Updated October 11, 2023
Introduction to Get a Finance Job From Engineering
Today, education is growing daily, and in this fierce world of competition, many prefer to do their master’s. Different degrees are available after graduation, and those who want to do it in “Finance” are on the right track! But there is an additional dilemma in the minds of “Engineering students.” Many questions dwell in their minds, confusing and complicating the decision-making process. And this is why edu CBA is here to answer all your questions and doubts. In this article, we will understand all about Getting a finance job in engineering. An MBA in Finance is a suitable degree, and there is no specific rule that only people who have done finance graduation should do this. Completing engineering and then doing MBA will add more value to your career.
It will help you to be in a higher position than other graduates. And thinking of today’s world, every company needs an employee at the management level with some technical knowledge so that nothing will go to waste.
Journey in the Finance World!!!
Has everyone told you before that in your journey of Getting a finance job in engineering, you must have a master’s degree in Finance? Is this what is pulling you back? Yes, you can get a finance job after completing your engineering degree. Have you considered all the options you have for that? Or have you just listened to others and thrown that Finance dreams out of your system already? You can get into the finance field by completing your MBA or CFA. These are well-known and traditional ways of getting into finance, but they are not the only way. So, what are the other routes? The following few lines will cheer you up!!! Let’s get you sorted…
Various skill-based training organizations are all equipped to provide excellent training in Finance. And it’s not just theoretical. It comes with all the practical applications of Finance. Here, you should get some value-added industry-based training through various courses in Investment banking, Equity Research, Financial modeling, and much more. You can get into one of such courses to sharpen your financial skills.
If you opt for an MBA, you need a graduation degree to enter into MBA finance. Taking competitive exams to make yourself eligible for a good MBA college would be best. Candidates can begin preparation during the third year by enrolling in training institutions and gaining some knowledge.
One needs to complete engineering with at least 50% marks. The candidate’s performance in their engineering academics will help in the later stages of the selection process. Hence, the candidate must focus on performing well in engineering semesters and entrance exams.
Before considering Finance after engineering, one needs to figure out why one wants to do an MBA or get into Finance. Hence, one should not get into Finance merely to become a manager in a reputed organization.
You are getting a finance job after engineering improves career prospects. However, before becoming a manager, you can gain work experience and understand how businesses function.
If the candidate wants to shift from engineering to Finance, they need to understand the difference between the two fields and have a passion for the field of Finance. Some self-examination combined with some research on Finance will help determine the goal.
If you pursue an MBA or any other degree in Finance after gaining some work experience, you will be in a better position to grasp the course contents and apply them appropriately to your work.
“In Your Favor points” for engineering students during the Finance job interview!!!>
- Employers won’t doubt your quantitative skills or your attention to detail.
- Depending on your experience, you can convince the employer that you can work long hours relatively efficiently.
- Also, you have options outside of investment banking that lawyers and accountants cannot access.
Ways to Spin Your Resume Successfully!!!
- Get your “story” set. (Why Finance after engineering?)
- Plan out your recruiting strategy.
- Identify which firms you will contact and what fields of Finance you’re most interested in.
The next and most crucial step is to craft a winning resume. Here’s how you can do that:
Step 1:
Use some investment banking resume templates if you are unsure how to structure the perfect resume. All the templates are available online, and you can select the one that best suits you and get it to download.
Step 2:
Pick some experiences that you would like to highlight the most. These may include what you’ve done during the entire finance course, summer internship projects, Business competitions, or any other significant activities where you have displayed your leadership quality.
Step 3:
Rephrasing your resume in business and finance rather than using extensive jargon or some engineering lingo is best.
During the Interview Process!!!
- Are you genuinely interested in Finance?
- Why Finance after an engineering degree?
- Don’t you feel you have wasted “Four Years of Engineering”?
- Have you learned enough about accounting and Finance to compete with commerce students?
- Do you have the stamina and passion for working 100-hour weeks?
- Do you like to communicate with people?
Here’s how you can answer these questions
- The 100-hour work question can be answered quickly. You may talk about all the lab work you had to do during your engineering degree. Focus on all the last-minute projects you have worked on or the experience you gained during your summer internship or full-time job if you have previous work experience.
- You may talk about exciting companies, IPOs, or stocks to prove your interest in Finance. You may stick to some unusual companies or success stories rather than opting to talk about common companies, as everyone is bound to do the same. Talk about any investment or recent market news that displays your market awareness.
- To answer technical questions, you can get access to some interview guides, or you can also join financial modeling programs that will teach you everything you need to know.
- To answer the questions related to your interpersonal skills, you must be polished and well-prepared. Do not hesitate or get confused while answering such questions. The best way to get good at this is to practice with any friends who are smooth talkers.
- Make sure that all your answers are crisp and to the point. Do not run around the same bush again and again.
It’s Time to Answer the Technical Questions!!!
Employers may have lower expectations regarding technical questions since you do not have a finance background. But this does not mean that you ignore them. You must know all the basic concepts, for example, fundamental accounting and valuation questions. Be thorough with all three financial statements, how they are linked together, how to walk through changes to the financial statements, and how to value a company.
You can also prepare questions on advanced topics like mergers and Acquisitions, Credit rating, and LBO models. At the same time, stick to the basics of these topics. You do not have to know all the complete and intricate details of the topics in the initial steps. Thus, if you’re in a time crunch, you can visit various sites to get questions and answers to finance interview questions.
Be Prepared with “Plan B.”
You prepared your story, crafted an excellent resume, and have gone through all the technicalities of Finance, but what if you do not get a job in the desired investment bank? You came out of the interview room with no offers. Are you already thinking that Getting a finance job in engineering is indeed difficult? Do not panic, and don’t get depressed. It’s not the end of the world for you. Keep other options open as well. Also, consider Finance Roles Outside of Investment Banking. Some of the alternatives are as follows.
Corporate Finance
Corporate finance jobs include working for a company and managing the capital necessary to run the enterprise.
Commercial Banking
Career options in commercial banking include bank tellers, loan officers, operations, marketing, and branch managers.
Hedge Funds
Hedge funds are private investment funds whose managers can buy or sell various assets and financial products. Because of the mystery surrounding them, Hedge-fund jobs are considered by many to be glamorous.
Private Equity
A private equity job includes helping businesses find capital for expansion and current operations. It also includes providing financing for corporate business transactions like buyouts and restructurings.
Venture Capital
The venture capital job includes evaluating pitches by founders and small-company leaders to determine if the venture capital firm will invest in such businesses.
Financial Planning
Financial planning job includes helping individuals develop plans to ensure their present and future financial stability.
Insurance
Finance jobs in insurance involve aiding businesses, and individuals anticipate their potential risks and protect themselves from losses.
Choose the Right Direction for Yourself !!!
Different finance jobs require other skills and portray different work environments. And this is why it is wise to select a career that aligns with your long-term interests and abilities. For example, someone with good interpersonal skills can do well as a financial advisor, while on the other hand, someone who enjoys working with numbers might do better in accounting. Hence, it is wise to do the research first to discover your options. However, we hope that through this article on Getting a finance job in engineering, you will remember that-
<“The time spent discovering the most interesting possibilities, can be time saved working in a job that just doesn’t fit”.>
If you are interested in taking up a course and honing your skills in Finance, you may like to visit-
Getting a finance job from engineering- Finance for non-finance
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