superday coming up for an associate position with the oil & gas group of a BB. My reason for wanting to work in oil and gas is more driven by location (originally from TX and want to work there after graduation), so I am having difficulty coming up with a good answer to the "Why Energy" question that I will certainly be asked.
Can someone please help me come up with a respectable answer?
Thanks
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You find the complexity of the oil industry/Rockefeller/capitalistic history intriguing.
Or honestly the answer "I grew up in Texas around the oil industry and was always fascinated by it" is probably a really good answer.
Or even "I'm from Texas" is probably saying enough.
Just a few thoughts off the top of my head:
-it's highly capital intensive (think of huge oil rigs / infrastructure / equipment / fields) so the oil guys need their bankers and there is a constant necessity for capital -it features some of the most complex modeling out there--there's a lot to learn, and therefore demand and high compensation for people with that skill set -huge macroeconomic / political / global importance (commodity environment tightens up and entire countries start to go bankrupt, for example) -it's the scene of (I would argue) one of the greatest technological revolutions of the century, fracking / well completion and directional drilling -just my opinion, but I love that it's "real" (buying and selling huge oil fields, tankers, rigs, not just "clicks on a page")
Not sure you'd want to say all of that in an interview, but maybe those could help get you pointed in the right direction. Best of luck!
this is great. Thank you so much!
This is the correct answer. At the macro scale, oil & gas is super interesting, especially looking at all the crazy stuff that has happened in the last decade or so. That's essentially the answer I give.
To echo what AC0200229 said the technological innovations is HUGE. Forget fracking take a look at the digital oilfield (i.e. using sensors to gather data and do preventative analysis, operating drill bits via sophisticated algorithms, drilling multiple wells with a very limited crew that is sending live data back for decision making, etc.)
Silicon Valley is working closely with the O&G world and this is good for bankers as it allows for more capital market solutions and M&A opportunities and positions MM and EB banks to succeed.
Awesome! Helped with my SA app to BP. Thanks a ton
You made me want to be a O&G banker!!
Haha, I second this.
Good post.
I agree with the guy above, just use non complex jargon and go off on how energy is the future.
When I was recruiting for O&G IB, I had three reasons for "Why Oil & Gas?" 1. Grew up in it. Talked about growing up in an oil region of Texas and my ties to the industry through both family and friends. 2. How vital it is. There can be no global economy/civilization without energy. 3. The sense of scale. Projects in the oil industry are massive in scale, and tangible, and almost monumental.
That was good enough to get me three super days and offers at two of them.
Having ties to Texas is a big leg up, because there are a lot of people who try to interview for Houston/Oil just to try and switch to NYC.
Curious... how difficult is it to move to NYC from Houston if you're at at high quality BB/EB.. whether laterally to banking or buyside? What are the options? Is it common?
People definitely do on the buyside. I'm sure its possible in banking, but trying to immediately switch to NYC is going to piss off your bank.
Depends on your relationships within the bank TBH. I'm currently in that exact position. Seniors are very receptive to helping me. However, that is because they have been pleased with my performance and want me to stay internal. Everything with internal transfers depends upon your relationships, and obviously if there are open spots as well.
This is great. Thank you so much!
cause it's oil and gas brah
O&G is made up of some of the largest companies in the world. Large, complex deals are common. Additionally, a lot of A&D activity. I ask this question often when interviewing candidates. I get a a lot of "I grew up around O&G and the industry, family/ friends in TX" - nothing wrong with these responses. A genuine response is always better than a manufactured one IMO.
Why Energy - How would I answer this? (Originally Posted: 01/18/2011)
How would I answer this question well in an interview?
never sleeps
I always wonder why people ask "Why X?". It is different for every person, if you don't have an answer why would you want to do it for a living?
Energy- important to national security, high degree of interconnectedness, always changing, etc. Think of something that you are interested in that relates to energy, or how energy relates to something on your resume
geopolitical/commodities always in play/growth of need since the world is growing. those are mine
backbone of every modern economy
industry challenges, dynamic, growth
Being on the interviewer side, I am not a fan whenever I interview a candidate and their only reason for O&G is "I'm from Texas, I grew up with it". Unless your family has old money ties to oil and your dad sits on the board of 2 PE-backed portfolio companies, this is a non-answer. I bet you grew up watching Pokemon too...yet I don't see you trying to become a Pokemon trainer.
I agree if that's the only reason given, but if a Texas-raised kid follows that up with one or two other relatively mediocre reasons, I usually let it slide because, as you know, being from Texas (especially Houston) means your flight risk is much lower. It's a question that you have to ask but it's more of a check-the-box type because I'll be able to tell how interested they really are about O&G by the end of the interview (or if a mediocre answer is because they're a mediocre candidate).
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