I’ll try and fill in a bit of background info for you:
I'm currently working in computer forensics / e-discovery for a large finance company in London, it's a very challenging career, gives you a massive range of work experience and variety to your life but won’t be anything that you think it is.
Basically, the job that I strive to have is something of a computer forensic investigator. Preferably in the police. The department that cracks down on online fraud and related online crimes.
I have been following the acts of online hackers for a long time. Groups such as anonymous and solo people such as th3j35t3r. What I would want to do is work for an organization (I believe the met police do this?) that works on cracking down on criminals who do such acts (Anonymous).
There's two clear branches of work in the industry :
Working for the private sector you'll work on anything from fraud, legal disputes and in house investigations. These cases vary from straight forward fraud to legal violations and bankruptcy. This isn't where you want to be for a 9-5 job. You work with lawyers throughout pretty much everything you do, and they are relentless.
The work effectively consists of three aspects:
1. Data Identification and Collection, which involves travelling to client sites and forensically imaging computers. This requires good communication skills for dealing with clients, a passion for travelling and a comprehensive knowledge on different hardware components and operating systems. If you’re interested in travelling, I'm not sure there's a better way to travel whilst working in IT (I'm actually on a three month trip to various parts of the US at the moment).
2. Data Processing and Extraction, this involves using forensic tools such as EnCase and LAW to extract and retrieve data from an image that has been collected via the Collection team. In more complex forensic cases this includes an in-depth search and investigation into the computer.
3. Review Support and Data Analysis, which involves dealing with client requests and analysing data to extract specific data requested by clients (often law firms or large companies).
The public sector (focussing on the police) tends to work entirely on criminal cases. What you have to consider though is that for every case that you’re investigating some "hardcore hacker" who has craftily hidden any footprints that may lead you to getting a conviction, there will be 10+ cases where you’re investigating a potential paedophile. When the case goes to court, all the judge wants to know is the "rating" of the images or videos present on the custodians HDD. This means that you as an investigator have to watch and assess every single piece of illicit material on a suspect’s computer. On top of this you’re also paid ~2/3 of the salary of a private sector worker. To me this is the epitome of taking one for the team and I’m sure there’s nothing more rewarding than having your work leading to the imprisonment of a dangerous paedophile, I just couldn’t do it myself.
There is of course exceptions to this (e.g. working at the SFO, MI6 or GCHQ) but these locations are often far less glamorous than you may imagine.
I know people say it's a difficult area to get into, but once your foot is in the door you become gold dust. Our IP students get head-hunters ringing them within their first week on the job.
As for education I think that this is actually one of those areas in which you can go to a relatively low ranked university and still do very well for yourself. When applying to uni I was disappointed with the quality of universities offering CF courses so ultimately took computer science. Most of my colleagues that took CF were ultimately bitterly disappointed with the standard of the education that was provided to them. This is not to say that this is true of all courses but you have to truly invest the time into making sure that you have the right uni. I've been shocked at the standard of some of the student's that have approached us for jobs in the past, if you can get out the other side of a computer forensic degree and not know what an MD5 is, then something is seriously wrong.
Personally I think Computer Forensics (or E-discovery) is a fantastic area to be in, and it’s growing rapidly. It’s certainly not a job where I spend every day sat behind a desk; you never know what you might work on the following week. Work varies from a covert raid, to a presentation in front of executive board members , to programming a new tool to get the job done faster.
From what you’ve posted, you need to seriously research further into this field. This is a very niche market and if you don't do it right you'll really find it difficult to break into. You'll really struggle without at least some form of degree though.