Business Careers Handbook by GradAustralia

THE Business Careers Handbook

Published by

Published by: GradAustralia Writing and editing: Brianne Turk James Davis Melissa Chan Melody Dexter Creative producer: Patricia Anne Bellido Designer: Andrea Moitinho: andrea@alchemybrandconsultancy.com Contributor: Financial Planning Association of Australia Advertising: Geoff Adams: geoff.adams@prosple.com Grant Robson: grant.robson@prosple.com Jordan Hunt: jordan.hunt@prosple.com Sam McDonald: sam.mcdonald@prosple.com Jeremy Farrugia: jeremy.farrugia@prosple.com Publisher: GradAustralia ISBN: 978-0-6484930-2-0 ISSN: 2209-234X Volume 3, December 2020 ÂŠ GradAustralia, December 2020 Copyright GradAustralia owns copyright of this publication. A reasonable portion of the content may be reproduced for personal use only. The content may not otherwise be reproduced and must not be distributed or transmitted to any other person or used in any way without the express approval of GradAustralia. Accuracy & reliability of information Although every effort has been made to verify the accuracy of the content contained in this publication, GradAustralia, its officers, employees, and agents disclaim all liability (except for any liability which by law cannot be excluded), for any error, inaccuracy in, or omission from the content or any loss or damage suffered by any person directly or indirectly through relying on the content. GradAustralia undertakes no responsibility to keep the content up to date.

The Business Careers Handbook 2020

TABLE OF CONTENTS

CONTENTS Introduction How to use this guide ��2

Employer directory Employers hiring business graduates ��4

Chapter 1

Specialisations 1. Banking ��11 Business banking ��12 Corporate and asset finance ��13 Corporate and institutional banking ��14

Management consulting – strategy ��39 Restructuring and insolvency ��40 Risk management ��41 Tax advisory ��42

Chapter 2 Sectors

Academia �� 44 Community sector ��46 Freelance and start-ups ��50 Government sector ��52 In-house and corporate ��64

M&A and capital markets ��15

Professional services ��86

Retail banking ��16

Chapter 3

Trading ��17 2. In-house operations ��19

How to get hired

Accounting ��20

The ultimate career readiness checklist �� 108

Communications and public relations ��21

Researching and choosing the right organisation �� 110

Human resources ��22

Writing a CV and cover letter �� 112

Innovation and digital ��23

Sample cover letter �� 114

Marketing ��24

How to ace an interview �� 116

Operations and supply chain ��25

What to expect at an assessment centre �� 117

Sales and customer service ��26

Getting an offer �� 118

3. Investment management ��27

Managing social media �� 119

Funds management ��28 Hedge funds ��29 Private equity ��30 Venture capital ��31 Financial planning ��32 4. Services ��33 Assurance and audit ��34 Economics ��35 Forensic accounting ��36 Insurance ��37

Chapter 4

Surviving and Thriving Understanding probation �� 122 Handling performance reviews �� 123 Establishing strong professional relationships �� 124 Managing your time �� 126 Learning how to resign �� 127 Maintaining mental health �� 128

Management consulting – operations, process and technology ��38

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HOW TO USE THIS GUIDE

The Business Careers Handbook 2020

How to use this guide

Chapter 1

Chapter 2

Decide on the specialisation that interests you most.

Plan the career path and employment options you want to pursue.

Decide

In the first section of this guide, you’ll find overviews of different specialisations from business banking to tax advisory. These overviews answer the questions most commonly asked by business graduates such as: what will I be expected to do in this area of business? What are my career prospects? How do I get a foot in the door? Areas covered: ■ Banking ■ In-house operations ■ Investment management ■ Services.

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PLAN

Once you’ve decided on the specialisations that interest you the most, the next step is to plan the career path you want to pursue. The second section of this guide covers employment options ranging from in-house practice to public service, laying out important information related to salaries, career advancement opportunities, and other pros and cons. Employment options covered: ■ Academia ■ Community sector ■ Freelance and startups ■ Government sector ■ In-house and corporate ■ Professional services.

