Commodity Grad Program vs Bloomberg Global Data
Hi guys, recent bachelor grad here with 2 outstanding offers. I'd appreciate some experienced advice on which one between the two is the better choice.
The former is at a major global trade house but the catch is that BBG offers 30% more in starting base + sign on bonus.
Which one should I choose, let's say in terms of long term payoff and short-medium term opp cost?
Trade house for sure. Bloomberg is a client support company and while their reporters are respected for what they do, I’m not sure their analysts or economists get anywhere the same amount of credibility. I’ve never seen anyone move from Bloomberg/Reuters move to a commercial role at a major or trade shop. So if you want to trade or be adjacent to it, this is a no brainer.
Thank you, that was very helpful. Do you know how much total comp will be at the trade houses (for either o&g or ag) after the training program? And maybe 4-5 years down the road?
Not familiar with ags. Energy you should be at 200k and up by then. Maybe a lot higher, just depends on the circumstances.
Don’t worry about pay starting out. I’m not a huge fan of the Bloomberg role because you are essentially supporting the data needs of the customer which first of all sounds kind of boring and second makes you one step removed from how money is made. So I have doubts about the long term career prospects about this. Though happy to be corrected. The customer service reps at these companies have very high turnover, so I’m not sure it’s that rewarding.
I think which trade house the offer is from matters. Not every trade house’s program sets you up to become a trader down the road.
How does it sound for one of the ABCD? I've heard it's easier to become a trader there coming from the program vs energy and metals houses like Traf/Glen.
whats abcd
Its easier to make a trading spot in an ABCD, but unlike a energy and metals house the pay is lower and better work life balance unless you're a top trader.
The programs in most of the 4 are structured similarly, PM me if you have more specific questions about the ABCD programs.
Was in the same shoes, and everyday i thank who and what so ever the fact that i did not take the bbg offer. For me it was harder. as the location in of the trading house is terrible comparing to central of the city.
Bloomberg is not bad, if you long stabilities and good benefits, take it. Else you like to take some risk but have a higher upside. and more fun!( for me at least)
Plus most trading house does give good bonuses even as a grad. + central city allowance and even some have free housing when international rotation. So the pay gap is theoretically smaller than you think
Very cool and yeah I'm leaning towards choosing the trade house much more now. BBG data job seems too mundane for a career and I guess even a switch/promotion to their internal ER wouldn't be nowhere as interesting as on the side of commercial players in like physical trading.
Anyway though, do you think it's wise / possible at all to negotiate at least a higher base (maybe 10-20% more) with the trade house by telling them that I have another competing offer?
grad scheme wise, dont think you can, but worth a try if you are willing to, but think most of them are fixed. Junior non structured role, more possibilities.
the answer is base on that you are in eu, not sure whats us going on
Let's put it this way, it's easier to go from trade house to BBG than other way around
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