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McKinsey back to o&g or renewables

2,854 Views | 16 Replies | Last: 9 mo ago by infinity ag
htown12
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8:42p, 1/30/24
Looking for some advice. I worked as engineer in upstream o&g for a decade and then started working for McKinsey after getting my MBA. Been here just over 2 years and would like to get off the 4 day travel weeks for my families sake.

I've noticed that the hiring into oil and gas companies is almost nonexisitant so I'm starting to wonder what else I can do and looking for ideas.
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hangman
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11:22p, 1/30/24
I have a hard time believing some oil company wouldn't give you a look from McKinsey especially if you aren't overly demanding on matching comp.
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htown12
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7:47a, 1/31/24
Haha I am just as surprised as you are.

Also on comp agreed am looking for a lot less but offset by an increase in WLB.
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RangerRick9211
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In reply to htown12 • 9:28a, 1/31/24
AG
You're at McK, homie. We sell ourselves for a living. So sell yourself for whatever role interests you.

I'm M&A at Big 4 out of B-school (prior was a CIVE in O&G construction). 6 years and finally hit my limit, so on the interview war path to exit. So far, I've had convos with PE PortCos for ops roles, in-house M&A at two large EPCs, in-house M&A at an OEM, in-house consulting team at an OEM and a slew of "Business Development" or "Chief of Staff" across tech, OEMs, anyone I can find.

I'm west coast now, so slimmer pickings for my specific background, but I'm getting return calls.
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aduey06
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12:54p, 2/1/24
Having been thru two McKinsey re-orgs, I find it somewhat comical that someone from there is lamenting the fact that O&G is not hiring.

If you have good contacts within upstream oil and gas, maybe look at BD for midstream companies.
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Sims
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1:07p, 2/1/24
AG
Quote:
I'm M&A at Big 4 out of B-school (prior was a CIVE in O&G construction). 6 years and finally hit my limit, so on the interview war path to exit. So far, I've had convos with PE PortCos for ops roles, in-house M&A at two large EPCs, in-house M&A at an OEM, in-house consulting team at an OEM and a slew of "Business Development" or "Chief of Staff" across tech, OEMs, anyone I can find.
Don't think I've read a more management consulting group of jargon in a while.

Nothing else to add, good luck to you both
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RangerRick9211
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In reply to Sims • 9:10a, 2/2/24
AG
Sims said:
Quote:
I'm M&A at Big 4 out of B-school (prior was a CIVE in O&G construction). 6 years and finally hit my limit, so on the interview war path to exit. So far, I've had convos with PE PortCos for ops roles, in-house M&A at two large EPCs, in-house M&A at an OEM, in-house consulting team at an OEM and a slew of "Business Development" or "Chief of Staff" across tech, OEMs, anyone I can find.
Don't think I've read a more management consulting group of jargon in a while.

Nothing else to add, good luck to you both
Homie, "Mergers and Acquisitions", "Civil Engineering", "Engineer-Procure-Construct", "Oil & Gas" or "Original Equipment Manufacturer" aren't consulting terms.

But to level-set, I'll add your comment off-line to our dyssynergy RAID tracker, agenda it on tomorrow's scrum to run it up the flagpole before we boil the ocean to right-size a tactical, but strategic result drive outcome specific to OP's net-net needs. Just don't ask me to double-click on any of that during out next touchpoint because I actually have no idea what I'm doing.
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Cyp0111
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In reply to RangerRick9211 • 10:14a, 2/2/24
consulting is the slow death of all involved.
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Sims
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In reply to RangerRick9211 • 10:50a, 2/2/24
AG
RangerRick9211 said:
Sims said:
Quote:
I'm M&A at Big 4 out of B-school (prior was a CIVE in O&G construction). 6 years and finally hit my limit, so on the interview war path to exit. So far, I've had convos with PE PortCos for ops roles, in-house M&A at two large EPCs, in-house M&A at an OEM, in-house consulting team at an OEM and a slew of "Business Development" or "Chief of Staff" across tech, OEMs, anyone I can find.
Don't think I've read a more management consulting group of jargon in a while.