The Business Careers Handbook 2020

HOW TO USE THIS GUIDE

Chapter 3

Chapters 4 & 5

Apply to the right firm and make the best possible first impression.

Thrive as a young professional and make the most of your graduate experience.

APPLY

In the third section of this guide, we’ve provided the resources you’ll need once you’ve decided on a career path. From tips to help you craft a winning application letter to information about assessment centres, this chapter is designed to assist you in bridging the gap between life as a student and life as a young professional. Topics covered: ■ Career readiness checklist ■ Researching and choosing the right organisation ■ Writing a CV and cover letter ■ Interviews ■ Assessment centres ■ Getting an offer ■ Managing your social media.

Thrive

The first few years of your career can involve a steep learning curve. That’s why, in the final section of this guide, we’ve brought together some important advice on how to succeed as a graduate. You’ll learn how to establish strong working relationships, take advantage of opportunities for professional development, and ensure, at all times, that you give sufficient attention to your personal commitments and mental health. Topics covered: ■ Probation ■ Performance reviews ■ Establishing professional relationships ■ Time management ■ Resigning ■ Dealing with bullying and discrimination ■ Maintaining mental health.

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DIRECTORY LISTING

The Business Careers Handbook 2020

DIRECTORY Employers hiring Business Graduates Employer

Types of opportunities

Hiring graduates for

Location

Learn more

Areas with opportunities

Alcoa Australia Graduate jobs Varies Internships Varies

AMP Graduate jobs 35-40

Australian Bureau of Statistics (ABS) Graduate jobs 40

Australian National Audit Office (ANAO) Graduate jobs 30

Australian Prudential Regulation Authority (APRA)

Graduates: mechanical engineer, electrical engineer, research scientist, mine engineer, chemical engineer. Positions we may recruit in the future: finance graduates, procurement graduates, human resource graduates and a bauxite strategy graduate

See page 68 to learn more

Accounting & finance, financial services, legal, technology global distribution & business MGMT, public markets real estate

See page 90 to learn more

As Australiaâ&#x20AC;&#x2122;s national statistical agency we recruit graduates to collate, process, analyse and disseminate a vast range of important economic data.

gradaustralia.com.au/ graduate-employers/ australian-bureau-ofstatistics-abs

Performance analyst, assurance auditor, IT auditor, IT analyst, analystâ&#x20AC;&#x201C;accounting technical

See page 64 to learn more

Graduate analyst

See pages 58-59 to learn more gradaustralia.com.au/ graduate-employers/ australian-prudentialregulation-authorityapra

Graduates from all disciplines

See page 56 to learn more gradaustralia.com.au/ graduate-employers/ australian-securitiesand-investmentscommission

Intelligence professionals, corporate graduates

See page 57 to learn more gradaustralia.com.au/ graduate-employers/ australian-securityintelligenceorganisation-asio

Business & management, engineering & mathematics, IT & computer science, law, legal studies & justice, sciences

gradaustralia.com.au/ graduate-employers/bdo

We look for students with a range of degrees that include (but not limited) to engineering, technology, business, health science and science.

