Oil/Gas Corporate Experience to Investment Banking

Hi everyone,

I currently work for a large integrated oil & gas company supporting various supply chain/finance functions. I’ve been here for about 2 years since I completed my undergraduate degree in the summer of 2015.

I’ve been inspired to move into IB because I have been part of / learned about various acquisitions & divestments that my company has completed in the past 1-2 years, and I am very much interested in the M&A banking that underpinned these deals. I’ve been doing lots of side reading on DCFs, trading comps, etc.

Although my background is more supply chain-heavy, does anyone have any tips on how to get into investment banking based on my background? My degree is not in finance, so I understand that an MBA, CFA, etc. might be required in the near future.

 

I rather not say where I work but my company is in the process of some serious repositioning (this should give it away though), this is also one of the reasons I want to leave. In my current role I don't work with any investment banks. I'm basically in a rotational program that is subject to change due to the repositioning.

My networking has been effective somewhat, I haven't had any offers but I haven't really been dedicated to landing an IB role as of yet. Last week I just randomly sent an email to an MD at a bank and got a response back very shortly. I was rejected at an elite MM firm in Houston and I've been able to get some VP's and MD's to talk to me about IB. The only thing I'm concerned with is I might be leaving this company too soon, I've only been here about 7 months (right out of undergrad). But at the same time, I've always wanted to do banking so now if I do get an offer from this boutique I don't want to be selling myself short (I'm not hot shit, but I'm thinking working for a supermajor might be worth more)....

I'm planning on sending out my resume to every damn bank (related to energy) this upcoming week....maybe ill get lucky...

 

I'm not sure about other countries, but in the U.S. you would most likely be looking at starting as an analyst (nobody would expect you to intern first). I'd try lateralling to a bank as an analyst. If that doesn't work, I'd apply to MBA programs next year and then interview for associate positions, assuming you were interested in a long term career in banking.

 

MM in which cases would one intern though... if they are fresh out of school? I always thought that interning is entry level even if you have a few years of experience... correct me if I'm wrong... thanks!

 

I've seen similar situations. Almost universal feedback is "do an MBA". Rationale: - With no IBD experience you will be looked at for an analyst role - Take the two years and reposition yourself as an Associate - typically gives you longer runway in IBD also

Word of Caution: MBA's aren't cheap and come with risk - two unpaid years out of the work force and no guarantee of a job (or better job) when you're done

Using a headhunter is hard for someone in your position. They would look at you as an analyst 1 candidate. Plus they get paid a % commission based on your base salary and any guarantee. From their perspective you are probably too much effort for too small a comission. Also, analyst positions people are looking to fill are usually for experienced (1 to 2 years experience like you said) to replace analysts who have quit or moved for whatever reason. People will usually be looking for someone who can get going right away, not entry-level with no-experience.

If you are REALLY set on IB without MBA, I'd suggest looking at smaller shops who generally have more ad-hoc / as-needed hiring patterns but because of small headcount might not be receptive to paying for someone who doesn't carry their weight. Might want to do an unpaid internship but that has obvious risks as well.

 

Sounds like you have a good resume / background. I'd try to get out of your current position ASAP and get into a consulting shop? Or just go to business school on the early side. Put in the extra hours at work so you get noticed and then sit down with your boss and tell them you want more challenges and see what happens...then write an essay about it and go to business school

 

Good afternoon, thanks for your feedback. I view MC as a way to shift my career focus to finance and acquire diversified experience / broaden my horizons (is this an unrealistic view?), and then maybe stay at the firm long enough to have them pay for an MBA that I could then potentially use to transition to IB, PE, or a related field.

 

You can easily switch to consulting with your background.

You'll most likely need an MBA to transfer to IB or anything finance-related. If this is the path you want to take, work for 2-3 more years, then leave for a top-tier MBA. You could also start the CFA program in the time you'll have between now and when you eventually matriculate to: 1) build up your 'story' for your application to make you a more attractive candidate to schools and 2) maybe subvert the MBA entirely if you're lucky enough to find a job in finance that you want (not likely, unless you're very good at networking).

 

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