Oil & Gas Trader Development Programs in Oil Majors
Hey all, was wondering how the trader development programs compare between different oil majors e.g. BP, Shell, ExxonMobil. From what I understand they are largely similar being 3 years each with 1 year in analytics, risk and operations with an assessed trading exam at the end to become a full time trader afterwards.
Is there one that stands out between them reputation wise or are the viewed roughly the same?
Based on the most helpful WSO content, BP's Trader Development Program (TDP) is often highlighted as one of the most well-regarded in the energy trading space. It is specifically tailored to build a strong foundation for physical trading, with rotations in areas like Market Analysis, Trading Operations, and Risk. This program is designed to prepare candidates for a trading role, making it a standout option.
Shell's program, while also strong, has been noted to have broader rotations that may not always be trading-specific. There is a possibility of being placed in non-trading departments like Downstream Retail for a couple of years, which could delay the path to becoming a trader. However, Shell offers world-class systems and a strong learning environment in operations and risk management.
ExxonMobil's program isn't as frequently discussed in the WSO threads, but it is generally seen as more conservative and less trading-focused compared to BP and Shell. It may not have the same reputation for producing traders as the other two.
In summary: - BP: Strong reputation, trading-focused, excellent for building a career in physical trading. - Shell: Great learning environment, but broader rotations may not always lead directly to trading. - ExxonMobil: More conservative, less trading-focused compared to BP and Shell.
If your goal is to become a trader, BP seems to have the edge in terms of reputation and program structure.
Sources: Physical Commodities: Shell vs. BP vs. Trading House Grad Programmes, Shell Trading Development Programme Assessment/Interview, Correlation between top degrees and a career in commodities, Good Commodity Trading Firms?, Q&A: 3 years software development to Power trading analyst at a supermajor
They’re actually not that similar.
BP’s TDP is a grad level role that is open to applicants from many colleges and there are strict deadlines about rotations, making sure you get exposed to different commodities within the same TDP, and strict cutoffs around pass/fail at the end.
Shell’s TDP is an experienced role whose main entry route requires you to already be in a job at Shell, usually as a scheduler or analyst. You are placed within one commodity for all your rotations and it’s more go at your own pace vs BP but still with pass/fail tests along the way.
Not sure about Exxon, but judging by placement stats in newspaper articles, nobody takes them if they get another entry level offer somewhere else.
Would it be better to accept an offer for one of these TDPs or a commercial offer from a trade shop (Glencore, Vitol, Trafigura) as a graduate?
Not sure which you refer to but Glencore is the most commercially facing then Traf. Vitol doesn't have a grad program to my knowledge. Would take Shell over all followed by the trade shops then BP.
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