Well, it's a matter of scale, I would say. Your major players are the only ones who can provide services on a massive level to a more public audience. To trade commodities, the trader needs to have the Series 3, so does any supervisor. You also need a compliance officer with the the series 30 exam, which covers regulatory and compliance in a supervisory role for commodities and futures. Most of your funds trading commodities may have a commodities trader and supervisor, but to get access to the actual markets, just like with trading through an executing broker, it's much better on a scalar level to trade through a broker, providing better timing and access to trade through an executing trader.

Assuming this is a localized case, limited to UBS, I would expect this to still be a viable option. Remember, everyone needs to have someone who can trade for them. Banks are just one avenue, even in this shrinking market.

 
Best Response

Investment banks are not hiring. I had drinks with some people from ML, DB and JP last week. They are all in a freeze. Sure they will still be making offers to analyst and associate hires but your looking at maybe 4 jobs that are going to kids that intern there in the summer 08.

So if you did not intern on a BB energy desk in summer of 08 your chances of joining one in summer 09 are slim.

I have a friend at a BB and they can not even bring someone over from another department. Everyone is trying their best to stay idle.

Bonus should be down for many shops so look for a lot of movement come Feb/March.

Keep in mind that DB "seasoned" guys have 18 months exp, JP (bear energy) have around 24 months.... so no one is tied anywhere. Movement will happen.

 

Still quite a lot of movement happening in energy, I've heard of quite a few other shops hiring, just not the BBs. It's just not the time.

monty get your ass on haven't seen you in ages. you sleeping earlier these days? haha.

 

Dolorem dolore illo et asperiores omnis. Voluptates nulla in dolor possimus mollitia nulla aperiam. Illo repellendus nobis nihil. Sed molestias esse odit fugit ut.

Qui ut aut et ratione sequi natus tempora. Molestiae explicabo delectus sit perspiciatis earum repudiandae quos. Qui aut dolores vel officia quo.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
kanon's picture
kanon
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
DrApeman's picture
DrApeman
98.9
9
GameTheory's picture
GameTheory
98.9
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”