Physical Commodities Trading 2022 Graduate Program Megathread
With the increased interest in the physical commodities trading industry, it'd be useful to have a mega thread on all the programs and applications..
Last updated : 19-Sep-21
Glencore - Commercial Graduate Program - Open, deadline 31-Oct
Trafigura - Global Graduate Program - Open, deadline 03-Oct
Cargill - European Graduate Program - Open, deadline (?)
Total - Closed
BP - Trading & Shipping Development Program - Open, deadline (?)
RWE - Commercial Graduate Programme - Open, deadline (?)
CCI - Commodities Trading Analyst Graduate Programme - Open, deadline (?)
Shell - Trader Development Programme - ?
Louis Dreyfus Company - Global Graduate Program - October Start, deadline (?)
EDF Trading - Commercial Graduate Program - ?
The above is (as you can see) a work in progress. Please post comments of other programs/expected opening dates/if you know of any progress please comment here we can all consolidate them!
PTP
CCI commodities trading program. Deadline: already passed.
thanks for that - seems London 2022 applications are still open from their website, do you know otherwise?
Not sure about London. Couldn’t hurt to apply?
Finished the CCI rotational program in 2020 on the Houston desk. Great base experience into how a phys merchant desk operates. If anyone has any questions, I'm still close with the Houston/Stamford.
Looks like they're hiring a Trade Operations Associate. Very similar responsibilities to the grad program, but looks like they want a few years of experience.
username?
Cargill has a listing for their freight trading rotational in Miami.
This is a tangent but what are your views on freight trading roles in commodities?
My experience is second hand given I'm on the commodity side but dry bulk probably gives you a better macro picture than you would otherwise get.
The industry seems very old school. Even more clubby than commodities, the London shipbroking community is about as old boys club as it gets.
That said working for a principal is probably very fun, especially at the really big guys like Oldendorff or Cargill, or Shell in oil. There was a thread on freight by a guy who said there are two kinds of roles at charterers, ones where you just end up being a pricing input for the traders, and at more agressive firms roles where you really are trading your freight position. The former doesn't sound as interesting but pay might be reasonable for something fairly chill, and those brokers will definitely show you a good time.
Outside of a few select positions I don't think you should pick freight in the hopes of switching to commodities. In commodities that are extremely freight dependent (iron ore, coal, crude, LPG) that might be possible but otherwise I'd say forget about it. I know Shell once advertised the opportunity to move into crude trading from crude freight trading for what it's worth.
Not a ton of roles in commodities I would consider jumping ship for but trading dry bulk for Cargill does sound pretty fun, and chartering at NOCs or supermajors sounds pretty chill (I might be completely wrong).
For US applicants,
CCI has already scheduled 1st rounds
BP reached out that Hirevues will be all reviewed by the end of this month
LDC's graduate program will open in October or November I think.
And Total's Trading and Shipping graduate program was early 2021.
Anyone know what BP typically focuses on for their interviews and Assessment Center final round?
On the interviewing side, expect to now meet trading employees which will usually range from traders, to risk managers, operators, etc. Unlike the first interviews with HR, the types of questions you'll be getting will be slightly more technical and market related (although you should still prepare for the usual behavioural type questions).
On the assessment center, unsure as to how they'll look like now with covid but it used to be a 1 to 2 day event with trading simulations, group negotiation exercises, case studies and multiple interviews (not sure whether they do the negotiations/case studies every year). The trading simulations are relatively basic and for the most part, actually a lot of fun (if you do like trading that is). You are trading one product (crude) and will be taking either flat price or time spread positions. Your PnL isn't be the most important factor, how familiar you are with basic trading concepts and how you react in stressful environments are. There's quite a lot of material on the negotiation exercises and case studies online (and on this forum).
...
Anyone get an update on their app at bp?
Offers went out
All CCI superdays should be done by this week. US office
Did anyone got any response from trafigura or Glencore? When did you apply and received your response? Which location and commodity?
Glencore Oil US, are in the middle of 1st/2nd rounds.
surprised physical commodity isn't really looked at
I got an invite to the first round of Glencore on the 8th. Process sounds very long so im not sure its worth my time
when did you apply and location?
I applied in September or October i cant remember, London.
Don’t sleep on the Phillips 66 development program.
A lot of their traders came out of the new hire/Katalyst program. And it’s modeled after the BP development program.
https://p66oncampus.jobs/university-new-hires/commercial/
does BP TDP run its recruitment almost exclusively from its pool of summer analysts or is there solid intake from their graduate recruitment?
Can anyone provide some color on the number of SA interns/return rates/FT graduates
they admit a few people directly into the grad program
Has anyone heard back from Glencore's London Grad Programme round 1 interview?
US just finished final round, don’t know about London.
Glencore offers are out
Which office?
US
Petroineos has a graduate programme in London. Often opens quite late, but worth a look.
Hey, do you know how I can get a list of all commodity traders in a specific location ?
Trader development program applications are being accepted for Houston....been waiting for London application round to open.....does anyone know the dates? I hope i didn't miss the deadline when i was not checking job openings during exams
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