How I used my MBA to switch from finance to FinTech

Jonathan Gomez had already been working in the financial sector for five years by the time he decided to undertake an MBA at Cass Business School. Working as a financial analyst within the mortgage business of Bank of America in California, he decided that he wanted both a move back to the UK and the chance to expand his skill-set. After his MBA he started working as a consultant for Capco in 2012. He is now a director in capital markets at online property lending and investing platform, LendInvest.

You were already working in finance before you took an MBA, what led you to enrol?

I knew that an undergraduate degree was never going to be enough to meet my career ambitions, and was offered a chance to study an MBA with a scholarship in the final year of my degree, but I wanted to gain some work experience first.

It was obvious to me when I was working for Bank of America in California that all the senior people I was meeting during networking drinks who I rated had an MBA. Yes, you could say this is confirmation bias, but it worked!

I’d got to a point in my career where I felt that the learning curve had flattened, and it didn’t seem that there was any obvious route for progression. It seemed like the right time to pursue an MBA.

What led you to choose Cass for your MBA?

Once I decided on studying an MBA, I set my sights on London, so Cass’s proximity to the City was a real plus. It meant that I could arrange meetings with people working in finance and not have to travel across London for these meetings, which often tend to get cancelled at the last minute.

The other thing is that a lot Cass’s faculty have real industry experience. Some of the lecturers have worked for Citigroup or other big banks. I therefore think their approach is a lot more practical, so you learn how to apply the skills to the real world. Other universities in London take a more purely academic approach.

Why choose an MBA over more technical finance-related qualifications?

A lot of people assume that it’s easier to take a vocational course like the CFA because you don’t have to take time out of your career. But the amount of time studying, together with the likelihood that you’ll fail it first time around, means it can easily take four years before you pass all three levels.

Obviously, there’s a risk factor taking an MBA in the hope that it will benefit your career. However, for me, it makes you a lot more rounded and opens up a lot of opportunities. It’s not just about finance, so if you’re working in a financial services organisations you can talk to both senior management and other departments in a language they understand.

So, it adds credibility?

Exactly, it enables you to think strategically and communicate that with a sense of authority. It’s incredibly valuable to senior people not just to be presented with a challenge in and off itself, but in a way that present solutions to make it better. There’s an incredible amount of commonality among MBA alumni, and most senior managers possess one. It means the conversation goes a lot deeper.

Externally, taking an MBA also shows that you’ve invested in yourself, and that opens a lot of doors.

What advice would you give to other finance professionals contemplating an MBA?

Firstly, I’d say really take the opportunity to strike up friendships and really build your network when you study. You’ll be working with a really diverse group of people with experience across various sectors and these relationships will open doors for you throughout your career.

Secondly, don’t rush into taking an MBA. The minimum work experience you need is three years. However, I’d say five years is a good benchmark – when you work on group projects with people with two years versus the guys with 10 years’ experience, it’s clear that the latter has much more to offer. If you jump into it straight from university, you’re doing yourself an injustice.