Aspect Capital, the quantitative hedge fund that hires non-university students learning roles, is expanding its apprenticeship program to hire more data scientist interns.
Aspect currently has nine apprentices, hired in previous years to fill legal, data and business support roles. He plans to increase their numbers in the future (although he won’t say by how much) and will recruit more for a college-level learning in data science and analytics named the ‘Advanced Data Exchange ” program, run in combination with the training provider Multiverse.
Historically, Amanda Cherry, Aspect’s director of organizational development, says the presumption was that some roles would require graduate candidates, but Aspect’s existing apprentices have shown that this is not the case. Jessica Reay, one of the fund’s data apprentices, says she has been engaged in tasks such as automating fund controls using Python. Aspect Data Director, Waqar Rashid (himself a London School of Economics graduate) says Aspect’s data trainees are imbued with a comprehensive understanding of finance ”.end-to-end across the entire trading and value chain. “
Presumably, this could make them hired elsewhere at the end of their training. The demand for data scientists in finance has increased dramatically in recent years. Recruitment firm Octavius Finance says junior data scientists in quantitative hedge funds can expect to earn between £ 45,000 and £ 60,000 as a salary, plus a 20-50% bonus. Within five years, Octavius says that salary is expected to rise to £ 90-110,000, plus a 50-100% bonus.
Aspect is one of the only hedge funds to our knowledge that offers an apprenticeship program. Others, like Millennium, DE Shaw, Two Sigma, AQR, Citadel and Point72, have developed well intern and graduate intern diets instead.
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