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IT professional shifting career to Finance

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IT professional shifting career to Finance

by kewlye » Sat Jun 15, 2013 3:43 am
Hi,

I want to see myself as a Investment banker post my MBA. I have selected colleges for applications based on rankings and am planning to apply for round1 of 2014 applications.

Now, one of my seniors tells me that there is almost no chance of shifting career from IT to Finance. I am worried. Although I am pretty sure that I shall do my best to prove myself in b school, I still am skeptical if this is made a right decision.

Please let me know the odds of getting a Finance job and if my experience is relevant.

My profile is as below:
GMAT: 660
Profession:Senior systems Eng in Infosys,
& Experience:In development&maintenance of a banking product called Finacle.
35 months (till date)
BE: 76.7% (Osmania University)
Tenth and Intermediate : 84.5% and 94.5%

Thanks in Advance!
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by CriticalSquareMBA » Sun Jun 16, 2013 5:55 pm
Hi there kewlye,

The person you're speaking to is half right, half wrong. If you want to switch to specialized finance, then you have a good shot based upon how you network and the opportunities you search for. If you're interested in investment banking specifically, this will be a little more difficult. Firstly, most have GMAT cut offs along with the top consulting firms. If you want to have a shot, you'll need to retake your GMAT and get above a 700. Then it comes down to your experience. Since your professional experience isn't relevant, you'd have to really hone in during your internship. Focusing on getting some great experience or converting that internship are really your own two options.

I don't think you've made a poor choice looking to your MBA to switch from IT to Finance it's just that you'll have to very determined to make the switch and honest about your chances depending on where you're targeting.

I hope that helps! Let me know if you have any comments or questions!

Bhavik
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by ErinaApphelp » Mon Jun 17, 2013 5:53 am
Hi,

I don't see any disadvantage in switching IT to finance. But you need to build a strong story and showcase how an MBA will help to achieve your goals, how much value you will create in the classroom, how you will contribute to the b-school society & many more in application essays and exhibit leadership traits, achievements in or outside work place & ability to work with others during the final interviews. If you intend to apply in top 20-30 b-school(s) then I would suggest you to write GMAT again and score 700+ to strengthen your candidature. Try your chances in b-school(s) by clicking https://tinyurl.com/k6r5w6x

Let me know in case of further assistance. You may PM your details for profile evaluation or school selection.

Regards
Erina


kewlye wrote:Hi,

I want to see myself as a Investment banker post my MBA. I have selected colleges for applications based on rankings and am planning to apply for round1 of 2014 applications.

Now, one of my seniors tells me that there is almost no chance of shifting career from IT to Finance. I am worried. Although I am pretty sure that I shall do my best to prove myself in b school, I still am skeptical if this is made a right decision.

Please let me know the odds of getting a Finance job and if my experience is relevant.

My profile is as below:
GMAT: 660
Profession:Senior systems Eng in Infosys,
& Experience:In development&maintenance of a banking product called Finacle.
35 months (till date)
BE: 76.7% (Osmania University)
Tenth and Intermediate : 84.5% and 94.5%

Thanks in Advance!
GMAT-720
Undergrad- Top 5 college in India
MBA- Top 15 FT ranking b-school
Free Profile Evaluation- https://www.apphelp.co.in/
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by MBAPrepAdvantage » Wed Jun 19, 2013 6:22 am
Given you are applying from the competitive Indian IT applicant group, have a low GMAT score relative to those in this group, and your undergraduate university in India is not as well-known, you might have difficulty getting accepted to top schools with your present profile. Which schools have you been targeting?

I would recommend that you up your GMAT score and tie aspects of your maintenance of a banking product to some relevant finance experience in your application.

Good luck,
Michael Cohan
MBAPrepAdvantage Founder & AIGAC Board Director
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by InterviewBay2 » Wed Jun 19, 2013 11:01 pm
You can change your career from IT to finance if you have an MBA from a top business school. That's the main reason why many people go for an MBA. However, the probability of changing careers will become very low if you are targeting a low tier school.

Your GMAT score is very low. It will hurt your chances at a top school. Your university name as well as your undergrad score don't seem to highlight your academic achievements.

Your pre-MBA experience in Finacle product will be useful in showcasing your interest in finance. If possible, you should consider doing courses such as CFA. Most of the finance firms that come to campus look very favorably at such certifications

Speak to few students and alumni of your target school and take a decision. We will need more information to exactly comment on your chances of getting into a top school.

Good luck!
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by kewlye » Sun Aug 04, 2013 11:29 am
Dear All,
Thanks for your replies.

I am not in a position to take my gmat again. (feels sad)
Also, I have severe financial constraints. Hence, I have been targeting economical schools like mays, madison and kelley.

How are my odds for getting a job in Finance sector as such?

Thanks Again!
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by CriticalSquareMBA » Mon Aug 05, 2013 8:10 am
Hi there,

If I may ask, why can you not take the GMAT again?

As for the schools you're looking for - it's not impossible, just more difficult. Finance is a game of pedigree so you'll just have to try harder and network better.

Bhavik
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by campbellronald7 » Sun Nov 10, 2013 11:44 pm
While it is certainly not impossible to switch career paths at this point, I agree with the other posters here that it may be difficult. You will increase your chances by spending a few years gaining relevant experience and studying to improve your GMAT score. There are some top-tier graduate schools that do not require the GMAT, such as one of the programs offered at my alma mater, Babson College. However, these programs require much more relevant work experience and are challenging to gain admittance. I had a very valuable experience at Babson and highly recommend this institution. Best of luck!
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by MBAPrepAdvantage » Mon Nov 11, 2013 8:50 am
Also, as an Indian applicant, you will need to find a company that will sponsor you as an H1B visa post-MBA. The better the MBA school, the easier this will be. As part of your due diligence, I would recommend contacting each target school's career services to find out the number and percentage of foreign nationals (and Indians) who are able to obtain employment in the U.S. post-MBA.

Best of luck,
Michael Cohan
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www.mbaprepadvantage.com

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