Fidelity tells female undergraduates it needs IT staff

Fidelity Investments, one of the largest independent fund managers, plans to hire about 30 graduates in London this year for IT jobs.

Sally Nelson, Fidelity's human resources director, who looks after IT graduate entry, said IT remained a crucial hiring area in weak financial markets.

She was speaking as Fidelity played host to first-year female undergraduates under an initative called Capital Chances that aims to bring more women into financial services jobs.

The annual initiative by the careers publisher GTI is sponsored by 20 investment banks and fund managers as well as London Business School and Reuters.

Nelson said that last year Fidelity also hired 30 graduates in IT and 50% of the applicants were female.

&quotWe are looking for degrees but have no 2:1 requirement. We are really looking for the right interpersonal skills, for rounded people who can move into middle management roles and progress through the organisation,&quot said Nelson.

Women representing the company at the initiative made it clear they were well versed in accommodating issues of work/life balance.

Carol Vahey, Fidelity Investments' chief operating officer, spoke to the students over lunch. She told them the most important thing in the end was how they did their job - and in view of that, it was not a problem to manage the rest of their lives with flexible working, she said.

Vahey, who plays a mentoring role within Fidelity, was blunt with the graduates on the skills they should focus on, including languages. She said: &quotYou must take advantage of the opportunity to learn languages, particularly Asian languages. These are the growth markets of tomorrow.&quot

The first-year students were taken on a tour of the spacious offices at Cannon Street occupied by Fidelity since 2000, and had a glimpse of the trading room, the mysteries of charting and the showroom aimed at personal investors. They also had a chance to play a stock-picking game.

The students came from a wide range of universities and disciplines, and a large number were heading for pure science degrees. They varied between those who knew next to nothing about financial services - but were motivated enough to find out - and those who were systematically heading for a career of their choice.

One first-year student at York University, studying politics, philosophy and economics said: &quotI was an Anderson (the troubled accountancy firm) girl during my gap year, so I though I had better rectify that. Internships here (at Fidelity) are for penultimate-year students so the time to find out is now.&quot

Asked why she favoured a career in financial services, the student, who asked not to be named, said: &quotOnce you are an undergraduate you can see very clearly the two paths you can go down - let's face it, the career choice you make dictates the quality of your lifestyle. Also, you work with intelligent, well-motivated people.&quot

Another student, at Cambridge University studying French, Spanish and Economics, was pleased to hear her language choice was opportune. She had no idea what she wanted to do, but had had work experience at a stockbroker while at school. This compared favourably with her other work experience at a hotel, even if the latter landed her a summer job.

Another said it was very useful to find out, through the Capital Chances initiative, what financial services was all about. She added that Fidelity in particular was &quotfriendly - and therefore not daunting.&quot

Fidelity Investments says it is doing its bit to stop women from being &quotdaunted&quot by a career in financial services. Nelson said: &quotWe would like to see more formal applicants applying for equity research roles. We only take on two or three a year, but we find 80% of applicants are men.&quot