gradaustralia.com.au/ graduate-employers/bhp

Business & management, engineering & mathematics, IT & computer science

See pages 92-93 to learn more

ACT

Graduate jobs 20-30

Australian Securities and Investments Commission (ASIC) Graduate jobs 20

Australian Security Intelligence Organisation (ASIO) Graduate jobs Varies

BDO Graduate jobs Varies Internships Varies

BHP Graduate jobs 100-150 Internships 100- 150

Blackrock Graduate jobs Varies Internships Varies

www.gradaustralia.com.au

gradaustralia.com.au/ graduate-employers/ alcoa-australia

gradaustralia.com.au/ graduate-employers/amp

gradaustralia.com.au/ graduate-employers/ australian-nationalaudit-office-anao

gradaustralia.com.au/ graduate-employers/ blackrock

The Business Careers Handbook 2020

Employer

Types of opportunities

DIRECTORY LISTING

Hiring graduates for

Location

Learn more

Areas with opportunities

Graduate and internship: Financial products analytics & sales representative

Bloomberg Graduate jobs Varies Internships Varies

Internship only: News summer intern

BP Graduate jobs 8 Internships 15

Chevron Graduate jobs Varies

Carlton and United Breweries

See page 89 to learn more gradaustralia.com.au/ graduate-employers/ bloomberg-lp

Marketing co-ordinator, sales analyst, communications co-ordinator, finance analyst, strategy analyst

See pages 68-69 to learn more

Business & management, engineering & mathematics, IT & computer science, law, legal studies & justice, medical & health sciences, sciences

gradaustralia.com.au/ graduate-employers/ chevron

Graduate management trainee, summer internship

See page 67 to learn more

gradaustralia.com.au/ graduate-employers/ bp-australia

gradaustralia.com.au/ graduate-employers/ carlton-united-breweries

Graduate jobs 4-8 Internships 2-6

Coles Graduate jobs 7

Cor Cordis

Accounting and finance graduates keen to tackle the challenges of an ASX Top 30 company and one of Australiaâ&#x20AC;&#x2122;s largest retailers

See pages 70-71 to learn more

Intermediate accountant

gradaustralia.com.au/ graduate-employers/ cor-cordis

Graduate jobs 10

Daimler Truck and Bus

gradaustralia.com.au/ graduate-employers/ coles

gradaustralia.com.au/ graduate-employers/ daimler-truck-and-bus

Graduate jobs Varies Internships Varies

Department of Defence Graduate jobs Approx 250

Department of Home Affairs Graduate jobs 50 ACT

The Department of Infrastructure, Transport, Regional Development and Communications Graduate jobs 20-30

gradaustralia.com.au/ graduate-employers/ department-of-defence

Our Graduate Development Program is a generalist program where graduates will complete three rotations throughout the department.

gradaustralia.com.au/ graduate-employers/ department-of-homeaffairs

Policy officer, team member, graduate

See page 59 to learn more gradaustralia.com.au/ graduate-employers/ department-ofinfrastructure-transportregional-developmentcommunications

Graduate analyst

See page 60 to learn more

ACT

Department of the Treasury Graduate jobs Varies

We welcome graduates from all backgrounds for 14 streams including generalist, finance, estate & infrastructure, HR, commercial, logistics and policy.

ACT

gradaustralia.com.au/ graduate-employers/ department-of-thetreasury

www.gradaustralia.com.au

DIRECTORY LISTING

Employer

The Business Careers Handbook 2020

Types of opportunities

Location

Hiring graduates for

Learn more

Areas with opportunities

Deutsche Bank

All disciplines

gradaustralia.com.au/ graduate-employers/ deutsche-bank

IT graduate, HR graduate, operations graduate

gradaustralia.com.au/ graduate-employers/dhl

Graduate engineer, graduate chemist, marketing coordinator, territory manager, sales executive, team leader

See pages 74-75 to learn more

Application developer, business analyst, consultant, corporate, cybersecurity, project management, sales, software/systems engineer

gradaustralia.com.au/ graduate-employers/dxctechnology

Business & management, creative arts, engineering & mathematics, humanities, arts & social sciences, it & computer science, law, legal studies & justice, medical & health sciences, property & built environment, sciences, teaching & education

