My plan for breaking into finance sector

Originally Posted by alwaysnforever

Currently 27 this year, and I am studying for my gmat, and will apply to SMU's masters in applied finance next year. If all goes well, I will grad at age 29/30 depending on whether I take full time or part time studies.

I am currently in the public sector, and as I have no real skillset in finance, I think this will be the best option for me to break into to that sector, with a higher notch above the fresh grads.

Comments?

I suggest u ask around first and find out whether top tier financial inst actually hirefrom smu at an assocaite type level (as opposed to analyst level, no diff from fresh grad). Otherwise wasting time n money

[Anonymous]

I strongly suggest you do an MBA overseas rather than the applied finance course. The options available to you will be significantly increased. You might be thinking of going into investments, or IB, etc (although it is not easy). They tend to hire MBAs over the rest.

[alwaysnforever]

Originally Posted by Unregistered

I suggest u ask around first and find out whether top tier financial inst actually hirefrom smu at an assocaite type level (as opposed to analyst level, no diff from fresh grad). Otherwise wasting time n money

quite a number of financial institutions hire associates at the masters level, although it may be a lot trickier to know if SMU is a msc finance school they will consider. I could do an associate level programme at a local bank before switching over to bigger banks and BB.

Originally Posted by Anonymous

I strongly suggest you do an MBA overseas rather than the applied finance course. The options available to you will be significantly increased. You might be thinking of going into investments, or IB, etc (although it is not easy). They tend to hire MBAs over the rest.

An MBA overseas is too expensive currently... I am pretty much only interested in equities research and fund management.

[Anonymous]

Originally Posted by alwaysnforever

quite a number of financial institutions hire associates at the masters level, although it may be a lot trickier to know if SMU is a msc finance school they will consider. I could do an associate level programme at a local bank before switching over to bigger banks and BB.



An MBA overseas is too expensive currently... I am pretty much only interested in equities research and fund management.

hmm... good luck. equity research maybe still got slim hope but fund management, i must say is really fat hope with 0 experience and a msc in applied finance after being in the govt. im just being honest.

Originally Posted by alwaysnforever

quite a number of financial institutions hire associates at the masters level, although it may be a lot trickier to know if SMU is a msc finance school they will consider. I could do an associate level programme at a local bank before switching over to bigger banks and BB.t.

Get the facts before you leap. Ask friends or friends of friends who are working in the type of roles you want to underatand how and where they recuit. Use linkedin and contact alumni of the smu program to see where they landed and how their job search worked out. Etc. No point thinking in terms of could be and maybes and wasting your time doing the smu program if its not going to help

[alwaysnforever]

Originally Posted by Anonymous

hmm... good luck. equity research maybe still got slim hope but fund management, i must say is really fat hope with 0 experience and a msc in applied finance after being in the govt. im just being honest.

no one is going to do fund management with 0 experience. I am saying fund management is my end game goal...

[Anonymous]

Originally Posted by alwaysnforever

no one is going to do fund management with 0 experience. I am saying fund management is my end game goal...

hmm... perhaps I should put it this way.
i suppose you know how competitive it is to get into investment banking right?
the number of private equity jobs is but a small fraction of that. maybe 1 in 10? if you are thinking hedge fund, even smaller. That's why I said good luck. Even if you somehow get in (miracle) the half life of most funds is what, 6 years? Suggest you get a sense of exactly what the fund management business is about, and do a reality check.

1) ur age works against u.

2) ur background works against u (no financial experience).

3) ur sch works against u (SMU).

For (1), cannot be helped. cos we got to serve 2 yrs of NS plus u made the wrong choice of joining the government.

For (2), if can, quit n find a finance job/internship. does not matter if it is a big or small company, or front or back office or wat. Employers want to see that u r want to join the finance industry in your resume.

if u really wanna be serious, like others suggest, pls get an overseas Masters. Otherwise front office positions u can really kiss goodbye already with your background. Equity research is considered front office.

n really from your replies, i think u have no idea of what you are getting into. another one of those government workers who thinks they are lowly paid and wants to enter the finance industry. Ask what they know, they say equity research cos i buy stocks on my own. Nobody cares abt ur trading record honestly.

Only ur sch brand + relevant finance job exp + age matters.

Originally Posted by alwaysnforever

yes sell side analyst. Both fund manager and the analyst requries you to study the equities carefully and the valuation of the company, which is what I am interested in.

Originally Posted by alwaysnforever

yes sell side analyst. Both fund manager and the analyst requries you to study the equities carefully and the valuation of the company, which is what I am interested in.

Where to start?

1. Your answers so far suggest that you have close to zero understanding on the role of a fund manager as well as the myriad of business models and trading strategies of the money management world.

2. If you think a sell-side analyst’s key job is to “study the equities carefully and the valuation of the company”, you are in for a rude shock if you ever get the job.

In terms of banking prospects, you age, experience and the MBA you want to take, I think other forumers have already articulated clearly enough for you, no need for me to elaborate further.

What I can tell you is this – You need to grow up and do some serious research on what Finance/Banking/Investment is all about before wasting money and time on a Finance MBA. You are operating purely on an individual small timer buy stock sell stock manner and your understanding of the Finance world reflects that.

If you are not convinced by the sharings of experienced forumers here, then find some way and talk to an investment insider with the same silliness you are talking here, I predict he/she will have a good laugh and recommend you stay in the civil service as well.

Here's my path into investment research:

1. Graduated from local school. Top 5% of cohort. Finance related discipline
2. 3 years experience in banking line doing other front office roles (in bulge bracket)
3. No MBA

Advice: Timing. Luck and networking. Got the job purely because I knew the right people and waited for sometime till they had a headcount. This plus a personal recommendation from a friend to her boss.