Hello, I am currently 27 years old and have been working as a dietitian at a hospital for the last 5 years in Connecticut. 2 years ago I realized I was unhappy with my career and decided to switch to finance. I found the field interesting and would love to work in investment banking one day. To gain a competitive advantage, I will be finishing up my MS degree in Finance this semester (nontarget) with a 4.0 and taking CFA® level 2 this June, passed Level 1 above the 90th percentile. I am also completing the WallStreet Prep course for PowerPoint and Excel (modeling). I am attempting to network with other schools recruiting events to gain exposure to firms as well. My goal is to demonstrate to employers my discipline and seriousness for entering this industry.
My questions are:
- Am I too old to become an analyst at an investment bank? I do have professional work experience, but in a totally separate industry. I am not sure if this counts.
- Any other advice that may help increase my chances?
Thank you so much,
Dave
It will be very hard to get into investment banking (CFA is useless and you are out of their age range), but there are so many more options other than investment banking that would love to have a CFA Level II master in finance grad that you would probably enjoy a lot more (not many people like banking).
Okay. Thank you.
Can you provide some examples of the many more options other than investment banking?
Nothing you can do about it now, but my advice would have been to go for an MBA instead of the MSF. Associate recruiting is very strong at the top 15 schools and doable from the top 20/25. I can understand how hard it may be to stomach the idea of another 2 years of school, etc. but that would be your greatest opportunity to break in given your age and background.
Thank you. I figured this out around half way through the program. I did not realize how pertinent the type of school you went to helped getting good jobs in finance as it wasn't really like that for my current career. The other problem was that I couldn't stop working while doing the MS program and studying CFA. I was able to keep my current job while taking classes with a doable commute.
I do know some people at the associate level who work at the big banks and I am creating better relationships with them as time goes on. They may be able to help me once I graduate and if I pass level 2.
I have no problem doing an MBA later in my career (early 30's), but I need to start working in the industry ASAP. I feel behind and I know I have a lot to give.
Dave
I don't know the US scene very well, but I think some of the advice on this thread is exaggerated. You do have a chance and you're not 27 with no experience, you have 5 years of something else. Perhaps you may have a better shot in Europe than the US, but you can certainly aim for HC banks, F&B banks or similar activities. You'll just have to accept that you may be the only 27 year old Analyst. But honestly, does it matter to you?
Dave, I sent you a PM.
After 10 years of banking hours in a desk job and Seamless orders, can you advise on how I can transition from investment banking to dietician?
Sure, to be an RD (Registered Dietitian) it takes 3 steps. You have to attend an accredited university that completes the core competencies. I'm from Connecticut, I know the schools that cover these competencies are the University of New Haven, UCONN, and Yale (may be more now). It is usually a four year BS degree, but assuming you already have an undergrad degree you probably only need to take the competency courses. These include topics like how to administer enteral and parenteral nutrition in a hospital, medical terminology, nutrition and disease, sport nutrition, etc.
The second step is you need to complete an internship which is generally an entire year after you complete your degree. These are competitive but if you have a GPA ~3.7 you will be fine. However, these internships are not paid and YOU pay for the internship. It is pretty much another year of schooling but it is all hands on experience such as clinical work in hospitals, nursing homes, counseling, etc.
The third step is you take your board is exam. That's it. You're an RD.
Here are my personal opinions of the pros and cons about becoming an RD Pros: 1. Relaxed Job 2. Job safety if you are working in a hospital or healthcare 3. Network and work with many intelligent individuals such as doctors, surgeons, PA's, APRNs 4. RD's can work in many type of work environments such as hospitals, nursing homes, private practice, management, food service, universities, sports teams, super markets
Cons: Prevalence in the reasoning as to why I am leaving the field 1. Unmotivated workers, patients, and clients. This is the main reason why I became an RD in my early 20's. I became really into fitness and it helped me become more confident, energetic and work towards my goals every day. It still helps me staying motivated with finance and studying CFA every day. The majority of people in the world are lazy and don't want to work towards their goals. I realized I could not motivate people and it frustrated me. I decided that I need to be in an environment where people have my work ethic, drive, and goal of leaving a legacy before they are dead - wanting to be successful and not realize they could have done more when they are in their 70's. 2. Pay - if you stay as a clinical RD don't expect to make more than 60k per year. You can make more if you become a manager of a food service director in a hospital. I could have moved up, however, again, the unmotivated worker comes in here. If you move up to management you will be managing tray passers, cooks, and people who will call out every day and aren't professional. I won't accept that for myself. Bottom line, the return on investment is not worth it. There is this saying that becoming an RD is for woman with husbands who make a lot of money. 3. It gets boring. If you stay as a clinical RD, you just see patient's every day that come in the hospital. It is very rewarding when you can help a patient's nutritional status and make their discharge home with better quality by managing their tube feeds or TPN correctly. I work on the cancer floor, so it is more interesting for me. Unfortunately, I see a lot of patient's pass away and it takes a toll on you.
4. You are secluded from the outside world and I felt I didn't even know what the stock market or the economy meant 2 years ago and now I am learning how to price currency swaps in derivatives. Yesterday my coworker's asked why the stock market was increasing at 4 pm when Trump was talking test kits for COVID19...
That is my take on it. Hope it helps and enlightens you a bit. Dave
Oh and by the way, your age will not matter if you transition into becoming an RD.
Oh god, you sent me a very serious response to a joke. I'm sorry. Hopefully someone finds this information useful.
this is a troll post right
Going 5 years dietician -> IBD is about as ridiculous as going 5 years military -> IBD or 5 years engineer -> IBD or 5 years social worker -> IBD
So what are you saying?
You couldn't have picked a profession more different lol. Forget eating healthy, forget working out, forget being in shape. Forget everything you have learned thus far.
ok.
Focus on boutique healthcare firms.
To voice others, boulge bracket IB is really hard to break into without a cookie cutter background in finance and banking. Tough truth is that inernal recruiting will be your biggest enemy, any career shift comes with questions of career loyalty because hours in IB are so tough, they will want assurances you are in it for the long hall.
Competition at bulge bracket is also VERY tough because you will be competing with graduates who "Fit the mold", unless you have an inside track and netowork getting an interview will be a mountain to climb. Also with the increase in hours and cut in comp, going this bulge bracket route has been debated to other middle market shops where you can get solid comp and quality of life.
Best bang for your buck (time wise) would be to approach boutique IBs who focus on healthcare, or have teams in the consumer goods, or dietary suppliment space. After you get three or more years of experience under your belt, if you really want to, you can approach bulge bracket banks at the associate level (at early 30's thats not impossible).
If you really wanted to, I could also see you applying your expertise on the investing side at a PE or VC firm who is looking for a specialist to advise them on consumer goods and dietary suppliment portfolio investments. You could then transfer this experience and move to IB side if you wanted.
Overall, it is a very tough transition, but honestly I have seen and heard crazier stories in this industry than yours. Nothing is impossible, work hard and don't take no for an answer.
Thank you. I will print your response out and post it on my mirror. Dave
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