I have 10 yrs working experience in IT (infrastructure), and I feel that I’m in the wrong industry, I realise that my passion is actually in Finance. I’m now in dilemma: First, Finance industry isn’t easy to break, even if I can find an entry level job, my salary will cut maybe about 40%, but to continue work in IT is really make me dried. I know MBA can help me to switch career, but MBA in your mid 30 is not a good catch (most top-MBA average age is 27-30). Btw I have passed Level 1 of the CFA exam, so I feel that before continue to level 2, I should get some experience in Finance. My question: how is the career progress in finance for about 2-3 yrs after your entry level job? I don’t mind to start from entry level and cut pay about 40%. Btw my current location is Singapore. So anybody in Singapore appreciate for your comment.
In life you need more luck and network to be successful, intelligence is not enough.
It honestly won’t be easy for you to even get an entry level job because many will see you as “over qualified”. Post entry level isnt looking too great either unless you get lucky or know the right people, or find a specific field (maybe related to your IT background?). With hard work and some luck it is possible though. Entirely depends on what part of finance you want to do.
You could try starting on a sales desk and moving through the CFA program while you do that, but it isnt easy to move from sales desk to what I would consider an actual “finance” job.
Edit: my advice = stay where you are making the most money for now, move through CFA, don’t leave your current job until you get a finance offer you like. CFA program will be a good tool to figure out what aspects of finance you like (or more specifically - which aspects you do not hate).
overqualified in term of? age? salary? or? actually I don’t mind in the salary portion, because I feel if I don’t like what I am doing, I will have no progress in my future. I am really in a big problem now.
How did you realize your “passion” is in finance? There is no passion in finance by definition. I would stay in IT…you already committed 10 years…you’re just bored and in 10 years in finance you will get bored of that too. Make money, retire, and go pursue an actual passion, not another career.
For me passion is when you are doing things and you feel you still want and excited to do it again and again. You feel connected with how the financial statement of the company and you know how derivative and fixed income work. I started my career in IT is because I have no choice at the moment is not because I wanted to do it. Not everybody is lucky to be able to choose what career or job they want to do because of some situation. And you should differentiate between passion for career and passion for leisure. If everybody can retire without working, of course who doesn’t want it? I think you just don’t get the meaning of my questions.
@margarinet: what’s area of finance did you mean? it’s quite large. Certain finance work can be more interesting than others. What’s that entry level work? Some is faster some will be a long walk in the dark.
Ops also work w derivatives but I haven’t heard anyone there have passion for it. But maybe I’ll meet that person soon. If you are Indians, good (or bad?) thing is that there are lots of Indians in finance so you can connect with them. Many finance title at the top will involve non-finance works like sales, recruiting, branding, compliance, RM.
It’s hard to tell anything about your future, 2-3 years after your finance career. Market condition, you, industry shift. I remember there was an article about middle manager crisis in Asia, ie lack of career growth for finance professionals in Singapore/HK.
Think hard of what Ramos & Ohai meant. Have you watched Fight Club or The Big Lebowski? These people in finance love those movies because those cool characters are their heros who have the gut to go against mainstream and do not have to pay bills and unnecessary extravagance. But sure, build love for work! If you want to get rid of IT, change then. Do you trade at home? That’s how you can connect to finance too. If you need a badge, it depends on many things; if you have passion for certain thing, you won’t question paths. Welcome to the world of majority!