5 finance courses for engineers looking to make a switch

There is a natural order to a career progression. You study, get a job, and slowly build enough experience to climb the corporate ladder.

That is how things were traditionally done. But what if you decide to switch careers mid-stream? What if you are a trained, experienced engineer looking to start work in the finance industry? Do engineering and finance fields even have anything in common? How can engineers make this big shift?

There are many reasons why an engineering specialist would change professions. You may have plateaued in your career and looking for a new lucrative opportunity. Maybe you have realised that engineering is not where your heart lies. Or perhaps you’ve seen your peers in finance doing remarkably well for themselves, and now you want to have a similar career high.

Lucky for you, nothing is impossible if you have the drive, passion and a willingness to learn new things.

As an engineer, you have already worked hard to reach where you are. You can put in similar effort towards achieving your new dream. So here are five financial courses for engineers ready to start a new challenge.

5 finance courses for engineers

1. FLIP certification

The program offers certification in finance and banking fundamentals. It acts as a perfect online gateway finance course for engineers. The eligibility requirements are you should be a graduate, own a laptop and understand basic MS Excel. The subjects include understanding risk, raising capital and financial instruments, financial markets, retail and corporate banking. The syllabus teaches core finance concepts, industry knowledge, and offers an introduction to specialised fields. This course can be a good entry point into the industry, especially if you are switching between engineering and finance.

Course details: 

• All classes are online.
• The course duration is for a month.
• Each class lasts for 2 hours.
• Evaluation is done through assignments and three quizzes.

2. Financial modelling course

This program can open many doors for you in the finance industry. In fact, it is one of the best financial courses for engineers. Want to work in investment banking, commercial banking, credit analysis, equity research or financial planning? A financial modelling certification can get you a job in any of these fields. The course teaches you how to record, maintain and analyse financial data in a spreadsheet software like MS Excel. It is a useful tool that helps professionals understand the value of businesses and investments, help with decision making and even create future projections.

Many companies prefer to hire professionals with a financial modelling certification, often including the qualification in the ‘must have’ section of their recruitment listing.

Course details: 

• You can attend online or offline classes.
• The course duration is around 3 to 6 months.
• Students have to be over 18 years of age.
• Anyone from any educational background can enrol.

3. The CFA Program

Here’s the good news. The Chartered Financial Analyst certification is the global gold standard for investment management. Here’s even better news. As an engineer, you can still apply for this course. The syllabus has ten industry-relevant subjects, including portfolio management, ethics, derivatives, financial reporting and alternative investments. The syllabus is designed to help you learn the skills and knowledge to work in financial analysis. It takes careful planning and hard work to clear all exams, but signing up with a reputed coaching institute can help you study efficiently. The CFA is the perfect finance course for engineers and can lead to many job opportunities in the industry.

Course details:

• You can attend online and offline classes.
• The course can take 2 to 3 years to complete.
• You need a valid passport to take the exams.
• You have to clear three levels before you receive your certification.
• You should have a graduate degree from any recognised university.

4. MBA Finance

If you are hoping to switch between engineering and finance, the MBA degree is one of the top finance courses for engineers trying to crack into the industry.

An MBA degree will teach you important business and financial management skills. You can work in several finance fields, such as investment banking, corporate finance, risk management or financial consulting. Just note that your B-school’s reputation is very relevant to getting job opportunities. Graduates from top-tier colleges get better job opportunities and pay packages than those who study in tier-two or three universities.

Course details:

• The MBA is a two-year postgraduate course.
• Most students attend full-time classes on campus, but a few online options are available.
• You should be a graduate from any stream with an average of 50 per cent marks.
• Students must take entrance exams such as CAT, SNAP, MAT and CMAT. The scores from this test will decide which colleges will call you for an interview.

5. Financial engineering

Here is an interesting way to blend engineering and finance — the financial engineering course. This program is a form of engineering that focuses on maths, statistics and calculations to find solutions to financial problems. The course teaches various techniques and tech-based tools that are successfully applied to various financial situations.

Course details: 

• It is a three-and-a-half-year, full-time course.
• The syllabus includes subjects like computer science, economics and applied maths.
• You need a degree in various streams, such as engineering, mathematics, physics or economics.
• An MBA, CFA or FRM certification is also valid to apply for the course.

How Proschool offers two of the best financial courses for engineers

Whether you have a career in engineering or finance, the support of a top educational institution is imperative when learning the tools of the trade. IMS Proschool is one of India’s finest coaching institutes that has helped many students become competent financial professionals. You receive a fully loaded learning experience with over 900 hours of practical training and innovative learning methods. The professors on board are industry finance gurus with many years of experience under their belts. They work well with students from all backgrounds, such as engineering and finance.

The teachers simplify concepts, clear doubts, and offer personalised attention. This helps students to grasp the material better. Proschool offers financial modelling and CFA classes, two of the best finance courses for engineers.

Highlights of learning with Proschool:

• You can take online or offline classes.
• You get customised study plans that include revision time.
• Plenty of educational resources are available, such as mock exams, practice papers, a learning library and online support.
• Proschool offers placement assistance for every certified student.

Top financial careers after engineering

1. Private Equity Associate

Your work will include looking after existing investments while negotiating new deals.

2. Financial Analyst

You will study the markets, evaluate stocks and analyse opportunities for solid investments.

3. Investment Banker

Your role will involve securing funds, working on M&A deals and advising clients on investment opportunities.

4. Trader

You can become a buy-side or sell-side trading professional and help clients build their investment portfolios.

5. Hedge Fund manager

You will be responsible for the buying and selling of financial products.

Success stories

Here are two professionals who benefitted from taking financial courses for engineers.

• Niranjan Chavan
  • Qualifications: IIT mechanical engineer/ CFA charter holder/
  • MBA in Finance
  • Current role: Head of Finance, BrowserStack
  • Previous job: CFO, Toppr India
• Raghava Rao
  • Qualifications: IIT computer science engineer/MBA finance from IIM
  • Current role: VP, finance and CFO, Amazon India
  • Previous job: Finance director, Unilever

Source: financestory.com

FAQs

1. How can I get a job in finance as an engineer?

The first thing you need to do is get a finance qualification. The courses listed above will help you gain the expertise and skills you need in finance or investment banking. Courses such as financial modelling and CFA can help boost your resume and attract potential employers. After that, you can reach out to headhunters, apply on recruitment sites or to listings on company websites. Your qualifications in engineering and finance will be an advantage as you have a unique set of technical skills.

2. Can I study finance after engineering?

100 per cent yes! There are many financial courses for engineers who are looking to change careers.

3. Can an engineer become a CFA holder?

The CFA is one of the best finance courses for engineers. The Institute permits graduate students from all disciplines to enrol in the course as long as they are over 18. Engineers are welcome to study the CFA program, and your engineering background will help you learn new technical skills and concepts better.

4. Can engineers work in banks?

Yes. Banks will hire professionals if they have done a financial course and show the skills and proficiency required to do the job.

5. Why are engineers good at finance?

Engineering and finance go well together for many reasons. Engineers have practical skills, technical aptitude and a mind for calculations. Many engineers who work in finance jobs have found that they can use their education in both streams to further their careers.

6. Can an engineer become an investment banker?

It is possible, provided you are willing to put in the time, effort and hard work. Investment banking is a very competitive industry. Financial courses for engineers, like the CFA or MBA, will help you learn crucial skills and improve your chances of becoming an investment banker.

Conclusion

The days of sticking to one career all your life are over. If you long to become a finance professional, all you need to do is apply for any one of the finance courses for engineers. So go for it. It is the right time to pursue your dream.