How Can An Engineering Student Switch Careers To Finance?
Finance is a very broad field with a number of features. Different roles require different skills and expertise. Therefore, we recommend that you look into the various sectors. There are many (free) resources available on the Internet. Try to browse Quora - follow related topics and leading authors in these areas.
Qualifications: IITB students working in a quantitative finance role in a global investment bank.
Finance is a very broad field with a number of features. Different roles require different skills and expertise. Therefore, we recommend that you look into the various sectors. There are many (free) resources available on the Internet. Try to browse Quora - follow related topics and leading authors in these areas. They are mostly experts with a lot of knowledge and experience. In addition to Quore, there are websites like Poets and Quants, Wall Street Oasis that have different views on such fields. Depending on the field in which you have zero, you can follow any of the following strategies.
This is the most common field among IITians and especially among students of EE, CS and Engineering Physics. Many companies - Goldman Sachs, Morgan Stanley, Credit Suise, etc. - hire IITs for these roles. Keep a good CGPA before going through the first shortlist. If you do all this in your performance tests and interviews. Dust off first / second year math, especially linear algebra, calculations, probability and statistics. Take advanced courses in them. Change your programming, C ++ is better. If you have not already done so in your curriculum, study advanced concepts of object-oriented programming. Scroll and solve math puzzles; there are many books about it. They cover most of the issues during your interviews.
Strictly speaking, prior knowledge of finance is not required. Although you can express your interest through projects or courses, which can be another point. More impressive than in quantitative finance - such as stochastic calculations, price options and so on. We had a project on my resume and it handled most of the discussions during my interviews. But make sure you are very willing to answer questions based on that. If the interviewer finds that his or her fluff is alone and adds to attracting attention, you will probably be rejected.
Some companies are recruited for this role directly from IIT - Optiver, Flowtraders and Future First already above me. They usually do not have strict CGPA requirements; maybe they just don't. This is usually followed by a three-level test followed by an interview. The first level is normal for testing your arithmetic speed and you have to solve about 80 questions in 8 minutes. So increase your arithmetic skills and start practicing these questions under time pressure. The second phase is quite similar. The third stage consists of a mathematical puzzle. The interview is also a combination of these three with some stress-free interviews.
However, it is useless to start preparing them for 3-4 months for the exam.
Investment Banking Division:
Morgan Stanley was first recruited from the IITB in 2014. It is therefore difficult to understand their strategy. In addition, there are several boutiques that recruit, but we do not focus on them.
Based on a shortlist of Morgan Stanley, we have several proposals. Maintains good CGPA, has great weight. In addition, any international exhibition - through exchange programs, internships, conferences, etc. - contribute a lot. Management experience is also important. So try to gain this experience.
We never had much idea about it and we never saw any of my seniors working in this area. In addition to what I know, we do not know of a company that would still be recruiting for this position on my campus. However, if you want to continue on this line, we recommend that you take accounting courses. If you can, keep the minor in accounting (as well as in management). In addition, completing CFA Level 1 can help you.