Industry Chat: Energy August 2017

Manisha Jain, Senior Associate Director

Meryem A. Cocciardi, Recruiting Relationship Manager

MBA Career Management

Agenda• Working with MBACM

• Energy Industry─ Introductory Overview

─ Functions, Roles and Internships

─ Alumni profile

• The Job Search ─ Recruiting Strategy

─ Timeline

• Hiring Data─ Offers, Compensation and Sponsorship

• Energy at Wharton ─ Research Center / Professional Clubs

─ Events and Resources

• Q & A

MBA Career Management Energy Team

Career Advice

• Self-assessment & decision making

• Industry Insight

• Networking

• Resumes, Cover Letter & Interview Prep

Corporate Relationships

• Develop employer outreach strategy with RRM

Programming

• Develop programs for students interested in Energy

MANISHA JAINSENIOR ASSOCIATE DIRECTOR

Corporate Relationships

• Strategize best recruiting approach for variety of employers

• Co-manage employer relationships with Career Advisor

• Manage recruiting events

Student Support

• Assist students with logistics of on-campus interview process, job board postings, etc.

MERYEM COCCIARDIRECRUITING RELATIONSHIPMANAGER

Collaborate with professional clubs and research centers, including the Wharton Energy Club and IGEL

Industry Overview

The Energy Industry DefinedInternational Oil Companies (“Supermajors”)

Oil & Gas Field Service Providers

National Oil Companies

Majors & Independents

Oil & Gas (upstream, midstream, downstream)

Power Generation & Distribution

Alternative & Renewable Energy

Energy Related Services

MBA Career Management

Diversified Industrial General Electric, Dupont, DOW, Johnson Controls, Bechtel

Finance (PE, VC, Banking)PE: Blackstone, Hudson Clean Energy, First Reserve Corp.VC: KPCB, Rockport, Khosla, NEABanking: TPH, Goldman, Credit Suisse, MS, JPM, BofAML

Consulting McKinsey, Bain, BCG, Deloitte, Siemens

Policy / Research DOE, Bloomberg, New Energy Finance

Trading Glencore, Shell Trading

Roles within energy subsectors

\\

• Manage and supervise project development and financing, lead planning and deployment of projects, manage customer relationships

• Example: Exelon’s MBA Rotational Program Project Management

• Assignments in areas such as finance, marketing, corporate development/M&A, operations and strategy

• Example: NRG rotation program

MBA Rotational / Leadership

Development Programs

• Develop pricing policies, assess acquisition targets / growth opportunities• Example: FMC Technologies’ Corporate Business Analyst

Corporate Strategy / Development

• Evaluate impact of strategic initiatives and cost saving programs• Perform modeling analysis to support negotiations/transaction execution • Example: Chevron’s Finance MBA Development Program

Corporate Finance / Project Finance

• Market analysis, new product development, sales strategy, customer and competitor analysis

• Example: Opower’s Solutions Marketing Intern Marketing

• Industry competitor research, market entry strategies, sales/negotiations• Example: FTS International’s Business Development Associate Internship Business Development

Cross Industry Functions: Energy related Services

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• Conduct in-depth analyses of critical business issues, conduct client interviews, create executive presentations, enhance client relationships Consulting

• Build financial models, conduct due diligence, negotiate deal terms, draft presentations, secure financing, analyze new investment opportunities Private Equity

• Due diligence, market sizing and mapping, industry research, financial modeling, source new investments meeting w/founders Venture Capital

• Conduct market analysis of domestic manufacturing capabilities for clean technologies

• Implement energy efficiency projects at state and local levelPolicy

• Participate in all phases of transaction: preparing presentations, pro forma modeling/valuation, negotiating sessions, due diligence/closing

• Natural Resources, Power, Infrastructure Groups Investment Banking

Energy Sector Success Stories

• Undergrad: Political Science• Prior to Wharton: D.E. Shaw • Internship: Alinea Group• Post Wharton: Onyx Renewable Partners- Senior Vice President• Currently: VivoPower- Director

