Deadline for Energy Trading Internships?
It seems like a lot of the guys on this board are really knowledgable about energy trading so I would really appreciate your help.
I go to a target (top 10) school and I want to get an internship in an energy trading role for the next summer. Ideally, I would want to work at a physical shop (oil majors, power generation) as I feel like a good understanding in the fundamentals would serve me better further down the line. At my school almost all internship recruiting is done during the spring when all the BBs and trading firms come to campus. However, what is the protocol for the oil majors (BP, Exxon etc)? A lot of the utilities and power generation companies (NRG, Duke) which I know have trading desks, don't really advertise for trading related internships. Is it worth contacting them about such a position?
Very few people from my school end up in energy trading and I have very few contacts there. If anyone could help me out with the process it would be great? Really appreciate it.
For internship, I had a BP interview almost a month ago. I have a conoco interview tomorrow
hit them all up.. call up everyone... I know we got an intern from a cold call a few times..
Bearcats and Monty> Thanks a lot for your help.
Monty, when I cold call should I try and call HR or try and get to the traders directly? Plan on starting to do so by tomorrow as it seems internship recruitment is at full swing at these companies.
do what ever you need to do. I dont know who would be better to call but call someone.
I know we dont start looking until the spring but nothing wrong with resume drop now. I think you will find lots of energy trading firms do not follow the same wall street time line or hiring practices. Both good and bad in my eyes
I know someone on here who cold called bear energy and is now working there full time
Do trading programs at oil major usually start you off in a operations/scheduler position where you stay fixed and eventually get a shot at real trading 2 years later?
How is salary at a trading role at an oil major different from an IB for the first 2 years?
I work at Shell this summer, and before you actually get to trade, you will do risk and scheduling rotations (yes to your question). I know for sure that BP's and Shell's trader programs are structured similary, as in 2 to 3 years of being in a training/development program with a mix of risk and scheduling (you might be lucky enough to do some "actual" trading depending on your manager) and then you move onto being an official trader. However, the TDP (trader development program) at Shell may change very soon (a few days) though. HR has a policy in the making that the TDP will only be open to experienced hires --- so the 2 years you mention may actually be much longer at a major, or at least at Shell, before you become a true trader. Trading there is lucrative once you actually make it though. Mediocre-to-good years you will collect about 100% salary in bonus, and bad years you make about 50% salary in bonus. The salaries are typically higher than the rest of the company as well.
Thanks for the very insightful comments. Now in a risk/scheduler role, is salary compatible to the first 2 years in an investment bank? Forgive me if I'm intruding too much but I am considering some career paths right now and I'm just trying to do the math to see how best to pay off a massive international student loan.
depends as everyone is different but on the phy side your better served with some mid office roles
I don't think Exxon has a trading division in the US.
They treat their production like a utility would, mostly hedge it and try to avoid any real delta risk.
Also their "traders" are paid very low bonuses, since they aren't really trading.
you have to make money to get paid. I think a lot of people forget that. If your looking to make a nice bonus for going through the motions.. banking may be for you.. to do well trading you need to make money..... most 20 year olds dont understand that
^^^listen to that dude, he is a wise fella.
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