Glencore vs Mercuria (NY/CT)
Maybe too specific a question, but how doe Glencore and Mercuria compare with each other? I mean in terms of compensation, culture, trading style, etc? Mainly on energy trading.
The question is particular to the New York / Connecticut offices.
I interned at Glencore last summer in NY office...it's pretty much just zinc and a couple of diesel guys. In other words, real action will be in Baar, London, Singapore, etc.
Interested to hear Mercuria though.
Glencore NYC is pretty active in a lot of markets .....
What on earth are you talking about?
Glencore NYC, has their head risk guy there. A financial crude team, financial gas team and various other traders and risk staff. NYC is for sure a key office for them being NYC and Houston in the USA.
Mercuria, first off its located in greenwich like Citadel. So expensive and tough lifestyle for younger folks. They have 2-3 of their senoir gas trading staff there among others.
Truly very similar firms, though Glencore is known to pay 15% more consistently for traders and Mercuria moves the goalposts annually. Mercuria has probably more loose risk rules and probably slightly more laidback culture overall. Really one of those comes down to which people you like to work with situation.
Could you elaborate on this?
Who you see as a better mentor, who you see is more trusting of management. So on. Basically literally the people.
Thank you, appreciate this. A couple of follow ups.
1) could you comment on glencore's culture in the ny office?
2) I have heard that, as far the US goes, Mercuria's Greenwich office is "second fiddle" to the Houston one, which is much more more key for Mercuria. Is this fair?
3) what do you mean by Mercuria shifting the goal posts?
I would comment that Houston is the center of all Energy for 99% of firms
1) More of a professional culture that is exhibited in NYC especially when you have traders who used to work at NYC banks.
2) You have to remember CT offices exist cause of legacy UBS etc days, so they are usually smaller but also house some of the top traders in the industry. Very likely they will be quieter but many merchants have very good traders out there.
3) The main issue people have with Mercuria is that the firm is run by 3 head dudes, and 1 of them is a trader's trader. Therefore they change cost allocations annually, they change what they "consider franchise value vs prop trading value" and so on. If Daniel ends up liking a desk he will let them have much more freedom and more clear understanding of their payout, if none of the 3 dudes know your name very likely a lot more uncertainty.
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