This is where you can train to be a fund manager in Scotland
Scottish fund managers are keeping their doors open for young graduates and interns even throughout the economic downturn.
Graduate trainee programs are a narrow window for entry, however. Only the very largest fund managers have them. Even some of the largest have eschewed them during the financial crisis: Scottish Widows, for instance, hasn't had its program open for the past two years, and
doesn't anticipate reopening it anytime soon, according to a spokesman.
Graduate trainee schemes and internships are still thriving at the largest fund managers in Scotland, although applicants have to be organized and ready for intense competition. There can be a considerable career payoff, however: Aberdeen Asset Management has a
roster of successful fund managers who started out as graduate trainees, including head of U.S. equities Shahreza Yusof, who joined in Singapore in 1994. Two graduate trainees from 2000 have risen rapidly: Victoria Brown, the chief operating officer of the collective
funds division, and Nick Robinson, who is currently in Sao Paulo to open a Latin American business for the firm.
Each firm also has its own individual process and expectations, so hopefuls have to pay close attention to each firm's site. Baillie Gifford typically takes six to eight graduate trainees every year. The application deadline is in December, and the firm only requires a CV
and a good cover letter. In contrast, Standard Life takes 40 to 60 graduate trainees each year - with a September start to the application season - and has a frequently updated web site applications, stories of previous applicants, and advice.
Aberdeen does not take trainees at all, but instead takes 40-60 interns each year, with the internships acting as a route to graduate offers later. Aberdeen's application season starts in February and stretches to interviews in April. The internships are a six-week
experience from May through September. In October, the interns undergo evaluations, and the firm hands out around 6-7 job offers in January.
Standard Life also offers 15 internships within its programme, and Baillie Gifford offers some to second-year undergraduates during the summer holiday season.
