Career switch, with a masters in finance?
Graduated from a target undergrad 5 years ago, math major. I've been in marketing&data analytics for the last 5 years at the same company. Low job title - I am not a manager, although that could change in the next few months.
I'm looking to switch careers to finance.
Normally the advice I read is to go to a T7/T10 MBA however I would have a very weak app. I have (1) zero finance experience and (2) am not a manager at my current job. I don't really want to go $200K+ into debt unless it's a T7 MBA program.
I've been thinking about getting a masters in finance, and possibly recruiting for Big 4 Advisory/Strategy, Tier 2/3 consulting, or even equity trading firms (If I can learn something before a strategy blows up).
Long-term: I like restructuring, leveraged finance, structured finance. I like what ECM/DCM groups in banks do and would eventually try working there. Open to an MBA after some relevant job experience.
Life-wise: I do not want regular 80-hour work weeks. 50-60+ hours a week is fine. Working until midnight a few times is fine. But not everyday for months.
I go to sleep at 10PM and get 8 hours of sleep. That's really important to me to maintain that as much as possible.
A little bit about where I'm coming from and why I'm making this change:
I make roughly $100K, 40 hour workweek. Lots of R, Tableau and SQL. I am simply not interested in my work, and I don't see the income growth that I desire.
I did a 1 month-long stint for a non-profit in my free time, where I did real estate valuation/modelling, and I thought that was more interesting than anything I've done in 5 years.
I find finance interesting, I read the WSJ regularly for fun. I also want to make $200K/year sooner rather than later.
Based on the most helpful WSO content, here's what you need to know about switching to a finance career with your background:
Key Considerations:
Current Experience and Background:
Career Goals:
Educational Path:
Recommendations:
Master’s in Finance (MFin):
Networking and Skill Development:
Job Prospects:
Alternative Routes:
Additional Insights:
Conclusion:
Switching to a finance career is feasible with a Master’s in Finance, but it requires strategic planning, networking, and possibly starting at a lower level. Consider all educational and career options, and align them with your long-term goals and work-life balance preferences.
For more detailed advice, you might want to explore specific threads and resources on WSO related to career transitions and finance education.
Sources: Career switch from journalism to finance...how to go about?, Finance Career Path & List, Over 30, still no undergrad, finance career options?, On the off chance Investment Banking doesn't work out for me, Recent grad, super lost. Can anyone give advice/help me choose between an MBA, JD, or MA?
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