can anybody shed some light on this role? is it operations or what?
s://.adecco.com.sg/transport-shipping-logistics-jobs/documentation-executive-derivative-contracts-oil-trading-/1060932 |
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[QUOTE=Unregistered;95621]The annual is good! Much higher than banks. Banks nowadays are unable to give so much bonus. Mind revealing how much increment did you get when u made the jump from bank?[/QUOTE)
I have been in the company for 1 year. 20% increment when I left the bank and I just got my increment in Feb. You are right, I used to get 3 to 4 months in banks. But over here it will be at least 5 to 6 months depending on performance. I would be staying on and not return to the banks for now, really doubt I can get this much bonus else where. |
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Is the increment at oil better than bank? Saw some openings on jobstreet in oil mnc, was thinking to give it a try. Currently I'm in financial institution doing ops.. what were you doing in banks before this? I only have ops exp and none in credit risk... |
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Answer to your questions
1) Is trader a sale-based job?
Ans) Sales is too general to begin with. Some may have monthly target to meet and some may not and remuneration can be based on profit made, it all depends. A trader may or may not have sales target it depends on the company's role in supply chain (Refiner or Trading house) or individual company decision. 2) What is the differences between trader and broker? Ans) Trader is someone who bought the product before selling it. Broker is someone who broke a deal to get commission or profit from the deal between two trading entity. 3) Do trader do physical and paper trading? And what are being done in the trading process? Ans) It depends on the trader's role. Physical trade may or may not need to be hedged depending on the flat price risk. You can be a pure paper trader as well. Physical trade is just like buying physical goods and arranging logistics to deliver it to the buyer's delivery place (fob, cfr, des etc..). All cost involved needs to be accounted for. Paper trade is just like trading common shares, going thru exchanges mostly. But some may be OTC etc.. Like Forwards and Futures. Find out more on their characteristics. 4) What is the general starting pay of a junior crude oil trader? Ans) Never heard of a Junior Crude trader oil. You might wanna try searching for an assistant trader role. I am sure u can find it out urself man. : ) 5) Which are the famous and big companies that are focusing on crude oil trading? Most NOCs and Majors and some private companies dominating the oilfield in those south american countries. Thanks, Compassionate Oil Trader Quote:
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Hi, I currently have 1 year of exp in trade finance in a bank and I wish to get into a trading firm, maybe as an operator or in a support function due to my lack of experience. Not sure how relevant trade finance exp is to a trading firm (not necessarily oil), but how possible is it to make this switch? I've been applying to roles, including those for fresh grads for a few weeks now but have got no replies at all.
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That said, the industry is small and there are just that few good candidates in the market. Every switch will possibly give you at least 30% increment. |
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Keep trying
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1) Try to do more research on the list of relevant companies and roles available within your reach. 2) Prepare yourself well for interview 3) Learn and seek for a bette role 4) Repeat above = ) |
Is there an 'unspoken' age limit that one can make the switch to trading within the same org from a support role eg. risk or operator?
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Oil trading is in decline. With the current focus on clean energy, governments and even the ordinary citizen are "punishing" oil consumption. Used to be damn prestigious to be working in those big international oil firms such as Shell, ExxonMobil, BP. No longer the case today. Oil demand has plunged due to covid and these firms have all been hit badly, with many even having to retrench. A good part of the annual salary for these firms come from bonuses. I expect the bonus to be paid out this year (for 2020's performance) to be miserable, potentially zero.
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The way BP structures their packages it's not so bad even if you get a 1-2mth bonus payout. Base figures are very competitive already. |
Sorry I’m super new to this industry but recently went for an interview with a bunker company.
May I ask if a sales exec role in a bunker supplier firm is the “broker” or “trader” that you guys talked about here? Is it a good career choice as I’m thinking of making a switch to oil & gas. Is there hope in the industry now that countries are rolling out vaccines and air travel bubble? Thanks in advance for any replies! |
This industry so secretive and full of crooks.
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