I’m a 2nd year analyst for one of the largest privately owned banks. I currently underwrite all sorts of deals but began underwriting energy loans a few months ago and am really interested in the industry. I want to make the jump to Energy IB for the pay bump and general interest overall. What steps can I take to make the jump? Corp finance at a O&G company? MBA? Direct to boutique firm? Am I screwed already? Any advice would be great. Thanks.
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well, I don't think it's the biggest jump for you given you are already in some form of banking and have some energy exp. (underwriting energy loans). What you also have going for you is the bonus season just started, and that usually means the turnover usually creeps upwards since those that were waiting for their bonus before they could bounce, bounce. Additionally, many of the energy IB groups have been expanding headcount, given the macro-environment and the increased deal flow. So, I expect spots to open up where you could potentially step in.
I would suggest you start networking with energy folks, especially at shops where you see there is a position available. Get on the phone, talk about why you are interested, ask them about their background, etc. the usual networking stuff. I expect since you already have sig. experience as a 2nd-year analyst that you'll get grilled on some of the technical stuff too.
A couple of notes: your exp. might be more meaningful at a balance-sheet bank (such as a BB, or a bank like Mizuho etc.) given the financing angle. However, also important to note the deal flow in energy IB is pretty highly concentrated at the top so I see job postings from banks like Mizuho, SMBC, HSBC etc. but doubt they do any meaningful energy M&A if at all so just be careful.
Agreed with everything here. Not to split hairs, but given Mizuho’s poaching of a decent number seniors from buldges like JPM they could be a group on the come up in Houston. I guess only time will tell though
Rice/UT MBA is the long game but a sure fire way to get an energy IB seat
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