Oil and gas together make up one of the core industries in today’s world. It has been instrumental in shaping the world as we see today. As one of the six core industries, oil and gas has many opportunities that are waiting to be grabbed. The newer generation of professionals – both MBAs and engineers can leverage the opportunities in the ever-growing oil and gas industry.
So, even though there are numerous MBA branches to choose from – why should anyone pursue MBA in Oil and Gas Management? A country’s economic growth is highly dependent on the oil and gas sector. Considering that India’s economy is booming, a career in this field only makes more sense. There will always be a requirement for energy, and it’s currently on the rise.
Are you confused about selecting from the top MBA branches? Here are 5 reasons why pursuing an MBA in Oil and Gas Management can kickstart a career.
- The Demand is Phenomenal
Not just India, Oil and Gas industry is among the biggest ones in the world. Be it petroleum, natural gas or renewable sector, the consumption is rising and is estimated to rise at 5 percent or more every year. According to the data collected by the Petroleum Planning and Analysis Cell (PPAC) India, the consumption of petroleum products has increased from 12.9 MT (million tons) in 2014 to 15.2 MT in 2015. The increasing trend is sure to increase demand for professionals over the years to come.
- Lucrative Salaries
Oil and Gas is one of the highest paying industries in the country. Just as you finish your MBA, you are likely to get placed from the university itself. As a fresher in the industry, expect a salary of around 6-8LPA. The package offered is more than what other MBA branches offer. So, from a salary point of view, oil and gas management is a highly lucrative branch.
- Interesting Career Path
Without a doubt, there are many job opportunities in the oil and gas sector for management professionals. However, the career path is also exciting. Not only is MBA oil and gas management a highly versatile field of study, but professionals can also choose different paths in their career. Students can choose their own career path after pursuing MBA in oil and gas management. From operations to management, finance, sales, purchase and marketing – an oil and gas management professional is equipped to work in all domains.
- Lots of Learning Opportunities
Working in the oil and gas industry offers many learning opportunities. Since the oil and gas industry primarily has Fortune 500 companies, the exposure professionals get through their job is more than what they would anywhere else. Also, the functions are diverse, and MBA students work on numerous domains. There are also chances to work overseas that leads to a different kind of professional and cultural experience. Students are free to choose their career path and can learn a lot through the oil and gas industry. It gets more exciting when one day the work in on-site while the other day it’s on the desk.
- Stable Industry
Since oil and gas industry is a core industry, it is highly stable as far as career goes. The demand is evergreen, and people who get into the industry often work in it throughout their lives. There are also no job cuts or layoffs as one would find in the IT sector. Students who are looking for an exciting yet a stable career would find it with an MBA in oil and gas management. So, don’t be confused about the stability of oil and gas management. It is more stable than other MBA branches.
Oil and gas management is currently one of the most sought-after courses in not just India but the entire world. Since the industry indirectly supports other areas of the economy, its demand is certainly going to skyrocket further in the coming years. After pursuing an MBA in oil and gas management, professionals can work with various organisations in the same sector. Not only are there phenomenal job opportunities, but the career path also looks interesting. However, choosing a good university to pursue MBA in oil and gas management will make much difference. Esteemed universities like the Dehradun based University of Petroleum & Energy Studies (UPES) are known for their MBA in oil and gas programmes.