I have been employed in the upstream oil and gas (O&G) sector for nearly five years, specialising in corporate finance, project financing, economics and screening of M&A opportunities. For my first two years, I worked as a buy-side O&G analyst and then moved to general commercial and corporate development work.

Most O&G companies offer excellent work-life balance, and my career plan had always been to move to another employer in this sector. I never thought of venturing into uncharted territory – the financial industry.

Well, not until 2007 that is, when a UK-based recruiter called me in Asia and spoke passionately about an opportunity with at an equity research house specialising in natural resources. Despite my initial reservations, she reasoned that I could easily transfer my skills to lucrative finance-sector jobs in corporate advisory and equity research.

Since then, I have never constricted my searches to O&G, but have also included investment banking, conglomerates, and consulting companies that deal with natural resources.

Why I love banking

I have spent two years dealing with investment bankers on various deals, such as project financing, listing on the AIM market, and global M&As. What attracts me to investment banking as a job are the excellent rewards, excitement and satisfaction that you get at end of day.

The way I see it, banking gives you the opportunity to get involved with clients and generate revenue ideas, and you are rewarded well for bringing in business. Investment bankers facilitate clients’ growth by providing capital and matching buyers and sellers of assets in the M&A market, regardless of geographic location.

I got so close

A few years ago I posted my CV on a financial website and began to get strong interest from recruiters as far away as Europe. Between 2007 and 2008, I went to several interviews with investment banks and research houses in Singapore and Greater China.

Thanks to skyrocketing oil prices there was a marked increase in M&A and financing activities, a mushrooming of smaller independent O&G outfits seeking IPOs, and a surge in trading energy stocks, which resulted in greater demand for research information. Most of the interviews went through to an advance stage, where the probability of landing a job offer was imminent.

But I haven’t got my big break yet

But the transition into banking has not materialised for me so far because of different expectations. I think my O&G finance experience is relevant to banking roles, as is my intimacy with the way the O&G industry operates, but the remuneration packages offered were not reflective of this.

I once encountered a jerk of a hiring manager who discounted me for lack of banking experience. If they don’t value your background and skills, walking out is the only option.

Despite the onslaught of the global financial crisis and massive layoffs in 2009, the demand for my area of expertise has shown some resilience. It’s not unusual to get two calls from recruiters per month, but the variety has narrowed down to O&G consultancies, and exploration and production (E&P) companies. Nothing related to banking.

Time to give up?

News that banks are beefing up their operations in Asia and are on prowl for talent is in the papers almost on a weekly basis. Is this true? For me, the plan now is to drop banking from the radar. As I enter my early 30s, my desire to risk the comfortable pay and bonuses, excellent work-life balance and security of O&G for the high risk and long working hours of banking is declining.

With oil prices hovering at US$70 to US$80 a barrel, improved outlook for exploration activities to meet the demand, and an acute shortages of energy professionals, it’s more sensible to leverage my skills by working for an E&P company that is thirsty for oil.

Banking is on the backburner for now.

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