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.
From the sounds of it, your'e going to need an MBA. Supply chain is very unrelated. Strategy / BD / IR from industry is hard transition to make w/o an MBA - supply chain is nearly impossible w/o any other prior experience.
From Shell Oil Company to Investment Banks Oil & Gas possible? (Originally Posted: 11/19/2016)
Hi
Is it possible to go from a Oil Company to Investment Banking Oil & Gas?
At the moment i am working for Shell in a finance position.
Hi George - I currently work for one of Shell's major competitors in a similar finance/supply chain role. I am also looking to transition into energy-focused investment banking. Were you successful in moving? Are you still researching?
Shell S&T?
Go to business school
Corp Fin (major oil) to Energy IB ...need advice (Originally Posted: 08/06/2011)
I just had a phone interview with an MD at a boutique bank (10 people) which has a pretty interesting niche market in the energy industry. The interview went well and was very informal, he didn't ask too many technical questions, but I responded to questions in a way where it looked liked I knew my shit. The second interview was scheduled (on-site).
I've always wanted to get into banking but now I'm wondering if it would be worth it to leave my current job to take this boutique job. I'm currently working as a Corp Fin at a major oil company (fortune 5). My current job is very laid back, I have my own office and its a very low-pressure type of environment......I hate it. I work as a credit/risk analyst.
This boutique bank seems very interesting, half the bankers have a petroleum engineering background and the other half have a finance background. This firm is affiliated with two other PE firms who work in the E&P industry. I'm thinking maybe I can lateral to those down the line.
Should I jump ship immediately (if I were to receive an offer) or should I hold out and see if I can get something better. What do you guys think my chances are getting into a bigger MM firm considering I'm working at such a large company?
I have by no means completely secured this position, but if I were to get an offer I would feel a little nervous leaving such a large company with such great job security. At the same time I've wanted to do banking since freshmen year of college...
Just looking for some advice from my fellow monkeys...
Come on man none of us can tell you if you should leave your job or not. If you're comfortable doing it, this is the kind of shit you should be talking about with senior people you trust.
Just looking for some opinions.
XOM/Chevron/Conoco? Shouldn't you be working with investment banks all the time? How effective has your networking been?
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...
Any energy bankers here who can help me figure out the value of people working for a supermajor (in a Corp Fin function)?
I'll appreciate any help. Thanks.
Career Switch From Largest Oil/Gas Multinational to IB/PE (Originally Posted: 06/11/2014)
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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!
Career Change Help - From Energy major to Investment Bank (Originally Posted: 04/22/2015)
Hello all,
Please help me out... I would much appreciate a word of wisdom and an advise.
Little bit of background, I live in London and I hold an BSc in Accounting & Finance plus an MSc in Finance (both from top 10 UK uni's and 2:1 plus high merit respectively). I am originally from Greece and during my studies I had only summer-internships in shipping companies, the only companies actually take interns there. Hence when I tried to get an ibanking job after graduation, seem that my lack of relevant intern experience got me nil interviews (tried for over 6 months before graduation). Although I was super passionate, motivated and ibanking acquaintances encourage me that I would be great fit for ibanking, maybe I was unlucky or something went really wrong back then. Anyhow with an ease I got a job at an energy major analytics and now I have 3.5y experience on that. However, i got fed up with the energy majors' very slow pace and demotivated working environment and want now to make a second attempt for ibanking and get that excitement feeling of learning and contributing at your work. Started even the CFA to resharpen my knowledge....
So....If I get in to all the applying for off-cycle roles and sending to companies cold emails, could realistically expect to received any positive reply, now that i have 3.5y experience in energy analytics....?
I hear a lot about head-hunters but they always ask for 1-2 years ibanking working experience.... do they help out career changers or just play it safe with existing ibanking professionals?
Finally just to be sure that the nil interviews 3.5y ago were due to bad luck and not CV or Cover Letter cock-up, is WSO Resume/cover letter review service worth the try? (especially in a career changing profile...) or if you have any other service to recommend.
Many thanks in advance for your advise!!!
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.
Translating Oil Industry Experience Into Consulting/IB - New Member (Originally Posted: 04/01/2016)
Greetings, I am new to this site and I am excited to see what WSO has to offer! I am currently seeking to leverage my industry experience to move into management consulting and eventually investment banking, venture capital, or real estate. I graduated in May of this past year and I am currently working for a large supernational oil company, with experience in supply chain/operations/procurement. I find my job to be too relaxed at times, and I don’t see myself growing to my maximum potential while at this company. I attended a “high” non-target school (a top 10 public university), and had 2 internships with Fortune 500 companies supporting supply chain management. I realized too late in my college career that I should have majored in finance instead of supply chain.
Does anyone have advice for my situation? I am willing to work hard and endure longer hours to reach my goal. I have a diverse network of professionals across many fields (the Big 4 recruited very heavily at my university—I would be interested in Deloitte/PwC Consulting). Ultimately, I am trying to determine how to figure out the best possible next step in my career. Thank you in advance, cheers!
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
just so you know MC to IB is not common
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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