Career Changers: How to Break Into Finance From Consulting, Engineering, or Other Fields

The traditional path to investment banking is narrow: target school, finance internship, analyst program.

But not everyone takes the traditional path. Consultants, engineers, accountants, lawyers, military officers, and professionals from dozens of other fields break into finance every year.

It's harder. The path is less defined. You'll face skepticism about your commitment and your skills. But it's possible—and your background can become an advantage if you position it correctly.

This guide covers how to make the career change. Not vague encouragement, but specific strategies for specific backgrounds.

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The Career Changer's Challenge

Before tactics, understand what you're up against.

Why Finance Is Hard to Enter

Structured recruiting. Banking and PE recruit primarily through campus pipelines. Career changers are competing outside the main system.

Skill gaps. You haven't built financial models for 80 hours a week. Your Excel shortcuts might be rusty. You need to prove you can do the work.

Skepticism about commitment. "Why finance now? Why not earlier?" You'll face this question repeatedly.

Age concerns. If you're 28 or older entering as an analyst, some firms see this as awkward. Others don't care.

Why Career Changers Succeed

Despite challenges, career changers offer advantages:

Maturity. You've worked in professional environments. You know how to handle clients and manage yourself.

Diverse perspective. Your background provides insights that finance lifers lack.

Demonstrated commitment. Making a career change requires sacrifice. That signals seriousness.

Relevant skills. Many fields develop transferable skills—analytical thinking, client management, attention to detail.

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The Two Main Paths

Career changers typically enter finance through one of two routes.

Path 1: Direct Lateral

Enter banking or PE directly from your current role.

Best for: Candidates with closely related backgrounds (consulting, Big 4, corporate finance) and strong networks.

How it works: Apply directly to banks, leverage connections, interview for analyst or associate positions.

Challenge: Fewer structured opportunities. Requires strong networking and sometimes luck.

Path 2: MBA Bridge

Get an MBA at a top program, then recruit through campus pipelines.

Best for: Candidates with less directly transferable experience, those seeking a reset, or those whose target firms primarily hire post-MBA.

How it works: Attend a top-15 MBA program. Recruit for associate positions through campus recruiting.

Challenge: Two years and $200K+ opportunity cost. But access to structured recruiting is valuable.

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Breaking In From Consulting

Consulting is the most common career change background. The skills transfer well.

Why Consulting Works

Analytical framework. You've structured complex problems and created client-facing deliverables.

Work ethic. Consulting hours, while not banking hours, demonstrate capacity for intensity.

Client management. You've navigated stakeholder relationships and managed expectations.

Presentation skills. Deck-building and communication are directly applicable.

The Gaps to Address

Financial modeling. Consultants don't build DCFs and LBOs. You must develop these skills.

Accounting depth. Consulting uses financials differently. You need deeper technical knowledge.

Deal mechanics. M&A process, due diligence structure, and transaction dynamics are new.

Direct Lateral Strategy

Target firms that value consulting background:

• Restructuring groups (operational expertise valued)
• Corporate M&A teams (strategic thinking appreciated)
• Middle-market banks (less rigid about pedigree)

Position your experience:

• Emphasize due diligence and analytical work
• Highlight industry expertise if sector-relevant
• Demonstrate financial modeling self-study

Example positioning: "I led commercial due diligence on 15 transactions at Bain. I've taught myself financial modeling and completed [course/certification]. I want to be on the other side of these deals—doing the financial analysis and seeing transactions through execution."

MBA Path

Advantage: MBB consulting (McKinsey, Bain, BCG) backgrounds are highly valued in MBA recruiting. You'll have strong access to banking associate positions.

Top programs for banking: Harvard, Wharton, Columbia, Booth, Stanford.

Pre-MBA preparation: Begin financial modeling training before business school. The summer internship recruiting starts early.

Timeline Expectations

Path	Time to Entry	Typical Role
Direct lateral	3-12 months	Analyst or Associate
MBA bridge	2-3 years	Associate

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Breaking In From Engineering

Engineers bring quantitative skills but face perception gaps.

Why Engineering Works

Quantitative foundation. You can learn financial math quickly. The analytical base is strong.

Problem-solving. Engineering trains structured thinking applicable to deal analysis.

Technical credibility. For TMT or industrials banking, engineering knowledge adds value.

The Gaps to Address

Business orientation. Engineering focuses on technical problems. Finance focuses on business problems. Show you can make the shift.

Communication style. Engineering communication is often technical and detailed. Finance prefers concise and client-ready.

Networking deficit. Engineering careers may not build finance networks. You need to create them from scratch.

