Fund managers are working hard to entice young people to join their companies amid the ongoing talent wars, and are adding or expanding summer or year-long internship programs in an effort to attract diverse talent, offering flexible working arrangements, development programs and mentoring of senior employees.
Attractive benefits of internship programs often include free lunch, paid transportation to and from work, tuition reimbursement and student loan refinancing, officials said in the 2022 Best Places to Visit survey. Work in Money Management.
“Building the team with the current generation and the next generation is a pipeline strategy for us,” said Mary Ellen Stanek, Managing Director and Co-Chief Investment Officer of Baird Asset Management and President of Baird Funds, in an interview. Baird Asset Management, Milwaukee, ranked No. 3 among fund managers with 100 to 499 US employees in the BPTW survey.
The manager, a division of Robert W. Baird & Co. Inc., has offered an internship program since 2014 and has hosted a total of 55 interns during this eight-year period. Of the division’s current employees, 15% started as interns, said Warren Pierson, also managing director and co-CIO of the asset management unit.
In 2022, Baird Asset Management had 11 summer interns and across all Baird units, a total of 236 interns worked in the business, including the Asset Management unit. In addition to working with universities including the University of Wisconsin-Madison, Marquette University and Emory University to advertise company internships, Baird also offers a one-day-a-week program for students in the secondary during the school year.
As other fund managers have said, Ms Stanek said Baird is looking for students from diverse backgrounds as well as traditional candidates, “noting that diversity, equity and inclusion is an opportunity to broaden the network”.
Baird Asset Management had $121 billion in assets under management as of November 30.
Ninety One Ltd. began its paid summer internship program for undergraduates in Cape Town, South Africa in 2017 and later expanded the program to its London and New York offices for a total of 19 students each year.
The company also runs a year-round program for six to eight graduate students in the UK and South Africa.
The company offers internships as a way to attract future talent to the financial management industry, with a focus on women and people from diverse backgrounds, Americas CEO Philip Anker said in an interview. from his office in New York.
“What young people want is an opportunity to make a difference in the industry. They want to get things done and we want to expose them to flexible working hours and a good culture. We emphasize that diversity is very important and should be celebrated,” Mr. Anker said.
Ninety One, a winner in the medium category BPTW, 50-99 U.S. employees, managed a total of $148 billion as of September 30.