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N_ergy trader's picture

Maybe not the best time to take a banks FT offer?

by N_ergy trader (Chimp, 0 Banana Points Points) on 9/14/08 at 11:35pm

I see that this topic has been touched on before but...I currently have a commodities trading related offer from one of the large energy/oil companies and with one of the large banks which has faired well thus far. I'd prefer to go with the bank which offers better compensation and a greater range in opportunities but with things so shaky right now, are the benefits of Wall Street worth the risk? Maybe this isn't the best time to be betting my future on an industry in distress right now if I don't have to. I’m not looking for a miracle answer here, but if anyone has an opinion I'd be interested in hearing it.

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xqtrack's picture

go to the bank

by xqtrack (Senior Baboon, 191 Banana Points Points) on 9/14/08 at 11:50pm

go to the bank

aachimp's picture

don't listen to xqtrack. i

by aachimp (Gorilla, 547 Banana Points Points) on 9/14/08 at 11:54pm

don't listen to xqtrack. i would seriously consider the oil company. unless the bank is gs, barclays, rbs, or some other bank which hasn't been cut open by subprime, i would go with the oil company. i think you'll have plenty of opportunities to jump to a HF after the oil company gig.

Hephaestus's picture

Do people always forget JPM?

by Hephaestus (Senior Monkey, 67 Banana Points Points) on 9/15/08 at 12:54am

Do people always forget JPM?

aloki's picture

Jamie Dimon won't think

by aloki (Baboon, 147 Banana Points Points) on 9/15/08 at 1:46am

Jamie Dimon won't think twice about fucking you over.

bearing's picture

You can throw the

by bearing (Orangutan, 251 Banana Points Points) on 9/15/08 at 1:56am

You can throw the compensation reason out the window. They will be depressed even going forward as investment banks will by extremely more risk averse in the future.

trade4size's picture

Energy companies have better

by trade4size (Senior Gorilla, 775 Banana Points Points) on 9/15/08 at 1:55am

Energy companies have better traders than banks. Take the energy trading offer.

Devils Advocate's picture

I would prob go to the

by Devils Advocate (Orangutan, 317 Banana Points Points) on 9/15/08 at 2:17am

I would prob go to the energy company...I am honestly reconsidering this Wall Street shit...

N_ergy trader's picture

Thanks for the advice

by N_ergy trader (Chimp, 0 Banana Points Points) on 9/22/08 at 1:31am

Thanks for the advice everyone. The bank is one of the above mentioned and there are really no concerns over it's continued existense. However, under FERC guidelines, a commercial bank or related company isn't even allowed to hold physical energy assets which most of the BB's do leading me to believe that commodities (and quite possibly S&T as a whole as a result of upcoming regulations) will be downsized in the near future. These groups have generally been profitable parts of the bank though so I can't imagine they would simply be dissolved; maybe sold or spun off. The offer is a rotation through commodoties after partaking in the regular S&T training program which I really like the idea of because I'm not well versed in finance and would like to learn more about markets in general. With all the unknowns though, it just may not be worth the risk anymore.