Posted in Academics but figured it may get more hits here. Just looking for some general advice as well as any info regarding the questions I have below. Thanks!

I searched and didn't find any topics on MS in Finance, mostly just MBA threads. Was hoping to get some advice from people in this field. I am currently in a supply chain environment but would like to switch career paths. I have been looking at applying to either UTD or UNT Online. So a few questions..

1 - Is it possible to get a job in the Finance field without a degree in it?
2 - Does where you get your degree, and whether it is traditional or online, matter?
3 - Any advice for preparing for GMAT, what is a good score to get?
4 - Advice on the field and job market in general.

Depending on your undergrad, consider a CFA as well.

Industrial Distribution. Don't most people get their CFA after a Finance degree?

I was ID. Even though I'm already in finance, I'm considering getting a CFA. My company likes the CFA. It is very rigorous, generally well regarded, and a lot cheaper than an MBA or MSF.

The best advice I can give you is to reach out to people in the specific field/department you want to join and talk to them about it. Most people are immensely flattered by that kind of request. They can give you more specific advice than any of us could plus the face time will help you a lot when it comes time to apply. Play your cards right and the hiring manager will be asking you to apply for the job you want, which is a very good spot to be in.

I don't have any particular advice beyond that. While I've been thinking about advanced degrees and certs for 5-6 years, so far haven't needed them to get where I want to go and the things I'm hearing suggest that that won't change. On this board, listen to Duncan Idaho when it comes to evaluating the MBA.

I'm a Charterholder.

Even if you pass all of the exams, you need 48 months of relevant finance work experience to earn the designation.

The exams are very broad, but not impossible IF you either have a degree in finance, have work experience in finance or both. If you have neither, I wouldn't advise you to pursue the CFA designation as an entry into a finance career.

Ok great, thanks guys. Definitely have started reaching out to people in the field and am going to speak with some advisors at the colleges as well

The two above are pretty accurate. CFA is generally viewed as tougher than a MSc or MBA (in general, an M7 will do more for you there), but you'll also need work experience.

In considering UNT or UTD, I would pick UTD. Much more recognizied in the DFW marketplace than UNT.

If you can find a better online program (I think Cornell or UNC do), or consider SMU. Those will be viewed better.

Assuming you're looking to work in Finance (excluding CFA / MBA - I've got no experience there)...

I was ECON, and my first gig was as a Financial Analyst. That got me exposed to systems and Cost/Project Accounting, eventually Corporate Finance, and then I did everything else under the sun (Sales, Marketing, Operations, Business Development etc).

I'd say if you can demonstrate good excel and analytical skills you should be able to open a door somewhere.

If you are looking for credentials, in lieu of formal education (MBA), you could look into some online courses on Excel, Finance, Modeling, Big Data/Visualization etc.

Also, one thing I used to do for job interviews was to do a write up on the company/market and the role, and how I would approach it. I'd take into the interview with me and more times than not, the interviewer would ask me about it and request to take a look. If they asked to keep it, it was a pretty good sign I'd be getting a call back/offer.

Good luck....

Can you define what you mean by Finance, that may help narrow the advice.

If Finance means FP&A in a non-banking, insurance, or asset management company: maybe go MBA or MSF. The 48 months of applicable experience for the CFA has narrowed in the last decade from vague "Investment decision making process" to explicitly securities / asset management. This means, that even if you pass all 3 levels, you'll be twiddling your thumbs waiting on experience before getting the charter.

If Finance means working for a bank, insurer, or asset manager, then the CFA will carry more weight.

Yes, fp&a is I believe what I would like to do. While I'm personally interested in investing I'm not sure I want make a career out of it or work at a bank

I am a fp&a mgr for a fortune 100-150 company and nobody has a cfa, most of the higher ups have an MBA. The BU I work for is O&G automation/fiscal measurement. I got lucky getting to mgr so fast without an MBA but that is my next move.

Agree with others that the CFA isn't the right credential for FP&A.

... Also, be sure to pitch your practical business experience. If you're doing it right, FP&A is pretty focused on operations and what is really going with the business. A background in ID/SCM shouldn't count against you at all, even compared to people with finance degrees. This is an anecdote, but when I was in FP&A most of the best performers came in with more exposure to operations than to finance.

Ulrich said:

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... Also, be sure to pitch your practical business experience. If you're doing it right, FP&A is pretty focused on operations and what is really going with the business. A background in ID/SCM shouldn't count against you at all, even compared to people with finance degrees. This is an anecdote, but when I was in FP&A most of the best performers came in with more exposure to operations than to finance.

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I agree. I actually started as an analyst in FP&A right out undergrad. Did that for 4 years and then an opportunity came to take over the sales and ops planning role within our same BU. I did that for two years and just recently got back into FP&A. Having that experience working with sales, ops, marketing, etc has really helped so far back in my finance role.

Thank you all for the info, was hoping that my background would help so that's good to hear.

Any chance self teaching myself some finance/accounting/excel could help me get in the door somewhere as long as I plan to get my Finance degree as soon as possible as well?

Yes. Accounting first, finance second. FP&A tends to be more focused on P&Ls than capital markets or cash management type stuff.

Definitely start developing your excel skills. I'd try to use excel to set up P&Ls and answer problems as you work your way through whatever sources of knowledge you find. Stretch yourself. Work on summarizing complex information in clean formats that tell a story at a glance. Charts. Getting stuff into PowerPoint. Try reading one of Edward Tufte's books on data visualization, and again try doing the things you see in excel.

Ok good to know. I found Corporate Finance Institute which has some free courses online. I know some other colleges have free online courses, I would probably also look at just getting some used textbooks with problems and also youtube videos or books on excel for finance/accounting.

Take a look at Coursera online and check your community colleges for Online classes or crash courses

Coursera does a good job of spelling out content in each module - look at "Business Finance and Modeling" etc to get an idea of a syllabus to do your own self learning if you don't want to pay

You could also do a free trial with some data visualization software vendors

but I wouldn't overlook the value of some basic DB skills and report writing. Spend some time with MS Access and Excel, learn some lookup / reference (INDEX MATCH) and some basic financial formulas (NPV, IRR, FV/SCHEDULE). I'd be inclined to start there before data visualization - lots of folks still doing heavy lifting in excel.

You could also do a short intro seminar thru some accounting/FP&A associations

Thank you, appreciate the help.

Also if anyone knows of any opportunities where I could get my foot in the door in the dfw area, that would be awesome. Slim chance I know, but figured I could throw it out there.

I'm going the basic accounting course on the website I posted now. Will just keep moving along with self education while still looking at grad school.

Checked out the Coursera website, basically exactly what I was looking for in addition to the CFI material, thanks texrover.