38 yr old commodity trading program
Im 38, I got a masters from an Ivy League a couple years ago. Got recruited to apply to the 3 yr BP trading grad program (HTX or CHI). I have built my own side business in oil and gas have 10 years of experience in product development for the telecom industry (currently pulling in around 300k per year total between the two).
I’m super interested in commodity trading but fearful of going down this path due to my age. Wondering if anyone had any advice. Thanks.
Based on the most helpful WSO content, here are some insights and advice for your situation:
Age Consideration:
Experience and Skills:
BP Trading Graduate Program:
Career Transition:
Financial Considerations:
Networking and Mentorship:
Exit Opportunities:
In summary, while your age might seem like a concern, your background and the structured nature of the BP trading graduate program can provide a solid pathway into commodity trading. Consider the financial aspects and seek advice from industry professionals to make an informed decision.
Sources: Physical Commodities: Shell vs. BP vs. Trading House Grad Programmes, Physical Commodities Trading 2022 Graduate Program Megathread, Advice for a 21-year-old entering BB S&T?, Q&A: I'm an Agricultural Commodities Trader, Correlation between top degrees and a career in commodities
The only thing holding you back is your pride. You’ll have to suck it up and pay your dues at the bottom of the ladder but you’ll be able to climb quickly if you really want it. It’s not an issue of whether you physically can or cannot, more so your will power and whether you want to be peers with a bunch of 22 year olds.
For it to work out, you are going to have to focus on it, those 22 year olds are highly ambitious, probably the best entry level grads in the industry. How important is having your side business to you?
And also be willing to start from scratch, bottom of the ladder. Be willing to do a lot of manual/boring tasks (they rotate their grads as ship trackers, heavier data entry/reporting type analysts). Are you willing to do those things for 3 years and maintain a positive attitude?
Pay will probably drop for those 3 years and maybe 1-2 after. Are you ok with that for potential longer term gains?
Side question- my entrepreneurial activities are upstream in the land ownership/royalties side of oil and gas. I understand well placement, decline curves, and general stuff Landman and reservoir engineers work on. Would this experience be helpful? I admittedly do not have any knowledge currently on what happens more downstream than that, but the recruiter assured me it was fine.
I think it would be useful in very niche circumstances that you may not really run into. Like if you were modeling upstream production (and they likely have models in place already, you may not ever be placed into such a role).
Really the key things to learn are exposure, scheduling, and understanding of how analytics connects to position taking.
If you want to do it, you should. That being said, understand there is a chance you finish the program and are not placed into a trading seat.
That would be a disaster!
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