Physical Commodity Trading Offers: Hartree Partners Vs Castleton Commodities International (USA)
Hello! I currently have two job offers in the physical commodity space: one for an analyst position on the oil desk at Hartree Partners (HETCO) and another rotational offer in Castleton Commoditie's Merchant Operations division. I like the Hartree role due to it being an analyst role with direct exposure to traders, though the Castleton offer pays more (and the brand name is better?). For someone wanting to eventually become a trader, which offer would you recommend?
Bonus question: how does this compare to a BB S&T offer and other physical trading opps i.e. Trafigura Global Graduate Program and BP's IST.
Hartree. The CCI gig is MO/BO type stuff per your "physical operations, settlements, trading operations, and product control"; this does not lead me to conclude that it is an "operations" role as gets mentioned on here, i.e. scheduling. This to me sounds like more of a finance rotational program--settlements and product control being listed is my tip off--a lot of places have re-branded these types of programs to lure kids in that think it will lead to trading, it almost never does. Rotational programs are great at places that take them seriously and have them built out--BP, Shell--but a very high risk play at places that don't. Personally, I would take the desk analyst position, you will learn more about actually running a trading book.
Bonus: BP IST is your top of the line ticket it maybe have a shot @ trading via a rotational program. Trafi's I think is too new, haven't heard of any traders popping out of it yet (though I'm not talking w/ Trafi ppl that much @ the moment). I have no idea how this relates to banks, different beast and banks are exiting the space.
Personally, I would take the Hartree offer. Assuming you are very new to the industry, Hartree is the sweet size where you will learn a lot from the direct exposure, but it isn't going to blow up tomorrow.
As said across the comments, ops is still very much seen as key on the phys side, analysis fits a little better on derivs (though I know people who have made either work for either...)
At a BB you'll trade ~2 years, with a small amount of risk maybe given beforehand. Trafigura, you're looking at 5/6 years before trading I believe, and BP is around 3/4 years.