Engineering Major Breaking In Energy banking

xliaban's picture
Rank: Senior Chimp | 22

Hi all,

I have been lurking for a long time and not sure what goes from here. Not gonna bore you guys with why and motivations, it doesn't really matter at this point and I am sure you all heard enough of those stories. Interested in IB, not super picky about firms name but prefer to stay in energy banking since I am super passionate about energy/O&G & Infrastructure. I just want to get into the industry. Canadian, Regional/Semi-Target, Engineering Major in the final year. Probably looking trying at possibly an internship this summer and graduating in Apr 2021. I know the issues with being at it this late in the game. Not sure if it is worth my time to do FT recruiting.

Past History & Academic
-GPA is quite bad(3.6/4.0)
-Work experience mostly in asset integrity engineering & project financing(Big Oil)(16month internship)
-Some experience in clubs etc. Not really having issues with a technical interview.
-Looking at doing CFA L1 in June.

What are the biggest problems I will have and how should I start addressing them? What is the path of least resistance for me at this point?

Comments (12)

Jan 17, 2020

3.6 should be fine. Check out the finance dept see if they have any alumni that can get you an interview.

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Jan 17, 2020

Thank you! I been networking extensively so far after reading about the WSO guide on it. I have diffculty "asking" for a job though because I feel like an entitled kid if I ask a stranger for a job after talking to his colleagues and him for a bit.

Jan 17, 2020

3.5 and higher for engineering is generally fine in my experience. Most bankers know it's harder.

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Most Helpful
  • Intern in IB - Ind
Jan 17, 2020

I agree, 5th year sounds like the way to go. It would be very difficult to land interviews for full-time without any banking (or even finance) experience, but that's not true for an internship. If you can, load up on finance courses that way 1. you gain some technical background and 2. it is a defensible and legitimate reason for deferring graduation.

I don't think your history of engineering is an issue. Major isn't a huge thing as long as you have some experience and can answer technicals. I would say engineering majors get more respect than non-finance/econ guys who get wall street jobs like political science, history, classics, etc.. Use it to your advantage, it shows you're a smart guy who can handle technical work.

Also, 3.6 isn't terrible. You might get flagged for it at top boutiques but I don't think BBs would care too much, especially given your major.

Start networking with alum in banking about internships next summer, tell them your story, tell them you want to hear about banking to confirm your interest (NOT that you just want a job; that's implied). Ask if they can connect you to others in the firm and repeat.

Good luck! You're not in a bad spot, nor an ideal one, but act with urgency and strategy now and you should be fine. I succesfully recruited for banking internships last year from a non-target, PM if you think I can help

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Jan 17, 2020

Thank you man! I appreciate it! I am definitely networking hard and I appreciate the advice. I was half expecting to be roasted here but the advice has been really positive!

Jan 18, 2020

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  • Analyst 1 in IB - Ind
Jan 18, 2020

I work in O&G IB and generally agree with what others are saying. Your GPA is fine. If you don't make it a big deal neither will we. Focus on your work experience and interview performance. Top priority for you right now is to start networking as you're not at a target school. This means cold emails, follow up calls and even flying out for office visits to Calgary/Houston (if you want to work in the US, would recommend). 5th year makes sense as you probably missed the recruiting cycle for most firms. Might as well do a master's if you're staying in school?

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Jan 18, 2020

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Jan 18, 2020

I am debating on a masters program as well.

To be clear, my school is a target school for Calgary for sure. Probably semi target for Toronto. No idea about US presence. I am not sure what kind of visa I will need for US as well.

That being said, I am networking but will do more aggressive and be more active thanks to your advice.

  • Analyst 3+ in HF - Other
Jan 18, 2020

I'd focus on Alberta rather than Toronto or the US.

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  • Analyst 3+ in HF - Other
Jan 18, 2020
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