Energy trading IT contractors in huge demand says recruiter

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Energy trading IT contractors in huge demand says recruiter

Posted May 19, 2010

A recruitment group says that investment banks may face a "brain drain" of IT contractors following high demand for skills in the energy sector.

Oliver Gibbons, Director of the technology division of Twenty Recruitment Group, says that the banks may find themselves victims of a brain drain as the flourishing energy sector competes with if for people who understand the processes of energy trading but also the technical know how to install, integrate and support complex commodity trading systems.

Energy BA's commanding £700 per day

Gibbons says that the energy sector is currently booming following market deregulation, large acquisitions and a growing number of joint ventures - all leading to a high demand for integration and systems migration specialists.

"These are massive projects requiring business analysis and project management skills and people who can manage the analysis and integration of utility merger activity and joint venture projects. Outside energy and banking, there is little hope of finding anyone who has had exposure to what are very specialist energy trading platforms. And with contract business analysts now being able to command around £700 per day - a 40% rise on 2008 rates, the energy trading floors of the investment banks may soon be looking at a talent shortage of their own".

Attractive lifestyle choice for contractors

"While the energy sector knows that it has to compete in hard figures to tempt technology talent away from the financial services arena, what it can also offer is a completely different lifestyle", adds Gibbons, "something that can be a very attractive proposition for an IT contractor - or even for someone who is looking to move away from the possible constraints of permanent employment into career contracting. The energy sector is international and it is not unusual for contractors to move from company to company and from country to country. There are large scale projects taking place in Germany, Scandinavia, Switzerland and Holland and with English being the lingua franca of many of the energy organisations it is not difficult for contractors to move overseas for defined periods of time. Often their flights and accommodation will be paid for - and they may even be able to work from home a couple of days a week".

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