power prop trading vs CCI rotational trading program

What's good WSO

I have two offers in hand one with a power prop trading firm and from CCI's rotational trading program.  The prop firm would be as a junior trader and pays conservatively 1.5 more (probably closer to 2x) first year.  Anyone have any advice on how to approach this decision?  This would be my first position out of school

 

For CCI, it's around 120k (signon+base) and not sure on projected bonus (I would assume not that high during rotations).  I would have 3 rotations as a research analyst on financial or physical desks doing trading analysis and risk management.  After that, i will either be permanently placed on a desk (as a junior trader or some sort) or do another rotation then get placed then (or not I guess).

The other opportunity is purely spec trading on power.  

 
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Where do you want to end up in ten years?  Both in Houston?

CCI will rotate you through most business lines which will give you both a broad commodity experience AND group rotation (Sales, trading, structuring, mid office/risk, fundamentals)

Power trading for a fund, (by the way, what KIND of fund?  FTRs?  Upto?  DART?  liquid term?  Or god forbid...term?) will potentially provide a quicker route to a seat, but comes with insane amounts of firm risk to get there.

What regions (PJM?  ERCOT? CAISO?) will you be looking at?

You will go gray much quicker at the fund, but could be done by 35, if both you and the firm are profitable.

Ask this question.  If the fund folds in 18 months, what is your plan?  Do you like trading? 

I want nothing more to see more folks going into power and gas, but be VERY careful of being an unemployed 27 year old witg 5 years experience trading CAISO DART only.

Congratulations and welcome to the suck!

Namaste. D.O.U.G.
 

Thanks for your reply,

I’ll be trading virtual (inc/dec) and FTRs in some northeast market (I’m assuming PJM). The firm (only trades power) seems conservative but very lean. If this helps at all clarify the situation.

 

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