Commercial at oil and gas
Curious if anyone knows how much people who aren't traders in Supply and Trading but work at oil majors energy suppliers etc. Think risk, optimisation, scheduler etc. What's the salary progression like?
Doubt anyone will know cos the headcount is so low and glassdoor doesn't have much (which is why I'm posting here) but I guess it's worth a try.
Thanks in advance
Depending on experience, 80-175k salary and 25-50% of salary bonus.
Thank-you :)
Do you have any idea what the best paid roles are (obviously more senior= better pay)?
Pay is generally a function of value add and replace-ability. Traders can get big bucks because there’s limited talent available, and the value add is clearly measurable. If you can demonstrate both things in a role outside of trading, it’s possible to make more than what you might think a person in that role makes. You mentioned more operationally focused roles which are more about avoiding mistakes. Those are important. But ones where you bring in revenue or generate valuable ideas have higher upside- outside of traders, this can be business development and analytics. And 7 figures is certainly possible in both.
Thank you.
Its really helpful to learn more about careers when there's not tonnes of info out there.
Are these 7 figures in analytics possible in oil major/commodity houses in London / Geneva ?
I am currently employed as a front office analyst at a major oil company in London. Although the traders and senior staff are highly compensated, the rest of us, including myself and other front office staff (bar Operators), earn decent salaries but nothing exceptional. Unfortunately, receiving pay raises is infrequent, even when switching roles, and our merit is not typically rewarded with financial incentives.
To illustrate, the company experienced a highly profitable year, similar to other firms in the industry. However, the corporate bonus was only slightly higher than the previous year. While I cannot disclose exact figures, the bonus in an average year is approximately 15%. In hindsight, I regret not pursuing a career in banking since my work is similar to that of my friends in sales and trading, but they receive compensation packages that are roughly double mine and steadily increase over time.
It really varies by company. In the US for example, Exxon is known for not paying discretionary bonuses to analysts while BP is. And it really varies by role within the same company, and within the various levels of performers in that role. But generally speaking, individuals in any role are not automatically rewarded just because a company has a record year. If a trader has 0 pnl that year, there is no sympathy bonus for that year. For it to really move the needle at an individual level, the person needs to credibly claim to have been a key driver.
Thanks.
Are there any areas of commercial you would recommend (other than trading) and how able are you to become a trader?
Typical path at an oil major is to rotate around a few 'tick box' roles such as Risk, Market Analysis, Operations etc. Then sit the internal trader assessment, BP for example have the ATC (assessed trader course). Ensure you pass that else the chance of you trading at said firm will be precisely 0 and you would have to leave and try elsewhere.
In terms of non-trading front office roles I'd recommend a firm that places all the front office staff in the front office bonus pool and then perhaps market analysis or operations/scheduling would be enticing. Equinor do this along with RWE, that's the only way ~50% bonuses are possible else you'll be working the long hours for a meagre 10-20% corporate bonus.
so you are in a front office but non-trader role?
Yes, these roles include: Operators, Market Analysts, and Trading Analysts.
I had been out of the business for a while, just got back in two months ago. I am now a scheduler at a producer, we have a robust trading team etc. My total comp is around 150k, I am the lowest paid scheduler on my team.
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