Can someone estimate for me the starting salary for an energy trader? With no experience in trading? Trader_Jorge? Is he even a real trader?
You're about 5 years too late. Big time oversupply of traders exists right now. My guess is that somebody like mateo could give you a good idea.
Yeah it would have been nice to be in there 5 years ago, but I think it's still pretty good. And it's better than your average accounting job.
I have no idea but maybe this other forum can help. I found out it was one of the largest -if not THE largest forum- for traders of all kind. http://www.elitetrader.com/
TJ is wrong and right at the same time. There are waaay too many traders working for marketing companies with crappy lines of credit. They are tied down to transportation contracts and power plants that are destroying their company's balance sheets. They used to swing for the fences and use their creativity to take profits in a market with plenty of opportunity. Now they just buy gas to feed the plants or buy power to keep the ratepayers happy. However, there are some companies that have support and are making money on commodities. Some IBs are kicking ass in Commodities right now, and are hiring up Texas and Colorado energy traders and relocating them to NYC. The traders that work for the major local producers do fairly well, mostly because they have a good credit and a ton of product to move. However, those jobs dont open up much. Derivatives are fascinating....but it is a little more like Rocket Science than Energy Trading. Read FIASCO sometime, a good read. I dont know any inexperienced traders in Houston. I know that the analysts/jr traders in NYC dont make 6 figs base, but their bonuses get them over the hump. Associates make 6 figs before bonus. In the two trading companies I worked for in Houston, the traders were making low 6 figs for base, but bonuses carried them. Of course, 1997-2001 were the salad days. The jr traders were making around 65-95 grand before bonus. The guys who scheduled and cash traded made a little less than that. It definitely beats accounting.
why are you so interested in trading energy, when you can trade the stock market. especially from someone with no trading experience to begin with. just curious....
I live in Houston where energy is big, and I don't have any plans to move to Wall Street to trade the stock market. Also, I already have a job offer on the table. I'm just trying to figure out if it is a good offer. I work in accounting and reporting type stuff now, and it's not too exciting.
I work for an energy trading company and from what I hear from our traders..its about those big time bonuses. Good Luck.
Who I know helped me get the interview. I have a friend working as a trader, and I sent my resume through him. He talked to his boss about me and helped me get the interview. My education and job experience helped me get the job.
Well, I can tell you the company I got the offer from isn't a huge company. But it is a national firm and is pretty well known as far as energy companies.
