Tertiary and Continuing Graduate Program Thread

[Selective Retention]

So it's that time of the year where students that are either in their last year at uni or finished their degree at the end of the last year have to step out into the real world. Some graduate programs have opened already while most open around Feb/March.

Personally I'm in my last year this year looking to get a job in a finance major related field, so mainly looking towards banks, insurance companies etc.

As far as academic results go I will be fine, it's all the other added extras I need to be prepared for.

Any hints, tips on the process from those that have been through the application process, either things you did that helped you be successful or things you think might have torpedoed your chances would be appreciated.

I've got a few questions but I'll hold back on being completely overwhelming for the time being

 

[Selective Retention]

The thing I am curious on however is whether or not being a final year student and applying for the following years intake is an advantage or a distadvantage when compared to people who have already completed their degree.

Some places let you reapply in consecutive years while others do not.

As a continuing student it is better for me to apply and get a job this year, simply because you don't have the year lag with nothing to do. On the other hand, you are heading into assessment centres etc. without having completed the final year of your degree, which lets face it is the specialised, job specific knowledge that you are going to require.

I'm interested in how the HR people view this. If you've finished you're degree they have a definitive academic record but on the other hand you've also had a year off before you start the graduate program to forget everything you've learnt!

 

[Seb]

I completed a Bachelor of Engineering (Civil)/Bachelor of Commerce (Finance) at Melbourne in July 2009. I was a bit lazy and only applied for the best engineering jobs pre-July, was unsuccessful at all, then went overseas for 2 months. I came back and kept applying to whatever was left (quite a few bits and pieces, where companies kept their recruitment until later in the year so they could be more confident of offering places) and got a couple of offers - some ok, some not so much.

I ended up taking a position at an engineering consultancy and started in the new year, however I am not really enjoying it. I got a separate offer to become an actuarial analyst two days before I started my position and turned it down due to the circumstances (lack of time, don't even have the major) but would really like to pursue it.

I think the point of my story is I will most likely be applying for graduate programs again for 2011 start, in both engineering and finance/actuarial-based fields, even though I have just started in a new role.

That story is pretty common. I know a lot of guys who did Commerce at Melb Uni (myself included, graduated in 2008) with the hope of getting into investment banking but due to the incredible demand and the limited amount of opportunities in the field, failed to land a job. Many of them considered it to be due to the economic downtown and went on to study Honours or Masters or a different degree to let things settle down. I think it is fair to say those who did extra study are mostly frustrated at still being at Uni, particularly when the material doesn't change a helluva lot. I mean, you can only learn so many models for DCF analysis and read legislation pertaining to takeover theory. I think it is fair to say the people who took your option, i.e went into financial advisory or middle-market advisory at the Big 4 accounting firms (read: not their ultimate goal of an investment bank like JP Morgan or Goldman Sachs etc) are happier, because they're getting paid and not in the Uni environment. Others however (like me) don't mind being at Uni for another year or two if it is a means to a better end.

Acturial studies would be awesome. I read in a magazine the other day that being an actuary is the number 1 job in the world. Excellent pay, reasonable hours and because so few people have the skills to be one, the job security is quite good relative to stress levels and output.

As for when to apply for firms, I don't think it matters. If you are prepared to have a year of 'nothing' then you can apply when you graduate for the following year. Likewise, you can apply in your second year for a position starting the following year. The companies are generally quite flexible, especially in the banking sector believe it or not. Many of them recognise that you will be able to start a year later due to Uni and thus offer you for that period.

 

[Radical Roo]

I need a graduate job or an entry level professional job, if i don't get it then there will be trouble for the society. Hey people do you think there is a strong case of institutional racism in the HR department in Aus companies compared to American and European companies? Anyone who can offer some opinions here would be fantastic.

 

[Selective Retention]

I'm sick of all the gay questions already and I've only been filling out application forms!