Shell Trading Questions
So I am new to the site but I've been looking around quite a bit and seem to be unable to find a few things. Any help here would be much appreciated.
First off, a little background on me. I am finishing up a petroleum engineering degree and have recently accepted a job at shell oil company as an engineer. However, I am very interested in the trading side of things. That being said, I am hoping to spend 1-2 years as an engineer and hopefully move into trading as soon as possible.
Now to the questions,
What is a reasonable expectation for total comp as an analyst and then trader?
What is the typical timeframe to go from new analyst to full-fledged trader? Any details on the training program would be helpful.
What is a realistic expectation as to hrs/week to be good in trading at a place like Shell in Houston? (I have no aversion to working hard, I just want to know what I can expect).
Is an MBA worth it? How about Tulane's energy trading program?
Again, thank you for the help, I appreciate it.
1, get the job first 2. can be few weeks to few years 3. hours do not equal good or bad but i work about 60-65 4. yes. tulane energy program is a masters not mba
i was about to say "monte's your man"...then he proved me right.
Thanks monty09, but perhaps you might be able to clarify a little more for me?
While I appreciate the sentiment that without getting the job, the pay doesn't matter much, the main reason that I am asking is that I can't seem to find it anywhere else and it may impact in what order I try to do things. Specifically, I have heard that oil companies pay a little less than the banks to trade, so any overall numbers I may find will likely be skewed higher than they should.
I have heard that at BP it takes 3 years, but I was wondering if I should expect the same from Shell. More to the point, should I be thinking in terms of weeks or years, since that is a pretty huge spread?
In regards to the MBA, I have read a few places that if you can get into trading without it that it doesn't help much, would you agree with that? With respect to Tulane's program, say I do get the job; at that point is it worth it to take a year off and go to Tulane or should I stay and gain experience? I'm thinking that long-term I want to keep as many doors open as possible, and either Shell/BP or an energy-focused HF sound like a great fit with both my interests and long-term financial goals.
Thanks again for the help. I imagine these questions have been asked before, but I just can't seem to find any shell or oil-company specific information.
monty09, do you know if shell's trading development programme is similar to bp's? or does shell run things a little differently, i.e.its few weeks/few years --> book. thanks
As always sir Monty answered most things.
Pay - You should really not care about pay since your a long way from such things to begin with. All the major firms pay for PERFORMANCE, meaning those who do very well are paid well. Either way be it a bank or a utility or a oil major or a fund, you will be making a hell of a lot than being an engineer (besides ofcourse the executive level).
Path/Timeframe - That is BP's new grad program, yes it takes up to three years and most of them used to go on to being gas traders. At Shell or any other major. They have trader development programs which are all inhouse, meaning you have to work for the company in another area for 1-2 years be a very very high performer than you get to apply to the program. The program takes about 18-24 months which at the end hoping your useful will land on some desk in a junior trading role.
If you do not get into the trading development program, you would need to fight your way into commerical or trading unit. So maybe a mid-office/back-office role and then lots of hard work and networking.
Hours - 10-12 a day. Depends on the product, time of year, market elements. Would say a day of less than 10hrs consistently is basically not feasible.
MBA - Would say its useless, unless the firm is paying. It may let you cut the timeframe. Banks like MBAs more though I guess.
Thanks guys for the responses. I'm glad to hear that I won't be taking a pay cut, as I'm starting a smidge over 6 figures total comp. as an engineer. The biggest reason I was a little concerned is that my wife is still in school and I was a unsure what type of pay-cut I might have to take as an analyst - and for how long. From friends I have heard that I might make 70ish total comp. a year to start, so I was trying to establish if that was legitimate or not. Thanks again.
you will take a pay cut.. we had some banking analyst take pay cuts to get on our desk
I will post more in depth this evening
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