Is transitioning from engineering to finance in the UK feasible?
I’ve received offers for Mechanical Engineering from Imperial, UCL, Warwick, and Durham—all of which are target or semi-target universities. However, I’m wondering if it’s possible to enter the finance sector without a degree in Economics. Would it be better to take a gap year and reapply for Economics or mathematics?
What steps should I consider to enhance my chances, and realistically, what are the odds of securing a high-paying career in finance with an engineering background?
One response
It’s definitely possible to transition from engineering to finance in the UK. Many finance professionals come from non-finance backgrounds, including engineering. Here are some steps you can take to enhance your chances of breaking into the field:
Leverage Your Engineering Skills: Your analytical and problem-solving skills from engineering are highly valuable in finance, especially in areas like quantitative analysis or risk management. Emphasize these skills on your CV and during interviews.
Networking: Start networking with professionals in the finance sector. Attend industry events, join finance-related societies at your university, and connect with alumni working in finance. This can lead to internships and job opportunities.
Relevant Experience: Try to gain relevant experience during your studies. Look for internships in finance, even if they are not specifically tied to your degree. Experience in investment banking, asset management, or corporate finance will be beneficial.
Finance Courses and Certifications: Consider taking finance-related courses, such as financial modeling, investment analysis, or corporate finance. Earning professional certifications like the CFA or CIMA can also help enhance your profile.
Utilize University Resources: Your university’s career services can be invaluable. Attend workshops, career fairs, and consult with advisors to prepare for finance-specific applications.
Consider a Master’s Program: If you feel strongly about Economics or finance and think it would strengthen your profile, a Master’s in Finance or Economics after your engineering degree could be a great path. However, many have successfully transitioned without this step.
Apply for Graduate Schemes: Look for graduate schemes in finance that accept candidates from diverse academic backgrounds. Some employers are specifically looking for problem solvers rather than finance specialists.
As for your chances of landing a high-paying finance career, it varies based on several factors, including your networking efforts, internships, and how well you present your skills and experiences. With determination, a strategic approach, and leveraging your engineering background, you can certainly carve out a successful career in finance. Good luck!