New Grad - Masters Economics

[Superdooper]

Hi what should a new grad with a masters degree in economics and a few o&g summer terms expect in terms of a base salary from a big oil and gas company in finance (ie. Shell)? Is 60-70k okay or above average?

Thanks

[sabad66]

I would say 70k to start with a masters in economics at one of the supermajors. If it was a masters in engineering or geoscience, probably 75.

[Manhattan]

Curious what kinda jobs are available for someone with a masters of economics?

[themack89]

Originally posted by Manhattan
Curious what kinda jobs are available for someone with a masters of economics?

Prime Minister of Canada

[KRyn]

A very good friend of mine got offered just shy of $100,000.00 starting before leaving to do her masters in economics by a large oil and gas company. Although she is doing her masters program at the UofT and is incredibly bright.

[themack89]

Originally posted by KRyn
A very good friend of mine got offered just shy of $100,000.00 starting before leaving to do her masters in economics by a large oil and gas company. Although she is doing her masters program at the UofT and is incredibly bright.

What was the job for? That high for an entry level salary I'm almost sure it would be the trading desk lol.

[Thomas Gabriel]

It's unlikely you will be hired at Shell with a masters in anything. They don't like paying people for education that they won't need. And they don't want to insult you by paying you the same as any commerce grad. I'd look into a smaller company like Suncor or Talisman that will have econ teams in Calgary and don't have as standardized of a hiring process as Shell. Look for job postings that ask for a Finance MBA and pitch the MA Econ. CFA Level 1 would help if you want to do finance rather than econ.

[M.alex]

Originally posted by Manhattan
Curious what kinda jobs are available for someone with a masters of economics?

OWS Protester?

[Superdooper]

Originally posted by Thomas Gabriel
It's unlikely you will be hired at Shell with a masters in anything. They don't like paying people for education that they won't need. And they don't want to insult you by paying you the same as any commerce grad. I'd look into a smaller company like Suncor or Talisman that will have econ teams in Calgary and don't have as standardized of a hiring process as Shell. Look for job postings that ask for a Finance MBA and pitch the MA Econ. CFA Level 1 would help if you want to do finance rather than econ.

I have already been hired, I just wanted to confirm if the salary was a competitive entry level salary. In this day and age, I should just be happy to get a foot in the door :)

[Maybelater]

Economics might seem like a typical useless LA degree, but from what I have gathered it is a pretty useful degree in the business world.

[badatusrnames]

Originally posted by sabad66
I would say 70k to start with a masters in economics at one of the supermajors. If it was a masters in engineering or geoscience, probably 75.

More like a B.Sc. in Engineering or Geology.

[KappaSigma]

Originally posted by Maybelater
Economics might seem like a typical useless LA degree, but from what I have gathered it is a pretty useful degree in the business world.

Ive heard and seen otherwise. Economics is a useless degree.

[sabad66]

Originally posted by badatusrnames


More like a B.Sc. in Engineering or Geology.
Really, new grad engg/geos are making 75 out the door in Calgary at the supermajors? Base salary?

[dirtsniffer]

it's base salary for my company.. too bad I'm still an intern. :nut:

[sabad66]

Yes but you're working on site, right? Definitely expect a premium for that. I'm sure new grads in Fort Mac are in the 80s.

[badatusrnames]

Originally posted by sabad66

Really, new grad engg/geos are making 75 out the door in Calgary at the supermajors? Base salary?

Not Supermajors, any Oil & Gas company really. That's market rate.

Source: My paycheck. I work downtown.

[dirtsniffer]

count mining in as well. small town life, big city paychecks :D

[sabad66]

Hmm interesting - I guess it varies quite a bit. 75 base is definitely on the higher end.

[Mar]

How did you get a job straight out? My girlfriend graduated top of her class at University Of Calgary with a Masters in Economics and works at the bank doing loans. She's been looking for an oil and gas job for months. I'm guessing having Zhang as a last name doesn't increase your odds of getting hired too well.

[KRyn]

Originally posted by Mar
How did you get a job straight out? My girlfriend graduated top of her class at University Of Calgary with a Masters in Economics and works at the bank doing loans. She's been looking for an oil and gas job for months. I'm guessing having Zhang as a last name doesn't increase your odds of getting hired too well.


O&G is all about who you know, what you know happens to be a bonus.

[realazy]

Originally posted by sabad66
Yes but you're working on site, right? Definitely expect a premium for that. I'm sure new grads in Fort Mac are in the 80s.

People with location bonus almost clear 100k off the bat. Usually it's 20-25% bonus on top of the base salary.

[KRyn]

Originally posted by themack89


What was the job for? That high for an entry level salary I'm almost sure it would be the trading desk lol.


She was forecasting for a major O&G company before she left to the UofT. They attempted to make her an offer she couldn't refuse i.e 100k++ in hopes of her returning after completing her school at the UofT.