Switch from Engineering to Trading - BS in EE from a target
I have been out of school for about 4 years. I have an B.S. in EE from a target school. Needless to say, I have been studying the subject matter and putting the theoritical knowledge into practice.
What are my chances of getting a job in the trading arena at this point ?
Any comments or suggestions are appreciated. Thanks.
you now have 4 years work experience. Because you missed the last recruiting season, you will apply to intake of 2008, at which time you have 5.5 years out of school. I doubt banks will hire you as analyst at that stage.
It seems a lot more reasonable to do MBA and than a career switch. It's not that you are prepared to start fresh, they aren't prepared to take you, IMO.
For the good part, EE is mathmatically intense so they'll appreciate your maths background. I'm sure you can always try...
I personally know a former engineer... he did it for maybe 7 years and then got an MBA and went on to trade.
what kind of firm do you want to work for?
MBAs are useful for some trading positions... but if you want to be a hedgie you may be better off boasting your technical skills (engineering, physics, etc.).
It's not as much as an age driven industry as IBD - my boss worked as an engineer for a few years before he became a trader and it's not that uncommon on the trading floor having said that an MBA would open the associate programmes to you and I think I'm right in saying that MBAs were originally targetted at engineers.
Thanks all for the responses. I am wondering if the hiring system in trading is such that they can only hire a recent graduate.
I have read at more than one place that MBA is not necessary to become a trader. Since I have a full-time engineering job, it would take me about 3 years to complete the MBA on-line, which feels like a very long wait. Is it possible that I can only take the MBA classes that would help me in the trading arena ?
Thanks again to everyone for the help.
On-line MBA? Are you kidding?.............
I actually did the whole online mba thing. it worked out well.
i couldn't justify taking two years off.... and i couldn't do a classroom based part time program because i do a decent amount of traveling for work.
embrace technology... don't hate :o)
You might be better off going in as trading assistant perhaps? I concur trading arena doesn't require MBA and you aren't expected to hold one either. (of course it helps).
If you've got specific language skills, that may help. I know someone who went from Travel Agent into working at Japanese bank (back/middle office), and with this "1 year finance experience" (which everybody asks for), went to do trading assistant and than became a Trader at BB, and now moved to buy-side. A classic success story I guess...
languages - this is the response at my bank anyway, it's such a common commodity that it means nothing especially in trading.
Network your way to an interview - you'll have a lot of empathy with guys who started as engineers - as I'm mentioned many times before there r a lot of us.
I would do all my school online if I could, but I need recruiting
the online stuff is great for those students who do not think attending classes is beneficial...
you definitely miss out on recruiting though...
It's not that you NEED an MBA for S&T, it's that the MBA is the best route to switch careers. It is definitely possible to move from a non-finance position into S&T, but it is HIGHLY unlikely. The best route is to do grad school, preferably and MBA since that's where the recruiting is, and accomplish a career change that way. The MBA literally opens up the opportunity to try for sales, trading, structuring, on any desk you want, at any firm. In contrast to trying to switch directly from engineering into S&T, in which case one-off chances at interviews is about all you'll be able to get. That said, the engineering backgroundn is highly desirable. My desk, for instance, when recruiting for MBAs specifically targets finance MBAs with engineering undergrads.
Thanks for the reply. If I decided to do the MBA, I will have to do the MBA online (since I work full-time), which will probably not help as far as attending recruiting events is concerned. Is it a better idea instead just to take classes that will directly help in a trading career ? Please let me know your thoughts on this.
On a separate note, do you know specifically what engineering/math skills are most important for a career in trading ?
Thanks.
while probability and stats is useful it's mostly useful as a signalling device for quantitative aptitude.
future trader: are you in a city that offers an executive mba program?
I am in a city nearby Seattle, WA. Washington does not have any top 20 ranked MBA colleges. I am not sure doing MBA in a local college would help me much in obtaining a S&T position.
probably not, sorry
Hey futuretrader... as a graduating engineering senior i must say that it is definitely possible to get into S&T. I am beginning training as an analyst at a BB and I did not attend a "core" school. However, regardless of where you go to school you have to demonstrate that trading/sales is YOU and you have demonstrated a successful track record in what you have done. Plus, i am sure the MBA wont hurt as it can "reinvent" yourself to ease into S&T. Good Luck.
I've been reading some responses here on switching into S&T. I have a postgrad in systems engineering, joined the grad program with a top IB in their IT&Ops division, and been here for almost 3 yrs. Initially the IT and Ops felt like the place to use and apply my skills as an engineer, and now I want to get into S&T.
