Energy Trading 75k vs BB SnT 115k
Well, have some choices to make! WLB significantly better in Energy (40 hrs per week)...
Thanks in advance!
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Commodities at the BB? Also what bank pays 115k base?
Will be somewhat Macro desk at BB (Fx Rates derivs etc). Versus Power at an energy firm. Not Oil Major. Not in US so numbers are converted to USD.
Don't worry about base when first starting out. Find a good firm and good seat and you'll be rewarded for it.
Agreed, but tbh progression in Energy is still quite opaque to me. (Intraday Eur Power)
I'm also in energy trading. One of my mentors who used to be gas trader at goldman told me :
"If I was younger and could try to get into anything right now I think it would be power trading. Renewables, EV’s, Data Centers, AI, Coal Retirements are going to give power markets hyper volatility for the next 10+ years.
I think if you buy into that thesis and want to get your foot in the door this is a really good opportunity."
You're in the right product group for sure
I am actually in the same boat. Got a return offer to a macro desk in a BB bank, but currently interning in another prop shop doing EU ID power trading. Half the base pay (62k vs 115k) but after adding weekend shifts, it could match the base BB pay. Altho, it just feels like the space is getting more and more competitive as there are a lot of new players entering the markets in recent years (ie one of the largest hedge funds poached an entire power/gas trading team to set up a new trading desk there).
On one hand, i think i get into a good team in the bank with a good boss and will get to trade 1 year after joining. On the other hand, I already get to trade as an intern and intraday power is interesting since you will be looking at the whole continental western european + the UK markets. However, the working hours are actually not as fantastic (need to work weekend shifts for 12 hours a day), also the prop shop actually does not have the best tools as compared to other bigger shops. Again, not sure about the prospect down the road and how to progress as an ID power trader. Quite in a dilemma here.
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