Hi all,
I am a young EU power trader. I'm in a solid seat at the moment with good PnL and relatively close to making decent money.
I have recently been disappointed with some management/partners/senior traders decisions and I am not confident at all that my current company will be one of the industry leaders in 10 years. Furthermore, I work in a relatively niche market with low scalability and I want to learn about other products but my current company cannot deliver this. My learning curve is already flattening less than two years in. I feel like the company is sort of a dead end; either I stay there for 20 years and hope to get very rich, or I leave this year or the next.
I am in the final round for a job as a trader at a more established company with a wider variety of products and a more experienced team. However, they don't trade my market and I will need to be cutting on salary and bonus for my first year of working there. Hence, it's sort of a jump in the dark.
The whole scene is very fresh so I feel like I just need to be learning as much as possible from different people while I'm still young.
Would it make sense to do this? Or am I just an arrogant Gen Z'er that just needs to take the money and keep grinding.
Cheers
Sometimes you have to move down a rung to get on the right ladder. If you're young enough to absorb the comp decrease and this new place has better growth, you may be better off.
totally get your sentiment. If you're young enough and have no obligations, you should move.
Either you're paying to learn or getting paid to do stuff
Taking a step back is worthwhile, you are still very junior in your career
Take the pay cut and grind. If you can live within your means with a reduced salary then do it.
It would be easier now than later, and you will thank yourself later in life when you can lateral across different shops because you have generalised knowledge. Being in a niche can reap rewards but you’re counting on luck.
Why would you leave one of the hottest sectors currently that is super key for the next 5 years. Do you dislike power that much? This other company better be really worth it.
It's still power/renewables/carbon related
Very unusual for “established” firms to make you take a paycut unless you are like at a prop firm now or so. Or you are applying for a rotational style program. How significant is the paycut?
Your job needs to provide one of two things - either learning or money. You need to be getting at least one of those or you need to leave asap, if you are getting one that’s nice and hopefully the rest is tolerable, once you have both then you know you’re set at a place for at least some time.
Think its what you want to do 10 years down the line. If you want to stay in sell-side trading I know people who were physical delivery exotics traders that 5 years into a career morphed into FX vol traders. So many doors open up in sell-side trading for young people looking to stay in the biz and who have a proven track record of holding risk.
If you want to want to go to a l/s rv fund in equities than yeah maybe think about switching to a different desk to gain more relevant experience right? hard. v hard but try not to think about the cash rn.
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