Advice wanted: Changing careers from non-IT field 1

[degoon]

I've been in the financial services industry for the past 8+ years and have done reasonably well. I hate to say it, but the business of investments is no longer what it was before the tech-bubble bust.

After much agonizing and reflection, I've decided that it's now or never for me to try a career in IT. Ever since I earned my BS in Finance from that expensive private university, I have wished I had studied MIS instead.

Anyways, age and ego aside, I've enrolled at UCLA Extention for the "Professional Designation in Systems Analysis" program. It's a one-year program that seems to cover just about everything IT. I hope to obtain some certifications as well during the year.

I feel that I've got an idea what I need to do academically, but I'd really appreciate any advice you all have to offer.

 

[willir]

Hmmm

Well, as many of us already know, changing careers is tough. Reasons for changing -- lost our passion, no jobs or poor pay are perhaps three major reasons why.

We all have skills sets, and we may be strong in one and weak in another.

Ther perfect job is to find one where you have a strong skill set, the demand for services is acceptable to more than fair, and the pay is good. If you can not find the perfect job, you will have to consider your priorities on skill set, current demand and pay.

As you probably already know, the current IT situation is not great -- it seems to be getting better, but then there is the fear of outsourcing. Plus, I am fairly certain, a recession is looming around the corner.

And pay for entry level IT may not be great.

What you do have going for you is that the marriage between finance and IT is a very good fit.

So thats the back ground.

Next, if you want to still pursue IT, I assume you know that IT is actually a very diverse field -- desktop hardware, infrastructure hardware, operating systems, retail software, business software, database admin, helpdesk and tech support, systems admin, LAN and WAN network systems...

Do you know which to area to gravitate towards? System analysis is more software.

Take a look at career paths for each. Look at current tends in each area.

Lastly, have you considered career counciling. At your stage in life, it may be a great investment.

I understand your current position, and I wish you luck in the path you are about to walk.

 

[RichardMoran]

I remember reading somewhere (It may have been Rich Dad, Poor Dad) that most people are one skill set away from success.

Having Finance as your skill set is fine. Having IT as your skill set is fine. Having both could be great.

It wouldn't make sense to throw away your expertise gained in finance, to pursue a career solely using a newly acquired set of IT skills. Combining them, in my opinion, would be the best thing to do.

Financial systems are generally expensive to purchase. They can not be implemented by someone with purely IT skills. They can not be implemented by someone with purely financial skills. Usually the companies who write the systems use implementation specialists who have a good understanding of IT systems and a solid background in Finance. From my own personal experience, I can say that to have these specialists on site can cost a fortune. They are a valuable commodity and as such can command high salaries. The same can usually be said whenever their is a combination of skills. In my previous job I was IT Manager for a manufacturing company, and the specialists imvolved in implementing systems had degrees in manufacturing, and had picked up IT later on.

It may be worth looking at companies that implement the sort of systems that you have used in your financial area, and seeing what experience they look for when recruiting. They will provide training in the implementation of their product, so your IT knowledge will not necessarily have to be that great.

A year long course will barely scratch the surface of IT. You may end up with a reasonable overview of the types of systems/services that are required in business, but it will take many more years to learn how to fix/install them. As willir says above, IT is a diverse field, perhaps the most diverse. I know people that have been in development for over 10 years, considered experts in what they do, but they wouldn't have a clue how to set up a server. I myself have changed career several times, but have always worked in IT! I started in PC support. Later I went into Mainframe programming, for which my previous skills had almost no value. I was made redundant many years later during a recession, and after a period of unemployment ended up doing database management for direct marketing companies. I went back into development, on PCs this time, before finally ending up looking after networks, which then led into IT management. You can see, that I have had to re-invent myself several times in my career. Most people I know that have worked in IT for a long time, have been through the same experience. It's no safer than any other career, but there is the opportunity to move into different areas should the need arise.

Finance and IT are an excellent fit. Technologies may change, but companies will always need IT, and they will always need Finance. If you ensure that you shape your combined skills correctly you should be able to make a successful future for yourself.

Rik

 

[mmorancbt]

I agree with the above that your Finance background can be a great in-road to a strong IT career. Much of my consulting is spent automating financial reporting tools with Access, Excel, etc.

It is important to note that MANY IT departments fall under the watchful eye of the CFO and the Finance department. Also, the finance background provides you with greater business understanding (in most cases) than those who focus purely on IT.

Good luck!

Matthew Moran

http://www.cbtoolkit.com

 

[degoon]

Thank you all for your great feedback. As all of you have noted, I'm hopeful that the combination of finance and IT will lead me green pastures.

For the moment I think I'd like to focus somewhat on business software or database management. It seems to me that financial companies may be particlarly interested in the ability to manipulate/utilize data and software.

It'll be about another 2 weeks before I can sit for my A+ exam. Provided that I pass, any suggestions as to what type of work or internship or anything else I should do? I'd like to try to do whatever I can so that I'm as marketable as possible by year-end (when I finish my school courses). I realize that I may not get paid very much, but it's a sacrifice may be willing to make. Thanks again for all your advice!

 

[mmorancbt]

I have a sample chapter of my book titled, The Entry-level Dilemma, Breaking Into IT.

You can get there at

http://www.ciscopress.com

- and look at the page for The IT Career Builder's Toolkit

One thing you will find is that I do not necessarily advocate looking for work in an IT Department. Instead, I would look to provide analysis and reporting as a Financial Analyst, or even an Accounting Clerk.

Not that you cannot look in the IT department but you may have some freedom to undertake projects you won't see for quite some time in the traditional IT department construct.

Also, I am a big believer in opportunites created at small to mid sized companies. 30 - 200 people has a typically fluid and agile perception on IT projects and their value.

To make it work, however, you need to create a strong peer network of people you can go to for answers (and to provide answers). Tek-tips is just such a place.

Using the model I am laying out, you can use your known skills much more rapidly and provide value. Providing value is the name of the game.

I hope that is helpful.

Matthew Moran

http://www.cbtoolkit.com