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re: Need some advice on a career change
Posted on 12/6/12 at 9:48 pm to slackster
Posted on 12/6/12 at 9:48 pm to slackster
PETE would be a big commitment to go back and get a degree. That being said, you are young and still have your full career ahead of you. The worst case would be getting out with your degree in PETE right when the cyclical industry hits another down cycle.
Finance and PETE are both lucrative careers for the top earners. My view is to find something you like doing and be the best you can be at it. Which would you enjoy more?
Personally I grew up with primary interests in finance but also did well in math and physics. I figured it would be easier to get an engineering degree then an MBA than to do it the other way around. So that's what I did. But actually I really like the petroleum engineering itself and have stuck with a technical career path. Being a good petroleum engineer, particularly for an independent E&P, requires a lot of focus on assessing and maximizing discounted cash flow. So I get plenty of a business outlet too.
Some friends of mine have moved into the M&A side and make a killing as experienced petroleum engineers that moreso are deal makers now. Personally I have found the engineering side lucrative with the side benefit of actually enjoying my job, although it can be quite challenging (fine by me).
Finance and PETE are both lucrative careers for the top earners. My view is to find something you like doing and be the best you can be at it. Which would you enjoy more?
Personally I grew up with primary interests in finance but also did well in math and physics. I figured it would be easier to get an engineering degree then an MBA than to do it the other way around. So that's what I did. But actually I really like the petroleum engineering itself and have stuck with a technical career path. Being a good petroleum engineer, particularly for an independent E&P, requires a lot of focus on assessing and maximizing discounted cash flow. So I get plenty of a business outlet too.
Some friends of mine have moved into the M&A side and make a killing as experienced petroleum engineers that moreso are deal makers now. Personally I have found the engineering side lucrative with the side benefit of actually enjoying my job, although it can be quite challenging (fine by me).
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Posted on 12/7/12 at 10:43 am to Hand
quote:
Life is where dreams go to die. Figure out what will make you happy and go for it. I haven't figured it out so I'm staying put for now. Good luck with your decision.
Posted on 12/7/12 at 10:45 am to Bob Sacamano
quote:
But you should seriously take a look at U of Chicago, Penn, Columbia, Etc, with that GMAT.
Like I said, my profile does not stack up well at all outside of my GMAT. I am pretty much a cookie-cutter run-of-the-mill guy on paper, with a very high GMAT
I've looked into Booth and Wharton, and I will likely apply to both. I used to be high on Columbia, but I've backed off for no particular reason.
Posted on 12/7/12 at 10:46 am to TheIndulger
quote:
I like where your head is at. Don't just sit around and work a job that you don't like just because it pays well.
Thanks for the advice.
Posted on 12/7/12 at 11:49 am to slackster
Personally I wouldn't go back to school to start over in a new major. You are making damn good money for someone your age so I would look to move around the financial field either with new jobs or with an MBA. You are only going to move up from where you are.
Posted on 12/7/12 at 1:39 pm to slackster
What about pursuing the poor man's MBA - i.e., getting a CFA? You can continue earning the nice coin and then 2-3 years later, you've got 5+ years experience, strong comp, and the CFA. Then, consider going into investment banking or similar - something that both excites you AND allows high compensation, Taking a detour to get a technical degree and all is in no way a "bad move", but that won't guarantee the outcome you're looking for. By the way, I think your post would go to the top of any credible list of "first world problems"!! Congrats!
Posted on 12/7/12 at 2:03 pm to slackster
Oil and gas isn't as glamerous as everyone thinks. If you want to trade places I will gladly do it? Seriously though why not save a boat load of money and start a business? Working for any large company is not going to be stimulating to anyone I would imagine. We're all essentially middle men.
Seriously though why not save a boat load of money and start a business? Working for any large company is not going to be stimulating to anyone I would imagine. We're all essentially middle men.This post was edited on 12/7/12 at 2:09 pm
Posted on 12/7/12 at 2:23 pm to K E V 8 4
quote:
What about pursuing the poor man's MBA - i.e., getting a CFA?
Unless already doing analysis work and/or already taking graduate level finance classes that will be a real b1tch to do IMO. But if you can swing it, go for it, it's definitely a good designation to have. Maybe his current employer will help out, if so that is worth looking into.
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