Carole Said:

What entry-level banking or finance careers are out there you can pursue?

We Answered:

If by banking you mean working in a bank, you start fairly low, and they only promote from within. You would start around $30,000 and get to $120,000 at the top. If finance/investment banking you start high but work 100+ hour weeks analyzing investments and creating investment sales pitches. Start $100,000+ and get to $1-2 million in the end (10-14 years!). Other finance careers include accounting, financial analyst, real-estate, business analyst, and other related jobs. All are going to require a 4 year degree, and to advance an mba or other certification, such as cpa or cfa. Salaries vary by company, but starting is $40,000-$60,000 and reach $60,000-$100,000.

Thelma Said:

Does having an IVA prevent careers in the banking/finance industry?

We Answered:

It will certainly make it harder for you than someone with a clean record with the same abilities. The mentality is that someone who is desperate is more likely to steal than someone who doesn't need the money. (never eat at a restaurant where the chef is as skinny as a rake).

How comfortable would you feel letting someone with known credit problems have complete control over your hard earned savings and the savings of others under your care ?

I have always found banks to be like the person who lends you an umbrella on a sunny day, but as soon as the rain starts want it back.

You need to find a way of making it work for you not against you. Like you know how hard it can be, and what dangers exist for people following bad advice. Try to emphasise that whilst it is one of the most unpleasant lessons you have had, it has really brought home the knowledge of what is important in life and how we can be fooled into think that luxuries are an essential.

I wish you luck.

Melinda Said:

Switch careers from engineering to banking/finance?

We Answered:

The CFA is a series of 3 exams... plus you need 5 years of relevant work experience in order to get your CFA charter.

The analytical aspects of your engineering background could be of use in a finance job. However it will be very difficult for you to just go out and look for finance jobs. If you do, you would probably have to look for something very entry-level like an assistant to a portfolio manager or as an Admin Assistant to a Financial Planner.

I don't know what your personal financial situation is or how much more education you can stomach right now. But I would really recommend that you go back to school for either an MBA (business LOVE people with dual Engineering/Business Masters degrees) or a Masters of Science in Finance. Assuming that you have not previously taken business or finance courses, I would recommend that you do a 2-year program as opposed to a 1-year program. But the benefit if that is that during the summer break you can get a great finance internship. Also, a great job search strategy is to make employers come to you (like at a campus career fair). These are people looking to hire! Your chances of getting a job in that situation are a lot better than if you were to start knocking on doors with an engineering degree.

Good luck!

Jeff Said:

An engineer thinking of a banking or finance career. Is it a good idea?

We Answered:

The grass is always greener. Know what those bankers are thinking? Boy I wish I had gone to school and gotten that engineering degree! Seriously, there are good and bad jobs out there. If you arent making the kind of money you want - check what field you are in. There are always hot and cold ones out there. Also, you have studied hard and succeeded at engineering. What makes you think you can suddenly become a banker one day? Decide what you are good at and what you enjoy - then do it. Moving around outside your field can kill your career later. I have all kinds of people that try and "come back" and it's hard! Be sure of what you want to do but once you've made up your mind - go at it 100%! Hope this helps!

Geraldine Said:

Careers in banking/finance which don't involve accountancy?

We Answered:

I would have thought that accountancy is rather a central requirement ....

Still I guess they must have all sorts of support services eg. IT & Help Desk staff, Secrataries etc.

... or perhaps Customer Service or Sales ? (they never seem to be able to add up :-) )