Direct Lateral Strategy

Target sectors where engineering adds value:

• TMT (tech background directly relevant)
• Industrials (manufacturing and operations expertise)
• Energy (process and project engineering)

Position your experience:

• Connect engineering work to business outcomes
• Highlight any P&L exposure or business analysis
• Demonstrate clear understanding of why finance

Example positioning: "As a product manager at Google, I worked on products generating $200M in revenue. I built business cases, analyzed market dynamics, and worked with finance on resource allocation. Now I want to apply that analytical foundation to advising technology companies on transactions."

MBA Path

Engineers are strong MBA candidates—quantitative skills are valued, and the career pivot story is common.

Advantage: STEM backgrounds often receive welcoming MBA admissions. The quant skills help in finance recruiting.

Preparation: Take accounting and finance courses before or during MBA. Your engineering math helps, but the vocabulary is different.

The "Why Finance?" Question

Engineers face skepticism: "You were building things—why stop to move money around?"

Strong answer framework:

1. Acknowledge what you valued in engineering
2. Explain what's drawing you to finance (scale of impact, business strategy, transaction dynamics)
3. Connect how engineering skills translate

Example: "I loved building products, but I realized the decisions that shaped what we built—which companies to acquire, where to invest, how to structure partnerships—were made in finance and strategy. I want to be in the room where those decisions happen. My engineering background helps me evaluate technology businesses with depth that pure finance people lack."

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Breaking In From Accounting (Big 4)

Accounting is a natural transition—the skills overlap significantly.

Why Accounting Works

Financial fluency. You understand statements, accounting rules, and financial analysis.

Transaction exposure. Audit and transaction advisory work provides deal exposure.

Work ethic. Busy season demonstrates capacity for long hours.

Client service. You've managed client relationships and delivered under pressure.

The Gaps to Address

Valuation depth. Audit focuses on historical accuracy. Banking focuses on forward valuation.

Deal positioning. Accountants are on the verification side. Bankers are on the advisory side.

Speed and ownership. Banking moves faster and expects more independent judgment.

Direct Lateral Strategy

Target firms that hire from Big 4:

• Middle-market banks (strong Big 4 hiring pipeline)
• Restructuring groups (accounting skills essential)
• FIG groups (regulatory and accounting complexity valued)
• Valuation practices at banks (direct skill transfer)

Leverage transaction services experience: If you've done financial due diligence, quality of earnings, or transaction advisory—emphasize this heavily. It's the closest Big 4 work to banking.

Example positioning: "I've completed 30+ financial due diligence engagements across industrials and healthcare. I understand how buyers analyze targets and what breaks deals. I want to move from supporting transactions to advising on them."

MBA Path

Big 4 to MBA to banking is a well-worn path.

Advantage: Strong finance foundation makes MBA finance coursework easier. Transaction experience provides interview stories.

Strategy: Target top-15 programs. Your quantitative background and client experience are valued.

Timing the Move

Many Big 4 professionals transition at the senior or manager level (3-5 years experience). This provides enough deal exposure to be credible without being "too senior" for analyst roles.

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Breaking In From Law

Lawyers have transferable skills but face unique challenges.

Why Law Works

Attention to detail. Legal training develops precision essential for deal documentation.

Transaction exposure. Corporate lawyers work on M&A, IPOs, and financing—you've seen deals from the legal side.

Intellectual rigor. Law school and legal practice develop analytical depth.

Client management. You've managed senior client relationships.

The Gaps to Address

Financial modeling. Lawyers don't build models. This is a significant skill gap.

Quantitative comfort. Legal training is qualitative. Finance is quantitative.

Career narrative. "Why leave law?" is a harder question than "why leave consulting?"

Direct Lateral Strategy

Target areas where legal background helps:

• Restructuring (bankruptcy law expertise valuable)
• M&A groups (transaction documentation knowledge)
• Capital markets (securities law understanding)

Position legal experience strategically:

• Emphasize deal exposure, not legal drafting
• Highlight commercial aspects of legal work
• Demonstrate financial modeling self-study

Example positioning: "I've worked on 20 M&A transactions as a corporate attorney at Skadden. I understand deal structures, regulatory issues, and what breaks transactions. I've taught myself financial modeling and want to be on the advisory side—helping clients decide which deals to pursue, not just documenting the ones they've chosen."

MBA Path

Law to MBA to finance is less common but viable.

Challenge: Law school debt plus MBA debt is substantial. The economics require high post-MBA compensation.

Advantage: Legal training provides analytical credibility. JD/MBA or pure MBA both work.

The "Why Leave Law?" Question

This is the critical question. Interviewers worry lawyers will return to law.

