Do oil companies tend to be very bureaucratic

Accepted an offer for a trading position in major european oil company.

But, I am shocked by how slowly decisions are taken, and by the huge amount of paper-work and bureaucratic work.

Is this the trend in the industry, or just happen to have joined the most bureaucratic company in the world ?

 

I've been at an IOC for only 6 months, but I can tell they are very bureaucratic. If you can make the right connection within then you should be good.

I've already seen brilliant people who don't necessarily know upper management well go into shitty jobs (rotations) because the company had a "business need". While on the other hand some kid who had a shitty GPA in college but his dad has worked for the company for decades makes it to a role where he's being trained for the coveted trading or M&A position. It's really bullshit. I don't know how the bureacracy ranks against other industries, but it definitely exists.

Either way, you're a fucking trader. Oil trading is the SHIT. Good luck man.

 
Best Response

Most Oil companies are run like big F500 firms. Most of the C-level at these firms comes from the engineering and other areas of the firm not just the trading side. Just because trading is comp'd differently in its own world, does not mean it can totally act like a rogue entity.

Add to it that your typical huge oil company unlike Pepsi/P&G and others. People don't actually die on their watch, spills oil in the gulf by accident, various lawsuits, runs operations in parts of the world most companies would never step foot near and so on. This forces many global policies and initiatives, can't just tweak them for every office to be different.

Ultimate result, oil companies tend to go overboard to be better safe than sorry. Makes things inefficient and annoying at times especially since your basically doing the same job that someone at a bank does and your team acts the exact same way.

 
ProdigyOfZen:
honestly man why cant you just be happy that you got a freaking oil trader position. 99.9% of the world does not have your position and you are STILL not happy.

wtf

I can't agree with this more.

I banana back
 

Inventore sit aut qui accusamus quam voluptas. Perspiciatis quia ducimus velit ut. Quia eveniet non non aliquam. Autem adipisci et nisi soluta impedit unde in.

The dragon dozes off in the spirit which is its dwelling.

Career Advancement Opportunities

April 2024 Investment Banking

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

Overall Employee Satisfaction

April 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

April 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

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (145) $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
Betsy Massar's picture
Betsy Massar
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
99.0
5
GameTheory's picture
GameTheory
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
kanon's picture
kanon
98.9
9
Jamoldo's picture
Jamoldo
98.8
10
numi's picture
numi
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...”