Energy PE Next Steps Decision
I'm going on my second year as a pre-mba associate at a MM Energy PE shop. I've performed well at my current job and while the position is normally two years I have been offered the opportunity to stay on for a 3rd and be promoted to a Senior Associate. My goal has been to get back to my home city in the same state however given Energy has been in the dumps lately I'm worried I won't be able to find a similar role at another PE shop and might either end up with no job or working in IB as a first year associate. I am open to pivoting out of Energy and the way I see it I have a couple of options. For personal reasons (non-financial) I am highly motivated to move back to my home city at the end of my program.
- Stay a 3rd year at the current shop giving me a title bump, pay raise, and better ability to recruit for Senior Associate positions going forward
- Recruit for PE position in home city likely starting another 2-year associate program with hopes of being promoted
- Move to IB as an associate in home city
- Do an MBA and pivot out of Energy completely then recruit for senior associate position after
I know there is limited information here given I want to maintain anonymity, but given the current state of energy what would you do if you were in my shoes?
Feel free to PM me somehow as I was in your exact same shoes a few years ago. If you don't, let me just say that it's very tough to go from energy to non-energy.
Are you in E&P?
Yup it's E&P specific currently.
Got it. With that in mind, below are some thoughts. Also assuming most of your time in banking was focused on E&P.
Options 1 / 2: I don't know where your home town is, but probably safe to assume there is not much E&P PE. Unless you're moving from Houston to Dallas or vice versa. Frankly, it's going to be a tough putt to make the lateral move to another firm that has little to no energy exposure. Most of your interviews will focus on deal experience thus far. They're going to think you're speaking a different language when walking through nuances of your deals. From what I've seen, E&P is the hardest energy bucket to break out of. I would highlight any non E&P deal experience to give yourself best shot
Option 3: Don't have great insight here. Assume you'll run into similar problem as above, particularly with larger banks with more regimented associate hiring
Option 4: This can work, but don't get your MBA in Texas (Rice - Jones or UT - McCombs). If you do, you'll end up getting funneled right back where you came from (assuming there are any E&P shops still standing)
For context, what's going on in E&P? Why do you say "assuming any shops still standing?"
http://www.rbcrichardsonbarr.com/
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