Local Exchange Trading Schemes (LETS) are networks for exchanging goods and services using a local currency. They are seen by some as providing an ‘alternative’ way of negotiating changing and complex livelihoods. Current literature on LETS and work understands participation as a response to dissatisfaction around work and as a strategy for re-valuing work. In this paper we draw initially on new quantitative data to understand who engages in LETS work and find that trading is small-scale and limited to a particular group of people. The data also suggest that contrary to previous research exchanges on LETS sometimes transform and sometimes reinforce existing work relations. To illuminate these complexities we draw on in-depth interviews with Stroud and Brixton LETS members. First, we highlight the multiple ways in which their relations to work connect with their motivations for joining LETS. Second, we examine how these motivations are translated into practice by looking at how prices for LETS work are negotiated. This illustrates that the way power interweaves during these negotiations is multiple and dynamic. Finally, we suggest that for LETS trading to be more equal, the different capacities that people have to negotiate needs to be considered.