SOP of an Engineer for Master in Finance

Career Care has helped many Engineers to divert from their typical profile and begin their careers in Finance, Management or creative fields. This is a real Statement of Purpose who successfully applied to top universities in Europe successfully.

Statement of Purpose of an Engineer for Master in Finance

As a believer of John Keynes school of thought, I fondly remember one of his famous quotes that “The difficulty lies not so much in developing new ideas as in escaping from old ones”.

After completing my schooling, to explore myself better, I took a year break. I tried plenty of options and one among them was writing. So, I started writing articles and short stories for local magazines as well as posting on social media. Although, two of my Facebook pages are popular among youngsters, I realized that I want to keep writing as my hobby and not as my profession. I have always excelled in mathematics, right from my school days. My performance in examinations has always been exemplary which resulted in awards and recognition. During higher secondary school days, I started teaching Mathematics in villages nearby Bhopal, every Sunday. But, I soon realized although I loved my mathematics I had a flair for applied mathematics than theoretical one.  So, later in the gap year, I started preparing for some of the engineering entrance examination. I joined Sinhgad College of Engineering, affiliated to University of Pune during Mechanical Engineering.

In last year under-graduation project, I worked on “Spiral receiver for solar parabolic dish” in my final year of graduation. We chose to work on this topic because solar energy is clean source of energy and in countries like India it can be leveraged to replace traditional energy sources. Solar Parabolic Dish is fixed focus point concentrators and is used for the Water heating and cooking applications. We designed, developed and measured performance characteristics of direct steam generation by non-tracking solar paraboloidal dish concentrating system. The performance of the concentrator was experimentally investigated with the water circulated as heat transfer fluid. In the project, we achieved steam of temperature 172 degree Celsius. To overcome the difficulties faced during the experimentation phase, we visited Heat Transfer Laboratory of IIT Bombay. While working on this project, I enjoyed dealing with differential equations of Heat and Mass Transfer to design the equipment.  Moreover, I learnt several ways of data management techniques as we had to keep a log of temperature data with various operating parameters. Additionally, I could appreciate importance of team work, decision making, and communication in a project.

Although I liked Engineering, my love for Mathematics pushed me to pursue other possibilities. In my second year of engineering, I started exploring the field of finance. I joined a massive open online course (MOOC) in “Introduction to Finance” by University of Illinois at Urbana Champaign through Coursera.

In my third year of engineering, 2015, I applied for a three-week summer school in “London school of Economics” for the course in finance (course code FM-250), as it would give me global exposure and international experience. Reading books like “The intelligent investor” by Benjamin Gram and Economics of CFA curriculum beforehand certainly helped me to absorb the core concepts of finance. I learnt fundamentals of Portfolio Management, Quantitative Methods and Corporate Finance by the prominent Prof. Lau and Dr. Tamori. Both were a huge influence in further developing my interest in finance. Their interactive way of teaching and relating theoretical finance to everyday examples are still fresh in my mind. Other than academic learning, I had the chance to interact with students from a diverse range of backgrounds and cultures, both in and out of class. I was exposed to a variety of insights and opinions, and form friendships and networks that span the globe.

Later, in the final year of graduation, I researched about further qualifications and came across the CFA program. I started my preparations along with my engineering exam and finally appeared for CFA level-1 exam in December 2016.

I believe finance is as pervasive as air. It directly or indirectly affects every individual on this planet. I believe it is duty of financially awakened person to make sure that his or her decisions are prudent and taken with care, so that the farmer working in his field in some pastoral part doesn’t get affected. We have witnessed horrors of 2008 global fiscal crisis; how mistakes of few people devastated billion lives. These disasters can be avoided by ensuring highest moral standard, integrity and rigid code of ethics.

However, before I embark my journey, I need formal training in Finance. While searching for the relevant courses I came across the course Masters in Finance in your university. I am sure the course will help me gain a solid foundation in finance by applying the latest frameworks and techniques that would boost analytical and financial decision-making skills. I would also develop global capabilities to work anywhere in the world through case studies, a diverse student and faculty body, and access to global financial companies and institutions. Specifically, I will have access to world class finance faculty with extensive industry knowledge and experience.

As stated earlier, my engineering curriculum in mathematics has enabled me to gain a solid grasp over topics like differential and integral calculus, differential equations, algebra, complex numbers, statistics, numerical techniques etc. Moreover, I come from a society where people from different walks of life, culture, religion, ethnicity and language live together in peace and harmony. This helped me in broadening my understanding of diversities. Also, other experiences during my Bachelors have enabled me to be a good problem-solver, analytical thinker and logical person. I have not only strived to acquire the skills required for the course but also taken efforts to get hands on various courses in Finance. These efforts underline my keen interest in subject matter and hence make me one of the strong candidates for the admission.

After graduation, I want to work in an investment bank or hedge fund in the areas of derivative pricing, quantitative asset management and trading financial products. I intend to work in such a capacity for a few years, developing my professional network. I am sure exposure at these levels would help me understand the global repercussions of financial decisions. Hopefully, I can dent the financial world with conscience financial practice I have already talked about.

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