I am 27 now, and 29 when my bond as a teacher ends (I have to pay LD if I quit now)
1) Will I be too old if I enter into finance at this age? I have 0 finance experience. (2.5 years in army and 4 years as a teacher)
I am living in Singapore. I will be very grateful for any comments given.
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It's not too old, I interned at 28. You might be better off just getting an MBA and save yourself a couple of steps.
It's never too late. Harder? Sure, but never too late. Use your spare time to do any legwork you can at the moment. How much is the LD cost if you break? I imagine the earnings difference of finance vs. teacher for 2 years is probably equal to or greater than the cost of leaving teaching, so it's worth applying now in my mind. Nothing worse than donig a job for 2 years which you know you'll be leaving.
Agree with the above posters, never too old. I know people personally who are MDs at different banks that got into finance in their 30s. Because you're non traditional the best options for you are MBA or through networking. If you have a decent GPA (3.5+) and crush the GMAT you will be a strong candidate for a Top MBA program. 4 Years in the Army and teaching abroad is actually tremendous in terms of applying to MBA programs.
Thanks for your comment.
Actually for the past 2 years, I am trying to get as many academic credential as I can as I hope this can help me make the successful switch. I passed my CFA L3 last year and scored 750 on GMAT. I am taking FRM part 1 and 2 now (I know they are worthless without any experience). This year, I am applying to a MS Finance course in a local university.
Just to share, I graduated with a major in finance from National University of Singapore. I am very stupid to think I will actually like to spend the rest of my life teaching high school kids at that time. I was wrong. I missed finance a lot and thus wanted to go into finance once my bond ends.
The cost of the bond is $70k prorated for 3 years (I done 1 year).
Look at Insead and LBS if you're located in singapore. Much cheaper than US MBA's
Apply to top 5 schools NOW, start networking, and forget the rest of the BS credentials. Your stats are fine
get your MBA.
Apply to top MBA programs this fall.
You seem to have the credentials for being competitive at one of the better business schools. What you seem to be needing some work on is your story - make some badass essays and make something up about how everything you've done up until this point has lead you to want to go to business school to transition in to finance, and apply to the top ten or so programs. If you display confidence, your achievements should be enough to get you in to at least one, which will be the best platform to get you where you need to be.
Network, Network, Network
Apply for B-school for next year. Your best bet, as others have said, is on campus recruiting and networking from a good school. As far as leaving teaching early, if you can find a good position with decent pay, maybe it's worth leaving early and paying the bond. Even putting aside the money you would have to pay back you could likely still earn more than just being a teacher and get going in the career you think you want to be in.
Regards
^ very true
Another option is to find some kind of short term / part time internship and work it into your schedule to demonstrate interest during the remaining time as a teacher. Honestly, you don't need any more certifications, you need work experience + build a network. If nothing else, and you stay to the end of your term, start reaching out to people now.
Simply: get a part time job at a local brokerage or something, stick it on your resume and create a linkedin account. Then, start reaching out to everyone and spend your free time buying coffee/drinks for finance folks. Time your start date at bschool immediately after your term is up.
Thanks for all input.
I will try get an internship during my June and November school break. Hope they can take me in as an unpaid intern.
I will also try my best to network
No bro apply for b school NOW.
http://www.hbs.edu/mba/admissions/applicationdates.html
You still have time for round 3.
oh hey grandpa what are you doing here? friday is bridge day down the club
Your priorities are: 1. Apply to Bschool. The better schools are age discriminate, and for some very good reasons, so you have 1-4 years before it becomes extremely hard to get in. 2. Network with (A) financial people, (B) finance alumns and (C) military financial people. The military finance network is very influential....you've paid your dues, now get yours. 3. land a part time internship so you can 'demonstrate interest'. If you get an offer, great. If not, it doesn't matter and you're just doing this to have something 'financy' on your resume.
I knew a 32 yr old MBA that go into Banking!
Man...They make you pay extra for being retarded/LD/learning disorder?
One question, how is the bond structured? Are you required to pay it immediately? Can you get a waiver if you say you are going to school with the intent of coming back to teaching even if you have no real intention of that? If so you can push off the payback until after you finish your MBA. I have heard of people who were able to get their bonds waived completely when they go back to school. Just don't tell anyone you have no interest in coming back to teaching.
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