It’s a scenario all too familiar. A Scottish fund manager is looking to increase its headcount and, as it’s a global marketplace, has put feelers out to other major financial centres for talent. When asked the question why, say, the UK’s premier fund managers might want to move north of the border from the behemoth that is the City of London, the answer is nearly always the same: “Well, the lifestyle up here is better,” or, “You can walk to work.”

Is this really something that should be Scotland’s major selling point? It’s reminiscent of a lower league football team’s appeal to an ex-Premier League star in the twilight of his career – the pay’s not bad, and the standard of football’s worse, but at least it’s a bit easier than what you’re used to.

Here are a few quick-fire facts for you. Scotland’s investment management sector has over £580bn in assets under management, according to Scottish Financial Enterprise, and employs over 3,300 people.

What’s more, they’re still open to recruitment. Martin Currie is the latest firm to announce plans for increasing headcount and this is on top of a number of boutique firms that have bolstered their teams this year.

But the crux of the argument is, and don’t say this too loudly, pay has been creeping up to London levels. The figures we’ve managed to wheedle out of Scottish headhunters show that a fund manager with five years’ experience can earn up to £60k-£100k with a 100% bonus.

London, meanwhile, pays £60k-£140k at the senior level, according to recruiters Morgan McKinley.

So Location, Location, Location may have voted Edinburgh the nicest place to live in the UK; and your route to work might be a pleasant stroll rather than an hour-long commute nestled in someone’s armpit on the tube, before scrambling out at Bank station. But this is not the main point to emphasise.

How about: the pay is good, fund performance is solid and job security is a damn sight better than in other parts of the world at the moment?

In fact, Scotland might be coming out of its shell a little after positing itself on the international stage during the first Global Financial Services week.

Indeed, there was something of a swagger in John Campbell, chairman of Scottish Financial Enterprise, as he recognised that Scotland had fared relatively well in the current market: “The Scottish approach to finance, based on prudence, ingrained professionalism and a long-term view, arguably increases in times of turbulence.”