I’m an incoming FT analyst starting at an EB in Houston next year and I want to get a better sense of where most O&G analysts exit after their time in IB. More specifically, I want to know where bankers who don’t see themselves in O&G long-term typically transition to. Are there any common exit ops that involve the renewable energy industry? I’m from Texas and would rather move within the state rather than to the East/West coasts. Thanks in advance!
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I'll chime in.
At "name brand" shops you will get looks outside of energy-related PE. However, the vast majority even at these places will go into energy/infrastructure funds or corp dev/finance roles at O&G companies.
As you can imagine, the number of such exit opps has been hit hard along with deal flow and issues with the industry outlook.
If you want to remain in banking, the most logical lateral out would be to an industrial group somewhere.
how difficult would it be to get into an M&A group in NY from a JEF/EVR/TPH type of a shop? Also if you could comment on the level of the lateral (that is, can I go from one of these to a similarly ranked top group in NY)?
The current industry outlook is exactly why I’m trying to get sense of exit ops outside of O&G. I’ll look more into infrastructure PE, are there any funds in Texas that you're aware of?
While I haven't personally witnessed somebody lateral in the scenario you described, my guess is that you would be looked upon reasonably enough. That is, they will take your firm/group seriously and understand why you want to leave.
From there, it's largely up to you. Obviously the more deal exposure you get in your time the more it will benefit you, though that could be a catch 22 given the reason you are looking to leave.
The short version is simply--you're in a fine spot, and options are out there. However, you will have to explicitly go out of your way to break out of the O&G world where the vast majority of exit opps will be.
I'm a prospect, so take this with a grain of salt, but the majority of roles will still be related to O&G. This is especially true if you want to stay in Texas.
Very insightful, thanks for coming in today.
Very insightful, thanks for coming in today.
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