Non-target with engineering degree... what are my options
Hey gentlemen, I'm a computer engineer graduate who's hoping to get some advice from the community. I'll try to keep it concise and to the point so here is my background:
1) I've already graduated.
(Do banks have post-bachelors/ pre-MBA internships?)
2) I graduated with a non-finance degree from a non-target university in the southwest. My university isn't even a target within the realm of engineering either, unfortunately.
3) I don't know anyone or have any connections with anyone in the finance industry. (Should I just get in touch with my alma mater career service or something?)
4) I do have a good gpa, 3.9, in what I consider a hard major.
5) I did some engineering internships at some prestigious companies within the realm of CS/ EE/ CompE - again probably doesn't mean shit with respect to getting a job in banking. (It wasn't an IT role, strictly design/engineering work)
6) I know how to program and do it as part of my daily job. I work in the realm of embedded systems for a government defense contractor so my work is/has to be very reliable (I make sure things go BOOM when and where they're suppose to). I'm not sure this is even a desired skill to have, but thought I'd name it off.
I understand I have an uphill battle, but I'm young and willing to take the risk. I'm definitely new so I may not know really what I want to do in banking, but the things appealing to me from what I've read are equities research and distressed M&A. They may not be very related but nonetheless both seem interesting. Also, it seems with my background that I may be a better fit in a quant position, which I'm open to the idea of, but doing graduate/ PhD level mathematics seems mind numbingly boring (programming I'm fine with though). So how should I break into the field and eventually get into one of the above roles? I assume that at one point I'll either have to get into a top MBA program or MFE (to be a quant), but I'm not sure at this point I could get into a top program of either with my background. Is it realistic that by reading the WSJ, finance books, and then start cold calling will get my foot in the door? Thoughts, suggestions, and even criticism are appreciated.
tl;dr: Non-target engineering graduate looking to break into banking.
You could definitely become a quant developer at a prop shop or bank with a little bit of effort. I think you should talk to IlliniProgrammer. He might be able to give you some good advice.
As long as you have the math you should have a decent shot at top MFEs, I would think it would be a decent idea to throw out some apps for those programs, you also should consider becoming a structurer.
Ok, so it sounds like the best route is by going through a financial engineering program - it is good to hear that I have a shot of breaking into a top MFE program. Looking through some class profiles there are a lot of CFA charter holders and most have finance work experience (it is even recommended on some admissions sites that a finance internship at a minimum is recommended before starting the program). Since the internship may not be plausible since I've graduated already, do you think the CFA would be valuable?
No the CFA isn't really something that is hugely important for people outside of PWM, ER, AM and the like. On mergers and inquisitions (a site you should look at) they say you'd be better off networking during that time, I agree. Now the other option is to do an MSF, since your interest is mostly in M&A/ER this is probably better suited for that. You'll need to take the GMAT which shouldn't be too difficult (quant is very easy for engineers and by the way that you write I assume you're a native speaker which makes verbal much easier). If you go that route the MSF is a lot less technical but can help get an FO role in M&A/ER.
My original reply didn't go through so I'll try to just sum it up best I can from memory. Thanks for the advice and the reference to that website (both were very informative). It is nice to have a game plan and I'll be looking further into the MSF programs. Would you recommend I try to apply directly to a MSF program or try to get an entry-level position and get some experience under my belt beforehand? If I should be looking for jobs do you have any suggested titles and roles I should be looking for that I would have a good shot at, i.e. "Junior Analyst"? I assume that my search should be limited to some MM and boutique firms.
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