I was wondering if anyone here is or knows electricity traders. What kind of money can be made trading power? What do the guys who start out working on the desk make? How long does the average guy working on the desk take before he becomes a trader? Thanks
I trade hourly power for an energy merchant on the west cost. It usually takes a few years to get on the desk. Most people I have seen start in the back office and work their way up. Hourly trader 70-100,000 plus 0-50% bonus; 0-5 years experience (also depends if your working for a marketer or utility). BOM/Day Ahead Trader 100-150,000 plus 0-50% Term Trader 150,000+ plus 0-200%
If you know someone or have a connection, you can start out from day 1. It's actually relatively easy. Ole boys club, yes it is. You're in Houston, that's the heart of electricity trading and brokerage. Just start applying. Try this: http://www.powermarketers.com/pmajobs.htm
I was sort of offered a job to work on the trading desk. I dont know much about it. What do these guys do? Are the guys on the trading desk making much money? I heard they work crazy hours. Something like fifteen 12-15 hour shifts per month. Do these guys work overnight? Weekends? I used to trade and recently got into the real estate investing business. In one month of work I made 16K with the potential to make that much per month. It would take something pretty good with a lot of upside to get me away from RE investing. Thanks
My brother in law traded energy until about 4 years ago. All said and done he was pulling in about $200K
I just rounded these up for a friend of the family that's looking at a similar role...Yes, real time does involve rotating between days, nights, weekends and holidays as power is traded 24/365. http://www.chron.com/disp/story.mpl/special/chron10001/911998.html http://www.usatoday.com/careers/dream/dream054.htm http://www.vault.com/nr/newsmain.jsp?nr_page=3&ch_id=249&article_id=25033784&cat_id=2951 http://p075.ezboard.com/Career-QA/fenergytradersfrm12
A good friend of mine was trading at Mirant in Atlanta. He did the night shift for a few years then eventually had a regular shift. He recently moved to NYC to work on the Barclay's power desk. I don't know how much he makes. If I had to guess I'd say somewhere between $200,000-$300,000.
im not sure if i have the terminology correct. are the guys that are on the desk the same as traders?