Career change from Banking as a Financial Advisor for 5+ years to Project Management has been a challenge for some especially if they do not possess PM skills of more than one year, what advice and information can you give to someone so enthusiastic about making this change to PM? Is a qualification in PM needed for the change to be possible? Also, currently pursuing an MBA in IT project Management. Saving Changes...
I would like to recomend to consider volunteering or contacting local PM chapters for networking. Leverage your financial background as an asset. I believe that your ongoing MBA in IT project management will help with transition credibility. Saving Changes...
To add to Mayte's excellent suggestion, I'd recommend:
1. If you can't find an opportunity to move into a PM role in your current company, look for volunteer roles with a not-for-profit organization where you can practice what you are learning.
2. Seek a mentor (seasoned PM) through your local PMI chapter.
3. Be flexible about how you get into the profession. For many, a stint as a Project Analyst or Project Control Officer is a stepping stone into their first PM role.
Senior Projects Manager | Field & Marten AssociatesNew Westminster, British Columbia, Canada
Jasmine, I do agree with my fellow colleagues. Moreover, you should always remember that 75% of what we do as PMs has to do with our soft/interpersonal skills and those skills are transferrable. The rest 25% are industry specific mostly related to technical and business backgrounds in that specific industry. If you are going to move to Project Management and still remain within the financial sector than that shouldn't be as difficult compared to wanting to move to a totally different industry like construction. Saving Changes...
Luis BrancoCEO| Business Insight, Consultores de Gestão, LdªCarcavelos, Lisboa, Portugal
Dear JASMINE
The topic you brought to our reflection is very interesting.
Thanks for sharing
It is impossible to embrace a new "profession" without knowledge
Congratulations on taking the initiative to attend an MBA IT project management course
Have you considered asking the HR department of the company where you work to transfer you to other functions?
How about the idea of ​​talking to your company's GP's about the Project Management profession: What they do, how they do it Saving Changes...
Markus KopkoAI Enabler for Project & Program Mgmt | Founder PMotion.ai / The PM
AI Coach| PMotion.aiHamburg, Hamburg, Germany
Dear Jasmine,
Transitioning from a career in banking as a Financial Advisor to Project Management is indeed a significant shift, but it's entirely feasible, especially with your enthusiasm and ongoing MBA in IT Project Management. Here are some steps and considerations to facilitate this career transition:
1. Leverage Existing Skills and Experience:
Financial Acumen: Your experience in banking and finance is a valuable asset. Project management often involves budget management and financial decision-making, skills you already possess.
Client Relations: As a financial advisor, you've likely honed skills in client interaction and understanding client needs, which are crucial in stakeholder management in project management.
2. Acquire Project Management Knowledge:
Formal Education: Your MBA in IT Project Management is a great start. It provides a theoretical foundation in both IT and project management.
Certifications: Consider project management certifications like CAPM (Certified Associate in Project Management) or PMP (Project Management Professional), if you meet the requirements. These globally recognized certifications can significantly boost your credibility in the field.
3. Practical Experience:
Hands-on Experience: Try to gain practical experience in project management. This could be through internships, volunteering in project-based roles, or taking on project-related responsibilities in your current role.
Networking: Connect with professionals in the project management field. Networking can provide insights into the industry and lead to job opportunities.
4. Understand IT Project Management:
Given your MBA specialization, focus on understanding IT project management's specifics, which has unique challenges and methodologies, such as Agile or Scrum.
5. Soft Skills Development:
Communication and Leadership: These are key in project management. Leverage any opportunities to develop these skills through formal training or real-life experiences.
6. Start Small:
If the direct transition to a project management role seems challenging, consider related roles such as project coordinator or assistant project manager to build up your experience.
7. Stay Informed About Industry Trends:
Please keep up-to-date with the latest things in project management, especially in the IT sector. This will make you more competitive and relevant in the field.
8. Is a Qualification Necessary?:
While not always mandatory, a qualification in project management can significantly enhance your prospects, especially when changing careers. It provides both knowledge and demonstrates a commitment to the field.
Conclusion:
The transition to project management from a financial advisory role is a journey that requires a combination of leveraging existing skills, acquiring new knowledge, and practical experience. Your current pursuit of an MBA in IT Project Management is a strong step in this direction. Remember, the skills and experiences you've gained in finance are valuable assets in project management. The key is strategically positioning these skills while continuously building your project management expertise.
Thank you, everyone, for the valuable advice you have shared. It has certainly broadened my perspective and encouraged me to explore new approaches to enter the field of Project Management. Currently, I am dedicated to pursuing my MBA in the United States, having relocated from Canada three months ago. Despite being in unfamiliar territory, the field I am entering holds great promise for personal and professional growth. Although I have started my studies for the CAPM certification, landing a job immediately poses a challenge due to my lack of experience in project management and project handling. Saving Changes...
Online Community Specialist| PMINewtown Square, Pa, United States
Hello Zane - and welcome to PMI's Online Community! Regarding your inquiry, I highly recommend reviewing the various posts contained within our Certification Discussion Group at u style="background-color: rgb(255, 255, 255); color: rgb(0, 0, 255);"https://www.projectmanagement.com/discussi...cation-central./u Here you will find great suggestions from your fellow colleagues. Here is a prior post that may be helpful. https://www.projectmanagement.com/discussi...er-change-to-pm Saving Changes...
Community Champion
PMI Team Member
