Oil and Gas Groups - Need Help
I've been working in M&A for about a year and I'm looking to lateral into Houston. I've networked with a handful of banks JPM, Jefferies, Houlihan and Lazard. Each I've gotten some decent feedback from and have been continuing talking with their team. I'm wondering if anyone has insight into these groups beyond just what some of these calls have been. Are the higher level MDs and VPs disconnected from their analyst, terrible exit opportunities, etc. Any insight would be really appreciated!
I'm focused on performing well with all of these banks but if you guys had to choose 1 or 2, which would be the best opportunity for long term banking and possibly for an exit opportunity into PE, corp dev, HF, etc.
Don’t do it man that place is horrible.
What makes you say that?
Spent some time in Houston. The banking culture there is hell and it’s just an overall shit place to live.
Are you from TX / plan to stay there? The exits outside of energy/TX are tough and have gotten more difficult as infra firms do less and less work in traditional O&G.
Won't tell you not to move there, but I agree with the other comment that hours/culture across Houston are on average worse than NY groups.
Personally unless I had family reasons to be in Texas, I would look to get into an infra group instead.
Agreed. I’ve known and seen multiple people who’ve moved there thinking it’s a great long term opportunity but end up getting crushed under the culture or it’s not a fit for them. Then you have to take another job if you can’t get out of the city, which is hard because you’re pigeonholed into energy. That’s how people get stuck there.
My uncle works in Oil & Gas in houston and he hates his job so I hope this helps.
At a Houston PE shop and we are a generalist but avoid oil & gas in literally THE place to do o&g, speaks for itself
Sounds like they did O&G at one point but then just never moved the office?
Surprisingly no, but the partner level ppl at the firm are all from Houston so that's why
The hate train for Houston is real. I mean it’s sweaty but for the most part if you can get in a good group and don’t mind working it’s not too bad. You do work a lot but you can get some of that time back by living close to the office. Things you can’t necessarily do in nyc. I think that levels the hours comparison.
Lazard is utterly irrelevant and only survives off its legacy EB name.
JPM is very strong. The best BB. Also has the tallest building in Houston. Probably has the best top to bottom exits.
JEF needs no intro. It is the analayst graveyard (mid bucket is logging 90+ weekly) but it’s the highest deal flowing. Big AN/AS classes. Solid exits.
Echoing other monkeys, O&G is a tough sell/questionable decision without TX ties or clear longer-term energy career goals.
Reprehenderit sapiente iste eligendi voluptas. Tempora ullam tempore ut cupiditate.
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