Frequently Asked Questions
How long has the AMDA program been in existence?
The AMDA program was formed in May 2022 and is currently recruiting its second cohort. The first cohort is on their second firm rotation in the research track.
Why is the AMDA program important for the asset management industry?
The program was inspired by a vision of embracing diversity within the asset management industry. Historically, recruitment has tended to favor a narrow profile of college graduates, primarily those specializing in economics, finance, and accounting. Our initiative is dedicated to breaking this pattern and fostering a more inclusive industry, aiming to usher in transformative change.
What is the overall goal of the AMDA program?
The goal of the AMDA program is to break the recruiting mold and bring in a variety of skills, backgrounds, thoughts, and perspectives to achieve the best business results. The program will generate a renewed pipeline of high-caliber talent.
How will the firms partner with one another?
The three firms participate in a 24-month rotational development training program, in which associates will work at each firm for eight months. The firms partner on all aspects of the program, from agreeing to the target list of universities to aligning on the recruiting process and training. The cohort hired will be agreed upon unanimously by the three firms.
What fields of study are you targeting with this program and why?
This program seeks diversity of thought and look to include majors outside those that are traditionally well represented in the asset management field. Being deliberate about other majors will not only increase the applicant pool but also will increase the diversity of thought brought to the firms.
What type of participants are you targeting and why?
We’re seeking intellectually curious individuals interested in financial services and the world of investing.
What are the attributes that would make a candidate successful in this role?
- Bachelor’s degree in any major outside accounting, economics, and finance.
- A recent graduate
- Interest in the financial markets or investing
- Intellectual curiosity
- Strong communication skills
- Ability to build relationships and collaborate with others
- Highly motivated, detail-oriented team player
How will program participants be compensated?
Market competitive compensation (base salary plus bonus) and benefits will be provided to all rotational employees.
What are the incentives/pros for taking a position like this?
- Competitive salary
- Opportunity to work with three prestigious asset management firms
- Unique opportunities for mentorship and increased industry networks
- Opportunity for career acceleration—ongoing learning opportunities
What will the selected participants gain from the experience?
Over the course of each two-year program, AMDA participants gain exposure to three firms, their investment styles and philosophies, and triple the networks they would have had in a traditional role. Junior associates will also have a unique training experience that could not be provided by joining one firm. This experience accelerates a career in asset management.
Is employment guaranteed after the 24-month rotation?
At the end of the second year, each firm will provide support and guidance in obtaining a full-time job within the firms if desired. Employment is not guaranteed at the completion of the two years. Participants will interview for full-time employment with their firm(s) of interest. Employers will not compete for participants and will not coordinate with respect to post-rotation hiring.
How useful will exposure to three different firms be for a candidate?
Meaningful training and exposure to three organizations is immeasurable. It also expands professional networks and provides an opportunity to experience various workplace cultures, aiding in finding the best fit.
Will AMDA participants be required to work at all three firms during the 24 months of the program?
Yes. When participants accept their offer, they are committing to the full program and working at all three firms.
What happens if a participant drops out of the program?
The program will continue with the remaining participants. Replacements will not be made mid-program.
Who is overseeing the program for each firm?
- Bo Kim – William Blair
- Kara Goodbrand – LGIM America
- Hillary Israil – Allstate Investments