How to get an entry level job in physical commodity trading?
I am recent graduate from university and am very interested in getting into physical trading (primarily oil but open to other commodities). I applied to a few graduate programmes, but they have not been so promising so far...I am now looking at other options but am confused where to focus my time and what other options I should pursue. Should I go back to school and take a master's in commodity analytics or try to find jobs in adjacent industries like shipping or at a commodity broker? Also, how should I best network with people from these firms?
Ah, the age-old question of breaking into the world of physical commodity trading. It's a tough nut to crack, but don't worry, I've got some tips for you.
Firstly, getting your foot in the door is key. Internships in the commodity world are not like investment banking - you can get a long way with just networking and don't need to go through a formal HR program. Once you have your foot through the door, even if this is a 2-week "work experience" or something, it gets a lot easier to land yourself something full time.
Secondly, consider working with big clients of any physical firm. Companies like Nestle, Hershey, Starbucks etc. could be very interesting. They deal with commodities like Sugar, Grains, Coffee and having contacts there will certainly be valuable later in your career if you go into trading.
Thirdly, learning a new language like Mandarin could make you stand out. It's not a must, but it's a nice-to-have skill, especially if you're aiming for a spot on a trading desk.
Lastly, networking is key. Reach out to traders or employers in the industry, show your interest and eagerness to learn. Remember, there isn't a clear defined path into commodity trading, so making connections and learning from those already in the field can be invaluable.
As for going back to school, it's not a bad idea, but practical experience often trumps theoretical knowledge in this field. So, weigh your options carefully.
Remember, it's a journey, not a sprint. It might take time, but with persistence and the right approach, you'll get there. Good luck!
Sources: A few questions on getting started in physical trading, Physical Commodity Trading career: If you started over again., Q&A: I'm a Dry Bulk Physical Trader
Internships are basically non existent. It would need to be a grad scheme somewhere. But so much depends more on you than the best way to get into commodity trading. Commodity trader is a very ambiguous term and covers a whole multitude of sins. Feel free to DM me
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