Hi guys,
I have an interview coming up to be a trader with a major physical commodities shop (think Vitol/Glencore/Trafigura). The problem is that I do not come from a trading background. I currently work in consulting and I think I got the interview only because I've worked on a high profile commodities case.
What are some of the questions I can expect in terms of fit or technicals? And can anyone in the industry tell me why they chose this industry over others? Really appreciate the help!
To be a trader? Nice troll.
how do you know he is a troll? SonnyZH i know you know alot about commodities but can you help some people?
He doesn't come from a trading background (or at least physical). There is no way in hell any of the 3 houses mentioned will put him as a trader without having been in traffic, 0% chance.
I know what you mean. Like I said, my lack of trading experience is exactly my concern and something I will confirm with the person who helped me got the interview. I have dealt with physicals, but only from a research/analysis side instead of the trading side. If someone can share some insights regarding the day to day responsibilities of a physicals trader and any common technical questions would be great.
I am not trolling. I was really surprised myself and didn't know why they would want to interview me. Maybe they'll start me off in ops because of my lack of trading experience but the title does say trader. Anything about the industry and the day to day responsibilities of a physicals trader would be much appreciated.
Fundamentals - supply and demand
obvious troll is obvious
well Trafigura does recruit for "Junior Trader" positions even though that involves rotations in non trading spots...
Chances are that the $120+ billion trading firm that spun off of Marc Rich's operations has a better idea of roles that are and aren't trading related than you do.
What are you even trying to say? That position specifically says you will be in Deals and then Ops/Traffic for a while. This is different than hiring someone directly to a Trader position.
Or are you arguing that Ops/Traffic is a trading spot? If so, you are just arguing semantics and I'm not going to get into that.
Read up on Oil 101, a few commod derivs books (upstream->downstream, fundamentals, chemical components, hedging, contango/backwardation...), logistics/shipping (pipelines too) books (freight rates/derivs, storage forms, pricing, weather... Endless list.
If he's not a troll and is serious they won't be asking him these technical questions anyways.
Vitol doesn't hire people like this, narrowing it to Traf/Glencore. Traf essentially doesn't recruit. Meaning you're telling me that it's probably Glencore, and it's probably for a trading support role, not a trading role.
Incidentally, there are way too many posts about physical trading on this board these days. Not a good sign imo.
they usually start getting deterred when they actually read about it though. or by the .5-1% profit margins frequently involved. or the amount of work before you can trade compared to pretty much anywhere else. etc etc.
Still, a couple years ago, you wouldn't have seen more than a thread or two a year on this. Call it the Glencore effect I guess.
You are leaving out some precious details--which desk? Metals? Grains? Energy? Power?
Most physical traders are specialized within their markets--an oil trader won't typically know Kansas corn basis while a power trader won't give a damn about dirty bucket rates.
I've interviewed with Glencore. Every interview I had was soft. No technical questions asked.
What do interviewers look out for in commodity trading? (Originally Posted: 03/11/2012)
I am applying for a position as a trading analyst as a fresh graduate in vitol. After attending various networking sessions, it appears that they put importance on "strength of character" . This seems rather vague to me.
So what are they actually looking out for in the interview?
Please advise.
Just be yourself and through that way your personality will show. And if they like it, they'll take you
Lol you sound like one of them. Haha
A banana for you.
It may sound cliche, but it's true. I have interviewed with some BB's and all of their advises were along those lines. You must be yourself and not try to fabricate someone else. Fabrications do not last very long.
I hope this helps.
It sounds vague indeed but from what I have experienced with interviews is that recruiters or perhaps seniors are looking for a new team mate (as with any other industry/company). Since you'll be making a lot of hours with them they need to be sure that the person their taking on is someone who fits well in the team especially when the pressure is high. Believe it or not when the pressure is high as often is the case with IB, the most calm people tend to become non-cooporating selfish monsters. At an interview there's an info assymetry: you can hold up a alter ego of being the most hard working and social collegue just to get the job. It might work to your advantage but be carefull. Recruiters interview people quite similar everyday, all day so they know (it's their job to know) who is fake and who is real. In the end I think it's all about finding the right company culture that fits your persona. Not the other way around. What really helps is doing as much interviews as possible with different companies and acquire the skill of interviewing. At some point you notice what companies are looking for and which companies are in line with your persona.
Good luck!
Besides being sharp and hungry, they'll look to see if you are reliable, honest , responsible and trust worthy.
No one will expect you to be an expert when you start and you will make mistakes-. Senior traders want to know they can trust you to complete tasks without supervision and that when/if you make a mistake you'll be upfront about and proactive about fixing it, instead of trying bury it.
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