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Changing Your Career

Posted by in Articles & Interviews
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career-optionsWhat is your current career and how long have you been working in it?

I'm currently working in finance at a small hedge fund of funds in New York City. I've held this position for one year. I wear a number of hats in my current role- assisting with operations, investor relations, and managing due diligence. Previously I worked as an equity research analyst at an investment bank.

How long have you worked in the financial field in total?

In total, I've spent about two years+ in the financial field. Prior to working as an equity research analyst, I spent a summer at the same company as an intern. This allowed me to gain exposure to the day-to-day roles/projects assumed by an equity research analyst.

What type of education and training did you obtain to do your current job?

As an undergraduate, I majored in economics. While my coursework in economics undoubtedly provided me with a framework by which to understand the hedge fund of funds industry, my previous on-the-job training (summer internship/role as an equity research analyst) helped me obtain my current role. My previous job gave me first-hand exposure to understanding the ins and outs of how financial markets work, along with the different roles within the financial sphere, and how I fit into the sphere. I learned how to effectively use Excel (probably the most common application used on Wall Street) to compile and analyze data. I learned how to write concisely and integrate financial nomenclature appropriately into my daily emails and reports.

What career are you transitioning to?

I'm transitioning into teaching, specifically high school math. I have been accepted to an alternative teacher certification program, which combines student teaching and graduate level education classes to prepare participants to teach on their own in a year's time.

That's great. There's such a huge need for teachers. What motivated you to leave the financial field and go into teaching?

A lot of my high school and college extracurricular activities centered around teaching, so when the time came to make post-graduation plans, teaching was something I strongly considered. However, my pragmatic side won me over, and I elected to pursue finance - a career more in line with my major. I figured that should I discover finance was not for me, I could switch into teaching fairly easily, while the reverse transition would probably be more difficult.

After spending two+ years in finance, I have made the decision to dive into the field of education. The alternative teacher certification program I am participating in calls for a commitment of at least four years. I think the field of education has many other careers that I am also considering - school administration and guidance counseling to name a few. Hence, should I decide after a four-year immersion in urban public schools that teaching is not for me, I think it is likely that I will remain in the field, but contribute in a different way.

You mention that your assignment will be in an urban public school. What drew you to working in that environment? Is your training program geared toward teaching specifically in an urban school or could you go anywhere when you complete the program?

There are a number of factors that draw me to teaching in urban public schools. Firstly, there's a high demand. Currently, Boston schools are experiencing high teacher turnover and an aging teacher population. It seems like the right place to contribute and make a positive difference. Secondly, I enjoy working with students of all ethnic and socioeconomic backgrounds. The diversity present in urban communities would allow me the privilege of working with heterogeneous student populations, who I believe make for lively and creative classrooms.

Program participants are committed to four years in Boston Public Schools. Once those four years are up, it is certainly the organizers' hope that participants decide to stay in their schools long-term, but there is no contractual agreement. As program graduates hold a Massachusetts Teacher Licensure, as well as a Masters in Education, their credentials are likely easily translatable to other schools in other districts.

What kind of challenges did you face while considering your career change? Were you fearful of anything? Did you endure any hardships during the process?

I thought there were going to be a lot of challenges facing me with this career change, but in the end, I realized the biggest challenge was allowing myself to acknowledge and accept teaching as not just an extracurricular or a "peripheral" passion, but as something I wanted to pursue seriously as a career.

I thought telling my bosses that I was leaving finance for teaching would be really tough, but they were amazingly supportive. I thought telling my parents that the $100K+ education they had provided me with wasn't going to yield much of a financial return would be difficult, but somehow they came around without much of a fight. Many of my friends have been really encouraging of my desire to become a teacher, and I believe they are really excited for me.

I do have my doubts. I am fearful that I am too idealistic about the impact a teacher can have in urban public schools. My older sister and several of my friends are currently public school teachers. They have told me that classroom discipline is often more important than what their lesson plan is for the day. They have told me that sometimes they get frustrated when they see their students just give up without even attempting to try. They have told me they have felt hopeless after speaking to a parent or guardian who could not care less about their child's learning or progress. They have also told me of happy, wonderful moments like the student who never willingly participated in class, raising his hand to answer a question. Or a diligent student having a Eureka moment. Or a trouble-maker student who had a good class and complimented their teaching on her way out. These are the moments I look forward to, and I know without the former, the latter would not be as sweet.

I know that leaving the finance field, I am likely giving up coming back to this world. So many people want to be in this lucrative profession that for those of us who bail, we've effectively taken a one-way exit.

I'm hopeful that this will be the right decision. Like many things in life, we will see :)

You obviously took a huge departure from your current job to your new one. What compelled you to take this step? Was it one event or revelation? Or was it a series of things?

I had strongly considered going into education after my first job, but wanted to be sure that it was the field I didn't like as opposed to the long hours (my first job had pretty lengthy hours). While my current job has been great- given me exposure to the hedge fund/fund-of-funds industry/operations/investor relations side of finance- I can't say my heart is entirely into it. As I was coming upon two years, I figured I had given finance a fair shot, and now would be a better time than any to begin looking into teacher programs.

What advice would you give someone who is contemplating such a change?

Especially someone who is taking such a departure from their current situation - one that might take them out of their comfort zone?

Any transition requires some risk-taking. Write out the pros and cons of such a change first. Note that emotional happiness is a big pro :). Be sure that the change is something you will want to/be able to stick with. Know that a jumpy resume will be tough to explain down the road. Speak with others currently in the profession about their daily routine, their daily ups and downs. Could you see yourself being happy/successfully dealing with all of those roles? Shadow others in your career of choice. Be realistic about the financial ramifications of such a change, and plan accordingly.

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