Trying to figure his way out into finance
Hey guys, im 22 years old in toronto and about 6 months into working as an Analyst for the governments it health agency. I know that i have got a long way (4 -6 years) before I try and make the jump into finance. I've completed a 3 year diploma in Business admin and a certificate in project management and am about to start part time at a downtown toronto university to get a degree in finance. After that is finished in 2 years i'll be hunting for my MBA... My question to the community is before I spend the next 4 - 6 years at this government agency how would my work experience as a Analyst in the Health Informatics industry be perceived to companies in the Financial Industry?
Hmm...
Frankly, Ryerson is just going to be a big waste of money, TRSM is sort of a joke and people in Toronto only know it exists because they shop at the Eaton Centre and the "B-school" is upstairs. If that's where you have to start then kill first year and transfer to Schulich or something.
As for the value of your public sector IT career, you'll be able to spin what you'll be able to spin by it... what I mean is that there will be talking points to glean from your experience but not 4-6 years worth. I understand that you probably need the money at 22 and you can't go to school full time but at worst I would recommend another year (just to see some advancement and responsibility growth) at most in your current role. Find some sort of compliance/operations/Back office IT/Client Relations job in finance that pays the bills because at the end of the day, nothing says finance experience like... surprise, surprise... finance experience. Although you're older and the clock is ticking, going for an MBA 2 years out of a less than mediocre school is going to put you in a University of Phoenix Online vs. DeVry MBA situation, but I don't need to tell you that you'll figure it out.
If you can, borrow some money and go to school full time and transfer to a MUCH better business program; with a 3 year diploma you should be able to hack that down to a 2.5-3 year process.
Godspeed and goodluck, IG
you honestly believe in giving up the income to go to school full time?
and i forgot to add that my current work could also allow me to get my PMP... because i would be an analyst on a lot of different complex projects ... do ibanks and consulting firms even care about that sort of designation?
and have you ever any of you heard of people working full time, in an MBA program Part time and Studying for the CFA?
ok lets break down this hypothetical time line... 2012 - $50K + start at ryerson (i tried to keep it a secret and you guys caught me on it lol) + analyst 2013 - $50K + switch and continue at a better school + analyst 2014 - $60K + finish degree at better school + analyst + PMP certification completed 2015 - $70K + start MBA + Senior Analyst 2016 - $70K + continue MBA + Senior Analyst 2017 - jump into an asscoiate or consultant role????
Yeah IG is spot on. Ryerson is not going to help much. You should try to transfer into a better program for undergrad and try to get in via recruiting that way. And if you go via the MBA route (I'm assuming you're looking at Canadian MBA programs), look at the profiles of current students there to get an idea of what kind or quality of experience is needed at places like Ivey, Rotman, etc.
You can take IG's advice or leave it... but banks don't really care about PMP. Relevant experience reigns supreme end of the day.
The only two designations that get some looks in Canada is CA (whereas CPA in US doesn't mean much in US) and CFA (in a sense that people - generally those with non-finance b/gs - use to show they are interested in finance). But CFA itself is really not necessary for banking.
You're much better off going to a strong undergrad program (Ivey, Queen's, McGill... or UofT, Schulich, etc.) because they have on campus recruiting. Even at UofT and Schulich, students still have to be top or near top of their class to compete for local large IBs vs. the target schools. Not to say it's impossible for someone to do it out of Ryerson, but unless you have connections, it is a very steep uphill climb.
You're giving up income short-term for greater opportunities long-term.
I have no comments on part-time MBA... but if they don't get the same access to on campus recruiting or networking events, then it's pointless.
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