Strong answer framework:

1. Acknowledge what you valued in law
2. Be specific about what drew you to finance (not generic dissatisfaction)
3. Demonstrate commitment through actions (modeling courses, networking, research)

What doesn't work: "I hated the hours" (banking hours are worse) or "I wanted more money" (lawyers make good money).

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Breaking In From the Military

Military transitions are increasingly common and welcomed.

Why Military Works

Leadership experience. You've led people in high-stakes environments.

Discipline and work ethic. Military training instills habits banking demands.

Maturity. You've operated in environments most civilians can't imagine.

Diversity value. Many firms actively seek veteran talent.

The Gaps to Address

Corporate exposure. Military experience is different from business experience.

Financial skills. Unless you were in finance roles, technical skills need development.

Cultural translation. Military communication styles may need adjustment.

Direct Lateral Strategy

Leverage veteran recruiting programs: Many banks have dedicated veteran hiring initiatives.

• Goldman Sachs Veterans Integration Program
• JPMorgan Military & Veterans Affairs
• Bank of America Military Talent Pipeline

Target roles matching experience:

• Defense sector banking (your knowledge adds value)
• Leadership positions where maturity matters
• Operational roles where execution is valued

Example positioning: "I led a 150-person battalion through deployment in Afghanistan, managing $50M in equipment and complex logistics. I developed financial and analytical skills through military training programs. Now I want to apply that leadership and analytical capacity to advising companies on strategic transactions."

MBA Path

Military to MBA to finance is a well-established pipeline.

Advantage: Top MBA programs actively recruit veterans. GI Bill helps with funding. Veteran communities at schools provide support.

Top programs for veterans: Harvard, Stanford, Wharton, Booth all have strong veteran populations.

Preparation: Military experience is valued but must be translated. Practice explaining your role in business terms.

Veteran-Specific Advice

Don't undersell your experience. Leading combat operations is harder than most banking tasks. Own your accomplishments.

Do translate for civilian ears. Avoid military jargon. Explain what you did in terms civilians understand.

Leverage the network. Veteran networks in finance are strong and supportive.

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Breaking In From Corporate Finance (F&A)

Corporate finance professionals have directly relevant skills.

Why Corporate Finance Works

Financial fundamentals. You build models, analyze investments, and understand business finance.

Business context. You've seen how companies operate from inside.

Relevant vocabulary. The language of finance is already natural.

The Gaps to Address

Transaction speed. Corporate finance moves slower than banking.

Client service orientation. You've served internal stakeholders, not external clients.

Deal mechanics. Budgeting differs from M&A analysis.

Direct Lateral Strategy

Target roles aligned with experience:

• Industry coverage groups matching your corporate sector
• Corporate development roles (natural lateral)
• Middle-market banks (value corporate experience)

Position for credibility:

• Emphasize any M&A or capital markets exposure
• Highlight analytical projects and presentations to senior leadership
• Demonstrate understanding of banking's pace and demands

Example positioning: "I've spent five years in FP&A at a Fortune 500 company, building financial models, presenting to C-suite, and evaluating strategic investments including two acquisitions. I want to work on a broader range of transactions and advise multiple companies rather than just one."

MBA Path

Corporate finance to MBA to banking is common.

Advantage: Your experience makes MBA finance coursework easier. You have relevant stories for interviews.

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The MBA Decision Matrix

Should you get an MBA for your career change?

When MBA Makes Sense

Situation	MBA Value
Distant background (e.g., medicine, education)	High
Limited finance networks	High
Target top-tier firms primarily hiring post-MBA	High
Want associate-level entry	High
Current role has no transaction exposure	High

When Direct Entry Makes Sense

Situation	Direct Entry Value
Closely related background (consulting, Big 4)	Higher
Strong existing finance network	Higher
Financial constraints	Higher
Strong technical skills already developed	Higher
Targeting middle-market or boutique firms	Higher

The Numbers

MBA costs (including opportunity cost) often exceed $300K-$400K.

Post-MBA associate total comp starts around $275K-$350K.

Pre-MBA analyst total comp starts around $160K-$200K.

Run the math for your situation. Sometimes the MBA provides access worth the cost. Sometimes it doesn't.

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Building the Skills

Regardless of path, you need to develop financial skills.

