AboutPaul Henneman Expertise Stock forecasting and fair market valuations.
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Past/Present clients CBSMarketwatch.com, Hoovers.com, Multexinvestor.com, Bank of NY, numerous hedge funds and institutions, other partners and clients can be viewed at http://www.valuengine.com/about/careers.html
Expert: Paul Henneman Date: 5/28/2007 Subject: educational instution name suggestions
Question Dear Mr. Henneman:
In reference to your statement that the final degree is what you are after, and the quality of the name of the school is fairly important in this business; I live in Arizona, can you suggest a school in this area? Also, are you aware of any on-line education once you advance further into the degree?
I am considering this as a career change, attending school while working full time (in the medical field) and was interested if you are aware of any sponsorships, etc., (other the standard educational assistance offered) available for a financial degree. I'd like to avoid having to work full time during my education.
I am glad I found your page tonight. I do appreciate your time and suggestions.
Sincerely,
Wendy
Answer Wendy,
Thank you for your question!
Let me start with the online education first. If this is the only way to fit things into your schedule, it could be of benefit. However, like in most industries, I have to admit that any type of online eduction will put you at a disadvantage as you will be competing for jobs with others that have degress from full institutions. Online education is not bad, simply not looked upon as highly as something from a physcial school.
Unfortunately I am not that familiar with the education system in Arizona. Of course Arizona State comes to mind, but I am not sure of the quality, or even existence, of a finance department there. I would look into this school first, it has national recognition. If they have some sort of finance degree program, it will likely be good, and recognized well across the country.
It will honestly be very difficult to get a full degree while working full time as well. I know that it will be tough. But if you can throw yourself into your planned career change, all the better. It would be far preferable to work part time if possible, and finance your education with additional loans and grants if at all possible. You will learn more, be able to truly commit yourself, and be able to concentrate on your grades. There may be some additional funding available through grants, I would check with the financial aid department of the school you hope to attend. This is another advantage of a state school: Lower tuition if you are a resident of that state, and generally good financial assistance through loans, grants, or work study programs.
In summary my suggestion would be to research your decision for a career change well, ask around, do some google searches, see if there is a particular area of finance you are most interested in first. For example, do you want to work with people as a financial planner and help them plan for their retirments and financial well being, or are you interested in the fast paced life of a trader, or are you interested in the intellectual pursuits of research? Of course you do not need to decide right away, or if you do have an idea there is no reason why your focus cannot change in the future as you learn more. But being aware of the possibilities will lead to more confidence in your decision for a career change and increase your desire to really throw yourself into it.
The next step would be research the school you want to attend. Again, I am a big fan of a good state school. Tuition is much lower, the eductation is generally excellent, and good state schools are recognized as such around the country, even around the world. (there are many international opportunities in finance).
I know it would be intimidating to do so, but if you are sure this is what you want to do, I would suggest not being afraid of student loans. This is perhaps the one source of debt people can take on that will pay for itself many times over (as long as you see it through of course). Finance is a highly paid industry, the loan repayments should not be a great burden if you make this career change. It is more important to give yourself every education advantage. State schools, working part time, and the investigation of grants or work study through the schools financial aid department will help reduce the amount of loans as much as possible. Reducing your monthly expenses as much as possible before starting school will also help, for example if you have car payments consider sell the car and buying something inexpensive and used to eliminate a car payment. Moving to an acceptable but cheaper place to live also helps, and anything else you can do to maintain a comfortable but inexpenseive life style. It will all pay off in the end.
I hope this helps! I always admire those interesting in making a career change, it often requires determination and focus. But the people that do this are generally very successful in Finance, they are more focused and determined than the average younger person that goes into finance programs straight from high school.
Please do not hesitate to follow up with me if I can be of any further assistance. I wish you the very best!
Sincerely,
Paul Henneman
President
ValuEngine Inc
www.ValuEngine.com
