Switching career from a specialized engineering discipline like Petroleum Engineering

[BSMech->MSPete]

We all know about the massive layoffs by oil & gas companies in the wake of the recent oil price drop. This has ostensibly left a lot of engineers, petroleum engineers in particular, in a tight situation since the industry that they are specialized in does not have a good job market right now.

I will be pursuing an MS in Petroleum Engineering at Texas A&M (My undergraduate degree was in Mechanical Engineering). In light of these layoffs and my plans, I had a few questions which I would appreciate your input on:

1- Are there any other industries that hire/would accept petroleum engineers?
2- How easy is it for a petroleum engineer to switch to career in another discipline? (examples would be nice)
3- What are some other engineering careers that petroleum engineers can easily switch to?

And a more general question: Most engineering disciplines are cyclic in nature. What options do engineers have when they can't find jobs because the industry they specialize in has gone into a trough?

[reservoirengineer]

I think it come down to where you are from. Citizenship and work eligibility is important.

Normally high cost countries like in North America, Europe suffered from the industrial downturn. Those who lost jobs were mostly from the service companies. On the other hand low cost countries like Asia or some other parts of the world got less issues since there is low OPEX/ bbl cost to produce a barrel of oil.

IF you have some years of experience in the oil business, it is possible to switch your career into a consulting business (but you might need MBA) or investment banking careers.

That is all I can think of. May be others will give you more advice.

We all know about the massive layoffs by oil & gas companies in the wake of the recent oil price drop. This has ostensibly left a lot of engineers, petroleum engineers in particular, in a tight situation since the industry that they are specialized in does not have a good job market right now.

I will be pursuing an MS in Petroleum Engineering at Texas A&M (My undergraduate degree was in Mechanical Engineering). In light of these layoffs and my plans, I had a few questions which I would appreciate your input on:

1- Are there any other industries that hire/would accept petroleum engineers?
2- How easy is it for a petroleum engineer to switch to career in another discipline? (examples would be nice)
3- What are some other engineering careers that petroleum engineers can easily switch to?

And a more general question: Most engineering disciplines are cyclic in nature. What options do engineers have when they can't find jobs because the industry they specialize in has gone into a trough?

[reservoirengineer]

I think it come down to where you are from. Citizenship and work eligibility is important.

Normally high cost countries like in North America, Europe suffered from the industrial downturn. Those who lost jobs were mostly from the service companies. On the other hand low cost countries like Asia or some other parts of the world got less issues since there is low OPEX/ bbl cost to produce a barrel of oil.

IF you have some years of experience in the oil business, it is possible to switch your career into a consulting business (but you might need MBA) or investment banking careers.

That is all I can think of. May be others will give you more advice.

We all know about the massive layoffs by oil & gas companies in the wake of the recent oil price drop. This has ostensibly left a lot of engineers, petroleum engineers in particular, in a tight situation since the industry that they are specialized in does not have a good job market right now.

I will be pursuing an MS in Petroleum Engineering at Texas A&M (My undergraduate degree was in Mechanical Engineering). In light of these layoffs and my plans, I had a few questions which I would appreciate your input on:

1- Are there any other industries that hire/would accept petroleum engineers?
2- How easy is it for a petroleum engineer to switch to career in another discipline? (examples would be nice)
3- What are some other engineering careers that petroleum engineers can easily switch to?

And a more general question: Most engineering disciplines are cyclic in nature. What options do engineers have when they can't find jobs because the industry they specialize in has gone into a trough?