• Undergrad: Marketing• Prior to Wharton: Comcast- Marketing Manager• Internship: Dow Chemical Company• Post Wharton: SunEdison- Chief of Staff, currently the Partner Channel Marketing Director• Currently: Tesla- Sr. Manager, Energy Marketing North America

Meghan Gainer (WG14)

• Undergrad: English major • Prior to Wharton: Marine Special Operations Officer, Program Manager at Deutsche Bank• Internship: FTS International• Post Wharton: FTS International- Business Development Associate, currently the Eastern Division

Operations Manager

Jamie Peace (WG13)

Daniel De Boer (WG14)

• Undergrad: Government• Prior to Wharton: Program Officer, US Dept. of State• Internship: Bristol Squibb Myers (Healthcare)• Post Wharton: NRG- Senior Manager, Customer Engagement

Sarah Weidel (WG14)

• Undergrad: Economics• Prior to Wharton: U.S. Department of Energy• Internship: GE Ventures• Post Wharton: Bechtel Enterprises- Associate• Currently: Bechtel Enterprises- Associate

Dan Lee(WG15)

The Job Search

• Developing employer relationships • Inconsistent demand year-to-year• Just-in-time hiring• Less clear on MBA recruiting value prop

Mature & Enterprise Recruiting in Energy

While most Energy industry activity is Enterprise, some large Energy firms follow Mature recruiting processes

MBA Career Management

• Established employer relationships• Annual, steady demand• Extend multiple offers/yield multiple

students• Understand MBA recruiting value

prop

MATURE

• Developing employer relationships • Inconsistent demand year-to-year• Just-in-time hiring• Less clear on MBA recruiting value

prop

ENTERPRISE

Two Strategies = Two Skillsets

MATUREMATURE ENTERPRISE• Navigate unstructured process

and timeline

• Be ready if an opportunity becomes available

• Prepare for multi-format networking opportunities

• Proactively build & leverage network, pitch solutions and employment opportunities

• Travel to companies and recruiters

• Sustain recruiting efforts throughout the year

• Follow structured process and timeline

• Be ready for when an opportunity is available

• Prepare for and attend “formal” recruiting events

• Market your candidacy and differentiators

• Conduct on-campus interviews

• Manage heavy recruiting schedule in fall/winter

Tailor your strategy to the company/roleto ensure recruiting success

Tailor Your Strategy to the Company/Role

MATURE

Ideal for firms that are likely to…

Have an established timeline and process

Recruit Wharton / other MBAs on a regular and annual basis

Travel to campus and host recruiting events

Have dedicated HR/Recruiting staff

Interview on-campus during FRP

Make offers to multiple students

Employ multiple interns from Wharton and/or other schools

ENTERPRISE

Ideal for firms that are likely to…

Hire as needed, when needed

Recruit Wharton / other MBAs sporadically, or are first time hirers

Use more remote or virtual means to connect with students (less likely to visit campus)

Have a small or no HR/Recruiting staff

Interview by phone, web or on-site at company HQ

Make a few or only one offer

Employ one intern from Wharton and/or other school

YOUR STRATEGY

Energy Recruiting Timeline

Interviewing

Sept Oct Nov Dec Jan Feb March April May June

SELF- ASSESSMENT

INDUSTRY / CO. RESEARCH & JOB

SEARCH STRATEGY

RESUMEDEVELOPMENT

NETWORKING

COVER LETTER DEVELOPMENT, APPLICATIONS,

INTERVIEW PREP

INTERVIEWS

OFFER MANAGEMENT

PREPARE FOR & TRANSITION TO

INTERNSHIP

MatureEnterprise

Energy Case Studies

MBA Career Management

Sarabmeet Kallar• Undergrad: IIT, Kharagpur

• Before Wharton: Field Service Manager (Schlumberger), Management Consultant (Accenture Strategy)

• Internship: Sallyport Investments (Family Office, ex-COO Halliburton) – due diligence for OFS deals and developing investment theses.

