You are right. I do not have very strong communication skills, and I do not like dealing with people so much. I mostly like to analyze things and crunch numbers. You mentioned Financial Statement Analysis, but are not people with accounting background preferred for this kind of positions?
vDiddy:
Unfortunately, my school was an engineering school with no connection with the finance world..So I have to do the job search by myself :(
How can I find these headhunters who can give me some advice on the issue? By the way, I am a she :)
Thanks!
 
If you do not have strong communication skills, then you might want to consider to be a quant.
 
I know of a woman who has an advanced degree in engineering and is now working in risk management.
So I’ll say, you should definitely try for risk management roles. Also, depending on how advanced your math/stat/modelling skills are, you can also try for quant positions as mentioned by ymc above.
The thing is most of the more senior positions require some sort of relevant experience. you might have to take a pay cut or start at a more junior level.
 
MFE, our engineers are averaging 55k out of school and I don’t know any of them who get paid big bonuses (this isn’t finance–they work 40 hour weeks and dress poorly). I also don’t know any 25-year-old engineer pulling in anything near 100k. Again, that is preposterous. Engineering and IT, even in my area, aren’t getting paid what they used to be. In the mid-1990s, our first year engineering grads were averaging 55k per year out of school. We also had almost a thousand companies recruiting on-campus then. 80 percent of them no longer exist.
 
MFE, with regard to your pdf, I’m not sure an Ivy League institution in New York is representative of the “typical” financial career path of an engineer. Nevertheless, it would be a mighty fine engineer who has his salary rise more than 10 percent per year each year from 22-25. LOL.
 
You must log in or register to reply here.
Back
Top