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Successful commercial banking exists?
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They’re really two different sides of the business.
From the corporate banking side, assuming your are working for a bank, and not the firm directly, you are more focused on debt structuring, on behalf of your bank to Oil & Gas Companies. This can be lucrative as the dollar amounts of the lending that these companies can range between $10MM to $1b. So you would likely be working in middle market to commercial banking. Hard roles to get into, and you typically need to start at the bottom as an analyst and work your way up to relationship management, then to leadership.
For FP&A, you are more partnering with Oil & Gas Companies to assist them with market analysis, and overall project management and sustainability of the project. Your focus will be more serving as an intermediary between the Company and Lenders, to a degree. You are kind of more a consultant, so you would work for one of the large consulting firms that specialize in Energy. This can also be very lucrative, but again, you would start on a team as an analyst, then grow to team leader.
Both pathways have the opportunity to pay you well. The question is, which side of the business excites you the most. If you prefer a stable role, without a ton of variability or travel, go commercial. If you want to be in the action, partnering with different Companies and traveling, go FP&A.
Another way to view it is long term, would you eventually like to work for the firm directly, in-house. The advantages of being in-house are job security, in-depth knowledge of the firm, potential equity compensation, and a more regular work schedule. From the Commercial side, you would likely end up working in a Finance capacity. From the FP&A, you would likely end up working in an Operations capacity.
Both good career fields, but also think beyond the curve. Oil & Gas are not going to go away, however the World is transitioning closer and closer to net carbon neutrality. This may not be true in this Administration of Government, but the Energy Industry is run based on Global Demand, not National Demand.
Best of luck to you!
Cheers!