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Old 02-08-2012, 09:01 PM
 
34 posts, read 19,252 times
Reputation: 53

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I been thinking of doing a career switch from information technology to financial analyst. Reason, I'm having thoughts about this is because I have been with IT for 2-3 years doing helpdesk and desktop support and find the salary compensation isnt all that satisfying. Well my main point is that I find entry level financial position(majority) salary are well paid and to the point; is it really difficult for me to transition over to a financial analyst position without having to go through re-educating(back to college) myself to start a new career?

Last edited by MrSchmo; 02-08-2012 at 09:11 PM..
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Old 02-08-2012, 11:11 PM
 
Location: Brooklyn, NY
204 posts, read 608,055 times
Reputation: 80
Quote:
Originally Posted by MrSchmo View Post
I been thinking of doing a career switch from information technology to financial analyst. Reason, I'm having thoughts about this is because I have been with IT for 2-3 years doing helpdesk and desktop support and find the salary compensation isnt all that satisfying. Well my main point is that I find entry level financial position(majority) salary are well paid and to the point; is it really difficult for me to transition over to a financial analyst position without having to go through re-educating(back to college) myself to start a new career?
Do you enjoy IT? You could try to get more into software development. It's less of a drastic shift, and the pay is pretty solid.
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Old 02-08-2012, 11:39 PM
 
221 posts, read 456,234 times
Reputation: 104
Everyone has hiring freezes right now in finance.
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Old 02-09-2012, 08:38 AM
 
Location: Dallas, TX
2,898 posts, read 4,942,096 times
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If you're outstandingly good at math you can try to be a Quant.
I know Quants that majored and worked in Physics, Chremistry, Civil engineering, etc.

Long hours, good pay.
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Old 02-09-2012, 02:01 PM
 
Location: Los Angeles, CA
175 posts, read 286,512 times
Reputation: 270
Are you interested in obtaining the CFA charter? It's a rigorous program and takes a few years to complete but if you're serious about pursuing a career an analyst, I would recommend this course. This path will help you gain the knowledge and skillset to become well versed analyst. The designation is highly respected in the industry and you will not have to throw down $ on an MBA. Just my 2 cents.

I work as a system admin in a financial firm. I'd say 90% of the equity analysts I interact with on a daily basis seem to lead miserable, frustrating and unfulfilled lives. One would think that a high salary equals happiness, yet in my personal experience this far from the truth. Best of luck in your endeavors.
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Old 02-09-2012, 02:11 PM
 
6,917 posts, read 9,062,609 times
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It's not easy to make a career switch into finance. You will have to compete against so many others who went through analyst training programs in the investment banks, who themselves have been recruited from top universities. You cannot do it by getting a CFA charter because you don't have the experience.

The best way, given where you're coming from, is to take a masters in accounting and get a CPA license. Then work for a few years with one of the big or mid-sized accounting firms. If you do that, you will have many options. You can work either as an industry analyst, a commercial banker, treasury track or CFO track (via corporate accounting).
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Old 02-09-2012, 02:24 PM
 
34 posts, read 19,252 times
Reputation: 53
Quote:
Originally Posted by manchesterUnited View Post
Do you enjoy IT? You could try to get more into software development. It's less of a drastic shift, and the pay is pretty solid.
I think software developer positions are huge shift and a lot harder to pick up and really requires extensive knowledge on programming languages. I came from information technology and not computer science degree. My courses in college did not cover all that much on coding computer languages but more on administrative system and network supports.

Quote:
Originally Posted by surftb15 View Post
Everyone has hiring freezes right now in finance.
I think with fewer opened markets on financial analyst positions, their compensation are still far better than tech support positions. I really think with tech support jobs going to oversea and with huge amount of people interested for tech jobs position have really saturated the market and drove wage down or its the fact that these jobs never adapted with cost of living on the rise.

Quote:
Originally Posted by likeminas View Post
If you're outstandingly good at math you can try to be a Quant.
I know Quants that majored and worked in Physics, Chremistry, Civil engineering, etc.
Science is not really my strong suit, but will look into those types of jobs and hope my information technology degree is the pass, if I am interested.

Long hours, good pay.
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Old 02-09-2012, 03:08 PM
 
221 posts, read 456,234 times
Reputation: 104
Yea, the compensation is great. The problem is there are hiring freezes across the board. Its real tough right now to enter the finance industry. You need to think outside of the box. Become an actuary like me.
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Old 02-09-2012, 03:11 PM
 
6,917 posts, read 9,062,609 times
Reputation: 2861
And when the finance firms start hiring again, they will have a surplus of gophers from the i-bank analyst classes to choose from. There won't be room for an IT guy who has no prior experience.
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