Nothing else to add, good luck to you both
Homie, "Mergers and Acquisitions", "Civil Engineering", "Engineer-Procure-Construct", "Oil & Gas" or "Original Equipment Manufacturer" aren't consulting terms.

But to level-set, I'll add your comment off-line to our dyssynergy RAID tracker, agenda it on tomorrow's scrum to run it up the flagpole before we boil the ocean to right-size a tactical, but strategic result drive outcome specific to OP's net-net needs. Just don't ask me to double-click on any of that during out next touchpoint because I actually have no idea what I'm doing.
Well now I owe you money, where do I send the check?
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bmks270
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6:47a, 2/3/24
AG
Climate tech is the new oil and gas.

Good luck.

Lots of interest in green hydrogen and sustainable aircraft fuels (SAF) production that might have overlap of skills with oil and gas experience. Not sure what the staying power is for those two industries a decade from now, but right now there seems to be a lot of R&D going on. Might not be a bad move for now to work on for a few years while it's hot.
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one MEEN Ag
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In reply to htown12 • 2:45p, 2/5/24
AG
What do you want to do? Lead operations? M&A? Lead bigger engineering projects than before you were at McKinsey? From those I keep up with, the general theme is that supermajors are coming out of big staff cuts, and trying to squeeze production out of the current headcount. Good projects are a game of musical chairs right now.

OFS and engineering consulting tend to have a bit more 'now hiring' advertising for technical roles. Arion Blue is a great company that is currently hiring.
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htown12
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In reply to one MEEN Ag • 8:50a, 2/6/24
I would say lead operations and one day own a P&L super generic I know but I realized the job stability comes from owning or growing an asset.

Problem with strategy consultants is that it's all so conceptual that they have a hard time moving into those kind of roles. So I think at this point whatever gets me as a stepping stone there. I don't think i can reasonably find a job that will put me on a direct line management position without having to take a step back first.


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htxag09
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10:20a, 2/6/24
AG
I'll say that I'm at an E&P and it's tight right now. We can hire replacements, but other than that are in a hiring freeze.

I think most are looking at relatively flat projections and with cash flow being king, aren't expanding teams. Add in the M&A going on, potential layoffs for redundancies, etc.
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one MEEN Ag
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In reply to htown12 • 10:24a, 2/6/24
AG
I think you might be hard pressed to find a rewarding strategy consulting job in oil and gas. The playbook is pretty much written: Get oil out of the ground for lower cost than the next guy but have similar labor, material, and expertise constraints. From my friends who are involved in strategy meetings at supermajors (as the lowest level of peons) the projects that are getting greenlit are obvious, the ones that aren't are also obvious. It doesn't require too sharp of a winnowing fork to do.

Now those I know in trading enjoy the strategy associated with that. Even among supermajors there is a wide range of trading depth and strategy and it can be very rewarding both mentally and financially. But, it is long hours.
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Cyp0111
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In reply to one MEEN Ag • 11:33a, 2/6/24
strategy work in trading has a larger universe of opportunities to explore so that could be an option. Sharper environment for sure.
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infinity ag
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In reply to htown12 • 1:33p, 2/9/24
htown12 said:
Looking for some advice. I worked as engineer in upstream o&g for a decade and then started working for McKinsey after getting my MBA. Been here just over 2 years and would like to get off the 4 day travel weeks for my families sake.

I've noticed that the hiring into oil and gas companies is almost nonexisitant so I'm starting to wonder what else I can do and looking for ideas.

Wow, McK, pretty impressive! Top management consulting firm.

However, I see that they may be having trouble. I saw a report that they are trying to get rid of 3000 consultants saying their work isn't good enough.
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infinity ag
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In reply to htown12 • 1:35p, 2/9/24
htown12 said:
Haha I am just as surprised as you are.

Also on comp agreed am looking for a lot less but offset by an increase in WLB.

It may just be the phase of the economy right now. Not many are hiring and many are looking. But McK is really good for the resume. I think you should be patient and look to make a move only when the eco settles down more.
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