Description: Bulge bracket banks are those that you think of when someone mentions big banks, consisting of the likes of Goldman Sachs, Morgan Stanley, JP Morgan, Bank of America, Citi, Barclays, and other similarly sized banks. Working here would mean working in a financial advisory role on both sell-side and buy-side transactions. You could be placed in a coverage group that could be focused on Power & Utilities, or Energy Transition which a lot of banks are starting up now. The only risk with this path is at some banks there is no guarantee of which coverage group you will be placed on, but regardless of that you will gain amazing transaction and deal experience and dive headfirst into the world of finance.

Pros: High compensation, prestige, involvement in major transactions, extensive training and professional development opportunities.

Cons: Long working hours, high stress, highly competitive environment, potentially less exposure to specific energy niches. Leading Firms: Goldman Sachs, Morgan Stanley, JP Morgan, Bank of America, Citi, Barclays.

Timeline: Sophomore year Spring Semester starting in February and going until the end of the summer for a lot of banks. Ideally, you should have an offer by March/April timeframe and should begin networking the semester prior, and during the semester as well.

See Process for PE & Infra.

Description: Boutique investment banks are specialized financial institutions that offer services similar to those of bulge bracket banks but on a smaller scale. These firms are typically more nimble and can offer more personalized service. In the context of energy finance, working at a boutique bank might involve focusing on niche areas within the energy sector, such as renewable energy projects or emerging energy technologies. Opportunities in this subsector often include advising on mergers and acquisitions, capital raising, and other financial transactions for smaller or more specialized energy companies. The work environment at boutiques can offer more direct exposure to senior bankers and clients, albeit with potentially less global reach than bulge brackets.

Pros: Specialized focus in energy niches, greater exposure to senior bankers and clients, more flexibility, entrepreneurial environment.

Cons: Limited deal size and global reach, less brand recognition, fewer resources than bulge brackets, longer hours Leading Firms: Lazard, Evercore, Moelis & Company, Rothschild & Co., Nomura Greentech, Marathon Capital, CohnReznick Capital, Javelin Capital, Scotiabank,

Timeline: A lot of energy focused boutiques will recruit a little bit later into the Summer and extend into your Junior Fall as these are typically smaller firms with less resources dedicated to recruiting purposes.

See Process for PE & Infra.

Description: Project finance in the energy sector involves the financing of large-scale energy projects, such as power plants, wind farms, or oil and gas facilities. Professionals in this field work on structuring and managing loans and investments that are secured by the project's assets and cash flows. Opportunities in this area include roles in financial modeling, risk assessment, loan syndication, and project management. This subsector requires a strong understanding of both finance and the technical aspects of energy projects.

Pros: Involvement in large-scale projects, multidisciplinary approach, opportunity for international work.

Cons: Transaction complexity, significant risk management, sensitivity to political and economic changes.

Leading Firms: HSBC, BNP Paribas, Credit Suisse, Société Générale., JPM, Bank of America

Timeline: Early spring a year in advance of your junior summer internship, and will go into the summer most likely.

Process: This will follow the timeline for banking and infra investing as this is typically a group within many boutique banks. If you are hoping to work in project finance, it would be ideal to learn a lot about the space (see resources and Currents podcast) in order to show this during your interviews. Most firms will have a behavioral round after an initial resume screen, followed by technical and a Superday for which you must be very prepared.

Description: ESG Advisory and Sustainable Finance are focused on integrating environmental, social, and governance factors into financial services. In the energy sector, this involves advising companies on sustainable practices, green financing, and compliance with ESG standards. Working here might involve roles in consulting, risk assessment, and the development of sustainable investment strategies. Opportunities in this field are growing as more investors and companies focus on sustainability and responsible investment practices.

Pros: Alignment with sustainability focus, diverse consulting opportunities, potential for positive corporate influence.

Cons: Evolving ESG standards, balancing financial and sustainability goals, may be peripheral in traditional finance roles.

Leading Firms: McKinsey & Company, Boston Consulting Group, Deloitte, Ernst & Young., Milken Institute

Description: Impact investing in the energy sector involves investing in projects and companies that generate a measurable, beneficial social or environmental impact alongside a financial return. This could include investments in renewable energy, energy efficiency projects, and community-based energy initiatives. Professionals in this field focus on identifying investment opportunities that align with specific impact goals, performing due diligence, and measuring the impact of investments. Opportunities in impact investing are suited for those looking to blend financial skills with a desire to drive positive change in the energy landscape.

Pros: Contribution to social and environmental goals, growing sector interest, opportunity for investment strategy innovation.

Cons: Challenges in impact measurement, balancing impact with financial returns, limited market scale.

Leading Firms: Bain Capital Double Impact, TPG Growth's The Rise Fund, Generation Investment Management, Bridges Fund Management.