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April 30, 2024
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Based on the most helpful WSO content, here's a strategic approach to position yourself for a career as a physical oil trader:
Internship Experience: Your internship with Shell is a fantastic start. Aim to secure another internship in the industry, ideally with a focus on trading or operations. This will not only reinforce your resume but also provide valuable insights and networking opportunities.
Targeted Applications: Apply for graduate programs like BP's Trading Development Program (TDP) and Shell's Graduate Program. These are designed to fast-track your career in trading.
Networking: Continue to build your network within the industry. Attend energy conferences, join relevant professional organizations, and reach out to alumni from your university who work in the field.
Research and Persistence: Job openings in trading or operations may not always be advertised widely. Keep a close eye on the career pages of major oil companies and set up alerts for new postings.
Consider Alternative Roles: If direct analyst roles are scarce, consider applying for related positions such as operations. This can be a stepping stone to a trading role, as you've mentioned with the operator-to-analyst pathway at Shell.
Education: Maintain your strong GPA and consider taking additional courses or certifications relevant to trading and the energy market.
Stay Informed: Keep abreast of industry trends and market dynamics. Being knowledgeable about the oil market will be beneficial in interviews and networking conversations.
Remember, persistence and networking are key. It's often about who you know as much as what you know in such specialized fields. Keep reaching out and expressing your interest in the field, and be prepared to seize opportunities as they arise.
Sources: Graduating MSF - no job, When should a rising senior start applying for full time jobs?, Have I messed up my future?, Finding The First Job After College, Apply ASAP or Wait for 2021 SA?
Not possible to be a physical trader quickly. Any grad program that is 3 years you'll spend not trading. Then a seat has to be available after which you become junior on the desk. Be there for another couple of years before a trading seat comes avail and hopefully by then you've shown your worth to get that shot. The few people who get into a trading seat early are either highly developed for their age or were at the right place at the right time. Try getting into the BP grad program. Glencore is good as well. Stay away from Trafi. Vitol is great but their program is not really structured. Else get into ops and start grinding up.
Also if you're a graduate who is asking the company to promise to move you out of ops into analyst in 1 year time I dont think that is feasible unless you know someone there who is willing to give it to you in writing. Seen enough cases where a 1 year stint becomes a 2 - 3 years role.
Promises to promote or move in 1 year are definitely not reliable unless they already know the person you are replacing will be gone in the same time frame. Desks are not going to double staff for no reason.
I appreciate your response. Why not Trafi?
very tough culture to come in and learn... better spot for someone who has a portable business
Hahha stay far away 🤣
"Vitol is great but their program is not really structured."
Someone that has the chops to be a good trader would see this as an opportunity, not an obstacle.
So even though there is gonna be more and more grad programs, it still takes like 5 yrs to become a trader in physical commodity?
You need to look at what does a physical trader do? He/She is responsible for moving products from point A to point B at the specs required. If you do not know ops how will you understand what is physically possible? If you do not understand specs how will you know what to blend and how to blend to extract maximum value. The market is extensive so how will you learn the ins and outs of the market without spending a considerable time really understanding it? You can go down the paper route but who will give you a chance to manage paper in a highly volatile space? Lets say you are delivering gasoline into France on paper everything looks good. The weekend comes and there's a strike with no end. You vessel demurrage will eat away all your margin. How would you then manage the situation? Or lets say you are supplying the AG but then rockets get launched and no one wants to traverse South Red Sea. Suddenly all your vessels are going around the Cape of Good Hope. Owners asking for deviation costs and your cargo will arrive 2 weeks later. How would you manage such a situation. Physical is all about making money consistently and taking calculated risks when something untoward happens. As simple as that. But not easy by any means. If you do not have a reputation in the market why would I trust you to deliver my product? Traders make a money primarily by arbitrage be that geo or quality. if you dont know geo-scene or quality of your product how will you make money? Where is your edge?
DeltaDecay is spot on
In the same spot as you so you so commenting for notis
“Quickly”. Get lucky.
Align yourself under a great mentor. Do everything he says, minimal flaws and 0 complaints. Be honest and own up to your mistakes. Keep asking for more and more to do. And again, be lucky (luck favors the prepared). Oh and be able to knock back beers with your mentor
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