I’ve heard traders in S&T get something called an SIP on top of their CIP. Is S&T the route to make the most $$$ in the company?
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The pay might be better in S&T but the downside is having to work in S&T. Culture is very poor, GW was a joke, CP a head office climber, and JK is a serial micromanager.
Yeah we have a terrible S&T people strategy. Basically we can NEVER compete with the trading houses as they give literally millions in bonuses to good traders. So we get competent traders that are not wanting to work 80+ hour weeks or too risk averse to succeed at the trading houses. We should just compensate them like all other employees but we try to give them trading incentives. What I see is they learn where they can get "sure things" and just coast to good trader bonuses.
For reference XOM basically says "nope we cannot compete with trading houses". And just focuses on flow. Honestly I think this is better as we have a revolving door with little tangible gain.
I thought we had greatly reduced our crude oil hedging?
Every few years Chevron losses a fortune hedging, discontinues hedging and a bunch of traders are let go.
trader sip is roughly 30-75% of salary pending performance