# Modelling jobs?



## poiu (Dec 6, 2013)

Hi All,

I was browsing some of the past question for the modelloff championships (Free Sample Excel Financial Modeling Questions and Examples | ModelOff - 2013 Financial Modeling World Championships) and it all looks quite good fun.

Does anyone know if it's possible to get a job that makes these kinds of models full time? Like some kind of modelling consultant? Would I need to be in a financial centre like London or New York?

Thanks,

Poiu


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## farmerscott (Dec 7, 2013)

Poiu,

No expert on the financial sector but stockbroking companies, hedge funds and banks would be seem to be the logical choice.

Like a lot of jobs that you think would suit anyone with an internet connection, many may want you in their offices.

If you are going to work for the financial sector, I suggest you have some experience or qualifications in the area. Being an Excel expert would not be enough. You have to know what the figures 'mean' (ie the difference between current and non current liabilities, the difference between profit and free cash flow).

hope that helps.


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## poiu (Dec 8, 2013)

Thanks very much. I am a qualified accountant but in an (blue chip) engineering firm. Do you think a London city finance company would be interested in me? I was pondering doing some contract work to get my foot in the door...


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## farmerscott (Dec 9, 2013)

Having an accounting degree and experience within a commerical environment, would be a big plus. 

London would be a start, being a major financial hub within Europe.

Contracting would be a good start but remember you might have to compete with cheaper options from around the world.


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## Jon von der Heyden (Dec 10, 2013)

Last time I looked into work in London (a few months back), the jobs were demanding considerable skills and qualification for comparatively little money.  London is expensive to live in or commute to so I think there are better options outside of London.  Course I could be very wrong, but when I was looking for Excel/Finance related contracts in London that was the impression I got.  Seems that to land any decent job I either need to have significant SQL/C programming skills, or be a blooming mathematician...  I was admittedly looking at the banking industry.


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## PaddyD (Dec 10, 2013)

Amongst other things, I employ modellers in banking / financial services industry. Some random thoughts:

1) No-one will give you a modelling job because you know excel quite well.  
2) When considering your career, distinguish between modelling and analysis.  Successful analysts do things like automate things for fun. Successful modellers read new developments in probability theory for fun. 
3) Without direct domain experience, you need **** good, proven, well above average modelling skills to get a foot in the door in a modelling role that's not paying peanuts
4) Modellers in banking do a lot less modelling than you think (imagine all the regulatory stuff they have to deal with, before you even start on the documentation, meetings etc etc etc)
5) Modellers in firms that contract to other firms that would like to have more modellers than they can afford full time tend to do more actual modelling
6) There are other routes in.  In banking, models need to be validated so there are model validation teams. You can, sometimes, get into validation teams more easily with less domain expertise, then move into 'proper' modelling once you've proved yourself.
7) Think creatively about how you demonstrate your modelling skills.  If someone came to me, said they hadn't really had the chance to demonstrate the range of their excel skills in their current job, but had 8000 posts on MrExcel and had recently been recognised as an MVP, I'd pay quite a lot of attention.  Ditto modelling.  There are 'model-off's out there, as you have identified. You could, without too much total effort, find other 'non-traditional' ways to prove your interest and skills.
8) There are a very large number of people who call themselves 'modellers' who work in marketing firms.  (Think propensity to respond to marketing offers etc).  Some are very good.  But, as a general rule, the less regulated the firm using the model, the easier it's going to be to get into the modelling department.

…which may or may not help.


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## poiu (Jan 1, 2014)

Thanks everyone, that's great advice.

I think I was way to vague in my search - at the end of the day I'm not a professional computer programmer so all the C++/C# jobs are way over my head, and I'm nowhere near a maths degree graduate.

 But given my accountancy qualification and some management accounts experience, I'm narrowing down my search to:

1. Creating models of profit & loss statement, balance sheet and cash flow statements for forecasting / investment appraisal
2. Scenario analysis / What-if analysis / Montecarlo analysis for the above.
3. Maybe some 'bid modelling' if that's similar to 1.

That seems to pay £40k-£50k in London and £40k outside of London so hard to justify the expense of living in London. Although these jobs are sparse so it seems hard to string together jobs in one place outside of London? I'm not sure it's practical at all....


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## sous2817 (Jan 2, 2014)

You know, I bet a lot of people started off thinking that Excel was way over their head, then VBA was too much, then C# / C++, etc was too much.  I know that's how I started...you just have to roll up your sleeves and give it a go.  Before too long, you'll have a good handle on C#/C++ and ready to tackle some other language.   Don't sell yourself short on what you can accomplish with a little effort and time investment.  Have you had a look here:  Microsoft Virtual Academy <Microsoft Virtual Academy

There are a ton of free resources in just about every one of Microsoft technologies (Excel included) in that link.


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## Fazza (Jan 2, 2014)

PaddyD said:


> Amongst other things, I employ modellers in banking / financial services industry. Some random thoughts:
> ...
> 7) Think creatively about how you demonstrate your modelling skills.  If someone came to me, said they hadn't really had the chance to demonstrate the range of their excel skills in their current job, but had 8000 posts on MrExcel and had recently been recognised as an MVP, I'd pay quite a lot of attention.



A few more posts & I'll be there, Paddy. 

Happy new year & thanks for sharing your random thoughts.

regards, Fazza

PS
And there I was thinking I'd need to lose a few kg & be taller & slimmer to do a modelling job


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## PaddyD (Jan 4, 2014)

I've been impressed for a good few thousand posts already, Fazza 

Seasons greetings & all that….P


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## Fazza (Jan 5, 2014)

Likewise, mate


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