engineering to finance

Dear All,
I hold a BSc degree in communication engineering and spent 14 months as a project manager at one of the mobile operators in my country.
Frankly, I disliked the job and the project management part and I was not good at it. I prefer a more technical role.
So I decided to quit my job and follow another direction by signing as a web development engineer in a non-profit banking organization (19 months to-date).
With no background or experience in the field, I personally rely on the self-learn basis and the assistance of a friend in the field.
My problem is that I am not interested in the field (although the feedback is extremely positive on my performance), the salary is a joke, and I do not have the complete qualities to qualify for a job as a web developer outside this organization (at least not yet).
Due to the lack of job availability and the ongoing economic recessions I decided to switch from engineering as I feel my patience is wearing thin.
I consulted a professional (in the banking business) and he advised me with the CFA program.
After a little bit of research about the program, I started studying for the CFA program.
Unfortunately due to my engineering background, I found life difficult as I am not familiar with most of the financial terminologies even though I regularly used search engines to be more accustomed to those terminologies.
To pursue a career in finance, my other options are either to apply for a diploma in finance or apply for a MBA program.

My questions are:
1) How do I decide whether moving into finance is the right move for me or not?
I love mathematics. I love working things out with my hands over a managing role. I love to analyze and search for different options to solve a problem (due to the nature of programming for web development).
2) How would employers look at me as a candidate who has already changed his major once?

yehiahammad said:   2) How would employers look at me as a candidate who has already changed his major once?

Unless you can sell yourself as a quant Jedi, having an engineering background is pretty much the kiss of death for any front-office jobs in financial services.

Financial services is a lot more than math. It's all the stuff you're not grasping in the CFA.

And people skills.

If you did not like the nontechnical aspects of project management, you have no future in finance. Sorry.

yehiahammad said:   To pursue a career in finance

What do you mean when you say finance?

Asset Management? Investment banking? Quant?

It's important to know before sitting for the CFA exams because if you want to get into some areas, like investment banking for example, you shouldn't waste you time IMHO.

qcumber98 said:   Change your major to math when you get tired of finance. Then change to something else. Rinse and repeat.

batman confused. you already have a degree, why and how is OP changing majors? Changing careers you mean?
Or is OP talking about going back to school?

jkimcpa said:   OP what is your Myers-Briggs?

Sounds like INFJ, if I had to guestimate from OP post.

Unsure what type of strings you have attached where you current reside but if you cant nail a job where you are now..look out to other states/countries?

Actually this is what I need to figure out.
I have a lot of research to do and I am looking for any professional advice I can get, to make the right decision.

yes I read the "Career Change from Engineering to Finance" article and everyone says that ENG+MBA is always a plus.
Which is opposing to what most of the opinions on this post.

I can't change careers every now and then and expect to grow in a field

seems I am missing something here.
what does project management have to do with finance?

cryptography, modulation, EMW, antennas, radars, DVB systems, channel coding, etc...

yehiahammad said:   cryptography, modulation, EMW, antennas, radars, DVB systems, channel coding, etc...
Looks like an Electrical Engineering degree with a focus on communication systems. Is this degree from a US university (based on the terminology, I suspect this is from a foreign University).

yes. it is a foreign university

OP, I've changed industries/careers several times. Not by choice.

I graduated in 1979 with a BS in Mechanical Engineering, wanting to work in alternative energy. Reagan killed the field.

I then went into defense work in 1983. I found out that that's regular layoffs and crazy pressure. I had to relocate to Utah and then Maine to follow the jobs. I got an MBA in 1990 to broaden my choices.

In 1991, I changed fields and went into risk analysis for the nuclear industry. I figured that the industry was headed toward environmental remediation and got a MS in Environmental Engineering. I was surprised when the company declared it didn't have enough money to do environmental restoration and in 1995 I had to fall back on my defense background. In 1998 I lucked into the high tech boom, and had a great career until it busted in 2001. Again I fell back on my defense background and relocated to Colorado Springs. Another layoff, and then I found myself doing data analysis in the pay TV industry.

My suggestions to you:

1. All jobs suck, some less than others. Sounds to me like you're not going to be happy wherever you land. Suck it up.
2. Changing industries/fields is HARD. New learning curve, and your previous industry contacts become worthless.
3. Just get a job and commit to it.

jkimcpa said:   OP what is your Myers-Briggs?

Totally off topic (feel free to red me for it) but am I the only one is thinks Myers-Briggs is complete and total non-sense?

I did not take the Myers-Briggs test, as I was unaware of it until now.

Have you considered being a patent agent? Not sure of the demand for patent agents now nor the pay but it's worth considering. It's very technical. You will need to take the Patent Exam.

yehiahammad said:   thank you for your feedback, after a skim-research a patent agent is a patent lawyer. I am not interested in a career were law is the main focus.

A patent agent is NOT a patent lawyer.

Patent lawyer = technical background + law degree + patent exam
patent agent = technical background + patent exam

yehiahammad said:   actually yes
if this is what you mean by INFJ is http://www.urbandictionary.com/define.php?term=INFJSo you took the test and you got INFJ or you just think based on the description that's you? Because I was going to suggest actuary as you sound like an INTJ. It's odd that you'd have an engineering degree with an F.

dynosksf said:   jkimcpa said:   yehiahammad said:   actually yes
if this is what you mean by INFJ is http://www.urbandictionary.com/define.php?term=INFJSo you took the test and you got INFJ or you just think based on the description that's you? Because I was going to suggest actuary as you sound like an INTJ. It's odd that you'd have an engineering degree with an F.

I have an engineering degree and I got INFP.
What sort of career path should I consider?What kind of engineering?

CFA exams will not help you get a job. Period. And this is coming from someone who's been in finance for a while and have seen countless resumes with people who passed CFA L1 or L2. It can only complement your existing experience in finance, but it does not work if you are trying to break in.

I think the below article sums up the pros and cons quite well.

http://www.mergersandinquisitions.com/cfa-investment-banking/