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brooksbrahs
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brooksbrahs
Hi all,

I was wondering if anyone has experience with O&G and Tech corporate finance. I'm not really looking at consulting/IB in those fields, but am mostly just looking at being a controller, director of finance, etc. for company within those industries. Can anyone elaborate on the following:

1. Which one is more challenging from a finance perspective?

2. Which one tends to have a better work-life balance?

3. Which one offers more opportunities to work abroad/do international business?

4. Which one is less likely to discriminate against me because my background isn't in engineering (mine is accounting and finance)?

Even if you can't elaborate on the above, if anyone can offer perspective on either industry and which one seems to be liked more, I would appreciate it.

Thanks!

1. Oil & Gas - because of the large scale of the operation and capital projects as well as the inherent risks / uncertainties of the business.
2. Probably Oil & Gas - depends on where you work. 4/10 and 9/80 schedules are common in the US.
3. Oil & Gas - the locations generally suck, but you get well compensated for your suffering.
4. Tech - Oil & Gas is VERY engineering-oriented, and engineers look down on business people who don't know how to solve differential equations in their head. It is also very age-discriminating. If you are young or look young, don't expect to get much respect from the old bones. But don't be discouraged; I'm sure the CFO of Exxon has some kind of finance background.

Thanks for the reply. A few quick followups if you don't mind:

1. Would you mind clarifying what 4/10 and 9/80 mean? I've just never heard that terminology used before.

2. What are the major locations for O&G besides Houston and Dubai, particularly in the US (yes, I know Dubai isn't the US but I was mostly just referring to 2 cities that are famous for it)? Russia is obviously big on it, there's some stuff in Australia with the Gorgon, and I've heard Norway is actually pretty big, but where are common areas people travel to usually?

3. How do you feel about the future of O&G and especially utilities, even though utilities are a different field practically? I'm not one to put much stock in peak oil (at least in my lifetime), but if clean technologies ever become cost efficient, do you think they pose a huge threat to utility companies especially, with consumers potentially going off the grid and all? Clean tech won't replace oil in my or the next gen's lifetime because it's so much more energy effective, but I sometimes wonder about utility companies and if they'll still be standing toward the end of my life.

4. Just how much will my background be an issue for moving up? Depending on which field I end up focusing on, I am hoping to be a controller for a company, so is getting to this stage even difficult if I'm not an engineer? Realistically, I'll never be a CFO of any billion dollar business, but is even making manager that difficult?

Thanks for the response!
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I think this is more or less accurate:
riverripper-s-guide-to-energy-76849.html

Sorry I can't comment much on the career path for a comptroller. Everything I've said is based on the perspective of an engineer.

1. 4/10 - working 4 days a week and 10 hours a day. 9/80 - working 9 days out of 2 weeks (9 hours M-Th, 8 hours every other Friday, total 80 hours).

2. Just look up the location of the headquarters of the big oils. That's where finance people end up.

For international assignments you're probably looking at: Kuwait, Iraq, Qatar, Chad, Angola, Nigeria, Bangladesh, Indonesia/Sumatra, China/rural Sichuan, Venezuela... nicer places would be the North Sea, Brazil, and western Australia.

3. Skip.

4. The big oils do hire finance people with no engineering background, but I think the competition for those jobs is a lot higher. And it will take longer to move up the ladder (it's true with any career tracks in big oil).

Good luck!
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Btw CVX's current CEO is a Booth MBA with an economics degree.
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