Zach Goldstein• Undergrad: Princeton University (Woodrow

Wilson School)

• Grad: Columbia Law School

• Before Wharton: Project Development & Finance Attorney (Sidley Austin LLP)

• Internship: True Green Capital Management –deal development and execution team, working on preparing C&I assets for potential financing or sale

Hiring Data

Companies Extending offers: 2014 - 2017

MBA Career Management

Oil & Gas Power Generation & Distribution

Alternative & Renewable Energy / CleanTech

Energy Related Roles

Chevron ConocoPhillipsEnergy Transfer PartnersExterran HoldingsExxonMobilFMC TechnologiesFTS InternationalPetrorio S.A. Sempra EnergyShell Oil CompanyTriangle PetroleumWorld Fuel Services

Exelon CorporationKausai Electric Power NexteraPG&EUGI

Amryis Technologies Bloom EnergyConvergent Energy + PowerCogenraEnergy Pioneer SolutionsEnerNOCEnphase EnergyEos Energy StorageFirst WindInternational Energy Agency InvenergyNRG EnergyOff.Grid:ElectricSolarGrid Storage LLCSungevitySustainXTeslaTerViva BioEnergyTough Stuff

Aquicore Inc.BASF CorporationBraskemCastleton Commodities International Dow Chemical First Reserve General Electric GlencoreHalliburtonIonic MaterialsJohnson Controls kWh AnalyticsKoch Industries Onyx Renewable PartnersOpowerSiemens StemTrafigura Pte Ltd. Tellurian InvestmentsTeslaTrans Gas Electric Trisun EnergyVedanta ResourcesViridity EnergyWylan Energy

Companies Extending offers: 2012-2017

MBA Career Management

Consulting Investment Banking Public & Private Investing

Bain & CoBoston Consulting GroupMcKinseyA.T. Kearney, Inc.

Bank of America Merrill LynchBlackstone Group Credit SuisseCiti Evercore PartnersGoldman Sachs J.P. MorganMorgan StanleyTudor, Pickering, Holt & Co., LLC

Colorado Impact FundDBL PartnersParkman WhalingSallyport InvestmentsSCF PartnersThe CapStreet GroupTrue Green Capital Management

Functional Breakdown of Accepted Energy Offers

* Class of 2016 data

*Preliminary Data as of 728/17

20%

20%

40%

20%

2017 Internships

Business DevelopmentConsulting/StrategyCorporate Finance (Analysis/Treasury)Research

Source of Internship Offers: Class of 2018*Preliminary Data as of 728/17

20%

20%

20%

20%

20% Other

Personal Networking Connections

Wharton Alumni Contact

Wharton Job - Job Posting

Wharton Job - On Campus Recruiting

Timing of Internship Offers: Class of 2018*Preliminary Data as of 728/17

0

0.5

1

1.5

2

2.5

3

3.5

Timing of Full-Time Offers: Class of 2017*Preliminary Data as of 728/17

0

0.5

1

1.5

2

2.5

Internship Salary Breakdown: Class of 2018*Preliminary Data as of 728/17

EnergyMonthly Salary Range $700-$10,00025% Monthly Salary $1,500Median Monthly Salary $3,75075% Monthly Salary $5,000

FT Salary Breakdown: Class of 2017*Preliminary Data as of 728/17

EnergyAnnual Salary Range $115,000-$168,00025% Annual Salary $115,000Median Annual Salary $140,00075% Annual Salary $140,000Median Sign-On Bonus $10,000

Wharton MBA Alumni Survey 2014 - Total CompensationMedian (25th percentile/75th percentile)

2010-2014 2005-2009

Energyn=72

$200,000($162,500/$252,000)

D 18

$202,000($170,000/$347,000)

M 11

Energy at Wharton

MBACM and the Energy Club

WHARTON ENERGY CLUB MBACMEmployer Relationships• Industry relationships and firm

knowledge• Identify job opportunities• Facilitate employer-student

relationships

Skill Development • Job search skill workshops• Resume reviews • Mock interviews

Advising• Self assessment tools• Support in setting priorities, job search

planning, etc.