gradaustralia.com.au/ graduate-employers/ eclipse-trading

Graduate, vacationer

See page 90 to learn more

Graduate jobs Varies Internships Varies

DHL Graduate jobs 20

DuluxGroup Graduate jobs 10-15

DXC Technology Graduate jobs Varies

Eclipse Trading Graduate jobs Varies Internships Varies

gradaustralia.com.au/ graduate-employers/ ey-australia

Graduate jobs 600+ Internships 550+

Findex / Crowe

Accounting undergraduates and graduates

Graduate jobs Varies

Goldman Sachs

See page 98 to learn more gradaustralia.com.au/ graduate-employers/ findexcrowe

Graduate jobs 80-120 Internships 50-70

Gallagher Bassett Services

gradaustralia.com.au/ graduate-employers/ duluxgroup

Business & management, engineering & mathematics, humanities, arts & social sciences, IT & computer science, law, legal studies & justice, medical & health sciences, sciences

gradaustralia.com.au/ graduate-employers/ gallagher-bassettservices

All disciplines

gradaustralia.com.au/ graduate-employers/ goldman-sachs

Audit & assurance, financial advisory, tax, private advisory & consulting

gradaustralia.com.au/ graduate-employers/ grant-thornton

Finance graduate, risk graduate, actuary graduate , product + pricing graduate

gradaustralia.com.au/ graduate-employers/ iag-australia

Graduate jobs Varies Internships Varies

Grant Thornton Graduate jobs 100 Internships 100

IAG Graduate jobs Varies

www.gradaustralia.com.au

The Business Careers Handbook 2020

Employer

Types of opportunities

DIRECTORY LISTING

Hiring graduates for

Location

Learn more

Areas with opportunities

International SOS

Business & management, engineering & mathematics

gradaustralia.com.au/ graduate-employers/ international-sos

Business, finance and analytics, engineering and mathematics, IT and computer science, digital

See pages 76-77 to learn more

Business analyst

See page 91 to learn more

Graduate jobs Varies Internships Varies

Jetstar Airways Graduate jobs 6

Kearney

gradaustralia.com.au/ graduate-employers/ kearney

Graduate jobs Varies Internships Varies

Kraft Heinz Graduate jobs 6

Lâ&#x20AC;&#x2122;OrĂŠal Graduate jobs 30 Internships Varies

Macquarie Group

gradaustralia.com.au/ graduate-employers/ jetstar

ACT

Finance graduate, sales graduate, marketing graduate, HR graduate, foodservice graduate, commercial strategy graduate

See pages 78-79 to learn more gradaustralia.com.au/ graduate-employers/ kraft-heinz-companyaustralia

Marketing management trainee, digital management trainee, operations management trainee, finance management trainee, commercial management trainee

See page 70 to learn more

All disciplines

gradaustralia.com.au/ graduate-employers/ macquarie-group

Hiring students from all university disciplines to work in a general business stream program

See page 73 to learn more

Graduate analyst, graduate sales analyst, finance graduate, operations graduate, marketing graduate

See pages 96-97 to learn more

Graduate engineer, commercial graduate, human resources graduate, finance graduate, environmental & sustainability graduate

gradaustralia.com.au/ graduate-employers/ mcconnell-dowell

Business or commerce students studying accounting, economics or finance

See page 94 to learn more

MECCA Brands graduate

gradaustralia.com.au/ graduate-employers/ mecca-brands

gradaustralia.com.au/ graduate-employers/ loreal

Graduate jobs Varies Internships Varies

Mainfreight Graduate jobs 40-50

Marsh Graduate jobs 15-20

McConnell Dowell Graduate jobs 22

McGrathNicol Graduate jobs 15-20 Internships 30-35

MECCA Brands

gradaustralia.com.au/ graduate-employers/ mainfreight

gradaustralia.com.au/ graduate-employers/ marsh

gradaustralia.com.au/ graduate-employers/ mcgrathnicol

Graduate jobs 5-10

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DIRECTORY LISTING

Employer

The Business Careers Handbook 2020

Types of opportunities

Location

Hiring graduates for

Learn more

Graduate sales consultant, graduate account manager

See page 80 to learn more

Areas with opportunities

Meltwater

gradaustralia.com.au/ graduate-employers/ meltwater

Graduate jobs 10-20

Mercedes-Benz Australia Pacific Graduate jobs 1-5 Internships 1-5

Microsoft

Graduate accountant, marketing co-ordinator, parts analyst, HR graduate, IT graduate, reporting analyst Sales graduate, compliance graduate

