RiverRipper's Guide to Energy

What are your exit options if you work at place like Wood Mackenzie? In general I dont see too many consultants in energy sector moving to upstream sector. They seem to have more success on the power and downstream side? Any thoughts ?

Another question for anyone who has the time to answer: I'm mainly interested in renewables/cleantech and would like to get into i-banking post grad. Where is the epicenter of renewables banking? SF? NYC? How would Haas/Stern/Ross place into these groups? Thanks.

Does anyone have experience with or knowledge about Chevron's Commercial Skills Development Program and the Downstream & Chemicals MBA Program? Please correct me if I'm wrong, but these seem new. Both of these programs seem very interesting. How do they compare with the Finance MBA Development Program?

Thank you in advance.

If you want to join an MBA program at a big oil company, I would say that Chevron is probably the single best options. Their finance one is extremely well run, these other programs are based off that design.
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If you want to join an MBA program at a big oil company, I would say that Chevron is probably the single best options. Their finance one is extremely well run, these other programs are based off that design.
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Wow incredible post, thank you River.

As an ex-pat kid, I've always been drawn to the industry. Now that I work for BB in Canada (not energy related, yet.), I see myself drawn to either energy trading or Oil & Gas ER.

Here's a note that I'm reading currently: https://www.mccombsefg.com/EFG/Resources ... inners.pdf

Its written by Deutche Bank's O&G researchers.

Is there a commodity/energy trading thread where we can talk about how to break into Glencore/Trafigura/Vitol/Noble/etc?

Check out wallstreetoasis.com Search for posts with the username "monty09". you will get a lot of data on energy commodity trading.

Also check out GARP's Energy Risk professional Certificate. To get a real feel of the kind of disciplines one needs to know to become a trader. the ERP certificate covers various classess of energy but still i think it gives a respectable idea about the nature of things an energy trader needs to think about.

I have been thinking about working for an oil company but didn't know where to start to look for info, this thread has been a God-send

Thank you for sharing your knowledge everyone!

Alas, it looks like energy is not for me after all. I'm headed to a major telecommunications company in their rotational program after school.

Could anyone share a bit about the career and salary progression of post-MBA jobs in the Oil supermajors? How do they stack up against the typical routes of management consulting/i-banking/PE?

Hi guys,

I work as a Reservoir Engineer for Shell. I'm happy to answer any queries about the industry!

Thanks for such a great thread! I work as a Marine Terminal Operations consultant with some experience in planning Crude Oil terminal facilities. I am planning to apply for a top 5 MBA program and am interested in a career in Oil and Gas industry post MBA. Can anyone please shed some light on the following: 1. Career growth for MBA candidates in a non finance role in Oil and Gas industry specially for those who were not employed in the same industry pre-MBA? 2. Also how challenging is it to get a management job in Oil and Gas industry after graduation for students who have engineering background but (some related experience) but have no previous experience working in this industry. Thanks in advance for your help.

Hi there.

I might not know everything about the industry since it is so huge in terms of different jobs and functions. My answers are based on my work with a MNC energy company:

1.If you are employed for a certain job, I believe it doesn't matter where you come from pre-MBA because the recruitment takes care of placing you in the right job. Also, there is no specific career growth path in the industry. For example, if you want to be VP of Shell America, there is no pre-destined career path. You can start in Operations or Surface Engineering or Petroleum Engineering or Exploration or Project Management and end up there. The most important thing is how good you are. It seems to me, correct me if I'm wrong, that you have experience in operations. If so, I believe you, with an MBA, can apply for a job in Operations Management or finance and business planning roles. However, it is nonetheless a norm in the industry to do role broadening jobs such as changing from a geophysicist to a business planning role to an operations role in preparation for future leadership roles.

2. Again, your background shouldn't matter because the recruitment guys will put you in a job suited to your background. If you have a technical background, you can also apply for a technical management role. Management roles comes from alot of different aspects - Operations, Supply Chain, Engineering, Projects, Petroleum Engineering etc.

Overall, your background and technical experience will allow to fit you in the industry for a variety of different roles. What energy majors like Shell ultimately look for is your abilities in coming up with solutions, implementing these solutions and how you manage these relationships.

Hope I managed to help.

Hello,

I believe:

1. Career Progression: There is no fixed career progression in the oil and gas industry. It depends on background, your interest and your goals. For example, you can start of in engineering but can end up in finance. While you can progress in terms of job groups and salaries, you are the one deciding your career path.

2. Salary Progression: Working with an Oil Supermajor allows you to work all over the world. Normally, this comes with a hefty amount of allowance which can go up to an average of 15k a month for an normal engineer. Furthermore, the allowance depends on where you are based. If you are based in Nigeria, which is perceived to be more dangerous, then you will be paid a higher amount. As for MC/IB/PE, I'm not too sure about their salary progression but I think they also pay very very well.

My advice is don't go into jobs just for pay. Go with what your passion is. What makes you wake up everyday?

I commonly see that energy companies look for people with engineering or technical degrees. What exactly is meant by "technical degree"? Specifically, I have a degree in molecular biology and much of my work has been in biology/chemistry. Does this qualify? I am curious if they want something general (data analysis and quant skills) that these degrees provide, or something specific like a background relevant to the industry.

Thanks!

DL

RiverRipper,

This was an amazing guide and a lot of my questions have been answered. However, one question that has not been brought up is the salary compared to consulting. I am interested in either doing consulting or energy. My girlfriend works in energy right now as a chemical engineer, and she makes a pretty hefty sum. I have a master's in aerospace engineering so it wouldn't be too big of leap for me as I have worked on downstream products such as powerplants and gas turbines in past engineering internships.

Would anyone be willing to do a real world comparison from experience for salaries? I have looked at placement statistics from UT as well as Sloan and it seems the starting is about 91k with 10-15k bonus while consulting is 110-120k...

Thanks!

This is a great post with a lot of insightful opinions. Hat tip to the original poster!

I myself am looking at pursuing an MBA in energy. For this reason, I have specifically targeted Oil and Gas schools in Texas. Post MBA I would love to work for Exxon or a Chevron. However, International students on campus tell me that the these giants do not hire foreign nationals.
Could anyone from the industry tell me why this is so? What are my options if I decide to work for these companies from outside the US, say from Canada? Could I get placed in an international location through a US recruitment?

Also, would the starting salary for someone in a business development role, post MBA, in Houston be around 100k? I got my information from Glassdoor

https://www.glassdoor.com/GD/Salary/Chev ... OUR_TO_SIX

Have you factored in location? a 91K in Houston is will go a long way than a 120K in NYC.

From a Canadian standpoint: if you want to work in Canada, I suggest studying and networking in Canada (more specifically, in Calgary). https://www.economist.com/whichmba/unive ... iness/2012