Pay gap between carbon and energy traders is closing

The pay gap between carbon and energy traders has halved in the past three years, resting at 12%, according to a report from Selby Jennings.

The report says that carbon traders would have been earning between 20-25% less on average than energy traders prior to the economic downturn.

Pay for carbon traders increased almost twice as fast as pay for energy traders over the past three years, jumping by 63%, (from £75,000 to £122,000) compared to 32% for energy traders (from £105,000 to £139,000).

Adam Buck, managing director at Selby Jennings, said: “The pay gap between carbon and energy traders is rapidly closing and is now barely double digits.

“We are now starting to see a handful of the highest performing carbon traders earning more than equivalent energy traders. Despite bouts of uncertainty about the future of the carbon market, it has continued to expand strongly through the recession and is now coming of age.”

“As more countries participate in carbon trading, and the size of the market grows, traders with experience in this market will be in much greater demand. This will further narrow the pay gap.”