gradaustralia.com.au/ graduate-employers/ mercedes-benz-australia

Graduates

gradaustralia.com.au/ graduate-employers/ microsoft

Roles in development, construction, sales & marketing, finance, retail, design, communications, investor relations, human resources, technology & more

See page 85 to learn more

Graduate, summer intern, tech intern

gradaustralia.com.au/ graduate-employers/nab

Business & management, engineering & mathematics, IT & computer science

gradaustralia.com.au/ graduate-employers/ northrop-grummanaustralia

The NSW Government Graduate Program offers graduates a diverse experience regardless of degree or discipline

See page 61 to learn more

Roles across all our divisions

See page 98 to learn more

Graduate jobs Varies Internships Varies

Mirvac

Internships

NAB

gradaustralia.com.au/ graduate-employers/ mirvac

Graduate jobs 70-90 Internships 20-50

Northrop Grumman Graduate jobs Varies

NSW Government Graduate jobs Approx 200

Perpetual / Fordham

gradaustralia.com.au/ graduate-employers/ perpetual-fordham

Graduate jobs 20-25 Internships 20-25

Project Everest Ventures

Internships

Graduate jobs 30

PwC Graduate jobs Varies Internships Varies

www.gradaustralia.com.au

Impact intern

See page 48 to learn more gradaustralia.com.au/ graduate-employers/ project-everest-ventures

Varies

Protiviti Pty Ltd

gradaustralia.com.au/ graduate-employers/ nsw-government

Grad consultants in: technology consulting, internal audit, risk & compliance, business process improvement

See page 99 to learn more

Graduates/interns

See page 82 to learn more

gradaustralia.com.au/ graduate-employers/ protiviti

gradaustralia.com.au/ graduate-employers/pwc

The Business Careers Handbook 2020

Employer

Types of opportunities

DIRECTORY LISTING

Location

Hiring graduates for

Learn more

Areas with opportunities

Raytheon Australia Graduate jobs Varies

Rural Bank Graduate jobs 6

Serco Asia Pacific

Business & management, engineering & mathematics, humanities, arts & social sciences, it & computer science

gradaustralia.com.au/ graduate-employers/ raytheon-australia

Engineering, maths, IT & computer sciences, finance, accounting, economics & business administration, sciences

See pages 100-101 to learn more

Business & management, creative arts, humanities, arts & social sciences

gradaustralia.com.au/ graduate-employers/ serco-asia-pacific

Trading intern, graduate quantitative trader, graduate buy side researcher, graduate technologist

See page 102 to learn more

Business development graduate, commercial property graduate, cyber security graduate, development graduate, finance graduate, project management graduate

See page 83 to learn more

Technology graduate, actuarial graduate, business graduate, finance graduate

See page 103 to learn more

Busines analysis, sales, developers, network engineeers

gradaustralia.com.au/ graduate-employers/ vocus

Business & management, creative arts, engineering & mathematics, humanities, arts & social sciences, it & computer science, medical & health sciences, property & built environment, sciences

