Energy trader educational background?
Just look for some thoughts on this - I'll be starting an MS in geology at a top grad program this fall. The plan is to work as a petroleum geologist after graduating; however, I've recently been thinking about a career as an energy trader. How would this kind of background look to an employer compared to a MBA? I'd expect to live in Houston either career path.
With that type of background people usually go do something with an E&P company, helping find reserves and prove them up, not necessarily trading or pricing them, but I guess it could be done.
Yeah, that's what I was planning. It'd be a good career with interesting work. Likely make more than a trader at first too - average starting salary is about 85k, but of course a good trader could make far more after a few years. I've no related work experience, but from the reading I've done I think I'd enjoy both careers so why not go for the one with the most long term earning potential?
Anyway, I know I'll be very well positioned to go into exploration, but I'm not sure about trading. I should be able to take a few classes from the B-school as part of my MS and I'll try and get an energy trading internship for next summer. Any advice or comments from traders?
Degrees for Energy Trading (Originally Posted: 05/14/2014)
Hello all, I'm a junior who will be applying for college in roughly 3 months. I wanted to run by my plan for college degrees and hopefully get some feedback. I would like to get into trading, probably energy trading, as I currently live in Houston. I'm planning on getting an undergraduate degree in engineering (probably chemical or mechanical, or would any other engineering field be better?) and then an MBA. I'm considering UT-Austin, Texas A&M, UCLA, Michigan, and Georgia Tech (all top 20 engineering schools). Does this path set me up for a career in trading or should I direct my focus towards a different degree? Also, are these colleges good enough?
Since you want to do energy trading, could you do a petroleum engineering undergrad? I've seen a few of the top engineering schools offer that. Then if the trading bit doesn't work out for you, you can stay in Texas and work in the oil field and still make a ton of money.
Go to UH and get into the GEM program. Very rigorous mathematically plus they have some high caliber energy courses there. Personally engineers are kind of looked down on when it comes to trading. I think they are too rigid and structured and markets are the opposite of that. Just my opinion.
I regret we don't recruit there anymore, we had some great talent come out of the GEM program. No idea why we dropped UH.
Go to UT-Austin, energy finance degree or petroleum engineering are top ten. I chose energy finance and had an internship at a supermajor's trading floor and will be working full-time at a BB commodities trading floor. Can't say enough positive things about the school, the programs, the teachers, and the social scene.
Disagree that engineers are looked down upon trading, but engineering is definitely more difficult than a business degree and while it could give you an edge, that's no guarantee for recruiting and the rigor/social trade off might not be worth it.
Texas/A&M/UH are fine for super-majors and a few BBs. Noble/Trafi/LDH tend to look for ivy-league graduates.
Engineers are looked down for trading roles. Engineers due better in quant or software development type roles. I've spent over a decade at various prop firms so this just my opinion.
And Noble/Trafi/Vitol etc recruit everywhere. Don't believe me? Go on Linked In and do a search for those firms and look at the backgrounds. Before I went to UH I was concerned about that issue as well. What relieved those concerns was a little bit of research and I saw that every major integrated firm, prop firm, hedge fund, etc had UH grads.
And btw, it's not a question of difficulty, it's a question of knowledge of the industry and personality type. I know some freaking geniuses that I would never give money to trade. It's not a question of how smart you are.
In Chicago there were two things you could put on your resume that almost guaranteed you an interview. Playing sports and playing poker.
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