What things I should consider before joining a small gas or power trading company?
I rejected offer from a company for gas trader role which was based in Germany. This was a unique opportunity as they wanted to train me for 6 months and then give me a book to trade short term spec positions in natural gas. They started hiring process saying this role was based in London and then in last moment tole me that they don't have resources to train me in London so I will have to relocate to Berlin. I didnt feel right that they asked for this huge change in last moment. Its a new firm and some traders who are running it have experience of 5-8 years. I don't have issue with relocating. If it was EDF or Centrica then I would go to Antarctica for a year. Now I have another interview coming for a Power trading firm which is based in UK. Same thing for this firm....they have an office in Australia as well but the Director has only 10 years of experience. I checked LinkedIn and there are no big traders working for their company.....so I just want to know how I should judge if these firms do actually have some plan?
I will give some info about my profile....I have 4 years of back office experience in a bank and then I came to London, completed a masters from a good uni and then got opportunity to work on a prop gas trading desk for a year. So I have rebranded my CV......Don't ask me why I am not staying to work as an analyst in current firm....
I think a good first step is seeing if there are any Bloomberg/WSJ/FT/Other Industry Publications articles mentioning the firm - it’s not a sure fire tactic but gives a sense that a firm is big enough to be spoken about. If it’s a new shop then your next bet is to see where did the existing talent get their experience i.e. from utilities, majors, merchants, banks etc. If they come from a reputable name then that should add confidence - again not a surefire bet but is a good indicator. Not sure what the concern is with a director with ‘only’ 10 years of experience, past 10 years in the European power markets have been volatile so its a good sign that person has managed to stay the course. Going forward I wouldn’t look past an opportunity in Europe - the continent offers a lot of great opportunities.
I am a bit sceptical about firms started by no name traders....there are two firms in London named Dare and Onyx who probably have the worst culture among all the trading firms in London. And this firm where I am going to interview has some similarities with these firms.....this company has never been in any news....but I guess I should get my experience as a trader and get through it.....
stay very clear of dare and onyx lol, I guess the one most similar to them is Mandara.
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