Entry into Finance - With an Engineering Ph.D

[slance]

I am a Researcher working in the field of Computational modeling in academia. I have a Ph.D in Engineering. 36 yrs old with family.

Recently, I have become highly fascinated with financial markets and I am purely attracted to Asset management/Equit research part of the finance and value investing. I am planning to take some online finance courses first, but now feel that CFA would be best for the knowledge.

I am wondering about the best paths to break into finance. My long term goal is to continue invest my own money and If I am successful or any better, then to manage others money in future.

While, I am truly passionate about finance and investing, I am trying to understand if this means making a career switch, or just continuing in my current field with investing as a passion and hobby.I have the follow dilemmas in front of me and I will greatly appreciate any comments and advice.

1) To keep working in my current field as a Researcher/Faculty in industry/academia, which would give me a steady stream of income, stability, flexibility, and security and continue my learning through CFA exams (I, II, and III), and mainly investing my own money to develop a track record. (not much passion in current field. more in love with finance).

2) Or pass CFA Level 1 and/or 2 in a year, quit my current job, and look for entry level Asset management/financial analyst positions even for a substantially lesser salary to get into the field. (not sure about job prospects with PhD Engineering and CFA Level 1/and or 2)

3) Quit my job now, and get into MS Finance from top school with CFA partner program. This option will be costly, I will lose income, and pay for education. And could be stressful. (costly and stressful with family).

4) With a computational modeling background and PhD, I may get Quant positions if I try very hard and then once I break into finance, then do CFA, and go back to Equity research/AM. (seems like round about process)

I am inclined more towards option 2, or may be 4. But I really need some expert advice as this would be a major decision involving lot of time and effort.

I will truly appreciate any comments, opinions, and suggestions. Especially from those already in finance, quant finance, AM, equity research, CFA candidates and charterholders.

Thanks.

 

[mhy]

Asset management/equity research and quantitative finance are very different things. Which is it that you want to do?

 

[slance]

Asset management/equity research and quantitative finance are very different things. Which is it that you want to do?

Thanks for the reply. I am mostly interested in Asset Management/ER and trying to decide the best path I can pursue.

 

[Parallax]

Asset management/equity research and quantitative finance are very different things. Which is it that you want to do?

That is a very inaccurate statement. "Quantitative Finance" is a huge blanket term that covers a lot of things. On the buy-side, this may include asset management/equity research.

Is AQR a quantitative finance firm? Absolutely. What do they do? Largely long-only equity and multi-asset (i.e., traditional and style risk premia) portfolios.

Seems to me option #2 and #4 can be pursued simultaneously. I'd go that route.

 

[mhy]

That is a very inaccurate statement. "Quantitative Finance" is a huge blanket term that covers a lot of things. On the buy-side, this may include asset management/equity research.

You're right. I guess I was only thinking of the 'stereotypical' research/desk quant and 'stereotypical' buy-side analyst.