Trading (Crude oil)

Originally Posted by Unregistered

Hi, are u in the trading line? mind saying if u r operations, risk or trader??

Hi I am in the trading line, risk function supporting the traders.

Originally Posted by Unregistered

Hi I am in the trading line, risk function supporting the traders.

That's quite high given the oil price now! R u in a big firm? How long have you been in this line ?

Originally Posted by Unregistered

That's quite high given the oil price now! R u in a big firm? How long have you been in this line ?

Yes I have a good performance grading, I think this is considered good given the environment now. Yes I am in a big firm. Been in this line for close to 4 years coming June.

Originally Posted by Unregistered

Yes I have a good performance grading, I think this is considered good given the environment now. Yes I am in a big firm. Been in this line for close to 4 years coming June.

Are you in the trading arm of those oil refinery companies like shell etc or a commodity trading house? Mind sharing your experiences and how the industry works? What r the diff between working for a trading house or oil refinery companies etc??

Originally Posted by Unregistered

Are you in the trading arm of those oil refinery companies like shell etc or a commodity trading house? Mind sharing your experiences and how the industry works? What r the diff between working for a trading house or oil refinery companies etc??

Different poster, but I doubt guy on top is from big oil. I am familiar with trading org in BP & Shell, they don't pay traders that sort of salary & bonus. His pay level if big oil is for trade operations support which is no different from other support departments like finance/it/marketing etc.. Ops support is not considered oil trading, they are more back office providers for traders who are theinternal customer.

Originally Posted by Unregistered

Different poster, but I doubt guy on top is from big oil. I am familiar with trading org in BP & Shell, they don't pay traders that sort of salary & bonus. His pay level if big oil is for trade operations support which is no different from other support departments like finance/it/marketing etc.. Ops support is not considered oil trading, they are more back office providers for traders who are theinternal customer.

Is risk management considered as back or front? I have a friend who said he was in the front office but isn't a trader...

Originally Posted by Unregistered

Is risk management considered as back or front? I have a friend who said he was in the front office but isn't a trader...

Unlike investment banks or trading houses, big oil does not organize itself as front or back office. To them there is only trading (i.e. those on the good pay & uncap bonus) and others which include any support functions which drawn ordinary pay and bonus.

One can be anal and insist that being a support is FO because you provide supporting services to traders, but at the end of the day if you are drawing 5k with a few months bonus just like any other support function, then does it matter whether you call yourself FO or BO?

The only reason why some folks are hung up on defining themselves as FO to outside world is because of this general perception of prestige and high pay. Internally say in BP or Shell, if you tell another co-worker you are a risk analyst in FO they will give you the "har what talking you" look.

Originally Posted by Unregistered

Yes I have a good performance grading, I think this is considered good given the environment now. Yes I am in a big firm. Been in this line for close to 4 years coming June.

I am this poster. I was from banking and then went to oil company. Oil industry is much more dynamic. Yes we dont differentiate BO or FO.

Originally Posted by Unregistered

Unlike investment banks or trading houses, big oil does not organize itself as front or back office. To them there is only trading (i.e. those on the good pay & uncap bonus) and others which include any support functions which drawn ordinary pay and bonus.

One can be anal and insist that being a support is FO because you provide supporting services to traders, but at the end of the day if you are drawing 5k with a few months bonus just like any other support function, then does it matter whether you call yourself FO or BO?

The only reason why some folks are hung up on defining themselves as FO to outside world is because of this general perception of prestige and high pay. Internally say in BP or Shell, if you tell another co-worker you are a risk analyst in FO they will give you the "har what talking you" look.

how well does big oil pays?? i know someone in risk and his starting pay was 4k plus, and he wasnt even in shell, exxon or BP. Does support function really pays so well too? If big oil pays a fresh grad so well for a support function, it seems like a better choice to work in oil than banks!

Originally Posted by Unregistered

I am this poster. I was from banking and then went to oil company. Oil industry is much more dynamic. Yes we dont differentiate BO or FO.

mind sharing your job scope? i believe risk has market, credit risk etc??