With this post, we’d like to dive deeper into the various finance roles available to MBAs interested in the energy sector. Here is an executive summary of the various finance-related roles available to MBAs interested in the energy sector (note this list is certainly not all-encompassing):
Typically at a large energy company or utility, these roles could include budgeting and financial planning, treasury and cash management, mergers and acquisitions (“M&A”), or general strategy. These roles generally require an interest in the energy sector, knowledge of corporate finance concepts and financial modeling, and strong communication skills. Corporate development roles will also usually require prior investment banking or corporate development experience. Example companies include: ExxonMobil, Chevron, NextEra, and Dow.
Typically at a utility, developer, or bank, these roles primarily involve financial modeling and structuring individual power and infrastructure projects. These roles will require more intimate knowledge of the energy sector, financial modeling and valuation experience, and a high attention to detail. Example companies include: Apex Clean Energy, DTE Energy, Credit Agricole, and Cypress Creek Renewables.
Specifically in Oil & Gas and Power & Utility industry groups, these roles involve helping energy firms raise capital and financial/M&A advisory services. General requirements include an interest in the specific industry sector, knowledge of financial modeling, accounting concepts, and valuation, and strong communication skills. Example companies include: Bank of America, Morgan Stanley, JP Morgan Chase, and RBC Capital Markets.
These roles involve investing in energy companies and infrastructure projects with private capital. Prior investment banking or private equity experience will almost always be required and the day-to-day work will be mostly financial modeling and due diligence activities. Example companies include: Partners Group, Brookfield, and Macquarie.
Less financial modeling heavy than some of the other finance roles, venture capital and sustainable investing involve sourcing and investing in early- and late-stage energy and clean tech companies via a standalone firm or a subsidiary of a larger energy company. These roles may require more technical knowledge and due diligence experience, a strong interest in the energy sector, and an entrepreneurial spirit. Example companies include: Shell Ventures and BCI Technology Investments.
As with most roles in the energy sector for MBAs, substantial networking will be necessary to get access to some of these opportunities. Along with the Energy & Cleantech Club, the Graduate Finance Association is a great resource in preparation for the technical and behavioral aspects of finance interviews. The Energy Finance course, taught by Professor Chris Telmer in Mini 4 and a requirement for the Energy Business Track, is another way to learn more about finance in the energy industry in preparation for summer internships and post-MBA roles.
