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Energy traders see biggest bonus increases on the street

The cost of retaining commodities traders is rising faster than comparable costs in any other area on the street, according to a new financial markets compensation report published by executive search and strategic consulting firm Options Group. “Energy has been a very neglected business for a long time, especially the area of energy derivatives,” says the group’s co-founder, Michael Karp. “Now lots of banks are trying to recruit in this area and commodities traders’ compensation packages should be up 30% from last year. It’s been difficult to find skilled energy traders for a couple of years but now the market’s getting tougher on a daily basis.”

According to Options Group, a global head of commodities trading can expect to take home $6 million to $8 million in total compensation by the time they get their 2005 bonuses. Some industry sources say the top houses pay out a lot more than this. Nevertheless, recruiting further down the food chain is also expensive. Options Group believes that commodities traders at the vice-president level also stand to make total payout of $700,000 to $800,000 at a top-tier bank this year.

Getting hold of people with the right experience is equally tough.

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