Career Change - Banking to IT

Sasikumar.ch

Hi,

I need advice, suggestions, tips, steps and anything else that helps me in making the transition from Banking to IT sector.

I'm sorry if I'm posting a new thread on this topic, I did a search but didn't find suitable to my query.

Basically, I hold a B-Tech Degree (Electronics & Communication Engineering) completed in 2008 and I have 5 years of experience in various divisions of Banking domain. I have started working as Technical Support Executive (Symantec Norton 360) after my graduation but due to recession I was laid off. Due to financial circumstances, I couldn't stay unemployed so took the offer in Banking domain with a better pay too. After two years, I tried to switch and got into HP (Service Desk) and unfortunate health issues, had to quit. After 6 months, I went back to same company (Banking) in a senior role, stayed for a year there. Later went to UAE on visit visa searching for IT role, but couldn't find anything in a month's time; however, I got an Assistant Manager role in Banking domain

Now, again thinking of making a permanent move to IT backed up by some certifications/preparation (takes time I know but ready to start the transition). I am always interested in networks/servers/security etc even though I don't have experience I am confident I can learn quickly. I gave all the details about my career path because I want to make a point that my "financial condition" is also tied up with the transition. I realize that career change mostly doesn't happen with a good package, but I have read/heard people changing careers atleast at their same current package which I will absolutely happy.

Thank you so much for being patient and reading till here I am open to your suggestions, comments and steps to make my transition successful.

Thanks again!!!

No_Nerd

Why not try and move into audit in banking then test for some of the IT/ Audit certs. Banking is not a bad place to be . I have several friends who work for different banks in the banks InfoSec department.

techfiend

Get A+ certified first. Then apply for help desk, desktop support or noc tech positions. There are really 2 drastic different paths to take real early on. You could get in with an enterprise that's going to pay decently but you likely won't be gaining valuable experience, this usually keeps you at this level for a few years at least. The other path is going to a smaller company, which will likely pay much less but you'll be able to gain more valuable experience leading you to bigger money within a few years and get you to big money much quicker. Keep climbing up the cert ladder. After the A+ I'd suggest jumping right into CCNA, MCSA or Security+ depending on what you're interested in and what the job market is looking for. It also helps to certify experience but early on it can be tough to do. While VCP-DCV is arguably the most beneficial 'no experience' cert mainly due to supply/demand, it can be very expensive unless you can go through one of the cheap routes (Stanly/other tech schools, CCNA+VCA, WGU).

I had both of these options on the table when I began in 2014, I chose the latter route and have already met my 4 year financial goal 15 months into my career. My 6 year goal, which is roth ira ineligibility, I've moved up to a 4 year goal. I think it's possible if I focus on the right things and get the right certs for the job market.

AverageJoe

I think the two main approaches you could take are:

A) Starting basically from scratch in IT.

or

Leveraging your banking experience to make a lateral move into IT.

If you do A, you'll probably need to focus on introductory certifications like A+ and Network+ and introductory positions (with introductory pay).

If you do B, you can try as No-Nerd suggests and look at a move within your bank, but you may also be able to leverage your experience and move into infosec management positions elsewhere dealing with auditing, governance, and compliance. Look at ISACA's Certified Information Systems Auditor (CISA) certification and see if your experience aligns with it. If it does, you could be well on your way to a management level position in infosec/cybersecurity.

Best of luck!

Sasikumar.ch

Im looking for options like these, since there is no way i cant compromise on my current package (not much though) because of obligations, im trying to find a path to make this transition smooth. CISA looks good in terms of pay and also the number of jobs with it. Spoke fo coupld of friends and they suggested to learn linux first using vmware virtual machine, then learn server technologies, as this will build strong foundation, later i can go for certification on CISA. My question is, if i get CISA straight away (its a dream i guess) stil, will it benefit for me ? Or do you suggest anyother path?
Im actually in AML/Compliance roles as a consultant and not directly in bank

Sasikumar.ch

AverageJoe wrote: »

I think the two main approaches you could take are:

A) Starting basically from scratch in IT.

or

Leveraging your banking experience to make a lateral move into IT.

If you do A, you'll probably need to focus on introductory certifications like A+ and Network+ and introductory positions (with introductory pay).

If you do B, you can try as No-Nerd suggests and look at a move within your bank, but you may also be able to leverage your experience and move into infosec management positions elsewhere dealing with auditing, governance, and compliance. Look at ISACA's Certified Information Systems Auditor (CISA) certification and see if your experience aligns with it. If it does, you could be well on your way to a management level position in infosec/cybersecurity.

