Recently got an offer to join a boutique as a RT power trader (I have no background in power btw) at a boutique. The pay is probably going to be 150k all in from conversations (given I'll need training). Am i shooting myself in the foot by going to a smaller shop? I'm not familiar with the industry, so not sure if I should try to join a bigger name shop.
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DM me. Lots of recruiting from power firms now.
Why do you want to go from equity derivatives to power?
dm'd
I'm also in the equity space and have been eyeing some power /gas trading roles. Interested to hear why you are entertaining the move and how you found the interview process if you don't mind sharing some more!
why are you interested in gas/pwr roles?
In brief 1- I feel it is easier to get into a trading/material risk seat 2- you don't need to live in a financial centre
Welcome! Welcome to our tribe. It is nice to meet you. Please take a seat and enjoy a great market with fantastic people, great WLB, and compensation that would make 99% of Americans jealous.
There are many of us here. Feel free to ask questions.
hehehe
RT power is an entry level job. Zero idea what a “boutique” means. Majority of top power shops are small while the gorillas trade terms etc..lots of niche areas in power.
Makes sense. Is there like a comprehensive list of these firms that I can find?
If you're already on the desk, look up transmission reservations that firms are grabbing for the flows you're most familiar with to get a better sense of who the major participants are and the motives behind getting that tx. Usually, it's good enough to decipher whether they're flowing DA commitments or bidding hour to hour or just scheduling generation etc
Feel free to DM me. But truly very tough. Best bet is maybe looking at list at an ISO.
I'll echo Marcellus...
Way way too many. Take all the ISO member lists. Go to FERC and download Form 1, 714 data etc...or IF you want to wade though it all....
https://eroportal.nerc.net/NERCMembershipList/
Depends on what kind of trading your wanting to do. RT is typically entry level. But it will be a fantastic way to learn the fundamentals and how spot prices are set. Biggest problem with boutique firms in this space is that they probably will have trouble getting credit. Capital requirements in this business can be huge. But you can always learn the industry and move elsewhere in a few years. Demand for power traders is high and only going to continue to grow so I think you'll be fine in the long run.
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