Hello everyone, this is my first post on WSO after lurking for the past year or so. I am interested in pursuing investment banking in oil and gas in Houston, TX but I have some concerns.
My background:
I am originally from Texas and currently have family (mother) in Texas.
I graduated from a top four engineering school with a mechanical engineering degree.
I have six years of experience in the oilfield services side of the energy industry as an engineer in Texas.
I am an URM.
My concerns:
- I was recently accepted to Sloan for my MBA (an accomplishment I am really proud of and excited about) but I know Sloan isn't big on banking.
- I was dumb enough not to apply to McCombs or Jones knowing these are the schools banks in Houston recruit from on a regular basis.
While I am confident I can still get an IB gig from Sloan I am wondering how difficult it will be to get one in Houston? If it is possible what are the best routes to get there and what extra steps will I need to take to make sure I get there? Would I be better off going to NY first?
Thanks!
Just reach out to people in Houston IB and I'm sure you'll be fine given your background
If you're close / have good relationships with anyone in your past role, ask if they know anyone in energy IB. I'm sure, being an OFS company, they do
Thanks for your suggestions!
If it means anything I don't think McCombs is as heavily recruited at the MBA level when compared to the undergrad recruiting. In fact, I think you might have an advantage with your background.
Thank you for your comment. My biggest concern is that I will be in the Northeast when I am looking to get back to Texas and fear that will put me at a disadvantage compared to students coming from McCombs, Jones, Cox, etc. Hopefully the MIT name, my background and my honest interest in IB in energy will be convincing enough to banks to get me in the door though.
This is false. McCombs and Rice still make up the majority of Houston associates coming from business school.
Interestingly enough, I have run into Houston IB associates from pretty much every MBA business schools">M7 except Sloan. I'm sure there are some, but not as many as Booth or Wharton (which seem to place well in Houston for some reason). That said, with your background I think you should be fine. You will get asked why you decided to go to MIT if you wanted to to energy banking. But it sounds like with your family ties and professional experience, you have a good story for ending up back in Texas. You just won't have as strong of a business school network in Houston.
Thank you for your comment! Sounds like I will be doing a lot of flying back and forth from Boston to Houston and will need to think of a solid story for why MIT. How important would you say the b school network is in Houston? I'm sure it's important to help you get in the door but will coming from Sloan hinder my advancement in Houston?
JPM Houston has a 2018 summer associate from Sloan, so it's definitely doable.
I apologize and stand corrected.
I was swayed by how much the advertising around the school was boasting about placement in the tech sector. Roughly 10% of the class will place into banking (majority if not all in Houston). I underestimated the sheer number of students as 10% of ~250 is still 25 at the associate level. Did not mean to mislead/sugarcoat as there is a huge advantage from a networking standpoint for McCombs students. What I meant was given your credentials (oilfield services) you should be able to stand out if you can nail your story on why oil and gas IB.
Wrong. Every bank recruits there for MBA candidates. You have to. The pool of talent from outside the Texas schools (UT, Rice) is too small relative to the number of firms hiring.
That's not really true.
If you want to do oil & gas finance, don't waste your time in NY. Houston is the hub for that industry. Your background is great for oil & gas IB, and MIT B-school wouldn't hurt at all. PM me if you have any specific questions.
I attended Sloan for my MBA and recruited for banking in Houston (I'm still at the same firm). PM if you have specific questions.
If you got into MIT, likely you would get a scholarship or even full ride at mccombs or rice. I would personally go to Mccombs or Rice instead.
I’ve gotten impression Texas is less formal. Less of a set path.
I could see the booth Texas connection. Personality wise the closest MBA business schools">m7...and booth is named after a Texan.
Curious what does Sloan usually place in? I have little knowledge on that but would seem like a place to go to get into engineering management like a pharma, medical device or tech company,
Sloan is mostly consulting and tech. Amazon and McKinsey are their top recruiters.
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