eFinancialCareers

Scotland's biggest financial employers have given a lukewarm reception to the growing trend for paying staff to recruit new employees. According to a survey by the Institute of Personnel and Development, around 50% of UK employers now have such "introducer" schemes in place. A quick glance at the headline cost savings helps to explain why the practice is increasingly popular with employers. Recruiting an employee via referral can knock as much... Read more

Following its announcement of 370 new jobs in Glasgow and Dundee, BNP Paribas is wasting no time in recruiting the new workers. The French banking giant is looking for accountants and team leaders for its fund accounting and pricing teams, plus investment and fund administrators. Are Scottish financial services salaries set to rise more impressively as a result? Recruiters remain divided on the issue. Marcel Grant, a consultant at recruitment firm... Read more

London's finance workers may be nervous about their jobs disappearing to China and India, but recruiters say Scottish workers have no such fears. In an otherwise bullish report on UK financial and business services, the respected Ernst & Young ITEM Club warned last month that competition from India in particular posed a threat to the UK's biggest industry. But despite an ongoing review of its operations by Prudential – which could... Read more

More and more Edinburgh bankers are splitting their time between Scotland and London. Take a walk around Edinburgh airport any weekday morning and one of the fastest growing trends of modern times will be immediately apparent – the growth in Edinburgh/London commuters is huge. Angus Macpherson, the recently appointed chief executive of Edinburgh-headquartered investment house Noble Group, believes a twin city approach is now vital for the success of his business.... Read more

Should you go for Columbia or Cranfield, LBS or NYU Stern? You may be based in Edinburgh and doing business in Europe, but when it comes to doing an MBA you’re probably still better off across the Atlantic. Although Europe’s MBA schools have progressed in leaps and bounds in the past decade, American banks in Europe (and even European banks in Europe) still favour schools in the US. Merrill Lynch, for example, targets... Read more

Is Scotland's booming financial services growth about to be derailed by a lack of the smack of firm government? Fears are growing in Scotland 's finance sector that the minority government headed by SNP leader Alex Salmond will be unable to provide "clear leadership" which could stall the sector's hitherto rapid expansion. The SNP is opposed to a number of schemes which the financial sector sees as vital to its continuing... Read more

Our recent poll suggests Edinburgh's finance folk are perfectly happy where they are. Asked if they would be willing to relocate, 84.6% of those working in the Scottish capital said they didn't want to move. For the small minority who did fancy heading elsewhere, Dublin and London were equally appealing – each polling 8% of the vote. Unsurprisingly, given Auld Reekie's many attractions, work/life balance is the main factor keeping them... Read more

Scotland's financial services employees are in hot demand, but they're not being paid much more than before. The latest salary survey by recruitment firm Morgan McKinley shows pay rising much faster in London than north of the border. Alex Phillips, manager of Morgan McKinley's Edinburgh office, says: "Scotland has not stood still. The financial services industry continues to grow and salaries also grow, but not as markedly as they might in... Read more

Scottish Financial Enterprise's much touted Fast Forward forum is set to focus on combatting potential skill shortages in the financial services sector. Scotland’s employers are facing a shortage of appropriately skilled workers and the financial services sector is no exception. So the Scottish Financial Enterprise (SFE) forum is to be charged with expanding and improving the country's available pool of talent. The forum, launched a couple of weeks ago at Edinburgh’s... Read more

Could an independent Scotland derail the country’s financial services jobs boom and force large firms to shift their business operations to London? Yes, according to recruiters, who unfortunately prefer to air their views anonymously. One, who declined to be named, says: "There is a fear that some companies will look at the option of moving their businesses, and with them Scottish jobs, south. Most of the financial sector's clients are in... Read more

Scotland's financial services growth is unlikely to be derailed by a skills shortage, despite finance firms being concerned about a dearth of key workers. In its latest snapshot of the Scottish financial services industry, covering the last quarter of 2006, SFE said most firms expect their business prospects to improve this year on the back of a strong finish to last year. But although the report, compiled with Capgemini, also revealed... Read more

Amanda Harvie, chief executive of Scottish Financial Enterprise (SFE), resigned last month. What does Scotland need from her replacement? Ross Leckie, director of communications at fund manager Martin Currie, says the chief executive position is a crucial role for Scotland. “The SFE job is more important than it may appear. The money managed in Scotland is sourced abroad. It’s the same with the likes of Ballie Gifford and Standard Life.” “I know... Read more

The 2007 salary survey from recruitment firm Joslin Rowe makes interesting bedtime reading for Scots financial services workers interested in finding out whether they’re being paid the right rate for their job. According to the jobs covered in the survey, a call centre operations director with a typical annual salary of £70k is the top-paid job in Scotland right now – although some companies are paying as much £90k, with a... Read more

Unhappy? Disgruntled? Thinking of leaving? Now may the time to tell your employer – research suggests Scots finance companies are doing all they can to persuade people to stay. The survey, by recruitment agency Manpower, suggests talent shortages are encouraging Scots banks, fund managers, and insurance groups to try keeping their employees happy. UK-wide financial services headcount is expected to rise by 4% in 2007, and Manpower says this has pushed staff... Read more

As technology profilerates, Scots finance companies must be increasingly vigilant against shady characters indulging in dodgy practices online. Just how inextricably linked finance and technology are when tackling such risk was revealed at the recent Bill Gates gig in Edinburgh. Michael Walsh, Scots-based executive with State Street, surprised the audience by revealing that upwards of one quarter of all his company’s jobs are IT-based. Meanwhile, London-based recruiter JP Gray reports that it’s currently... Read more

The latest Scottish Business Monitor survey from Bank of Scotland suggests demand for temporary staff in Scotland is rising fast. The Monitor points to the financial services industry as particularly avaricious in its demand for temps. It’s a view confirmed by Margaret Dyer a director at Joslin Rowe, who says their own research suggests Scots firms are set to increase temporary headcounts by 10% this year – “One of the highest... Read more

The Chartered Institute of Bankers in Scotland (CIOBS) has launched a new competition to unearth the rising stars of Scottish banking. It’s being sponsored by Deloitte, the big four accountancy firm, and is open to all CIOBS members. The winner (who rises the highest) will get a two week foreign holiday. But the long term career benefits from being singled out from peers could last far longer than a fortnight in... Read more

Scotland’s financial services workers are seeking pastures greener (and less wet and windy). Recruitment firm ‘Think Global,’ says Scotland’s finance professionals are increasing moving abroad in order to gain CV points – rather than for the lifestyle benefits of living in – say – Sydney. “People are recognising that international experience is integral to gaining promotion,” says Think Global marketing manager Suzanne Laporte. The company’s latest survey shows that career development now... Read more

Scots who have built themselves successful financial careers in London are beating the drum homewards and driving inward migration in Scotland. So says research from the Bank of Scotland. The bank’s study suggests the returning Scots are mostly in their mid-to-late 30s. In the last decade, 53,000 more people have come back to live in Scotland than have left. Professor Allan Findlay, a lecture in demographics at Dundee University who’s done... Read more