Getting into Quants from a non-finance background

[Honavar]

I'm currently pursuing my 3rd year B.Tech degree in Mechanical Engineering from a tier 2 college in India. I have no experience in finance and have been reading it for my interest. However I would like to join a financial institute and work as a risk manager/ risk analyst. How should I build my profile? I'm considering taking up FRM or CFA course. I would prefer working for a few years in a related field before going for my Masters degree.

 

[BlackMamba]

If you have no finance background at all, I believe the CFA program (level 1 in particular) would give you a well rounded introduction.

 

[Honavar]

If you have no finance background at all, I believe the CFA program (level 1 in particular) would give you a well rounded introduction.

Thanks! So will this allow me to break into the financial industry at an entry level position?

 

[BlackMamba]

Thanks! So will this allow me to break into the financial industry at an entry level position?

Passing the CFA Level 1 exam is unlikely to do anything other than help you become more versed in traditional finance and demonstrate on your graduate school application at least some formal exposure to finance studies. Completing all three CFA exams however would make you look relatively more attractive for a position within the financial industry. However, if you're interested in going down the risk manager/analyst route, it might not be worth your time going through the entire program. My two cents.

 

[Daniel Duffy]

How much maths in ME? Can you program a bit?

 

[Honavar]

How much maths in ME? Can you program a bit?

I had learned C++ and MATLAB in my 1st year but haven't used it since. Math syllabus consisted of differential equations, numerical methods to differential equations, probability theory, stats, 3D geometry and some vector calculus.

 

[Daniel Duffy]

I had learned C++ and MATLAB in my 1st year but haven't used it since. Math syllabus consisted of differential equations, numerical methods to differential equations, probability theory, stats, 3D geometry and some vector calculus.

My 2 cents..

It's been 2 years since you used Matlab which means your programming skills are very rusty. A very popular language these days is Python and it has lots of relevant libraries that can even help you fill the lacunae to an extent in your maths background.

 

[Ken Abbott]

I have no experience in finance and have been reading it for my interest. However I would like to join a financial institute and work as a risk manager/ risk analyst.

I'm not entirely convinced that you've thought this through. The business is filled with people who either went into the business on a whim or came in expecting quick riches. Is your interest primarily academic? Have you spoken with people in the business? Do you understand what risk management is all about?

 

[Honavar]

I'm not entirely convinced that you've thought this through. The business is filled with people who either went into the business on a whim or came in expecting quick riches. Is your interest primarily academic? Have you spoken with people in the business? Do you understand what risk management is all about?

Frankly speaking I want to work in a career which is involved in analyzing a system to see its problems, solving the problem and recommending improvements or even changing the system. I found the job profile of a risk analyst and financial engineer interesting. I am interested in management consulting but was advised to join it after gaining a lot of experience in the industry and not as a fresher.