What’s the DNA of your Power trading team?
After 2020 and mostly recently 2021 you’d be forgiven for thinking the hiring market remains static as those in role, stay in role. It’s not true in the energy trading market however, as the race to meet 2030 targets increases and energy transition continues.
Decarbonisation has shot up the global political agenda, while geopolitical tensions show no sign of calming down. It means the line between power and renewables is increasingly blurred. Some see this as a threat, but for the ambitious power professional it unlocks a world of opportunities.
It’s why we’re seeing an increase in hiring across the power markets in 2021 as clients look to grow and diversify their teams, and why our latest research can support you as you change and build your power trading and origination teams this year and plan for next.
Using desk research and interviews with power trading professionals, we analysed the educational background and experience of new and existing team members across Europe. We also analysed the diversity of trading teams within the sector.
Eleven opinion: It’s no surprise that across Europe those in power trading started their careers as analysts (35%) or traders (23%) but interesting engineering and operations make up 15% of those we researched.
Indeed a whopping 35% of those analysed in mainland Europe (excluding UK&I) have an Engineering degree. Whilst this might say something about the educational options in mainland Europe it does ask the question whether this would be advantageous to hiring managers and Heads of Power Trading today and in future in the energy and commodities market.
As we look to greener energy does a background or at least knowledge of engineering support the transition? As Marx puts it, “who doesn’t want to work in the future?” Perhaps now is the time to review your team’s make up – experience, skills as well as company and desk fit.
Richard Tregarthen, Senior Consultant at Eleven Recruitment comments, “I’m not surprised at the high level of engineering degrees completed by power traders in Europe. As with Maths and Finance degrees it’s all about the numbers and the thought process that goes into these degrees are of similar value to a hiring manager. Those in this market see the task and then solve the problem. I would strongly recommend my clients to look at those with an engineering degree for a power trading role.”
Not surprisingly again, 88% of those researched were male, and whilst it is widely accepted that greater diversity at all levels of any organisation brings a raft of benefits, the power trading desk continues to be male dominated.
“Until we see a bigger take up of the sciences along with numerical subjects, by girls in schools and women in universities we will always see the power trading, and the energy trading desk as a male dominated environment. We are seeing our clients challenging the make up but time will tell,” he continues.
If you would like to find out more about our power trading research or need help with diversity and inclusion as part of your hiring plans, or your next career move, contact us on +44 (0)1565 654 830 or hello@elevenassociates.com or via the contact us form.