Best of luck!

Yeah, im looking for paths such as your option B.
CISA is one of it and im still analysing few more options, since any technology to learn takes time and money, so need to find one that suits my experience and gains me good package.

Sasikumar.ch

techfiend wrote: »

Get A+ certified first. Then apply for help desk, desktop support or noc tech positions. There are really 2 drastic different paths to take real early on. You could get in with an enterprise that's going to pay decently but you likely won't be gaining valuable experience, this usually keeps you at this level for a few years at least. The other path is going to a smaller company, which will likely pay much less but you'll be able to gain more valuable experience leading you to bigger money within a few years and get you to big money much quicker. Keep climbing up the cert ladder. After the A+ I'd suggest jumping right into CCNA, MCSA or Security+ depending on what you're interested in and what the job market is looking for. It also helps to certify experience but early on it can be tough to do. While VCP-DCV is arguably the most beneficial 'no experience' cert mainly due to supply/demand, it can be very expensive unless you can go through one of the cheap routes (Stanly/other tech schools, CCNA+VCA, WGU).

I had both of these options on the table when I began in 2014, I chose the latter route and have already met my 4 year financial goal 15 months into my career. My 6 year goal, which is roth ira ineligibility, I've moved up to a 4 year goal. I think it's possible if I focus on the right things and get the right certs for the job market.

Bro, Im 28 now and cant afford starting from scratch again. I understand that is how one shud start their career in IT but i believe there might be workarounds utilizing experience i gained in banking and not affecting my paygrade.

ImYourOnlyDJ

AverageJoe wrote: »

I think the two main approaches you could take are:

A) Starting basically from scratch in IT.

or

Leveraging your banking experience to make a lateral move into IT.

If you do A, you'll probably need to focus on introductory certifications like A+ and Network+ and introductory positions (with introductory pay).

If you do B, you can try as No-Nerd suggests and look at a move within your bank, but you may also be able to leverage your experience and move into infosec management positions elsewhere dealing with auditing, governance, and compliance. Look at ISACA's Certified Information Systems Auditor (CISA) certification and see if your experience aligns with it. If it does, you could be well on your way to a management level position in infosec/cybersecurity.

Best of luck!

I was working as a bank teller when I went with option A. I knocked out A+ and Network+ before applying to the Help Desk where I was able to leverage my experience to excel and move up quickly. And now I'm getting ready to add Network Engineer to my signature not even two years later

If you can't afford to take an entry level IT position then go for option B and get into a less technical role. You may be surprised however that some companies pay their lower IT staff very well. And once you get in you will likely move up pretty fast.

Sasikumar.ch

ImYourOnlyDJ wrote: »

If you can't afford to take an entry level IT position then go for option B and get into a less technical role. You may be surprised however that some companies pay their lower IT staff very well. And once you get in you will likely move up pretty fast.

Honestly, I am pretty unsure on the salary bracket in IT sector. Right now I am earning around 3500 USD per month as a Senior Analyst (AML/Compliance) in UAE. If you say I might get the same amount or even more than that at entry level IT jobs (with certifications) I will be really happy to take that option.

Im sorry guyz, I can understand that I need to compromise on something to get what I want (atleast it pays off in longer run), but the condition i am into now, I really cant afford any dip in my salary. Please help me out here!!!

LeBroke

Sasikumar.ch wrote: »

Im sorry guyz, I can understand that I need to compromise on something to get what I want (atleast it pays off in longer run), but the condition i am into now, I really cant afford any dip in my salary. Please help me out here!!!

If it were that easy, everyone would be doing it. Oh wait, at a certain point (late 90's, and again, mid 2000's), everyone was. Entry-level market is pretty flooded, so salaries are low.

I have no idea what salaries are like in UAE, but going off the title, a senior analyst seems like a 70-80k job in medium cost of living cities in North America (i.e. not New York, Seattle, San Francisco). If you were to start in an entry-level IT role, it would most likely take you 1.5-3 years to work up to that point if you were pursuing a purely technical path. 3-5 is more likely if you aren't very computer minded to begin with.

Your best bet is a lateral move into a similar role. However, keep in mind that a CISA by itself probably won't get you that salary - any infosec jobs still require a significant amount of experience. You'd need something more in line with financial compliance or risk management as it relates to IT or security, and then get into more IT from there.