My initial thoughts were to start on the desk as an assistant (convince people here on the desk and land an interview), and then move up. Or get a Phd in finance (quants), or may be an MBA - but these have to be part time as I can't afford to quit work.
Any suggestions?
which online-mba did you decide to join? am an engineer working in telecom, got int trading and intrested to get more involved with the field.
Switch from Engineering to Trading - Good idea to go for a summer internship? (Originally Posted: 01/13/2008)
Would it be a good idea to go for a summer internship first if you are a switching career from Engineering to trading ? Do the BB firms typically hire career changers for a summer position ? It appears that there are not very many jobs available at this time for a full-time S&T position.
Any suggestions are welcomed. Thanks.
i dont understand your question. are you not contemplating doing an engineering internship thinking that it will be harder for you to get a trading job if they see your engineering experience on your resume? if thats the case, complete nonsense.
if its not, elaborate
I have been out of school for about 5 years now. I am currently working as an Engineer in Seattle, WA. I am trying to break in the trading arena. I have been successfully trading in my personal account for the last 3 years. Ideally, the full-time analyst position would be better, but if I cannot get a full-time position, I would try to apply for a summer internship.
ah, totally misread that one. can't say i'm qualified to answer this question, sorry
Engineering --> S&T (Originally Posted: 12/23/2012)
How difficult is it to get into a BB quanty S&T role after graduation from a top 5 engineering school that is not a target, assuming a 3.5+ gpa with only engineering internships and experience, along with perhaps some finance classes that show interest?
i know of a bunch of PM's and traders that have engineering degrees...
Just HAVE A PERSONALITY, and you should be fine.
When I have to interview, I don't want to see this sitting across from me:
I'm also interested in this.
Is there any group in particular someone with this type of background would have the most luck?
Also, assuming you were to get an interview, what type of questions would they expect you to be able to answer aside from technicals?
It's all going to come down to how well you network, and what your specialization is...
Good: Software Physics Applied Mathematics
Bad: Civil Geological
You get the idea.
Engineering to Trading (Originally Posted: 09/23/2007)
Is it possible for an Engineer to switch to trading without having a MBA ? I graduated about 4 years ago from Rutgers University with a B.S. in EE. Based on my research, I am thoroughly convinced that I want to be in trading. Most of the top schools do not seem to offer MBA online. What are my chances of getting in the field without MBA ?
Any other suggestions are welcomed. Thanks.
From Rutgers??? You better have a 4.0 and a ton of connections!
You're going to need an MBA to even have a chance.
Don't listen to people who tell u that u need qualifications to succeed. I am an undergrad doing Engineering and I have an interview for a trading position this week. All u need is to really want it and do whatever it takes to get it. Like attending info sessions, making contacts, etc, etc. That's not to say that an MBA wouldn't help...good luck!
^I think you missed the point where he graduated 4 years ago. People are suggesting an MBA because it's usually a successfuly way for career engineers to make a transition to s&t.
Is it true that the hiring system is set up to automatically hire only the new graduate ? If yes, then I would have to go for an MBA. However, my biggest problem is that none of the top 15 schools is offering MBA online. I am not sure if doing MBA at a mediocre college will be of any use.
I have been trading in my personal account for the last 4 years, which makes me a signicantly better candidate than someone coming fresh out of school. I find myself in a situation where I have to ask opinions online as the two career counselors I talked to were understandably clueless about what I should do.
Any suggestions/comments are more than welcomed. Thanks.
Most top schools do not have an online MBA program because these programs are widely regarded as garbage. Having an online MBA would not increase your chances of a S&T job at all. Why are you so focussed on doing the degree online? Just to be clear, the fact that you have traded in your own account adds nothing to your skill as a market maker, so don't kid yourself. Sales and trading at a legitimate financial institution has nothing to do with stock picking, so beyond showing market interest, these qualifications you claim to have gained are imaginary.
A career switch from Engineering to trading (Originally Posted: 04/01/2007)
I have been reading books on trading, have a thorough understanding of options theory, keep up with the current events and trading on my personal account. If an engineer wants to switch the career into trading, how important is the experience of trading stocks on Internet would be for getting the job? In other words, if you have a personality for trading and also an experience, what are the chances of getting in the trading industry without actually having the finance degree ?
Any other suggestions to enhance my chances of getting a job in the trading industry would be highly appreciated.
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