Wet Trading - Prospects

[aimhigh]

Hi all, I had my doubts about an actual community here helping (lots of slagging and outright lies going on) but here I am, out on a limb to try and request some friendly advice from the seniors here.

I'm thinking of going into Wet Trading as a Junior Trader, meaning bulk (Gasoil/Naphtha/Fuel oil/CBFS) and/or speciality commodities (Methanol/BTX's/Aromatics/Acid).

I have 5 years background as a shipbroker in small tanker markets for Vegoils/Softoils/CPP & Chemicals. I am now working in a shipowning company for the last 3 years, and am now aiming higher.

As a shipbroker, my last year including bonuses was SGD 130k, all in.
As a shipowner, my financial year ending 2011 my package was Euro 142k.

I know getting into trading is kind of a "Old Boy's Club" you won't get in without connections. I have connections but it's not convenient for me to ask around for annual packages without it getting back to my company that i'm sniffing around.

Would anyone be able to advise, roughly what kind of annual package for an unproven Junior Traders are out there?
I've heard ranges between SGD6k/month + 13th month + 2-6 month bonus, until SGD12k/month + 0-9 month bonus.

For a frame of reference, I'm thinking of joining one of the big 4 trading houses, G/K/V/T am not keen in joining those Oil Majors, i know I will not gel with the culture of an oil major.

Originally Posted by aimhigh

Hi all, I had my doubts about an actual community here helping (lots of slagging and outright lies going on) but here I am, out on a limb to try and request some friendly advice from the seniors here.

I'm thinking of going into Wet Trading as a Junior Trader, meaning bulk (Gasoil/Naphtha/Fuel oil/CBFS) and/or speciality commodities (Methanol/BTX's/Aromatics/Acid).

I have 5 years background as a shipbroker in small tanker markets for Vegoils/Softoils/CPP & Chemicals. I am now working in a shipowning company for the last 3 years, and am now aiming higher.

As a shipbroker, my last year including bonuses was SGD 130k, all in.
As a shipowner, my financial year ending 2011 my package was Euro 142k.

I know getting into trading is kind of a "Old Boy's Club" you won't get in without connections. I have connections but it's not convenient for me to ask around for annual packages without it getting back to my company that i'm sniffing around.

Would anyone be able to advise, roughly what kind of annual package for an unproven Junior Traders are out there?
I've heard ranges between SGD6k/month + 13th month + 2-6 month bonus, until SGD12k/month + 0-9 month bonus.

For a frame of reference, I'm thinking of joining one of the big 4 trading houses, G/K/V/T am not keen in joining those Oil Majors, i know I will not gel with the culture of an oil major.

what are your waiting for, i am getting $20k per month +5 mths bonus after 2 years and these are not even good years for oil due to us dollars.

i'm also doing vegoil shipbroking. been working for 4 yrs. currently i'm getting only 50k a year. is this very little? what is the market rate?

Originally Posted by shipbroker

i'm also doing vegoil shipbroking. been working for 4 yrs. currently i'm getting only 50k a year. is this very little? what is the market rate?

160 - 200k inclusive of bonus & incentives

thanks mate. may i know what is the break down for 160k to 200k? how much is basic and bonus each? and are u sure its 160k-200k? it seems very high.

this kind of pay levels are only for the big shipbrokering firms or the smaller ones also pay this levels?

just curious, u are also vegoil shipbroker or also in the industry?

bump******

[aimhigh]

Originally Posted by shipbroker

i'm also doing vegoil shipbroking. been working for 4 yrs. currently i'm getting only 50k a year. is this very little? what is the market rate?

I was doing vegoil shipbroking when i first started out too.
1st year was $40k/annum no bonus.
2nd year was $80k including bonus, but started doing Products as well.
3rd year was $110k including bonus.
4th year was $170k including bonus (good bonus)
5th year was $130k including bonus (bad bonus but basic salary was higher).

Yes you are earning quite low.
My guess is you are working at a local Asian sweatshop like Ea___ , Mc___ or Ra___ .