Finance jobs in non-finance firms.

[kbharadwaj]

Hi,

Considering the bad market situation, how would a finance job in a non-finance firm be? What sort of careers can a financial engineer expect in the non-finance firms?

 

[alain]

which non finance firm? What sort of job?

 

[Joy Pathak]

Hi,

Considering the bad market situation, how would a finance job in a non-finance firm be? What sort of careers can a financial engineer expect in the non-finance firms?

Well, the oil companies hire lots of finance people in their trading divisions. Almost all energy companies do. Also, every big company has a risk management department, so the skills of a FE could be used there.

Lots of companies need fixed income people in their finance departments also.

can you be more specific?

 

[elliot]

Well, the oil companies hire lots of finance people in their trading divisions. Almost all energy companies do. Also, every big company has a risk management department, so the skills of a FE could be used there.

Lots of companies need fixed income people in their finance departments also.

can you be more specific?

MFE is overkill for these jobs

 

[Yan He]

Alain, actually saw some openning in physical commodity trading firms/compamies---they ask for quantitative/ risk management skills....if the hr/recuiters didn't copy & paste job descriptions from IBs

 

[kbharadwaj]

which non finance firm? What sort of job?

Alain, actually that was my question too :D

Anyway, I believe Joy has made a good post. I come from a Mechanical Engineering background so working in the trading divisions of an oil company or in the risk management department of any firm is not a bad idea because when there are very few openings out there, why not make use of them.. Something is better than nothing I believe.

However, how much can one earn through such jobs?

 

[Joy Pathak]

MFE is overkill for these jobs

True. But they are jobs that MFE students can compete for. Although, they are starting to use more advance quantitative methods in making their decisions.

One of the provincial government run hydro companies in Canada uses quite a bit of quantitative methods in their energy trading department and prefer graduates of 'mathematical finance/engineering/etc' for the positions of 'energy traders'.

---------- Post added at 09:16 AM ---------- Previous post was at 09:15 AM ----------

Alain, actually that was my question too :D

Anyway, I believe Joy has made a good post. I come from a Mechanical Engineering background so working in the trading divisions of an oil company or in the risk management department of any firm is not a bad idea because when there are very few openings out there, why not make use of them.. Something is better than nothing I believe.

However, how much can one earn through such jobs?

Regarding earnings, I don't think that should matter, although they do pay very well. As an engineer alone you can make 70K+ as a fresh engineer in some of their(oil companies) positions so I would assume the trading positions will get paid very well. At one of the positions in Fort Mcmurray/Alberta (canada) the starting salary for an engineer is 85K.

 

[kbharadwaj]

That is actually a lot man. Could quantitative business analysis come under MFE?

 

[Gordo Wardo]

Well, the oil companies hire lots of finance people in their trading divisions. Almost all energy companies do. Also, every big company has a risk management department, so the skills of a FE could be used there.

Lots of companies need fixed income people in their finance departments also.

can you be more specific?

I am a freshman undergrad and am pretty drawn to the idea of a career as a quant, but if I ultimately decide not to pursue that, how would a degree in Applied Math w/ OR minor, or a degree in OR w/ many econ+finance electives, be looked upon for the jobs you are speaking of?

 

[Joy Pathak]

I am a freshman undergrad and am pretty drawn to the idea of a career as a quant, but if I ultimately decide not to pursue that, how would a degree in Applied Math w/ OR minor, or a degree in OR w/ many econ+finance electives, be looked upon for the jobs you are speaking of?

I am the wrong person to ask. I don't know what qualities they look for at the trading desks of the oil companies but I know they are HIGHLY competitive. I heard from someone that a good way to get into the trading desks for the energy companies is to goto an MBA out in Texas since most are situated in Houston. BP has a huge desk in Chicago though. I have heard Rice MBA places well into these firms too, but I could be wrong as I don't know of it personally.

The salaries I was talking about were for Mechanical Engineering jobs , FYI.