Career Switch Into Finance. Am I Crazy?
I'm in my mid-twenties and interested in pursuing a career in banking. My background is extremely unconventional, though, and I'm wondering what all I can do to have my application taken seriously and get my foot in the door. Here's my background:
1) Majored in Anthropology from a top five school (coursework in calculus, stats, and qualitative research methods)
2) Joined the Peace Corps for two years doing community development
3) Got an MA in Anthropology from a top 10 school (more coursework in qualitative research methods and one graduate level stats course)
4) Now I'm doing marketing for a start-up
I'm not happy with the compensation with my current job, but I enjoy the competitive analysis/market research part of the job. I also feel like I'm not building skills quickly enough, and the word on the street is that pulling up all nighters and working long hours becomes more physically difficult as you get older. My logic for going into finance is this: I should cram as much knowledge into my brain before I start getting old and get solid credentials so that I'll have more opportunities in the future.
Does anyone have any tips on how I can get interviews? I feel like my background makes me look like a flake, and I'm not sure what I can do to show that I'm serious. Are there any positions in finance where my background will be seen as an asset?
Sounds like you're a top candidate for MBA
MBA would surely help as far as your background and experience goes, and I'd look into any connections you might be able to leverage through alumni networks. From a top 5 school, you undoubtedly have friends and former classmates who are presently mist making in finance somewhere
MBA --> consulting would be a much better fit for you.
Isn't it too early career-wise for me to get an MBA? My main concern is that when I'm finished, I would still be a bit of a wild card, since none of my work experience is directly related to finance. And actually, I am very interested in consulting and have put in quite a few applications. I have a feeling that consulting would be a better fit for me, but my main concern with going into consulting over finance is that a lot of consulting companies have specialized focuses. I was thinking that there would be more exit options going into finance vs., say, working for a consulting firm that focuses on healthcare.
Also, since I'm not in school anymore, would I be hired in the spring for consulting and finance jobs? Would there be a way to start earlier than that?
What kind of "finance" do you want to do? Knowing your end goal will help you decide the most appropriate path.
Also, keep in mind, finance as a whole is already a crowded field where people with education and experience have trouble finding work. What makes you think you're better than these folks?
MBA is the most sensical route, but it's definitely the most expensive. Also, alot of MBA'ers aren't getting in these days either. Then there's the CFA, it's cheaper and can help your resume look more polished, but not ideal for deal structuring - related work. (I personally know several CFA's out of work right now, and they're not getting in either).
You're just going to have to get out on the field and talk to as many professionals as you can. It helps to know exactly what you want to do in finance to speed up the process and talk to right people.
With the "actual" experience you have, (not simply modeling, banking analyst type work) you should look at VC and/or growth equity as well. There is definitely finance involved, but a lot more of the market/industry research than as a banking associate (assuming you go the MBA route?)
If you decide to stay away from the MBA, I would say you aren't too old to start in banking. You'd most likely start as an analyst, but I don't think your age would be a huge deterrent. There are a lot of kids who went on Mormon missions, took a year off, did a study abroad, dual major, etc etc.
Regarding start date, a lot of the larger firms (MBB in consulting, bulge bracket investment banks) have pretty set timelines regarding recruiting each year. However, when kids burn out and leave mid-contract, the firms usually won't wait until the next recruiting cycle to fill. Since you don't have previous banking/consulting, it would be tough for one of those place to bring you in without the formal training program. Because of that, if you really want banking/consulting, you should look to smaller firms with less stringent hiring timelines
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