Does scheduling sit within FO for Oil trading?
Title says it all. Is scheduling considered front office within oil trading companies? If it depends on the company, what the best way to tell if it is FO?
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Yes, operations talk to counterparties so it would be considered a front-office role. Schedulers/blenders constantly communicate with inspectors, terminal operators, traders, other operators, trade finance people, tax, shipping agents, etc. The operators I worked with were invited to events and dinners (pre-covid) by counterparties.
At least that's my perspective from a trade house.
I would 100% say yes. I would even consider the trader scheduler relationship to be a partnership and in a lot of trading houses logistics people while not as well paid do get a cut of the bonuses and rightfully so.
Best way to tell if considered front office is if you think the ops people are as much of studs as the traders there. If across the board they seem hard working and focused then you know that their role is important enough that they can't just treat it like any old 9-5
100% yes.
some ops people make more than traders in other products
Never heard of this
Perhaps a senior ops makes more than a junior trader
If by across products he meant different industries then I have seen it as well. Schedulers/operators at an energy trade shop I know make about 50-75k more vs a trader at an ag shop.
Well yeah I know people in IT jobs making more than I do.
Apples to apples a scheduler does not make more than the trader they are scheduling for
20 year scheduler vs green trader? Yes.
20 year trader vs 20 year scheduler? No.
depends on product... 20 year power trader vs 20 crude or products ops.... ill take the crude/products ops comp... just deeper market and more money
When talking about a crude scheduler getting comp’d well, how much do you guys mean? $500k for the top guy? Or ever see +$1M in a blow out year?
I've never seen a trader get more than $150k. You don't own risk, so you don't get big paychecks.
I would say somewhere in the 200-300 range for an average year for someone 5-10 years in. This is just one data point I have from a buddy so I can't say it is always the case and this is at a big trade shop.
It depends where you're scheduling. If you're at a pipeline scheduling, it's pretty mundane. However, you could use that role to move to a trade shop. Schedulers at trade shops have decent chances of being a trader.
I would say its Middle Office. As an operator you are in contact with the operators of counterparties but you have less decision taking as compared to a trader. The caveat is you really cannot divide Ops into back/middle/front office given how important Ops is for the value chain to function correctly. This is what I've seen in the firms I work with and may be different at other places.
If you're in Ops you'll hardly be working 9-5 since there's always something going on or going wrong.
I would call it "support" to front office. The typical Front/Mid/Back office thing doesn't always apply to oil commodities.
Plus scheduling can be so different, depending on role and on type of company.
Being a crude operator at a major trade shop is a way different gig than being a scheduler for a producer, etc...
I would say so, since every good crude scheduler has a chance at a commercial role at most firms. So its similar to being an analyst on a bank desk I would say.
If we talking about schedulers who are senoir and around for years bit different since they know their role, comp while good is capped relative to other commercial roles.
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