Insight into Macquarie Commodities?
Have seen some prior threads on Macquarie regarding their prowess in gas and how great of a spot it can be but I am assuming thats for people who got the FT offer from having done their commodities & global markets SA. Would this also apply if one is starting at the physical logistics desk (supporting all physical commods they have)? I know it's pretty hard to move up internally due to a lack of turnover, so would an opportunity like this be helpful into making it into a TDP at a major / moving to trader at a merchant house? Any insight would be great.
back in my ags days they were very well regarded fwiw. A few of the guys I knew there are still around. Would assume their energy desks are good as well, but just speculating based on their rep
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Yeah best bet is to go to a TDP directly - easier path. I’m at one of the TDP shops and think of Macquarie positively though. TDP is just a faster/or at least more guaranteed way of getting a seat
Would you say it would be easier to move one of these TDP shops if you come from Mac?
All I know is head of commodities in Houston left for another gig and they immediately starting firing people under him and below who had just joined and had nothing to do with his leaving. Sounds like a shitshow and there is tension between the IBanking side and the commodities/hedging side. Im not going to pretend to understand the place, but just beware if you start playing around in non US banks.
who was this?
Nick O'Kane
I wouldn’t say that scheduling at Macquarie is particularly advantageous for a TDP application over scheduling anywhere else. Relevant job in the same industry- passes the hr resume screen most likely, but not something that stands out. BP TDP is for college grads, Shell TDP is for experienced hires (and mostly existing Shell employees).
I see. I am looking for an entry-point into the industry, so was trying to assess what the next move from a position like this would be. Thanks
Full time TDP at a major is better. You'll likely not jump from ops from Macquarie to a junior trader position in a physical place. Why would they take you in when they have their own pipeline. Though if you were to become a trader there then you can jump into trading depending on your experience. however, absolutely go for it to get your foot in through the door. Do understand that it will be a few years before you make it into physical trading. I suspect path to a paper trader would be easier at a bank.
I appreciate the advice. Obviously, not going to discount any learning opportunities to get my foot in the door and will likely use this as a bridge to gain access to a TDP at a major (have had previous rejections at these before) given the advice others have provided and since I've had trouble breaking in.
Untrue for Mac. I know somebody who started as an analyst and became a physical trader. They like to just train people who come in as analysts. I could see an argument for Mac > TDP because they pay fairly better and if you get a chance on a desk, I’m sure the flow is from TDP —> Mac. Issue is becoming a trader is not a sure thing like TDP.
Is the typical timeline to making trader at Mac greater or the same as the standard 2 / 3 years you see at the TDP programs? Also noticed they have phys teams in NYC and Houston - would there be a material difference between these? Have seen some people argue in favor of Mac before so curious.
The analyst to trader pipeline exists at Macquarie because Macquarie is a bank and analysts at banks are both a job description but also a rank, and the expectation is for them to progress in their vertical. They don't have to trade if they don't want, but it's not as sharp of a delineation. Analysts go to be associates, to VPs, etc (or the Macquarie equivalents of executive, manager, vp, etc).
Unlike a bank where analyst is a rank, "analyst" at a major or tradeshop is solely a job description and there is no expectation or path in and of itself to progress. If you want to transition to a trader or anything else as an analyst there- you need to network/negotiate/prepare/take tests.
However, the relative fluidity between front office analysts at a bank into trading does not extend into logistics. That is a separate vertical entirely, and one would need to transition onto a desk. Not sure how often that happens but I don't think it is very often.
In short- analyst at Macquarie vs TDP- tougher one but I would still take TDP even if it pays less at the onset because it's a recognized program and is designed to train people in a structured way vs desk analyst which could go in any which direction depending on which desk you are assigned to. Ops at Macquarie vs TDP- much easier to make the case that TDP is better.
Analyst to a physical trader? I would be surprised unless he/she had ops/physical experience elsewhere. Paper I can see that happening.
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