I would go with Alvarez simply because consulting is a much more interesting job for me over financial analysis. I also have no interest in energy. That being said, that's how I feel and as such you might have a different outlook than I do. Money wise BHP is better now and future for you. Consultants actually don't really make that much compared to some other industries in finance.
This is true, but we can fly to Ecuador, Iceland, and Barbados three weekends in a row...for free :grin:
The consulting job will not pidgeonhole you into a finance position. It's better to position for an MBA later
FWIW, when I got an offer from Alvarez back in 2007, I feel like they low-balled me on salary. Not sure what they're offering now, but keep that in mind.
The consulting firm sounds like it'd have more cache for your resume. Some energy companies, a lot of the managers and up are field guys who just networked and worked they up over 10-15 years, and they'd probably look down on you for your age and for not understanding ops.
*this is coming from someone whose industry is from the stone age Get a foothold in the energy sector!
Ok. I don’t want to derail the thread but I’m in a similar situation and I don’t want to start a new thread. I currently work at a large corporation. The division I work in is not O&G but the company does also work in the O&G sector. Due to internal politics and lack of exposure to the other division its very improbable that I’ll have an opportunity to move into the O&G division of the company. I’ve received an offer from a small auditing / consulting firm that services the O&G sector. I’ve worked in this capacity previously. Unfortunately the offer was only a marginal raise in salary (which my current employer will end up matching due to the end of the year increase) the benefits are less since it’s a small firm. I’m meeting with them again tomorrow to gather more information about the proposed role (travel frequency, travel locations, customer accounts I’ll be supporting etc..) and also I plan to discuss the offer (I’ve yet to accept) I’m under 30, I have no kids but I live with my GF. My current job requires no travel and requires very little effort on my part to excel. Unfortunately I’m not learning, I’m bored and I’m lost in my cubicle. The new job will require a lifestyle change (travel during the week) which means I’ll be sacrificing my free personal time in which I can spend with loved ones and friends but I think it will also offer more exposure, networking opportunities and experience. Opportunity for growth within the small firm is very limited due to the size of the company and the business model. What do you guys think? How much should I request in salary to compensate me for the risks I’ll be incurring (including reduced risk)? Is there an industry standard for making this type of move?
Also in my interview with the partners they asked me how much i make and i told them the truth. Don't have much experience negotiating so i committed this error. I believe that is the reason why the offer was only 4.7% more than what i currently make. But when you're in the low 70s...4.7% makes little difference.
Back when I did investment banking (financial restructuring) we worked a lot both with and across from A&M. They are definitely top notch when it comes to restructuring and I would highly recommend them. Not sure if A&M consulting is something entirely different though.
First, for the OP. BHP, from what I've heard, is a great company. An ex of mine has worked there for almost 10 years and loves it. One thing, in regards to the benefits, I always look at is the retirement offered. Some things to look out for: 1) Is there a 401k match? For most companies this is a yes. Be careful because a lot of times they'll say something like "we match 8%, up to $2,500)" well that's great, but if you make $70k, them matching 4% would be enough to reach the limit of $2,500. Finding a place with no limit isn't a deal breaker, but it's definitely something that can make a difference, especially when you're torn between companies, and one has the limit and the other doesn't. 2) Is there some other type of defined benefit plan? Some examples would be a pension plan, profit sharing plan or what a lot of employers simply call a "retirement plan". Unfortunately these are few and far between, but if you can find someone offering this, IMO, they're defintely someone worth looking at. These defined benefit plans are 100% funded by the employer. They will take a percentage (I usually see 3-4%, but obviously it will vary) and deposit that amount into your account each year. You don't have to contribute anything. 3) How long will it take for you to be fully vested in the plans? At some locations you're immediately vested, others it takes 3 years, others up to 5 years. Some places may say it takes 4 years, but instead of saying you're 100% vested after 4 years, you'll be 25% vested after each year. Obviously this is beneficial, but even more obvious is that the best you can hope for is a job that offers a matching plan where you're fully vested from the start. Obviously you shouldn't base your entire decision off of this, but if you're torn between companies, this is definitely something that could help sway your decision. It sounds like you're going to be losing a lot of personal time for a 4.7% raise, correct? But your current employer will be matching that raise at the end of the year? So truthfully, your only reason to leave is to expand your horizon and possibly do something you enjoy a bit more. If you want to leave Since it's too late to "lie" about your current salary, I think the best you could do would be to come back and say your present company has offered to match (or beat the offer by a small amount, maybe 1-2%) and see if the new company will bite. Or you could just say they offered to match, and give you an extra week of vacation. Tell the smaller company that you really want to work for them, and that if they'll make you the same offer, you will accept it. If it were me I would stay put. Even though you're not too happy with what you have now, you don't seem all that thrilled with the opportunity either. Just stick with what you have now and start looking for something you know you like and want. I'm not a big fan of traveling for work, mostly for the reason you listed. I don't want to lose personal time and be away from my friends and family. I'd hold out for the right job. Make sure I like the work, the location, the comensation and the benefits. You're going to be doing this job a lot, so even though it may be difficult, I think it's important to wait it out until you find exactly what you're looking for. Or at least, wait it out as long as you can. Anyway, good luck to both of you!
I almost posted in this thread last week, but didn't want to jinx it, but now it is official: My wife, who will be graduating in December from UH (Bauer) just got an offer from BHP. Not going to name figures, but the salary they offered her was 25% more than her or I were expecting! I guess I feel good now that the $30K I just paid over the last 3 years for her UH degree is going to pay off. The only downfall is she will be commuting from Magnolia to The Galleria every day. UGH! The hell if I will ever move back to Harris County. I guess beggers can't be choosers though. Very proud of my wife. At 41 (soon to be 42), she busted her ass the last 3 years to finish a degree she originally started back in 1989. On top of that, she is going to graduate c*m Laude and has been on the Dean's list all 6 semesters at Bauer.
Congrats man. My wife is about to graduate with her masters next month too. Yay for more money for us to buy toys.
