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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Mechanical Engineering as a career

Mechanical Engineering is one of the most oldest and celebrated branch of Engineering. Contribution to Mechanical Engineering can be traced to Ancient Greece when Archiemedese formed basis for Western Mechanics.

Today Mechanical Engineering is one of the most vibrant and omnipresent branch of Engineering. Practically every company that designs and produces a product employs a mechanical engineer. But mechanical engineers can also be found in research labs, the military, government, and in other professions such as medicine, law or teaching. Most mechanical engineering jobs require design experience. When a need comes about for a new or improved product, companies call upon mechanical engineers to do the job. Engineers have to push beyond the limits of their previous work and use innovative technology to meet project requirements successfully.

Having stated all legends about Mechanical Engineering, next big question is

How do I know I am interested in Mechanical Engineering?

This is a question we ask our students to ponder upon first. For choosing any field, you must be interested in that field. You should not enter into a field, because of peer pressure or parent’s insistence. So, how would you know if you are interested in Mechanical Engineering?

Our advice would be to go visit a workshop or Design Studio or a Production unit. Look at the typical day of Mechanical Engineer. Talk to people. Ask them why do they like their jobs? This exercise will give you insights into what you may have to do for about 35 years of your life. Are you ready?

In addition to visit to your future workplace, taking psychometric test and Career Counselling are best ways to judge your career options. They will help you understand your skills, preferences and personality types. Methods like Mayer’s Bragg Testing are statistically proven and can be easily read. For counselling you may think of the person with industry experience.

What is the scope?

Mechanical Engineers have a wide scope. They find jobs in virtually all industries.

  • Automotive engineer:Mechanical engineers design many car parts for the automotive industry. As an automotive engineer, you could solve transportation and safety problems by creating better and more efficient engines or by developing improved safety features
  • Biomedical engineer:Mechanical engineers work with a variety of medical professionals to design mobility aids, prosthetics, and artificial organs.
  • Consulting:Once mechanical engineers have gained significant on-the-job experience and developed a high level of expertise, they might choose to work for themselves as consultants or independent contractors. Here they can work on projects of their choosing for clients they respect. The consulting field offers opportunities in large and small engineering service firms and in private practice.
  • Heating, ventilation, and air conditioning (HVAC) engineer: In this field, engineers design refrigeration systems for making frozen foods, or air-conditioning and heating systems for businesses and industrial buildings, residential homes, autos, hospitals, and schools.
  • Nuclear engineer: The design of nuclear power plants requires the services of a mechanical engineer. The engineer must understand the fundamentals of nuclear design, know how to operate the plant efficiently, and evaluate the environmental factors associated with nuclear plants.
  • Robotics engineer:A mechanical engineer may design machines that build other machines. For instance, a robotics engineer may be involved with creating the devices that are used in assembling automobiles. Engineers are concerned with the robot’s structure, its joint mechanisms, bearings, and heat transfer characteristics.
  • Teaching:A desire to help mould the next generation of engineers motivates some mechanical engineers to move into academic careers. Engineers in colleges oversee research activities, manage laboratories, and mentor students. They also write and publish books and technical papers about mechanical engineering.

How much salary would I get?

Average salary for Indian Mechanical Engineer is about Rs. 3,56,698/- per annum (payscale.com). Salary depends on many factors. Foremost of all is the college you pass out from. Other factors may include your passing marks, career objective etc.

Entrance Exams

From last three years, most of the institutes in India have subscribed to Joint Entrance Examination (JEE). Apart from IITs and NITs, engineering colleges in the States of Gujarat, Maharashtra, Nagaland, Madhya Pradesh, Haryana, Punjab, Uttarakhand and Odisha have joined JEE (Main) system.

Last date for Application for JEE 2015: 26th December, 2014

Exam Date for Engineering (Paper 1, offline): 4th April 2015

Exam Date for Engineering (Paper 1, online): 10th and 11th April 2015

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