Ignore title, I'm currently 3rd yr analyst on the energy derivatives desk at a BB. I am applying to the oil majors TDPs but I'm also interested in what it's like to work for one of the national O&G Cos in terms of comp. learning opportunity, lifestyle, etc.
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Whats the rationale from going to derivs at a BB to a TDP?
I find the physical market much more fascinating and intuitive so I'm looking to transition while I'm a junior.
Interested in Aramco comp as well
Target BP/Shell. Aramco just started they trading business couple of years back.
Given the money they have wouldn’t it make more sense to go to aramco since it’s new and try to become a big fish there?
If you have paper experience then yes. But if you want to do physical best to go through BP/Shell. If someone gets into their trading graduate program it will make him/her very marketable since these are feeder programs into the industry. Of course if Aramco is willing to offer a physical seat then by all means it should be taken. However, that would mean learning a lot while doing the job so that as a trader you're not asking stupid questions to Ops.
At majors knowing your system is very very useful since your first job is to make sure you're optimising your flow and then taking opportunities by leveraging your system when the market presents itself. Not knowing physical and the system means learning both. Any time the market sees someone new they will try and get some advantage of it.
I think Aramco's houston office just opened
Could be easier targeting Aramco vs. any of the larger shops
Also, Trafigura has a trader development role that targets people in similar positions
Avoid the national companies ex-Aramco. Oil majors will give a much better learning experience, even the trading houses willl give great learning experiences. These national oil companies aren't going ot be "trading" but rather doing more negotiation/origination work. Unless of course you're into that.
Any physical market experience is good experience vs. the current alternative of a derivs shop
Aramco pays its people well at mid-level and above. There is also very limited opportunity for career growth and personal development and the turnover tends to be quite high. It tends to be a place for people to go once they are a few years into the industry and to get some decent $$ but with the view to leave quickly.
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