Investment Banking
Hi guys,I am a freshman passionate about IB and I was curious about what the exits opportunities are for energy investment banking. I have seen some people from energy IB go to elite boutiques in Texas, but l have interest in working in PE or HF ideally in something other than energy.If there is little opportunity for people in energy IB, does anyone have recommendations for trying to get to NY or Chicago, or somewhere that has IB other than energy? Perhaps networking, but what are the steps to turn a connection into an offer?I'm in my first year so l have time to build up connections, and l'd appreciate any advice from those who may have gone through the process. Thanks!
Energy IB -> generalist/non energy PE is an uphill battle. Lots of people have to lateral to a different group first. Unless you are really excited about energy, or that is the only path open to you, I would aim for NY IB.
Locations: Toronto is not a common location if you are from the US - if you're a Canadian citizen, by all means. Chicago will want people with ties there - either college in the area or grew up there. SF is the other big one, very tech focused and they prefer to see some West Coast ties. New York is really the big location for IB, so focus your efforts there.
Networking is really the answer. If you do a search on here, there's tons of guides on how to do this, how to ask people about their bank's recruiting, etc. I'd wait until your sophomore year, even early fall will still give you plenty of time - if you contact people as a freshman they are likely to leave by the time recruiting rolls around, and a lot of people will ignore any email from a freshman.
Thanks for the detailed response, l really appreciate it. Energy IB is the only option for where I'm from, so l have been looking at other places that would have different divisions. I'll check out the networking guides though 👍🏼
If you are from Calgary or a small school in Texas that only feeds to Houston IB, it's also very doable to lateral to NYC after 1 year in IB. I would recommend against doing this between SA and FT (this is a Judas move in energy) but totally fine to leave at 1 year, and not a difficult move.
You’ll get plenty of looks. Have seen a half dozen people move to tech banking in the last year at analyst and associate level. 6 months to 2+ years of experience. Even more move out of energy/banking generally.
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