|Author||Topic: Career switch from manufacturing engineer to an investment job with an CFA|
I have been a manufacturing engineer for the past 7 years and am thinking of a career switch to finance, which I am interested in. At the age of reaching 35, do you people think that it is advisable to take the risk now? I have a family to support too.
I am thinking of going for CFA.
Is it too late or should I just stay in Engineering field forever?
Just want to hear some inputs.
|one wonders what r ur plans ri8 now? r u expecting any big salary change thats not always possible , y dont u jusr do any advance level engg course like msc or Phd to easily double ur income , u can become a uni teacher then and enjoy all benifits nd leave the industry job .
well no one wil stop u from cfa too but it s abiggy job now , 3 yrs edu almost then career switch, initial training , then exp huh ,
|Maybe I can provide you with some insight and able to advise since I am also previously from the engineering field. For me, I graduated with an electrical engineering degree (Hons) and worked as an engineer for a few years.
That time, no one really gave me good career advice and I actually took a big risk by taking an accounting qualification. 4 years has since passed (after deciding to embark on CPA qualification) and I have 2 years of audit experience under my belt. However, it came a big sacrifice as all the extra time, effort and money to switch as kind of put me to wonder whether all this effort is worth it.
I am currently also taking CFA Level 1 this Dec (as I feel I am able to handle the FSA part as well as Quant as I have both engineering and accounting background).
Coming back, I understand that the progression as a manufacturing engineer may be limited (also depends on your country whether it supports manufacturing). In addition, you have a family to support and at id 30s, even if assume passed all 3 at first attempt still leaves you have an uphill task of gaining relevant working experience and by hitting the hi end of 30s, it may not be that ideal a situation.
I am not trying to put a wet blanket but coming from a career switch myself, even though I am in an accounting/finance area where some of my engineering friends/peers are quite envious that I successfully did a switch, I always told them that it was a big sacrifice and not everyone can handle it.
A constructive idea for your case will be to move into management or as someone has highlighted, upgrade in your area of expertise. If you are still between 26-28, I can say go ahead cos thats the time I did the switch but at 35, chances are slim unless you are from a country (usually developed and westernised) that supports mid-career switch.
All the best in your career.
|Hello Hairy, I am in the very same situation, the only difference is I am 27 and I don't have a family to support yet. I also hate the fact that the career prospect is so limited in manufacturing engineering (well, I am in maintenance actually). People, should I do the same thing and consider doing an MBA or MBA/CFA combination. It seems like a huge sacrifice! One thing I like to point out, it's not easy to advance in engineering by doing a Masters and such. They need a strong academic background and also there will be no part-time, unless the company you work for fully supports ya. Anyways, it's tough. I'd like to do the career switch but hopefully can do it smoothly by doing the MBA partime and search for opportunities or MBA/CFA combined deg then search for other opportunities. Please advise. THANKS.|
|Hello Hairy! I am pretty much in the similar situation. I am a journalist and looking for a career switch. I wanted to have some kind of strong degree which could at least give me a braek in this field. It is very much clear that field of investment banking is heavily dominated by engineering graduates and they certainly have upper hand. However, in India, i feel situation will be relatively better as there is dearth of CFAs.|
CFA Discussion Topic: Career switch from manufacturing engineer to an investment job with an CFA
I just wanted to share the good news that I passed CFA Level I!!! Thank you for your help - I think the online question bank helped cut the clutter and made a positive difference.