Graduate opportunities at commodity trading houses

With investment banks revealing ever increasing problems, independent commodity trading houses look a more attractive option for 2009, as a lot of interest centres around the sector. But be warned - places are limited and competition is fierce.

The first thing to bear in mind is that you shouldn't view this as the next best option to an investment bank. The recruitment process is just as vigorous and blaggers will be exposed through a series of assessments that make sure you've really done your homework.

Problems need solutions

"Applicants will be given specific examples of problems that we face in our business and be expected to come up with a solution, and in the assessment centres they will be given a trading simulation to undertake," says Katrin Evers, head of graduate recruitment at RWE Trading.

Sarah Cockburn, UK graduate marketing manager at BP, tells us: "It is important that students research the oil and gas industry and have an awareness of how commodity trading can differ from trading in an investment bank."

More applications than before

Numbers on graduate training schemes vary from single figures to a maximum of 20 or so, and both Cockburn and Evers tell us they're expecting more applications for the 2009 intake than in previous years. It's already around one hire for every 150 applications.

What's more, while the official line at investment banks is that they'll accept applicants with various types of degree, commodity trading houses are keen on graduates from courses like business economics or financial mathematics, reckons Evers.

True international mobility

Most of these companies will expect graduates to be willing to work in offices throughout the world.

Alistair Maxwell, head of HR at Total, says: "We tend to look for people who are at least bi-lingual and who are genuinely internationally mobile, rather than just claiming to be."

Where should you apply?

Here are six of the best:

BP

Who? We'll resist the temptation to tell you that things are so bad in the financial markets that the only option available is providing Alan Partridge with a ready supply of petrol and Kenco. Yes, this is the trading arm of one of the world's largest energy companies.

Trades: Oil and gas

Number of places: 28 globally, 6 on the graduate scheme in the UK, 2 summer internships

Minimum degree: 2.1

Deadline: 14 November 2008 for both graduate scheme and internships.

Apply to: www.bp.com/ukgraduates

CARGILL

Who? Privately-owned, US-based agricultural food company which has said that it expects its finance division to be increasingly important as volatility persists in the commodities markets.

Trades: Agricultural commodities and energy

Number of places: Not disclosed

Minimum degree: 2.1

Deadline: 30 November 2008

Apply to: https://www.ichoosecargill.com/

EDF TRADING

Who? The trading arm of the European energy behemoth.

Trades: Electricity, emissions, gas, coal, freight, biomass and oil

Number of places: EDF tells us it's still assessing its requirements for the graduate intake of 2009, but in previous years it's taken in around 10 for the trading graduate scheme. Check the web address below for updates.

Apply to: https://www.edftrading.com/fullArticle.aspx?m=33&amid=57

GLENCORE

Who? Only the world's biggest commodities trader, dummy. Originally founded in Switzerland in 1974, it now also has a UK office among others.

Trades: Metals, oil, agricultural commodities

Number of places: 8

Minimum degree: 2.1

Deadline: 14 November 2008

Apply to: Deadline now passed. Company website is https://www.glencore.com/

RWE TRADING

Who? One of Europe's larger players in the commodities space, and the trading function of Germany's second biggest energy company, RWE Group. Also took over nPower in 2002.

Trades: Gas, oil and other energy products

Number of places: 24 on the graduate scheme, 10 internships

Minimum degree: 2.1

Deadline: Hires continuously throughout the year

Apply to: trading.jobs.trading@rwe.com

TOTAL

Who? Again, fending off the urge to make jokes about selling microwave pasties at petrol stations, this is the trading arm of the large oil and gas company.

Trades: Gas and energy products

Number of places: 2-4

Minimum degree: 2.1

Deadline: Hires on a bi-annual basis, no deadline set

Apply to: https://uk.total.com/opportunities/gas.asp