The Actual Case for Houston vs NYC
I read the other posts so wanted to chip in and lean more into the real advantage to Houston. Recruited for both NYC and Houston IBD a few years ago and NYC blows Houston out of the water in high finance. Outside of energy, NYC offers a deeper bench of exit opps and verticals that Houston just won't have. Also have to agree that NYC is just a materially better city.
That being said, Houston's crown jewel, in my opinion, is energy / commodities trading. Still energy, I know, but unlike IB or Energy PE, this career path is on a path of structural growth. Power, Natural Gas, Crude, Products, Renewables - I know a number of people trading these products that are amassing small fortunes here. For context, Vitol was the fifth largest co by revenue in 2023 despite being relatively small. Your average trader at a top firm makes way more and works way less than the MD at Goldman or your standard corporate PE seat at Apollo.
I also find the job to give you an immense amount of responsibility in very little time even without having become a trader yet. In no other job will you as a 24 year old be given the directive to lead an entire operation for terminals and storage tanks in Cushing or manage a large fleet of power plants that cost millions or help schedule natty for a $100mm book. I worked across various major energy commodities, so I know how it feels like. Can these jobs have mundane or very stressful aspects? Yes. Every job has its cons. But I think the upside is if you can make trader you'll also have the chance to test your critical thinking skills and make a lot of money if you are correct.
Houston is the best place to do this. So much so that a lot of NYC HFs have set up several offices in Houston completely dedicated to the commodities sector. Even Jane Street just entered the game - I transact with firms like this on the daily. I came from an IBD "target" school so I understand the appeal to IB and NYC but I think for those looking to stay in Houston or considering alternatives to high finance this would be a great spot. I might end up taking this down since a lot of people in this industry really love to gatekeep but open to helping people out who are interested. I am fairly junior myself but feel this is my way of "giving back."
