Help!! Stuck with my Career

[Pradhu]

Hello! My question is regarding a career change, and would really apprecaite if I could receive valuable advice.

I am 31 years old, have a CFA charter, an undergraduate degree in business (honors), and a passion for numbers. I have around 7 years of work experience, mostly in corporate finance advisories (equity valuations, M&A advisories, business plans & feasibility studies). Currently, and since the past 4 years have been working in Kuwait, where time stands still..literally!

My problem is that I am really really stuck with my career and my job: the quality of work and experience out here is mediocre, to say the least. I've been trying for a job change with no success: Locally, there aren't much opportunities, and if so, nothing appears exciting. Internationally, the CFA charter is not enough for an otherwise unexceptional profile as mine.

Considering my passion for numbers, and the rut I am in, I am seriously considering a change in career towards quants, though I don't have much experience in hardcore quants, nor much programming skills.

Considering my background and situation would a masters degree in financial engineering (or a certifcate like cqf) be a practical way forward for the change? More specifically, after completing the program, and considering my age and work-ex, would there be a high probability for me to get a decent quants job in one of the main financial centers (London, New York..)? What are the other factors that would come to play? Are there any other options available for a career change?

Would much much appreciate your advice. Many Thanks.

Pradhu

 

[Andy Nguyen]

Get out of Kuwait and go to NYC if you want to be around people who are doing what you want to do. Go to a top MFE program with an established career placement track record. You may want to look into programs that offer career support for part-time students (mostly working and older folks).
Then, you are unlikely to get into those programs if your math and programming are not up to date. You have to start somewhere. Probably start getting your background up and apply in a year or two.

 

[quotes]

Quant is not suggested regarding your corporate finance background. How about Venture Capitalist? Stock Analyst?

Passion for Numbers \= Passion for Formulas.

You need to be very easy with Calculus and Statistics (including Econometrics) to be a successful quant.

 

[Pradhu]

Get out of Kuwait and go to NYC if you want to be around people who are doing what you want to do. Go to a top MFE program with an established career placement track record. You may want to look into programs that offer career support for part-time students (mostly working and older folks).
Then, you are unlikely to get into those programs if your math and programming are not up to date. You have to start somewhere. Probably start getting your background up and apply in a year or two.

Thanks, Andy. I have a 3 years bachelors degree in business (had advanced business statistics as a subject, but no maths). Assuming I score high on the GMAT/GRE tests, would that, coupled with my work-ex and the CFA certificate, make me a likely entrant into a top MFE program? I can enroll for online credits for programming and maths skills (since I have plenty of time for the deadline, for AY 2013-14).

I am also considering CQF. Comparatively, it would be a much easier route: would not have to leave my job, and the total expenses involved would be much less. However, my biggest concern regarding CQF is on placements. Since I would aim to switch both my domain, and country, would my profile be strong enough for recruiters to hire internationally? I understand that though the CQF programs does appear to be reasonably strong in terms of content and delivery, their placement services are weak.

 

[Pradhu]

Quant is not suggested regarding your corporate finance background. How about Venture Capitalist? Stock Analyst?

Passion for Numbers \= Passion for Formulas.

You need to be very easy with Calculus and Statistics (including Econometrics) to be a successful quant.

Thanks, quotes. I know what you mean.

Well, I have reasonably challenged and confirmed as far as my interests lie, so that I don't trap myself into a case of 'not knowing what you want before its too late'. Thanks to MIT's & UCLA's OCWs I have watched (and understood!) semester classes on single variable & multivariable calculus, Mathematics & Probability for Life Sciences, and have also read a couple of decent articles on quants. I wouldn't say I'm totally easy with them right now, but I know I would be, once I spend more time and efforts in this area.

My main concern is that changing my career at this stage is a huge deal for me and my family (DW). We are well settled, and going back to school after 10 years is a bit unorthodox for us! So I want to be really sure (apart from just me having an interest) that considering my background (age, experience, etc etc) there is a strong probability of me: a) getting into one of the top MFE programs ; b) getting a breakthrough in a top quants job ; and c) whether there is any other alternative like the CFQ which is less painful but effective to get me a breakthrough. Else, like what you say, and what I've been trying now for a long time, I would keep trying for a better job in a related field.

 

[quotes]

I guess you are not a US citizen, Pradhu.
It is very bad now in quant hiring in US.
The best choice for you is learning by yourself.
And then it is up to you to go abroad or land a local quant job.
I could recommend the books I have used for you.
They are not that hard if you learn step by step.

 

[alain]

Pradhu,

What do you do in Kuwait? Is there a market for the things you want to do? How much clout do you have in your current job?

 

[MrBucks]

Thanks, quotes. I know what you mean.

Well, I have reasonably challenged and confirmed as far as my interests lie, so that I don't trap myself into a case of 'not knowing what you want before its too late'. Thanks to MIT's & UCLA's OCWs I have watched (and understood!) semester classes on single variable & multivariable calculus, Mathematics & Probability for Life Sciences, and have also read a couple of decent articles on quants. I wouldn't say I'm totally easy with them right now, but I know I would be, once I spend more time and efforts in this area.

My main concern is that changing my career at this stage is a huge deal for me and my family (DW). We are well settled, and going back to school after 10 years is a bit unorthodox for us! So I want to be really sure (apart from just me having an interest) that considering my background (age, experience, etc etc) there is a strong probability of me: a) getting into one of the top MFE programs ; b) getting a breakthrough in a top quants job ; and c) whether there is any other alternative like the CFQ which is less painful but effective to get me a breakthrough. Else, like what you say, and what I've been trying now for a long time, I would keep trying for a better job in a related field.

I finished my undergrad in 2004. I went back and did a year of undergrad classes in mathematics and physics in 2008-2009. I then went directly into graduate school. It's a little rough going back if you have been out for a while, but after the first semester, you are pretty much back in the swing of things. At least that was my experience.

 

[Black-Jack]

I guess you are not a US citizen, Pradhu.
It is very bad now in quant hiring in US.
The best choice for you is learning by yourself.
And then it is up to you to go abroad or land a local quant job.
I could recommend the books I have used for you.
They are not that hard if you learn step by step.

Would it be a good option to consider an MFE 5-6 years down the line?
(for Non-US citizens)