Career related resources• Career Treks (Bay Area for

renewables, Houston for O&G, NYC for PE)

• Annual Conference• Energy Thursdays (speaker series)

Skill Development • Field Trips (e.g., PA wind farm)• Technical workshops (e.g. oil & gas

modeling)

Advising and Mentorship• Student mentoring• Access to Wharton Energy Network• Alumni Happy Hours

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Energy Club Resources are Robust in All Sub-Sectors

Oil & Gas

Career & Education Treks

Workshops & Career Training

Power and Renewables

Transportation & Storage

2015-2016 Penn Speakers &

Events

Representative Employers

-Oil & Gas financial modeling-Intro to Oil & Gas PE-State of Oil Markets-Industry tools (Drilling Info, etc.)

-Houston Investment Banking-Philadelphia Oil Refineries-Marcellus/Utica rig tours-Pennsylvania pipeline tours

-CPPIB (O&G Private Equity)-Steven Becker (Chevron)-John Bishop (Morgan Stanley)

-State of Clean Energy seminar-Project Finance boot-camp-Introduction to YieldCos-Access to SNL

-Bay Area Cleantech Trek-Wind farm tour-New York power banking

-Vijay Singh (Nextera)-PJM-ARPA-E-IFC (Solar)

-Storage Panel-Tesla Internship review

-Tesla corporate visit-Fuels case competition

-Lux Research (Storage)-Eos Energy Storage

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2017 Wharton Energy Conference

Currently looking for first-year volunteers!

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Event Description

• Friday January 19 2018• The Union League Club of

Philadelphia• Conference organized along

themes• In 2016 attracted over 300

participants from all industry sectors – Oil and Gas, Power and Renewables, Finance, Consulting and Policy

Audience

• Wharton MBA Students• Wharton Global Alumni• Penn Graduate and

Undergraduate Students • Penn Faculty • Industry professionals • >400 total attendees expected

Next Steps and Resources• MBACM

─ One-on-One Advising

─ MBACM Student Website

─ Career Workshops

• Wharton Energy Club

─ Conference, Treks, Networking, Education

• CareerPath

─ Complete your profile and set email preferences

─ Create saved job searches

• Wharton Community

─ Begin networking with your classmates and 2Y

─ Build a target list of alumni and companies

Read emails from MBACM for important information on upcoming

events and deadlines

CLASS EMAILS

• Friday delivery (typical)

• Deadlines, workshops, and resources

INDUSTRY ALERTS• Sunday delivery

• Based upon industry preference in CareerPath (opt-in)

• Application deadlines, jobs, and recruiting events

ADVISOR EMAILS• Delivery as needed

• Industry-specific advice

• Recommended resources

• Reminders and deadlines

SOCIAL MEDIA

@WhartonMBACM

#WhartonMBACM

How We Will Communicate With You

Upcoming MBACM Workshops

• Sept 5, 6, & 7 Resume Book Training

• Sept 12 International Student Resource Event

• Sept 18 & 19 Navigating CareerPath & MBACM Website

• Sept 25 Networking Formula for Success

• Sept 26 & 27 Developing Your Pitch

- Register through CareerPath -

Contact InformationWharton MBA Career Management50 McNeil Building, 3718 Locust Walk, 215-898-4383

Website: http://mbacareers.wharton.upenn.edu/studentGeneral Email Inquires: mbacareers@wharton.upenn.edu

Manisha Jain, Career Advisorjmanisha@wharton.upenn.edu

Meryem Cocciardi, Recruiting Relationship Manager makam@wharton.upenn.edu

Club President Contact infoZachary Goldstein zachg@wharton.upenn.edu

Manvi Goel manvig@wharton.upenn.eduSarabmeet Singh Kallar skallar@wharton.upenn.edu

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