PhD in engineering to finance/investment

Hello everyone!

I’m writing to share my story and hopefully get some advice. Here’s some information about my background:

I am a 35-year-old male with a PhD in biomedical engineering, living in Boston area. I have two years of work experience as a postdoctoral research fellow at Harvard Medical School, followed by six months of experience as a postdoctoral research fellow at a major pharmaceutical company.

Recently, I have come to the realization that working in the lab and being a scientist is not as fulfilling as I had anticipated. Consequently, I made the decision to transition from academia to the industry, which led me to accept a postdoctoral fellowship position at a pharmacy company.

My true passion lies in the world of finance, particularly within the investment industry, encompassing roles such as Venture Capital (VC), Investment Banking (IB), or Private Equity (PE). I am fully aware that securing positions in these fields can be challenging, but I am eager to give it my best shot.

I have been accepted into two different online programs, as outlined below:

1. MBA with a concentration in Business Analytics and M&A from the University of Illinois- Urbana Champaign, tuition $24k, 2 years 
2. Master of Science in Financial Management with a concentration in Investment Analysis at Boston University- Metropolitan College, tuition $38k, 20 months 

My decision to opt for online programs is rooted in the hope of expediting my entry into the finance industry, given my existing PhD qualifications. I am determined not to remain unemployed for an additional two years, considering I would be 37 years old by then.

Now, I have some questions seeking your advice:

1. Considering my career aspirations, which program would be more suitable for me: the MBA or the MSF?
2. What are my chances of securing a position in the finance industry, specifically within IB, biotech VC, or PE?
3. Could you suggest a roadmap or outline the necessary steps to facilitate a successful career transition from a scientist role to finance and investment? How challenging might this transition be?
4. Should I pay attention to my age and how might my age affect my plan in transitioning to the finance industry?

I would be extremely grateful for any advice you can provide. Thank you for your support.