Risk Analyst's - I Need Your Guidance

First of all, thanks for reading the whole thing. If not, there is a tl;dr at the bottom.

Background details (will add here as needed):
- I'm 22 years old
- My BSc major is "engineering science"

I'm currently studying engineering at university, it's a 3 year bachelor + 2 years masters degree. At the end of my bachelors I'll come out with a BSc. I'm currently in my 5th year of uni (originally started in computer science) and in my final semester of my bachelor. Assuming all goes well I'll be graduating at the end of this year. Being in uni for 5 years and only having a BSc by the end of it has taken a toll on me and have no motivation to continue with my masters. I've instead decided to look into a career change and moving into risk analysis, ideally for a bank.

My questions to you are, what would you do in my situation? What would be the best way for me to approach this change and step foot into the industry? Do you enjoy your job? Do you feel like you have the opportunity to move up or is it a dead end?

Thanks in advance for any help,
Sincerely a confused student…

tl;dr
I'm sick of uni and want to pursue being a risk analyst when I get my BSc at the end of this year.

Comments

  • Do you have any work experience, specifically in risk analysis? If not, my advice would be to apply for the graduate programs within the banking industry. Once you have a foot in the door, it'll give you a chance to try different areas out and move into risk analysis if you still wish to do so.

    If your drive to stop university is just to stop being a poor student and to earn more money, then my advice would be don't (unless you're struggling to make ends meet). Starting salaries my seem a lot to you now, but in the grand scheme of things it's peanuts in comparison. You'll be working for majority of your remaining life so don't rush in unless you're certain. The entry level salary is not worth rushing your University days, both academically and socially.

    Finally, another option other than continue Uni or starting work would be to go travelling for a year or so. Do a working holiday stint and gain some good memories and friends!

    Good luck with whatever you choose. Might sound cliche, but you at your point in life where you have all the options on the table with nothing to lose. Don't go down a rabbit hole because of something shiny in the short term.

    • No, I have no experience at all. I was looking into applying for grad programs as I know almost all the banks have them.

      That is part of the reason I want to stop university but the major reason is that I don't enjoy studying. I hate the idea of spending 8 hours at uni and then coming home to study even more rather than have time to myself.

      Did consider travelling but I'm not too willing to go a year without seeing my girlfriend.

      Thanks for the advice!

      • Did consider travelling but I'm not too willing to go a year without seeing my girlfriend.

        If you travel, you could potentially see many girlfriends!

        • "Potentially" is not a risk I'm willing to take haha

  • +1

    If uni has taken a toll on you, just wait til you start work :) Any particular reason you're looking into risk at a bank?

    I'm currently a senior risk manager at a bank. I enjoy it because it's dynamic, and I do feel like I have the opportunity to move up. But it also depends on which risk area you are looking in (operational, credit, market, etc) and ultimately, what you make out of the role.

    But agree with above re: rabbit hole and something shiny. Corporate ladder is overrated imo

    • I feel like work would be easier, I enjoy work more than I enjoy uni. Correct me if I'm wrong but unlike uni, when work ends at 5m, it ends until it starts again the next day, you don't need to go home and do extra study or work on an assignment etc.

      I'm not sure what area I want to get into, I saw graduate programs that offer a rotational model which lets you have a taste of each area.

      • +4

        but unlike uni, when work ends at 5m, it ends until it starts again the next day

        Except it doesn't. You shouldn't be aiming for Professional services work if you think you can stop thinking about work once the hour hand hits 5pm, at least if you intend to climb the corporate ladder.

      • Unless you're doing something simple and local - work doesn't end at 5pm. University was a lovely experience where you're studying what you've chosen to do. Work isn't anywhere near to anything like that unless you're EXCEPTIONALLY lucky. When you have a job you have a commitment to deliver something and it's something you'll work on for months and maybe years. During that time we work nights sometimes and have late night teleconferences to talk to the world.

        And because of the stress, sometimes we come to Ozbargain to relax, find a deal and maybe impart some advice.

        BTW - getting into graduate programs is bloody hard work so don't expect one to fall into your lap. You'll need some experience and interest in going above and beyond to get placed.

  • +3

    that sounds risky

    • +1

      get out, dad

  • +7

    If graduating from uni has taught me anything it is;

    I should've become a Tradie in year 10

    • Wog parents dictate what you be in life. I wish I could've been a tradie…

    • +1

      They knock off at 3pm, right? :p

      But start super early I suppose…

      • Depends on the trade … Country/regional tradesmen do that and get to earn the big dollars - due to trade shortages.

    • +1

      100%

  • Why ideally a bank? You can be a risk analyst in any corporation.

  • I completed bachelors, worked for a few years then dropped down to part time work so I could complete a postgrad in a completely different field to where I thought I would be.

    Going from bachelors to work is a good path imo. Postgrad doesn't really give you that much of a leg up against competition if you are going for your first job, but it can be a real bonus later in life as it can help you diversify or specialise depending on what you do. So don't feel bad about postponing your postgrad now. You can always do one later and will be in a much better position then to know where you want to focus your further studies.

  • best to be a risk analyst for a garbage company

  • You can do a Masters by distance ed and start work now, while still studying your Masters part-time.

Login or Join to leave a comment