Welcome to post number four in our series of profiles of jobs you can do with a language. This week – oil seed trading!
What does the role entail?
As the job title suggests, the role involves trading oil seeds! A financial role, you would assist the head of trading, buying oil seeds from farmers and selling them on to companies to make olive oil. That means negotiating the best trade prices possible with all parties involved. There are also traders for other crops such as cocoa beans.
What languages are needed?
A range – what language is needed depends on what market you’ll be covering. If you need to liaise and negotiate deals with farmers in North Africa then French will be required, other companies will need linguists for the German market, and so on. Continue reading
The recession – it has affected different people in different ways. For some it’s been an opportunity to buy a house at a great price. But for others it has meant losing their jobs, and that’s what happened to Thomas Brause, an ex-trader from Frankfurt. We recently came across this story and thought we’d share it – it’s not your everyday career move!
When he was made redundant from his six figure salary job in December of last year, instead of harnessing his skills in a job paying around half his previous salary, Mr Brause decided to make a radical career change. He now sells Bratwurst on the street near his old office, from a converted bus he bought online. According to the BBC he said, “These are real things, not abstract things. You can touch them. I deliver something and I get something in return. It’s more satisfying…As soon as people get to management level they dream of this, and this was a dream of mine for a while because I was pretty fed up with my job too. The office politics was terrible.”
So it seems that this career move was a good one for Mr Brause – although he admits that he’s still stressed and works 14 hour days! So, if you’re not happy in your job or find yourself a victim of the downturn, be reassured that there is always another option.
However we can’t help but think that if he’d have used a recruiter he could have got some career advice and perhaps taken a slightly less drastic change in direction. If you’re job hunting but don’t like the idea of selling sausages, come and speak to Euro London!
It seems that even in a recession, some companies are struggling to attract and retain talent – but not for the reasons you may think.
It makes sense that clients have become fussier in this tough economic climate (which reports suggest that we’re moving out of now – let’s hope they’re right.) With so many more candidates on the market, clients now have the upper hand and they want as much value as they can get. Whilst recruiting for trading / broking houses over the last few months, I’ve seen a growing trend for clients asking not just for professional and experienced candidates, but ones with their own transferable client lists. Because that way the candidate can hit the ground running and start generating revenue as soon as possible, can’t they?
Well, it’s not proving to be that straightforward. The problem seems to be that many agency brokers don’t have an in-house research department – a service that will look at market trends, what people are investing in, market prices and publishing research and advice on issues in this area. But many companies want just that – an agency that offers a full brokerage service. I recently had one candidate who was offered a job in this area and had their own client list that they could use in their new position. After talking to their clients about the new company, many were not happy that they wouldn’t be working with a company with its own in-house research department that could offer the fully incorporated package. Although the candidate ticked all the right boxes for the job, their new employer didn’t meet the criteria required by the candidate’s clients. Despite being offered above average commission and bonuses, the candidate ended up declining the position.
Organisations may think that financial rewards are enough to retain talent in a recession but it seems that this remains a secondary concern. The bottom line is without the best service offering, companies are losing out on the best talent – and with talk about the upturn increasing, this is something that they cannot afford to do.
Entry by Maurice Christie of the Euro London banking and finance team