O&G Investment Banking: Kellogg vs McCombs
Hello everyone,
I have been a reservoir engineer in a major oil and gas company for the past 5 years. For R1 2019 intake, I applied to various M7s + McCombs and was fortunate to be admitted to Kellogg ($$$) and McCombs ($$$). I am interested in pursuing O&G IB after my MBA, but this goal might change as I do more research. Currently, between these two schools, I am leaning toward choosing Kellogg because of the factors I mention below, but I am concerned that if I decide to go to O&G IB route recruiting from Kellogg would be more difficult.
I would appreciate if you could share your thoughts to help me with this decision.
Kellogg:
- Better reputation
- Location - While Austin is great, I loved Evanston and Chicago when I visited the school
- More collaborative culture - Amount of support I have gotten since being admitted has been phenomenal
- More career options If my post-MBA goal changes
McCombs:
- Better network in O&G IB
bump
Kellogg. With your reservoir background you'll be welcomed with open arms into O&G finance. There's even a decent shot to end up in A&D or on the buyside in E&P PE without the IB stint in my opinion.
Thanks. How helpful do you think McCombs alumni and network would be when transitioning out of IB? Also, do you know cases who have been placed in E&P PE without IB experience? I thought IB experience is a must.
Kellogg 100%. If you interview well, you will have your pick of banks coming from a good school with that background. And there will be less competition as fewer people from Kellogg want to do banking in Houston. We had 2-3 guys come in for office visits this year from Kellogg, and as far as I know they were all getting good traction with top banks down here.
At McCombs you will have a larger network, but it will be tougher to stand out. You will be one of a dozen petroleum engineers recruiting for banking in Houston.
Thanks! That makes sense, and it is similar to what I have been hearing about IB recruitment from Kellogg in general. How helpful do you think the McCombs network would be when transitioning out of IB though?
I'd choose kellogg as well. As long as you are willing to network, O&G ib is in the cards for you given your background regardless of whether you attend mccombs. granted you may lose out on OCR opportunities and proximity to the bank, i think kellogg provides more versatility in case your interests shift elsewhere. you can't also discount the city and culture - an mba is a life-changing experience that you should enjoy to the fullest, not simply to be used as a career pivot.
if you choose kellogg and are still interested in o&g IB as opposed to the other ib opportunities provided to you, make sure to stay up to date with hiring timelines. you are an easy sell; your interest stems from your background, you have the technical expertise and you are at an arguably more reputable school. you just have to put yourself in front of the o&g shops. who knows? maybe you will get sick of o&g and want to pivot to traditional ib instead.
Thanks. I know... I will have to network more and take a few trips to Houston which should be fine. Yes, exactly, Austin is a great city, and McCombs is a great school, but I absolutely loved the Chicago and culture at Kellogg.
Will do so. There should be other Kellogg students interested in O&G banking and we could work together which would the process easier. How easy do you think it would be to pivot from O&G to traditional banking after starting full time?
What does “traditional banking” mean? Like healthcare, industrials, etc. (a non-oil and gas group)? If so, just recruit for those groups in NYC/Chicago right away. Don’t feel like you are forced to do energy banking in Houston because of your background if that’s not what you want to do.
Where did you go to undergrad? If it's already a Texas/petroleum heavy school then Kellogg is a no-brainer. Houston is definitely cliquey with alumni/college sports... there is some value in being able to go watch Longhorns games with the crew.
Still, I like the Kellogg advice.
I have my petroleum degree from a tier 2 US school, so McCombs would be a nice step up. Yeah, that is what I would be missing if I go to Kellogg, and I know such a network could be helpful down the road. My heart tells me to choose Kellogg though.
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