Hello everyone, I’m currently a 22 year old solutions analyst at an administrative software firm in New York. I graduated with a degree in Chemical Engineering but decided to pursue a more business-y route. Now that I’m here, I’m realizing that I would like to move into the business sector more, but my business background is sparse.
Right now as an analyst, I mostly work with developers and product integration. I’m wonder what I have to do to transition into the business world, in particular finance. I was thinking CFA because an MBA is out of my budget, but I’m not sure what other education I can do on my own to learn more about business. I also don’t know how I would break into the business sector. Any advice would be much appreciated!
Find a finance role within some type of engineering firm. I’d expect this will be the easy way to cross over. Without any CFA or Financial credentials, you likely won’t get much traction in a traditional finance role.
I admit, that was poorly worded. I’m looking to transition into a financial analyst role. I enjoy researching and analyzing stocks, and I am in the process of creating my own portfolio. I’ve read through Graham’s “The Intelligent Investor” and am also going through his textbook “Security Analysis.” I’m finding myself becoming more passionate about finance and slightly obsessed with the market and researching stocks and bonds, to the point where I’m up late at night working on my portfolio.
I thought transitioning to finance would be great because I’m becoming really passionate about it, but without the education background I don’t know how to break into a financial analyst role. Would getting a CFA be beneficial?
I find it crazy to believe how hard people with seemingly better degrees are dying to get into finance. yes engineering can provide a set of skills that people hiring in finance like but in general with little background why not just enjoy the good salary and lifestyle that come with an engineering gig?
My brother is an engineer, makes very good money, and works like 9-5, off for holidays I have never even heard of, and his job is not stressful.
First a PharmD, now a chemical engineer, whats next? A guy who wants to leave the Air Force because he got tired of flying fighter jets and wants to follow his true passion, analyzing equity securities?
I think people grossly overestimate how glamorous finance is for 99.9% of the people in the field. It’s probably like how we’d think civil engineering is bad ass because we imagine the guy designing the next Golden Gate while 99% of them are analysing concrete samples for a suburban sidewalk.
You’re getting enamored with the idea you could hit it big with a good stock pick. You’re not passionate about equity research…you’re passionate about making money…start a start-up, get some FFF money, grow it, get some VC financing, sell to a strategic and have a big pay day. Then become an entreprenuer and invest in other start-ups with your newfound wealth.
Well, people with skills want to get into finance because r > g.
People now make money by selling their labor (including brain labor) or collecting rents from capital. Since labor of all types is getting increasingly squeezed, is it any surprise that people with otherwise good qualifications don’t want to work for ever decreasing squat?
Well, people with skills want to get into finance because r > g.
People now make money by selling their labor (including brain labor) or collecting rents from capital. Since labor of all types is getting increasingly squeezed, is it any surprise that people with otherwise good qualifications don’t want to work for ever decreasing squat? Particularly since the social safety net is pretty much dismantled.
I disagree that labour of all kinds is getting squeezed. Skilled trades and medicine are two areas where labour is doing real well. Add in police and fire fighters who are both six figure gigs in my town. Depends on where you’re at. Very few in finance actually benefit directly from returns on capital… Most are just grunt labour that can be offshored to India in a heartbeat. Those that can’t are the upper 0.5% elite.
2. Master Plumber (90th Percentile Pay: $102,000) As long as we want running water in our homes and business, plumbers will be in demand – job-outlook forecasts for plumbers are usually very favorable. Whether they work as sole entrepreneurs or for larger companies, plumbers typically spend their time installing and repairing water, waste-disposal, drainage and gas systems and related appliances. There are many paths to becoming a master plumber, but a common one is through a term of apprenticeship to another master plumber. According to the BLS, most plumbers, pipefitters and steamfitters get their training in jointly administered apprenticeships or in technical schools and community colleges. Most states require that plumbers be licensed; licensing requirements vary, but most localities require workers to have a minimum of two years of experience and pass an examination on the trade and local plumbing codes.
^ Start your day at 7, done by 3pm. No bullshit politics. Start your own biz and make a half mil a year. Pretty good deal. Doesn’t even require a degree, experience and a few weeks of courses. I’m getting into a couple redevelopment projects and plumbers/electricians have it made. Their jobs are legally protected by safety codes, they are in short supply and name their own terms. Having half a brain puts you in the elite.
Barring familial obligations (like multiple children, a wife that can’t work for whatever reason, and you’re already in the poor house), this justification for not getting an MBA doesn’t make sense to me. Yet, so many people use it. Take out student loans. If you go to a decent program, you’ll be earning $100k at a minimum with almost any job you take out of school ($150k, more realistically, including bonus). You can repay your student loans rather easily.
An MBA is the best route for you. You can try doing the CFA, but it won’t do much for you without an extensive network in the business world. Sack up and commit 2 years to getting your MBA if you’re truly serious about switching careers and getting into a business-oriented field.