Internship Review at Baillie Gifford

The Role

Role Description

First few days - training days (accounts training, introductions to different departments etc)

1st-5th week - main investment placement on one of the investment desks, we researched one or two stocks (depending on which team you were on) in detail. We went out and researched these companies' industry background, quality of management, financials (accounts), competitive advantage, and then considered the appropriate value of the share/bond price and came with a final recommendation (buy/sell/hold).

During this time we also had the chance to sit in on all the regular team meetings and even drop in to some meetings with companies we invest in.

6th week - ICD (Institutional Clients Dept) - conducted a mock presentation to prospective clients

7th-8th weeks - second investment placement - same as first placement, just with a different investment team.

1. To what extent did you enjoy your work placement or internship?

★★★★★★★★★☆

Rated 9/10

Really enjoyed it. They got me involved straight away, team members always had a lot of time for me to explain trivial matters, in the end I Learnt a lot about company analysis and the fund management industry.

2. To what extent did you feel valued by your colleagues?

★★★★★★★★★★

Rated 10/10

Very much so, it seems a genuine meritocracy - if what you say is well-founded and well-argued then the teams will take heed of what you have to say. The fact that some of the fund managers bought/sold on the back of some of the interns' recommendations is testament to this fact.

They were also a decent bunch of people, you could definitely go have a drink with them after work on a Friday.

3. To what extent were you given support and guidance by management/your supervisor(s)?

★★★★★★★★☆☆

Rated 8/10

The senior partners at Baillie Gifford were willing to speak to us and meet us, so much more that I had expected. Part and parcel of the generally welcoming culture there.

4. How busy were you on a daily basis?

★★★★★★☆☆☆☆

Rated 6/10

Fairly regular, pretty much 8.30am-5.30pm but for exceptional circumstances, I did a late evening (leaving 7/8) maybe 2 or 3 times in the whole 8 weeks

5. How much responsibility were you given during your placement?

★★★★★★★☆☆☆

Rated 7/10

Apart from the ICD (clients) week when for obvious reasons interns cannot meet (and scare away) important clients, we had pretty much the same sort of responsibilities as Analysts, just naturally less experience than them.

In addition the company I analysed is not well covered and so I was (almost) the in-house expert on that company - I had the opportunity to give my own views on the direction this company is likely to take.

6. To what extent did/will the skills you developed, and training you received, assist you in your degree studies and beyond?

★★★★★★★★★★

Rated 10/10

Skills of company gained and financial analysis and a familiarity gained with the markets is invaluable experience for me, and has really elevated me from a position 1 year ago where I basically knew nothing about how the markets worked (or failed to work in the financial crisis).

The reason I think I learnt so much is that I was allowed a reasonable amount of responsibility straight away and so had to learn by doing, and the fact that any questions or problems I had were easily solved by willing team members. I can't really be thankful enough for that.

The Organisation

7. What was the general atmosphere in your office?

★★★★★☆☆☆☆☆

Rated 5/10

It was an agreeable albeit quiet atmosphere on the investment floor. Most people just get on with their work at their desks, it is at the team/company meetings when the challenging questions are asked and this is more exciting.

8. How well organised was the overall work placement or internship set up?

★★★★★★★★☆☆

Rated 8/10

Very good. Each week we would also have a lunchtime discussion with an investor in the firm on some relevant topic (technology, energy stocks, behavioural finance) which was good also to get some exposure to something you might not have been doing on your desk.

9. In terms of personal training and development, to what extent did the company or firm invest in you?

★★★★★☆☆☆☆☆

Rated 5/10

I don't really know.

10. What were the perks on your work placement?

★★★★★★☆☆☆☆

Rated 6/10

• Subsidised Canteen
• Sports and Social Club
• Company Parties/Events

11. How appealing are future employment prospects within the organisation?

★★★★★★★★☆☆

Rated 8/10

BG are significantly more willing to hire in the present moment than many of their competitors.

Other Information

12. Was there a good social scene amongst any fellow placement students/colleagues?

★★★★★★★☆☆☆

Rated 7/10

Got on with the other interns well, and we went out most Friday nights, sometimes joined by people from work. Good fun.

Also played sport twice a week with people from the office which was competitive but not the highest standard, on the whole a lot of fun. Some of the interns got involved in football/hockey/tennis etc. and I think there is some cricket on offer.

13. What was the cost of living and socialising in the area you worked in?

★★★★★★☆☆☆☆

Rated 6/10

Accommodation was subsidised by BG and we got a great deal, £160/month per person for a 4 bed flat in walking distance of the office. Cost of living is not the lowest but a lot lower when compared with say London.

14. What was the Nightlife like in the area you worked?

★★★★★★★☆☆☆

Rated 7/10

There is lots on offer, particularly in the summer when this placement runs due to the Edinburgh Fringe Festival. George St and Cowgate/Grassmarket are the hotspots, though you are more likely to encounter stag/hen dos in the latter areas.

15. Were there many opportunities to get involved in activities outside of work?

★★★★★★★★☆☆

Rated 8/10

Sport in particular was a regular one - football/hockey/tennis

In addition to these questions, is there any extra information you would like to leave about your experiences on your work placement that other students may be interested in?

Yes, BG is a smaller, less well known name in the asset management industry (this is largely because BG is a privately owned company and so not listed on stock markets, and it does not advertise as its clients are largely institutional).

But don't let that put you off as it is well-respected and well-known within the industry, with a superb training programme. It has been a lot of fun - I would highly recommend the summer internship.

Review 1/14 for Baillie Gifford

Next