Advice on whether to enter the financial sector (Non-finance graduate)
 

Dear Forumers, I am honestly asking for advice and hope to hear from you all . I am actually open to suggestions in other fields pay well and are open to a mid-career change.

The reasons I am considering going into the finance sector are:

1) I'm giving up my research scholarship due to severe animal allergy which I have developed.
Because of this, I'm slapped with a huge debt to repay, in the range of $XXX'XXX amount of money.
I really need a higher paying job than another job in research.

2) The pay would be better than what I am getting.
(i work 80hr++/week) with $50 increment / yr.

3) No huge density of furry animals.
(I have no desire to slowly kill myself everyday, taking lots of pills just to be able to do my job well)

A bit of my background:
- I have a lifescience degree (overseas) 2nd upper hons. Worked in research for about 7 years.
- Have worked as marketing in an MNC for about for less than a year (contract-basis)
- worked in a number of holiday/ad-hoc jobs ranging from clerical to agricultural.
- Very flexible and adaptable character, and willing to work extremely hard, start from bottom.

Many many thanks in advance!

Honestly, it's next to impossible for you to get into the finance sector at this stage, unless you're open to selling insurance (and if you consider that finance).

Ohh.. Is it more due to the economy now, or is it due to the fact that the finance industry is not keen on mid-career changers/more fresh graduates than jobs available?

Yes to both. Have you started looking for jobs? I'm guessing you may get a chance with finance firms like legal money lenders and bigger ones like Hong Leong Finance, but is that what you want?

Thanks for the advice! I'm starting to look for jobs now, and I'm wondering if it is worth getting a temp admin job at the bank and try to get a job when I'm inside the bank. I do not mind doing sales within a bank too.

As for what I really want, now that I am older, I am surer of a few things.

- One is the desire for monetary rewards for slogging my gut out. (I know I seem very much like a money digger.) Parents are retired, and one is not medically insurable and in bad health. I cannot live with a 3k/month salary with increments of $50/yr, and still afford the medical expenses.

- Progression in career ladder

- Interacting and dealing with people, as I've had enough isolation with animals and bacteria.

given your experience and skillset, you may be able to join research, consulting or transactions advisory teams that cover the healthcare/biomedical industry.

for example the team covering pharmas/sciences at pwc: Pharmaceutical and healthcare

good luck

Thanks for this idea!! :D

It won't be easy. Have you considered teaching in a poly? It should be easier to get in but I've heard there are many rejections too (but won't be as many as in banks).

I've asked around, and only one previous lecturer was honest enough to tell me that, they require a minimum of masters degree before they will consider hiring. :( There seems to be an overwhelming supply of PhD and masters graduates who leave research and go into teaching.

Honestly v hard.

Your age and your background works against you. If you really want it, you can trying taking an MBA to switch careers.

FYI, there are tons of finance resumes out there from people who were laid off last year, plus alot of western bankers wanting to come to Asia.

but if u really determine to succeed, can try property agent or other forms of sales. Alot of army regulars who left service work these lines.