First New York- Questions

Hi,

Need advice please.

Have offer at FNYS and other offer for commodity trading in major oil company. Which should I pick ?

The way I see it:

FNYS (pros):

• entrepreneurial
• my ideal job
• training, opportunity to learn from traders
• paid during training 60k
• given responsibility to manage book
• potential to make money is there, but entirely up to you
• firm might become a hedge fund to capitalise on closing of prop desks in banks

FNYS (cons):

• after training compensation depends only on P&L
• risky career path
• about half leave after training
• limited career prospects in Hedge Fund or IB
• insider trading probe => could it affect capital base
• small capital base (they have about 300 million, but bigger buying power thanks to leverage...)
• get feeling that most make decent money but few make it big, if that is the case then why sacrifice career prospects if would end up making as much as any ordinary bank jobs... of course the idea is that could make lots of money prop trading, but if most end up not doing so, then however confident i am of my abilities, realistically I should expect to benchmark myself relative to the average performance of their prop traders...

Trading at major oil firm (pros):

• oil industry is stable, energy demand very strong for next decades
• fascinating industry
• understand physical trading as well as derivatives trading
• more stable career prospects
• potential to make very good money with bonus, but not guaranteed

Trading at major oil firm (cons):

• very specific industry
• perhaps limited career prospect outside that industry, maybe limited to commodity division in banks
• although firm is a major oil company, establishing itself in the trading business, ambitious plan to expand (can be seen positively to)

CONCLUSION

What should I do ?

Help please...