Both firms are known be to have very tough cultures but I've heard more that Trafigura has much more of a nimble and pure trading culture than Glencore (post-IPO). I'm currently interviewing with Glencore and Trafigura (along with another lesser known trader) for non-trader roles but hope to eventually work my way up to trader.
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Have been on the other side of the table from Glencore on deals twice now.
Not on the trading side obv, but they're incredibly sharp people. The way they structure and negotiate deals put the best bankers to shame. They weren't super nimble but also not a big unwieldy org.
https://www.reuters.com/article/us-glencore/special-report-the-biggest-…
What do they mean when they say they look like kids?
Another quote from the same article
This is what WSO would call hardos (though I don't really see it as a negative connotation)
The ones I've dealt with were relatively young and incredibly astute. Senior folk anywhere generally don't delve into minute details, but doesn't apply to Glencore lol.
The hardo culture there isn't about nerding out over commodity markets, finance quirks or anything like that. They're zeroed in on one thing and one thing only, making bank.
By the way, did you deal with the traders or financing guys? Still really confused on the distinction of Glencore traders.
I got hard reading this line
I'll be starting in Metals and Mining group very soon so would like some color on Glencore.
interviewed with glencore guys and all I’ll say is theyre absolute dawgs.
Bit confused by all the comments in this thread. The reason, these firms are known to have bad cultures is a major pressure to perform and fact risk leadership has a lot of power/say in these places, could even say similarly IT is an obstacle. All issues that impact traders building a new business much more so.
For someone trying to make it through, both are known to prefer experienced traders vs grooming their own. Trafigura has a program basically looks at traders at other roles and starts them brand new. Also both firms are known to have a promote or push out culture. Not places that fit everyone.
A bit surprised about Glencore preferring to have experienced traders rather than hiring young and indoctrinating with the culture. I've heard the opposite for Glencore.
I have seen both get hired at both firms.... I mean Glencore hired Jon G after he was at GS for 10 years... they also promote guys up from within and hire from training programs....
hi there, could I ask if you are interviewing with them for their graduate porgramme ?
I am not
Also, how do these firms work in terms of teamwork? I would presume that everyone would be on their own and would only rely on the firm's schedulers/IT/etc for support. If a trader finds a good trade idea, does he share it with the others or keep it to himself?
Can only speak from US perspective but the whole never talking about personal life isn't true at all, at least not anymore. Maybe a bit different when talking to a bank or other trader but suppliers/consumers, absolutely, it's a relationship business.
Fwiw I have heard the culture at Trafi is much tougher generally speaking. Claude was a mean dude.
Has the culture at traf not changed since Claude was last in power in '15 before his passing
They love to tell people in interviews that "they don't hire assholes," which is about as surefire a sign of that as there is.
Go to Glencore would be my advice.
Any thoughts on Vitol culture? Never really hear about their vibe compared to Glencore or Trafi.
These two shops foster a very competitive environment since everyone tries to outshine each other in order to reach the trading seat. I've been told trafigura is very cutthroat (hell, I even did a few interviews with them and they sounded like assholes) and Glencore is ok. Not any better tbh. Just prepare to get railed every day.
I would go to vitol or mercuria. But if your a franchise then I think glencore could be pretty interesting right now. Traf is throwing money around and trying to build out again. I personally don’t know anyone that’s actually stuck around but I think they are paying up these days. Think DRW,BAM,Citadel could be interesting. Maybe hoppers pod at MLP.
What makes Glencore particularly interesting right now?
Massive coal year and major power short position in Europe. They are bolstering gas and power in Europe and overall moved gas/power/renewables under 1 global head.
What do you mean by franchise in this context? Is Glencore organized by pods like the multi managers are?
Yup, most merchant trading firms are very lean and flat organizations so they look similar to pod shops.
anyone know accurate this article is? is the market really this enticing? https://www.bloomberg.com/news/articles/2022-12-09/hedge-funds-lure-oil…
Yea it was the Goldman MD that went to MLP to start his own crude pod
You also have shops who were buying out bonuses- lots of funds were desperate to get people . Trying to get people to move on big years with big PnL means buying their predicted bonus out.
ok so only one guy...article made it sound like it was more commonplace
Ha it is. I don’t think people are getting 5mm pay days left and right but the pod shops are sucking up commodity talent like it’s 2000
One of my former seniors was trading metals during the 2000s and he used to tell me some crazy stories about funds desperately trying to reach him. It's always funny to laugh at people (including myself) calling ourselves "sophisticated" and "above the noise" yet becoming so obsessed with a trend that will probably not be long-lived.
knew a guy who just got 2+ going to a shop so def possible
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