Scotland's asset managers reward softer skills

If you're an investment professional with an urge to work in a cosy environment where teamwork takes precedence over individual performance, Scotland's asset managers could be the places to choose.

Amin Rajan, chief executive of consultancy firm Create, says Scotland's asset managers are both more collegial and more likely to pay on a discretionary basis for qualitative attributes like leadership, mentoring and teamwork than their English counterparts.

"In London, fund management pay is becoming much more individually focused and formulaic," says Rajan. "The emphasis is on paying for things that are measurable, with a focus on fund performance and the retention of client money."

By comparison Rajan says Scotland's fund managers are more inclined to subjectively reward investment professionals for their softer skills, a fact he attributes in part to their smaller size. "To minimize the scope for misunderstanding, bigger asset managers need a more formulaic approach to pay," he adds.

Scotland's fund managers appear to be bucking the general trend. "London isn't the only place moving towards formulaic pay - it's happening in every part of the world from Singapore and Japan to Australia," says Rajan. Just not in Edinburgh, it seems.