CITI Commodities S&T VS BP Trading & Shipping Internship
This is somewhat of a hypothetical question but I have similar opportunities available to me and would like some guidance on the differences in these options. Any information on compensation and exit opportunities would be extremely valuable. I understand that the BP TDP is widely recognized as the gold standard in the industry but it is hard to pass up on the compensation offered by a bank. Keep in mind this is referring to a junior year internship program which means I would still be able to apply to various graduate programs regardless of my choice (S&T does not offer graduate program). From what I understand many S&T analyst end up at some of the same HF as graduates from the BP TDP (EX: Citadel, Engelhart), however I definitely have an interest in physical trading. I also have concerns about landing a trading seat through the BP internship with about 25% of interns receiving return offer and passing ATC test at the end of TDP. Any insight on bonuses and comp progression in either program would be appreciated as well.
TLDR: I am very fortunate to have two incredible opportunities available to me and I am struggling to make a decision on the best path.
Based on the most helpful WSO content, here’s a breakdown of your options:
Citi Commodities S&T Internship
BP Trading & Shipping Internship
Key Considerations
Recommendation
If your ultimate goal is to build a career in physical trading, BP’s Trading & Shipping Internship is the better choice despite the competitive nature of the program. The TDP is a direct pathway into the physical trading world, and the skills you gain are highly transferable within the industry. However, if you prioritize immediate compensation and broader exit opportunities, Citi’s S&T internship might be more aligned with your goals.
Sources: Physical Commodities: Shell vs. BP vs. Trading House Grad Programmes, Advice: BP IST Finance & Risk Summer Internship, Crude Oil trading at big oil exit opps, Correlation between top degrees and a career in commodities, Updated 2022 S&T Compensation
BP internship cycle already started??
Really depends on if you want to trade physical or financial, although you could technically go either direction with both options. Hard to deny that BP is the best program in the industry but for an internship it doesn't matter so much.
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