BP Trading?

Any insight on how BP trading and development program stacks up in terms of comp, lifestyle, exits, etc.?

Comments (67)

  • Analyst 1 in IB-M&A
Sep 23, 2022 - 9:15pm

Got worked like a dog during TDP but imo people aren't as smart compared to peers in banking.  Sure you get some super sharp guys but most leave to shops like Glencore and Trafigura very fast.

  • Analyst 1 in IB-M&A
Sep 26, 2022 - 1:35pm

meaning that the level of talent @ BP sharply drops off after a few years

Learn More

300+ video lessons across 6 modeling courses taught by elite practitioners at the top investment banks and private equity funds -- Excel Modeling -- Financial Statement Modeling -- M&A Modeling -- LBO Modeling -- DCF and Valuation Modeling -- ALL INCLUDED + 2 Huge Bonuses.

Learn more
Sep 26, 2022 - 4:03pm
monty09, what's your opinion? Comment below:

Have you worked at bp before?  Knowing a couple of sharp friends there =/= the overall level of raw talent.  Raw talent at super majors like Shell and BP drops off after the young and hungry go their separate ways.

a couple? I know maybe 75 so a much larger sample size and have worked with BP traders daily for almost 20 years... 

One of the  most profitable oil trader in the world is at BP and not young....  how you can sit there and tell me a 15 year exp BP trader does not have the raw talent of someone young and hungry shows your lack of knowledge on the subject.. want to know why the older traders don't leave? they are making too much money to leave....a book lead at BP makes 5-10mm without taking massive risk.... why does vitol, glencore, traf hire young kids? easy, they are cheap talent who have been trained well... and if they dont work out, they fire....   so many ex BP/shell + ex trade house folks out there then anyone cares to talk about.  I know a good 40-50 people who wish they didnt leave BP after a few years post TDP program 

  • Analyst 1 in IB-M&A
Sep 26, 2022 - 4:20pm

Okay you got me, didn't realize you worked at BP for so long.  But my point still stands: yes the concentration of talent at the top of super majors such as BP is high but compared to places like Trafigura and Glencore it isn't as high.  Yes, those firms do fire juniors but it's not like BP job security isn't that much better.

Sep 28, 2022 - 10:49pm
notJohnA, what's your opinion? Comment below:

Work at bp - agree with Monty. Marcellus is correct that bp has lost some great people over the past 2-3 years, but most are on the analytics side of the business. Have also been able to attract talent too. Some younger traders are very intelligent and if they are not held back, will do very very well

Oct 3, 2022 - 6:57pm
fhfslegacy, what's your opinion? Comment below:

Agree on the Glencore, traf, vitol hiring young grads comment. Also interesting enough I know a trader who works for Glencore who said his biggest regret was leaving BP.

  • Intern in IB-M&A
Oct 7, 2022 - 3:08am

did they not get a trade seat after doing their BP TDP?

Oct 7, 2022 - 10:45am
fhfslegacy, what's your opinion? Comment below:

I dont believe so. Which is quite odd because he became a trader at the next company he moved to (before glencore)

Oct 8, 2022 - 11:08am
marcellus_wallace, what's your opinion? Comment below:

Actually pretty common, the culture does not fit everyone and they used to overhire juniors to some extent. People always say I regret "leaving xyz" moment they hear their buddy landed a huge deal or had the right asset and things went their way. Would not read much into that, many people have also left BP and had great success elsewhere.

For the risk averse, sticking around at BP till they literally walk you out the door best option for sure. Just be prepared to be in more and more meetings as you move up, and not have that much control over your schedule. Versus someone at a merchant who basically can work 7-2 and vacays whenever. Or fund guys who get paid out asap, vs sitting around at BP waiting on their 4 year retention.

  • Analyst 1 in AM - FI
Oct 8, 2022 - 11:17am

marcellus, would you mind expanding on BP culture a little? it is something I have read quite often on this forum and cannot really make sense of it. What is so unique about their culture? also for the other part of your comment, i guess survivorship bias comes into play here

Most Helpful
Oct 9, 2022 - 9:09pm
marcellus_wallace, what's your opinion? Comment below:

Sure, hmm will give it a shot. First off, BP is an origination led firm so no trader is bigger than the firm. At times when an origination deal blows up it impacts the whole desk. Next, as Monty already alluded to the top brass at BP gets paid relative to merchants/funds so therefore unlike other majors there is much less fighting between desk heads, originators at the top (bonus pool is not finite at BP). Those things though are issues you deal with 15 years into your career so not that relevant to the junior employees. 