Modeling

Options for learning:

Resource	Cost	Depth
Wall Street Prep	$400-$500	Comprehensive
Breaking Into Wall Street	$500-$1,000	Very comprehensive
CFI (Corporate Finance Institute)	$500/year	Broad coverage
Macabacus	$200-$300	Excel focus
YouTube/free resources	Free	Variable

Minimum competency:

• Build a DCF from scratch
• Build a basic LBO
• Navigate Excel fluently (shortcuts, formulas)
• Build a three-statement model

Accounting

If you don't have accounting background:

• Take an accounting course (Coursera, edX)
• Study for CPA Level 1 (even if not taking exam)
• Work through accounting for interview guides

Valuation Theory

Understand the concepts behind the models:

• When to use comps vs. DCF vs. precedents
• Enterprise value vs. equity value
• Multiple selection and interpretation

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The Networking Imperative

Career changers depend on networking more than traditional candidates.

Why Networking Is Non-Negotiable

You're outside the system. There's no campus recruiter handing you interviews. You must create your own opportunities.

Many career changer positions are never posted. They're filled through relationships.

Who to Network With

Alumni from your school in finance. Shared background creates openings.

Professionals from your current industry in finance. They've made the transition and can advise.

Recruiters who specialize in career changers. Some headhunters focus on non-traditional placements.

Junior professionals (analysts, associates). Often more accessible and willing to share candidly.

Volume Required

Career changers typically need more networking than traditional candidates.

Target: 50-100 conversations before securing a position.

Pace: 5-10 new outreach attempts per week.

This takes months. Start early.

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Handling the Interview Questions

Career changers face specific questions. Prepare for them.

"Why Finance? Why Now?"

What they're really asking: Are you committed, or is this a whim?

Strong answer elements:

• Specific interest in finance (not generic prestige-seeking)
• Evidence of commitment (courses, networking, research)
• Connection to past experience (what drew you to this)

Example: "In consulting, I kept gravitating toward financial due diligence and valuation work. I found myself more interested in the deal itself than the operational recommendations. I've spent the last six months learning financial modeling and speaking with 30 bankers about the industry. I want to be advising on transactions full-time."

"Why Should We Hire You Over Someone With Banking Experience?"

What they're really asking: What value do you add?

Strong answer elements:

• Acknowledge the skill gap honestly
• Highlight what you bring (maturity, different perspective, specific expertise)
• Show hunger to learn

Example: "A traditional analyst will be more polished at modeling on day one. But I bring five years of working with technology companies—I understand how they operate, what drives value, and how to advise their leadership. And I'm highly motivated to close the technical gap quickly because I've worked hard to get this opportunity."

"What If You Don't Like It?"

What they're really asking: Will you leave when things get hard?

Strong answer elements:

• Demonstrate realistic expectations (you know about the hours)
• Show conviction (you've made sacrifices to get here)
• Explain your long-term vision

Example: "I've spoken with enough bankers to understand what I'm signing up for. The hours don't scare me—I've worked intense schedules before. I'm making this change deliberately because I want a career in deal-making, and I know the analyst years are the foundation for that."

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Timeline Expectations

Career changes take time. Set realistic expectations.

Starting Point	Direct Path Timeline	MBA Path Timeline
Consulting	3-9 months	2-3 years
Big 4 Accounting	3-12 months	2-3 years
Engineering	6-18 months	2-3 years
Law	6-18 months	2.5-4 years
Military	6-18 months	2-3 years
Corporate Finance	3-12 months	2-3 years
Other	9-24 months	2.5-4 years

These are estimates. Individual circumstances vary widely.

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The Honest Trade-Offs

Career changing into finance involves real costs.

Compensation Reset

You may take a pay cut initially. A senior consultant or lawyer likely out-earns a first-year analyst. The banking trajectory catches up, but not immediately.

Age Dynamics

Entering as a 28-year-old analyst alongside 22-year-olds can feel awkward. Some firms care about this; others don't. Culture research matters.

Relationship Sacrifice

The transition period—networking, interviewing, possibly relocating—strains personal relationships. Add banking hours afterward, and the total life impact is significant.

No Guarantee

Not everyone succeeds. Some career changers don't land roles despite months of effort. The path is possible, not certain.

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The Bottom Line

Breaking into finance from another field is harder than the traditional path. It requires more networking, more skill-building, and more persistence.

But it's done every year by hundreds of professionals. Consultants, engineers, accountants, lawyers, military officers, and others make the transition.

The key ingredients:

• Honest assessment of your gaps and how to close them
• Specific strategy tailored to your background
• Relentless networking to create opportunities
• Technical skill development through self-study
• Compelling story about why finance and why now

Your non-traditional background isn't just an obstacle—it's a potential advantage. Diverse perspectives add value. Different experiences build different capabilities. The challenge is positioning your background as an asset rather than a liability.

It won't be easy. But if finance is what you want, the path exists.