Navigating a Career Shift from Engineering to Banking
When navigating the interview process for a banking role, you may come across questions that challenge your background and experiences. One common question is, "Why do you want to pursue a job in banking despite having a degree in engineering?" This question can be a tricky one, but with the right approach, you can demonstrate your enthusiasm, skills, and the reasons why your technical background makes you a valuable asset to the banking sector.
Key Points to Highlight in Your Response
Express Your Passion and Interests
In your response, it is crucial to communicate your passion for both finance and technology. Many candidates might view a shift from engineering to banking as a dramatic change, but by highlighting your shared interests, you can make a compelling case for the relevance of your background. Mention that you have developed a keen interest in finance and economics, and are eager to apply your technical expertise to roles that involve financial strategies and customer solutions. Emphasize that you believe the banking sector is at the forefront of innovation, particularly with the rise of fintech, and you are excited about the prospect of being a part of an industry that is constantly evolving.
Additionally, you should demonstrate your knowledge of the banking sector's role in assessing the needs of small-scale industries. For instance, banks often rely on engineers to evaluate the borrower's need for engineering tools and equipment before making a loan. Highlight that if the bank has an engineer on board, they can help assess whether the machines the industry intends to buy are needed and if the price is right. This shows that you understand the practical applications of your background in a banking context.
Mention the Unique Benefits of Your Background
Emphasize that your engineering degree provides you with a unique set of skills that can be highly beneficial in banking. Discuss how your technical expertise can be leveraged to drive success in the banking sector. For example, you can explain how your background in engineering can help you understand the technical aspects of banking innovations such as digitalization, online banking, and robotics. You can also mention how your engineering skills can help you work on complex data bases and develop in-house software applications, which are essential for banks in the modern age.
Use an Open-Ended Question as an Opportunity
Open-ended questions provide a great opportunity to impress the interviewer. For instance, if asked about why you want to pursue a career in banking, you can use the following response:
“Thank you for asking. If you really look at how the businesses are run across the globe, you will see one common factor: banking. Regardless of which business you are in, you will use banking services. What better place to kickstart my career than banking? [Pause] Being an engineer, I see how technology is disrupting the banking landscape with digitalization, online banking, no-man branches, and the use of robotics to build highly customizable products to serve each of their customers. The scope of this industry is virtually unlimited. In developing countries, banking services are still underserved, offering immense opportunities for a technologist like myself to learn cutting-edge technologies such as big data to develop customer analytical tools and manage very complex databases. It's a chance to serve the general public while being part of the banking revolution that is happening right now. Is there a reason why you think otherwise?”
The Role of Technology in Banking
Highlight how technology is transforming the banking sector, providing banks with more efficient and customer-focused solutions. Talk about how engineers can play a crucial role in driving innovation and improving the overall customer experience. Discuss specific examples, such as the implementation of big data and analytics to predict customer behavior and improve service, or the development of new payment technologies and fintech applications.
By providing such a well-rounded and thoughtful response, you not only demonstrate your fit for the role but also show your adaptability and enthusiasm for the future of banking. This approach can make a significant impression on the interviewer, potentially making the difference between a strong candidate and an ideal one.
Conclusion
Remember, the key to a successful response lies in showcasing your enthusiasm for the role, explaining how your skills can be valuable to the bank, and addressing any potential concerns the interviewer might have about your background. By doing this, you can make a compelling case for why you are the perfect fit for a career in banking, even with a degree in engineering.