More relevant to junior employees is the way the firm deals with regulatory risks, IT and in general promotions within. Due to major regulatory issues in the past they prefer traders to stay in their market and sort of expect to become the utmost expert in their market. There is no real centralization of fundamentals and fundamentals models (though this is planned to change) so you have a lot of legacy models that need to be updated/maintained and shared. Further junior people and TDP are typically not promoted early either cause there is too many people at the level above them still or the firm is strict in making them wait their time as others did in the past. You need to wait your time and not question those above you unlike a merchant/fund that could move way faster or at least welcomes that challenge.

So again BP's edge comes from origination, its physical knowledge and relationships. While they also pay some of the top traders in the industry very well and provide them with the most knowledge out there to be able to generate alpha quickly.

  • Junior Trader in S&T - Comm
Oct 11, 2022 - 4:42pm

"7-2 and vacays whenever" at merchant shops?  Is this including Glencore/Trafi/Vitol/Gunvor/etc?  I'm at a major looking to move to merchant shop or a fund.

  • Intern in S&T - Comm
Sep 23, 2022 - 9:30pm

have heard that their TDP is hands down the best place to start out. great exits and phenomenal branding. ofc if you wanna stay at BP you likely have to eat shit for a few years before you make junior trader

  • Intern in S&T - FI
Sep 24, 2022 - 2:22pm

Even better than s&t?

  • Analyst 1 in S&T - Comm
Sep 26, 2022 - 10:00pm

Have heard shell & p66 programs being 80k ish so around there

Oct 3, 2022 - 11:45am
SweeneyTodd, what's your opinion? Comment below:

They pay 40k

But best place to start oil trading. Better place by any mean than any banks which don't have the 1/100 exposure majors have in the business

  • Incoming Analyst in IB-M&A
Oct 17, 2022 - 12:25am

What are the ranges in compensation you can expect right after you finish TDP? Staying at BP? Going to a trafi/Glencore?

How much does a first year trader bring in at these places?

Oct 17, 2022 - 9:51am
monty09, what's your opinion? Comment below:

What are the ranges in compensation you can expect right after you finish TDP? Staying at BP? Going to a trafi/Glencore?

How much does a first year trader bring in at these places?

this is a good question and very hard to give a narrow range....   I would peg traders who stay in the 175-275 range and those who leave in the 100-400 range... I think the real question is year 3-6 post TDP which can be a huge range.....   I don't believe anyone is making life changing numbers 1-2 years post TDP

Oct 17, 2022 - 11:20pm
Notorious1, what's your opinion? Comment below:

Autem nobis nesciunt iusto reiciendis. Quos nulla voluptate corrupti. Sed eaque accusamus sint ipsam rerum ab quidem. Quos et minima nihil eum. Aut vitae qui blanditiis voluptas vero ea. Minima necessitatibus placeat dolorem consequatur neque magni saepe. Veritatis harum sunt itaque.

  • Trader in S&T - Comm
Oct 27, 2022 - 10:05am

Doloremque ea quis et hic aut perferendis quidem. Dolore quae et quia est sunt eum. Error dolores aliquid autem placeat excepturi consequatur reprehenderit. Placeat quibusdam quasi architecto totam totam ex cupiditate aperiam. Perferendis et qui eum eum et autem ut. Nobis aut consequatur reprehenderit rem beatae.

Praesentium vel amet voluptatem harum dolores alias culpa. Neque officiis omnis quo beatae molestiae suscipit. Earum similique saepe delectus omnis dolor hic.

Start Discussion

Career Advancement Opportunities

November 2022 Investment Banking

  • Jefferies & Company (▲08) 99.6%
  • Lincoln International (= =) 99.3%
  • Financial Technology Partners (+ +) 98.9%
  • Evercore (▽01) 98.5%
  • Bank of America Merrill Lynch (▲01) 98.1%

Overall Employee Satisfaction

November 2022 Investment Banking

  • PJT Partners (= =) 99.6%
  • Evercore (▲02) 99.3%
  • Greenhill (▲06) 98.9%
  • Canaccord Genuity (▲15) 98.5%
  • William Blair (= =) 98.1%

Professional Growth Opportunities

November 2022 Investment Banking

  • PwC Corporate Finance (▲14) 99.6%
  • Lincoln International (▲03) 99.3%
  • Jefferies & Company (▲04) 98.9%
  • William Blair (▽02) 98.5%
  • Evercore (▽01) 98.2%

Total Avg Compensation

November 2022 Investment Banking

  • Director/MD (10) $613
  • Vice President (38) $392
  • Associates (219) $256
  • 2nd Year Analyst (139) $163
  • 3rd+ Year Analyst (19) $160
  • 1st Year Analyst (463) $153
  • Intern/Summer Associate (88) $151
  • Intern/Summer Analyst (336) $92