I can only choose one office to apply to, and I was wondering which office I should apply to. I love O&G, but I want to be realistic with my options. I go to Georgetown, which is def not a target to Houston. What do y'all think?
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Why do you love O&G? Do you have family connections to the industry or Texas?
If you have some real reason for why O&G and network in Houston they will be open to you, but if not just focus on NY.
Houston. It's a lower cost of living.
The Houston group is a cross product O&G team, meaning they do M&A&D, Cap Markets, and Rx. Other EBs like TPH / PWP and EVR will run their Rx deals through the NY office while working with the HO coverage team. It's a solid group with good buy-side exits. They landed some marquee company-side deals in the last years (Whiting, Saudi Aramco, etc.). If you haven't already, you should look at other threads about MOE (NY and HO), O&G / HO banking, etc. If you're interested in O&G, then HO for sure. If you want to get into O&G to just get into O&G, I think it's important to work at banks that have Rx arms, but that's just me, personally. Just keep in mind that some banks won't have Rx arms at all or will basically "hand-off" the work to the NY office during a Rx deal.
If you're thinking ahead about buy-side recruiting, I think you'll be looking at more energy-focused exits in HO. I'm not saying you'll only get opps for energy-focused exits, as the cross-product nature with direct Rx work will help for distressed recruiting (for example), but energy-focused exits seem to be more prevalent in the group and the broader O&G / HO banking.
Georgetown is a good school, and I've seen plenty of people from other schools that you'd call a target or semi-target for NY recruiting place into EBs in HO. I don't think I've seen anyone from Georgetown come through that group, but I'll let someone from MOE talk more about that before I say anything misleading. Bottom line, Georgetown is a good school, so I don't see any reason why you wouldn't be able to get involved in the HO process. I think it might involve more networking, but I don't see it as a material challenge. If you're from the HO area, I'm sure you can leverage friends, family, people from the same high school, etc. to narrow down people to reach out to
You can go through the other threads to get an idea about WLB, COL, buy-side exits, etc.
This is very accurate, +1. Although there's been a lot of lateral attrition over at Moelis Houston (know a few people personally) and it's been called out in a some of the recent threads here. Still a good group but before committing, I would suggest OP use LinkedIn and reach out to some of the former analysts who have left to get their perspectives.
I actually think there is a Georgetown alum that works there as an analyst fwiw.
Non-targets in Houston aren’t really non-targets if they’re top schools from the northeast. It’s probably an advantage if anything to be the random guy from an Ivy or Georgetown or Duke or whatever
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