Back office to Front office transition; Master's in Finance

A

ahead

Dear All:

Question for the folks working at financial institutions…

I am 37, have an MS (and an unfinished PhD) in an exact science. I've had a successful 13-year career in IT, now working at a large bank, making £82K base.

Want to make a transition into investment banking, with structuring or trading as an ultimate goal.

I've learned quite a bit about the markets, and have gone through Hull, and feel very comfortable with the material.

I've reached out to a few of the internal hiring managers, but none of them were interested, siting lack of experience in finance, and the fact that I am already at a VP level.

I now also have an opportunity to get Master's in Finance from one of the leading business schools. However, the admissions director said that the degree will not necessarily help me move from the back to the front office in the current market.

Anyway, here are my questions to the combined wisdom of this forum:
- Any tips on how to make such a move, anybody here who have gone through a similar transition?
- Will Master's in Finance from a leading school help?
- What is the best way to get recruiters interested and calling me?
- Is this move achievable, or am I late to the party?

Thanks.
 
Quote from ahead:


Anyway, here are my questions to the combined wisdom of this forum:
- Any tips on how to make such a move, anybody here who have gone through a similar transition?
- Will Master's in Finance from a leading school help?
- What is the best way to get recruiters interested and calling me?
- Is this move achievable, or am I late to the party?

Thanks.
More...

Even i the best of times, a Master's in Finance is ... not great for IT to front-office transition. In fact, these programs are full of people who want to do the exact same thing. Its placements tend to reflect exactly that.

These times.... zero chance. Front office people are having issues getting back into front office.
 
You need to be talking to people in the area you want to go to work,
They will answer your question correctly.
I would say you keep your job.
maybe take a night class or online class maybe you can do some classes in your free time.

Try and get a job in the area you want to work.
Make good contacts in the business.

I would also talk to the career counslors at the University and ask who is coming on campus and what the hiring is like.
It may be shit.
If they have a good placement program and the jobs are available then do it.
What jobs are being offered?
Seems like tons of finance people out there out of work right now?
What is the employment rate right now in the job area you want?

also put your resume out there and maybe tailor your resume for the job you want.
 
Quote from TraderZones:

Have you been lost in Antarctica the last 9 months with no access to financial news?
More...

Haha lost in Antarctica, that's funny.

If all the input I wanted was from the media, I wouldn't be posting here, right?

I was looking for some useful insight from the folks working at big-name IB shops. My intuition tells me that you are not one of those folks
 
Quote from Eddiefl:

Stick to IT, do you have a career where you re actually paid and the paychecks dont bounce, then be happy,

EF
More...

Granted, people are getting laid off left and right, but bounced paychecks... Haven't seen much of that, even in the financial news. Dude, things must be really rough in your neck of the woods.

Thanks for the note anyway. Staying put is certainly an option, I just don't find my line of work stimulating enough anymore.
 
Quote from sjfan:

Even i the best of times, a Master's in Finance is ... not great for IT to front-office transition. In fact, these programs are full of people who want to do the exact same thing. Its placements tend to reflect exactly that.

These times.... zero chance. Front office people are having issues getting back into front office.
More...

Good to finally hear from someone who knows what the f.. he's talking about.

Dumb&dumber comes to mind... zero chance is still a chance!

Good feedback, thanks.
 
Quote from ahead:

Dear All:

Question for the folks working at financial institutions…

I am 37, have an MS (and an unfinished PhD) in an exact science. I've had a successful 13-year career in IT, now working at a large bank, making £82K base.

Want to make a transition into investment banking, with structuring or trading as an ultimate goal.

I've learned quite a bit about the markets, and have gone through Hull, and feel very comfortable with the material.

I've reached out to a few of the internal hiring managers, but none of them were interested, siting lack of experience in finance, and the fact that I am already at a VP level.

I now also have an opportunity to get Master's in Finance from one of the leading business schools. However, the admissions director said that the degree will not necessarily help me move from the back to the front office in the current market.

Anyway, here are my questions to the combined wisdom of this forum:
- Any tips on how to make such a move, anybody here who have gone through a similar transition?
- Will Master's in Finance from a leading school help?
- What is the best way to get recruiters interested and calling me?
- Is this move achievable, or am I late to the party?

Thanks.
More...

Late to the party, I'm afraid. Recruiters will not roll the dice on you as they have a thousand folks with the experience they value more (and no slots to fill them in).
Despite your VP title, an MBA would set you up for an associate level position at a bank...and you would likely be the oldest one by quite a bit.
Update this thread with what specific "front office" job you are looking for and maybe you will get a bite. It's brutal out there, but things will be different by the time you finish school.
 
Quote from 1flyfisher:

You need to be talking to people in the area you want to go to work,
They will answer your question correctly.
I would say you keep your job.
maybe take a night class or online class maybe you can do some classes in your free time.

Try and get a job in the area you want to work.
Make good contacts in the business.

I would also talk to the career counslors at the University and ask who is coming on campus and what the hiring is like.
It may be shit.
If they have a good placement program and the jobs are available then do it.
What jobs are being offered?
Seems like tons of finance people out there out of work right now?
What is the employment rate right now in the job area you want?

also put your resume out there and maybe tailor your resume for the job you want.
More...

Txs, Flyfisher.

Yes, good point about keeping the job - if I do go for MiF, I'll go for the part-time program.
 
You must log in or register to reply here.
Back
Top