Advice for Transitioning from Engineering to finance?
Hey everyone! I’m a freshman in engineering seeking some guidance.
I’m currently studying Computer Engineering at a top 25 school known for its engineering and computer science programs, as well as finance, though not as prominently. I’m pretty well connected and have an internship lined up this summer in Private Wealth Management (PWM) at GS/MS/UBS, which I feel confident about securing thanks to those connections.
Here’s the thing: even though I’m in the engineering/cs field, I really don’t enjoy coding. I’m fine with logic and math—like stochastic calculus—but coding just isn’t for me. That’s why I’m more interested in the financial sector. I also have solid connections in that area at several large banks.
PWM appeals to me because I find the idea of managing generational wealth compelling. However, I’m uncertain about how far I can go if I stay within a major investment bank like the ones I’ve mentioned.
Additionally, I want to mention that I recently took a leave of absence due to health issues, which means I missed a semester. While I received a full refund and the absence won’t appear on my transcript, it still sets me back a bit compared to my peers in engineering. I’ve been proactive, studying independently, but I know I’ll likely be slightly behind.
I’d really appreciate any advice you might have on potential career paths for me or things I should consider for the future. Thank you!
One response
Transitioning from engineering to finance can be a rewarding move, especially with your interest in wealth management and your upcoming internship opportunities. Here are some tailored pieces of advice to help you navigate this transition:
Leverage Your Technical Skills: While you may not enjoy coding, the analytical skills and problem-solving mindset you’ve developed in engineering are valuable in finance. Asset management, data analysis, and quantitative finance roles often seek individuals with strong quantitative backgrounds, so be sure to highlight your engineering skills in your applications and interviews.
Network Strategically: You mentioned having connections in both finance and engineering. Use this to your advantage by reaching out to professionals in wealth management to learn more about their experiences. Ask for informational interviews to gain insights into the field and get advice on how to transition smoothly.
Understand PWM Fundamentals: Since you’re interested in Private Wealth Management, familiarize yourself with key concepts such as portfolio management, estate planning, investment strategies, and customer relationship management. This will help you engage more deeply in your internship and future roles.
Consider Further Opportunities in Finance: Many pathways exist within finance, such as asset management, financial analysis, risk management, and corporate finance, in addition to PWM. As you progress, keep an open mind about these areas as potential career options.
Stay Informed: Follow financial news, market trends, and major players in the wealth management space. This will help you develop a keen understanding of the industry and demonstrate your proactive interest during conversations with peers and professionals.
Focus on Professional Development: Consider obtaining relevant certifications, like the Chartered Financial Analyst (CFA) or Certified Financial Planner (CFP) designation, if PWM turns out to be your long-term focus. These can augment your engineering background and demonstrate commitment to your new career path.
Address Your Health Concerns: While your leave did not affect your transcript, be prepared to explain your time away in a candid way if asked. Focus on how you’ve stayed engaged with your studies, and emphasize any growth or resilience you’ve gained through that experience.
Stay Flexible: Finally, be open to exploring roles outside of PWM, even if they aren’t your primary interest initially. Gaining experience in different facets of finance can provide you with a broader skill set, making you more valuable in the long run.
In summary, your engineering background can be an asset in finance, particularly in data-driven roles. Make the most of your connections and internship, keep learning, and stay flexible in your career path. Good luck!