Mid-career switch to banking and finance?

Are you considering a mid-career switch to the lucrative finance sector? Thinking of becoming a private banker, or work as a financial analyst crunching numbers in an investment bank? Hoping for more money and big bonuses coming your way? Are you an engineer thinking of doing some finance courses (CFA, MFE, CMFAS, IFPAS, etc.)?

Think again. It's probably too late if you're already in your 30s. You should have started as a fresh graduate.

Even if you have all the "necessary qualifications", why should they hire someone with no relevant experience?

Even if you are prepared to take a pay cut and start from ground up, why should they favour you over the hordes of fresh graduates who can do back flips? Moreover, you still gotta unlearn what you pick up in your previous jobs, whereas the fresh graduates are perfectly malleable.

There are some interesting discussions on this topic in delphiforums.

http://www.salary.sg/2007/mid-career...g-and-finance/

is the finance industry really that lucrative now?

I switched from doing business development in technology companies to private equity/VC when I was 30. At that time I was too poor to do an expensive MBA but took part time programs to strengthen my knowledge in this sector. I eventually did do an Executive MBA with Chicago when I was 35 and went on to work in HK with one of the large IB. Still alive after the financial crisis, pay is good. My first degree was a Science degree, one of the lowest in the pecking order. Finance industry is a large sector, don't always look at IB and private banking.