MBA for oil & gas engineer

[Perceptionist]

I know there are several MBA threads already on here, but I'm hoping to get some more specific feedback on my situation. My experience is ~4 years as an engineer at a small private oil company, working in a role with a variety of responsibilities (completions, evaluations, reserves, development). Given the recent price collapse and capital position of my company, it is a likely possibility that I will be laid off in the new year.

I have really enjoyed my exposure to the A&D/evaluations side of the business but believe it will be very difficult to find a position in 2015 without a significant turn around in market conditions. It would be my preference to ultimately end up in a management role over a technical role and would like to stay in the O&G industry if possible.

One option I have been looking into is starting a full time MBA in the fall. I'm interested in hearing some opinions on whether this would be a beneficial career move or a waste of resources. I would like to stay in Calgary, so Haskayne would be the school of choice here given that I would be paying for the program myself.

Will an MBA put me in a better position to advance and find a role when the market recovers in Calgary?

Would I be better off to take whatever job I can get to weather the storm instead of dumping money and time into another degree?

[blitz]

I've spent a lot of time in the A&D/evaluations side of the business and my past work experience in operations and development were the things that was most beneficial to me.

My feeling is extra experience and a firm grasp on the core operational/reservoir side of things will have more impact than a MBA. I've never worked for someone with a MBA either, but I've generally been on the smaller company side of things.

[realazy]

The MBA thing has been discussed within my circle quite a few times lately. At the company I work at (large cap o&g major), there's not that many managers with MBAs. However, with the younger crowd there's more push to get MBAs and often times they are paid for by the company.

I'm sure we all get the speech that with the retiring baby boomers, there'll be lots of upwards mobility in the next 10-15 years. An MBA would not hurt in any situation, and may ultimately be that one thing that gives you an edge.

I'm not sure if I would take it full time while off work, the financial impact of that decision is huge. I would continue looking for a job and hope for the best, hopefully switching to the part time program when you find a job or put it on hold altogether.

[killramos]

I think you should focus on what the core curriculum of the MBA is and if you think the skills you learn will be useful to you.

Getting it just to get a better job with another company etc. doesn't seem like a great strategy to me. Especially if you are planning on paying for it yourself. Good chance it wont pay out.

Use it as a litmus test for upward mobility at your company if you want. For example ask for a promotion to manager, if they don't think you have the relevant skills then ask them if they are willing to let you attain those skills ( IE get an MBA). If they still deny then i think you can see the writing on the wall :dunno:

That's my plan anyways, once i am in a position similar to yours.

[Perceptionist]

Just to be clear, I am looking at the full time program as a 'plan B' right now if I lose my job and am unable to get an engineering role at another company. The longer oil stays at $55/bbl, the more likely this possibility becomes. I would definitely transition from full time into part time if I found a job before completing the program.

I can't really use my company as a litmus test. We are basically as small as it gets on the E&P side, so there aren't really any managers or positions to be promoted into.

[Pacman]

My wife worked as a resevoir engineer and wanted a change. She did her CFA designation and now works in M&A for a large O&G producer. It might be an option to consider as it was much less expensive to do vs an MBA and she studied during evenings/weekends.

[JustinL]

Keep in mind that grad studies is counter cyclical with the economy. It's harder to get in when everyone in your position has the same idea.

If you are interested in it, go for it and remember there's nothing magical about the three letters. They just prove you have a base level of knowledge and an ability to learn. It is hard work, but also pretty fun.