Career change at 34: From Banker to Machine Learning Expert?

Ans: Dear Pinku

Please focus on your current company and job and ask yourself what more value you can create and deliver.

Don't fix something which is not broken.????

All the best.

Ans: Hello

Given your rich domain experience you can assess various areas that machine learning can be used...detecting frauds to enhancing process efficiencies....

Suggest you also exchange notes with your colleagues from IT domain, do online search and best talk to ChatGPT ... basically do brainstorming.

All the best.

Ans: Thank you for getting in touch with me on Rediff Gurus. Given your background in statistics and experience in banking, there are several sectors you could consider transitioning into that leverage your analytical skills and managerial experience. You could explore roles such as data analyst, business analyst, or data scientist, where you would use statistical techniques and analytical tools to derive insights from data and inform business strategies. Your managerial experience could be beneficial in roles such as operations manager or operations analyst, where you would oversee and optimize operational processes for efficiency and effectiveness. You could also explore opportunities in fintech startups or established fintech companies, where you could contribute your expertise to develop and implement cutting-edge financial solutions as well. Additionally, within the finance sector, there are departments that are increasingly adopting new technologies and skills, providing opportunities for growth and transition.

In terms of finance departments that are more inclined to new technologies and skills, areas such as financial technology (fintech), quantitative finance, and financial analytics are increasingly adopting advanced technologies such as artificial intelligence, machine learning, blockchain, and big data analytics. By developing skills in these areas, such as programming languages (e.g., Python, R), data analysis tools (e.g., SQL, Tableau), and understanding of financial markets and products, you could position yourself for roles that are at the intersection of finance and technology.

Ultimately, the key is to identify your interests, strengths, and career goals, and then explore opportunities that align with them. Consider networking with professionals in your desired field, gaining relevant certifications or qualifications, and seeking out mentorship or guidance to support your transition. With your background and experience, you have valuable skills that can be applied in a variety of sectors and roles beyond finance.

Ans: I have known students working in PSU banks doing Executive MBA after working for 5+ years. They eventually get placed in MNC Banks. So write the GMAT and try applying to colleges like IIM A B C ISB XLRI for executive MBA course. Do some research before you start your journey.