The 15-Year Pivot: How to Transition from Pharma to Finance as a Research Analyst

Sat Feb 7, 2026

Making a career switch is often described as "starting over," but for many, it feels more like a "very big burden". When you have spent 15 years building expertise in one field, the thought of moving into a completely different industry can be paralysing. However, the story of Sandip Hujare, shared in a deep-dive conversation with Prof. Sheetal Kunder, proves that your past background doesn't dictate your future potential—it merely provides the discipline needed to master a new craft.

Sandip's journey from a seasoned professional in the Pharmaceutical field to a successful Mutual Fund Distributor and aspiring SEBI-registered Research Analyst is a blueprint for anyone who feels stuck in their current professional life. 

1. The Breaking Point: Recognising the Need for Change. 
Sandip Hujare spent a decade and a half in the Pharma industry. While he had a stable career, he reached a point at which he felt that "a lot of change" was necessary.

  • The 15-Year Milestone: After 15 years, Sandip decided that his future didn't lie in medicine, but in markets.
  • A Full-Time Commitment: He didn't just want to "try" finance as a hobby; he wanted a full-time career where he could establish himself as a professional.
  • The Relocation Factor: His journey took him from Kolhapur, Maharashtra, to Indore, where he established his Stock Market Academy and worked as an authorised person/sub-broker.


2. Facing the "Finance Burden" Head-On

Transitioning from a science-heavy field such as pharmaceuticals to a math- and logic-heavy field such as finance presents significant psychological and technical barriers.

  • The Educational Gap: Sandip's education was in PharmaPhil, which meant he lacked the traditional finance degree that many expect for a Research Analyst role.
  • The Skillset Shift: He had to move from understanding chemical compounds to understanding Balance Sheets, Technical Analysis, and Economic Indicators.
  • Establishing Credibility: In the first three years of his transition, Sandip focused on becoming a Mutual Fund Distributor (MFD) and learning technical analysis to build a foundation of trust with his clients.

3. The Bridge to Professionalism: NISM Series XV

For Sandip, the ultimate goal wasn't merely to be an "influencer" or a casual trader; it was to become a SEBI-registered research analyst. He realised that, to achieve this, he had to pass the NISM Series XV exam in its most difficult iteration to date.


  • Setting a Clear Goal: Sandip made it his "goal" to gain the Research Analyst license to take his journey further.
  • Embracing the New Pattern: Despite the exam pattern changing in November 2025 (with additional chapters and more challenging case studies), he chose to tackle the updated workbook rather than seek shortcuts.
  • The "Pharma-Mindset" Advantage: The same discipline required to manage 15 years in Pharma helped him focus on the numerical and case-study sections of the exam, which now account for a combined 70% of the paper.

4. Overcoming the "Technical" Hurdle. 
One of the biggest shifts for Sandip was mastering Technical Analysis. As someone with no background in charts, he had to learn to apply practical trading knowledge in an exam environment.
  • More Than Just Candlesticks: He moved beyond simply identifying a "hammer" or "candlestick pattern" to understanding how these patterns apply to trending prices (e.g., observing a price move from $800 to $1000).
  • Numerical Confidence: Despite coming from a Pharma background, he didn't skip the math. He realised that having even "a little bit of knowledge" in mathematics was essential to passing.
  • Practical Application: He learned to bridge the gap between "paper theory" (like Greeks and parameters) and what actually happens when derivatives are traded in the market.

5. Guidance for the New Generation of Switchers. 
Sandip’s advice to those following in his footsteps is clear: you need structure.
  • Don't Go It Alone: Sandip connected with Prof. Sheetal Kunder specifically to tackle the Case Study and Numerical portions of the exam, realising he needed a guiding force to overcome his non-finance background.
  • Follow the Mock Tests: He focused heavily on structured mock tests, which helped him manage the psychological pressure of the 100-question paper.
  • Continuous Learning: Even after three years in the sector, he remains a student, constantly updating his knowledge with the latest SEBI circulars and workbook changes.

The Verdict: It’s Never Too Late. 
Sandip Hujare is living proof that you can successfully pivot into finance after 15 years in an unrelated field. By setting a clear goal (SEBI registration), mastering technical and numerical skills, and seeking structured mentorship, he transformed a "burden" into a professional breakthrough. As Prof. Kunder notes, this journey is an inspiration for everyone who feels they have left it too late to pursue their passion.

Shreyas Karade

SEBI® Research Analyst. Registration No. INH000013800 M.Com, M.Phil, B.Ed, PGDFM, Teaching Diploma (in Accounting & Finance) from Cambridge International Examination, UK. Various NISM Certification Holders. Ex-BSE Institute Faculty. 18 years of extensive experience in Accounting & Finance. Faculty Development Programs and Management Development Programs at the PAN India level to create awareness about the emerging trends in the Indian Capital Market, and counsel hundreds of students in career choices in the finance area