Advice needed on Oil and Gas Banking
Fellow bankers,
I have a question about Houston I-banking. I was a Summer Associate at a top 5 BB in NY in the tech sector, and have an offer to go back.
Due to personal reasons (the wife not being able to move to NY cos of her career), I recruited in Houston (where she is), and got an offer at a competing BB in the Energy group.
I have a technology background, and have never worked anywhere remotely close to the Oil and Gas industry.
My question is:
1. how tough is it for someone with no Oil and Gas experience to learn the industry, considering it's not as exciting and fast-growing as tech?
2. I am not very well-versed with what drives dealflow in Energy - commodity prices? What really is the driver, considering there are no new ideas in Oil and Gas and it's a stable industry?
My other option really is to make my wife quit her job and shift to New York but I am just not comfortable doing that in this economy.
Please share your thoughts.
Thanks in advance
WB.





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Definitely wouldn't go in
Definitely wouldn't go in there saying there are "no new ideas" in the space...that's ludicrous.
No question there is a steep learning curve, but I had no industry experience and did fine.
I only worked in O&G banking
I only worked in O&G banking this past summer (3 months) and picked up quite a bit. It's just like a language where you learn best by surrounding yourself in it. MDs I was working with were learning new things everyday. It is definitely manageable as long as you are interested in it. I think you will enjoy Houston much more. The work-life balance will be more manageable than NYC (even if only by a few hours a week), the taxes and cost of living are lower anddd you can own a car.