Some really good advice here, and it's almost like a 50-50 split vote. A little more information, both companies are HUGE, ~80k employees, so that's not much of a concern at this point. Keep the comments coming. It's really helpful. In the long term I think that the consumption for oil and nat gas is going to continue to drive prices up. So I'm inclined to try to get into trading. In terms of career growth, I know that once you're in corporate finance it's difficult to get onto the trading floor for an energy company. And trading is the kind of area where you start off learning about the business and operations for a few years before you can start building your book. So the upside is definitely there.
If you actually asked people which offer to accept, you asked the wrong question. You can ask which city is more enjoyable, how the remuneration compares, the future outlook for each industry, the potential career paths... etc etc Asking others which they'd choose should not provide much helpful advice. You're making a fairly major lifetime decision which should be based on your unique preferences and skills.
Tell the guys in Houston that you are considering two offers at this point, and that the other offer is Pay: $113k base + $8.5k signing + $15k relo + stock options, "in another state, which also is a great place to live". However, based on personal fit, career perspective, yada yada tell the guys in Houston you would really prefer to sign with them, all things being equal - however, right now, there is quite a big difference in the package. You'd even be willing to sacrifice a bit of money to sign with them, but the difference in the package is a bit steep right now, and if they could consider making their package a bit more competitive to the other one in terms of salary and benefits - then you'd go with what your heart tells you. If they really want you, they should go up a bit with their offer, and then I'd take that one, based on what you told us.
Good call. This is exactly what I did this morning. I told the HR rep that I loved the job and really liked the people, but the compensation package wasn't commensurate with market rate. She is going to get back with me later in the week.
Keep in mind, you are asking people from a Houston based message board. Their views will be swayed, and keep in mind that many of them haven't been out much to see other beautiful cities. It is hard to compare two things when you know nothing about the other. I don't know many people from Houston who have moved out to the west coast who would ever move back to Houston unless it regarded a lower cost of living or family reasons. There is something to be said about having good weather, clean air, less crime, and a nice beach to go to every once in awhile.
If you can handle the cost of living in San Fran then you will enjoy it there and there is a lot more opportunity on the west coast. It's gonna be a change and you have to really adjust to the lifestyle and cost. Basically Home and Gas are going to be that much different than here. If you want something relaxing and you don't have to worry about and want to live like a baller than stay here in Houston. Your money will go a lot further than in San Fran but of course the location is know where close to the west coast. 115 in San Fran is probably in the 80's in comparison to Houston but like i said you will have a whole new atmosphere that you just don't have here. I go there about 2 times a year for business and enjoy it all the time. You should also check out those relocation/cost of living calculators they have online. They can be really helpful just to get a gauge.
curious. why do you think tech as an industry is going down versus energy? FYI, I live in SF and work in finance in Silicon Valley. I also worked in energy investment banking in Houston for a while so I've also done the Texas thing. As a lifestyle personal preference, the Bay Area, with it's emphasis on outdoors activity, culture and other aspects, more than compensates for any bump in cost of living. You can't buy happiness... and as a single person, I think with your salary range, you could be very happy here. On the other hand, trading and corp fin are two very different things, so I think in terms of weighing the two offers, ask yourself which career path you will find most rewarding. If you do something you don't enjoy, especially in finance, you'll burn out pretty quickly. Cheers, and good luck.
This seems like a nice problem to have... Congrats on your job offers, they both sound great, and I'm sure deserved.
I think differently than many people (duh)... When I was in my 20's, I was about working my butt off for the most money I could make, so I could save/invest and then goof off in my 30's and 40's. lol. If it were me, I'd have gone with the Houston job offer or tried to have them up the offer. I would've said to myself that California is beautiful, but beauty doesn't provide me security... unless I'm a super model... or something like that.
I thought differently than you, Dr. I worked my butt off in a tough industry coming out of college for a sizable chunk of money -- and realized that there was no guarantee I was going to reap the rewards by having fun in my 30s and 40s. Behaviors and habits are hard to change, once you settle into them. So I quit, took stock of what I wanted and how I wanted to have my work/life balance pan out, and did some awesome stuff that only a twentysomething can really do (like travel for over a year, backpacking through some pretty awesome places, found a start-up and failed, got some writing published, etc.). Ultimately, I landed on my feet in my late twenties, in the industry that I love and have found that my earlier experiences to really affect the way I enjoy and think about life now. It's not for everyone, but I definitely would weigh the decision between the two mantras: 'save now and play later' versus 'live in the present and plan later'. It also depends on whether you plan on settling down.. that limits the types of things you will do later in life. Ultimately, it's up to how you want to life to play out and the level of risk/reward that you have.
I vote Houston I turned down a job offer in the Bay Area (San Mateo). I'm still only an undergrad but they were only offering me 65k + bonus. They were thinking about relocating me to Portland after a while and I wouldn't be able to live there either. It was a pretty easy decision actually Only reason I stayed in Texas in the first place was to end up living here
If you decided not to take the Houston Job, can you tell me which firm and which position is it? I think I might be qualified for it and wouldn't mind the 90K at all Seriously
Congrats on the MBA. Some pretty good advise here. Ignore the money. Seriously. That's plenty to live on in San Fran. And the money's comparable. Focus on the company you like best; the oportunities it will offer you -- money 10 years in is much more important then your starting salary, if that's your thing -- and lifestyle. Once you're established in Houston it will be much harder to make the move to San Fran. So if living on the West Coast is something you'd like to do...and the job looks good...go for it. You can always move back to Houston. I'm biased since San Francisco is easily one of my favourite cities. But if it holds no interest to you...and the Houston job gets you into the industry you want, then that makes more sense to you. Our community is growing up...it seems like only yesterday a Baqui post was about just one thing.... and you know the rules --- gotta tell us your decision or be stickied and hounded for ever.