See page 84 to learn more

Business & management, engineering & mathematics, humanities, arts & social sciences, IT & computer science, medical & health sciences, property & built environment

gradaustralia.com.au/ graduate-employers/ yarra-city-council

gradaustralia.com.au/ graduate-employers/ rural-bank

Graduate jobs Varies

SIG Graduate jobs 10-15 Internships 5

Stockland Graduate jobs 15-20

TAL Graduate jobs Varies Internships Varies

Vocus

gradaustralia.com.au/ graduate-employers/sig

gradaustralia.com.au/ graduate-employers/ stockland

gradaustralia.com.au/ graduate-employers/ tal-australia

Graduate jobs 1-5 Internships 5-10

Woodside Energy Graduate jobs Varies

Yarra City Council Graduate jobs Varies

gradaustralia.com.au/ graduate-employers/ woodside-energy

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SPECIALISATIONS

Chapter 1

Specialisations 1. Banking ��11 Business banking ��12 Corporate and asset finance ��13 Corporate and institutional banking ��14 M&A and capital markets ��15 Retail banking ��16 Trading ��17 2. In-house operations ��19 Accounting ��20 Communications and public relations ��21 Human resources ��22 Innovation and digital ��23 Marketing ��24 Operations and supply chain ��25 Sales and customer service ��26 3. Investment management ��27 Funds management ��28 Hedge funds ��29 Private equity ��30 Venture capital ��31 Financial planning ��32 4. Services ��33 Assurance and audit ��34 Economics ��35 Forensic accounting ��36 Insurance ��37 Management consulting – operations, process and technology ��38 Management consulting – strategy ��39 Restructuring and insolvency ��40 Risk management ��41 Tax advisory ��42

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The Business Careers Handbook 2020

SPECIALISATIONS

Chapter 1.1

Banking At its core, the banking industry is about helping individuals, businesses and government bodies with their banking needs – whether that’s a place to store their money or a way to get financing and debt. Banking may be further categorised based on the type of customer the bank is serving. For example, retail banks (which serve private individuals), business banks (which serve businesses), and corporate and institutional banks (which serve larger corporations and government departments). These banking services are found in commercial banks such as the Big Four, Commonwealth Bank, Westpac, ANZ and NAB, as well as some investment banks such as Macquarie Bank. Investment banks may also offer the same services, however they also perform more complex financial transactions. For example, they assist organisations with raising money by taking them public on the stock exchange. As a graduate, you will find there are many roles available in banking – from being on the front line, that is, serving or advising customers directly, to the ‘behind the scenes’ backoffice operations.

Specialisation

Description

Discover

Business banking

Serves businesses up to a certain threshold or size by finding the best banking product to meet their needs.

page 12

Corporate and asset finance

Arranges financing for an organisation so that it can invest in new technology or equipment to keep growing.

page 13

Corporate and institutional banking

Works with larger organisations, including government departments and corporations, to develop bespoke solutions.

page 14

M&A and capital markets

Helps an organisation buy or merge with another, or to raise money in the capital markets.

page 15

Retail banking

Assists individuals with their banking needs such as deposits, loans and mortgages.

page 16

Trading

Makes money for individual clients, or organisations such as a banks or hedge funds, by buying and selling financial instruments, such as stocks, bonds or derivatives.

page 17

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SPECIALISATIONS

The Business Careers Handbook 2020

Business banking If you rotate into a business banking area, you will need to understand the needs of your business clients and how your offerings may help them.

What is business banking? Whether a business is a small to medium enterprise (SME) or an ASX-listed organisation, it typically seeks to do two things: grow and run more efficiently. This is where business banking comes in. As a business grows, it needs further financing to expand, purchase equipment or meet growing operating expenses. A business will also need an account to receive and store money and make payments, while tracking the amount of cash going in and out to ensure there is enough cash on hand at any one time. In short, business banking is not unlike retail banking. Both revolve around the customer – who they are, what they want and why – so that banking solutions can be designed to effectively meet the customer’s needs. In Australia, most retail banks also offer business banking. This includes the ‘Big Four’ banks as well as other smaller banks such as Bendigo Bank and Bank of Queensland, and foreign banks such as HSBC or Citi. It should be noted that business banking typically caters to organisations with turnover under a specific threshold, such as $50 million. Once it reaches beyond this, the organisation is considered to have much more complex financial needs. It is then managed through the corporate and institutional banking area of the bank. www.gradaustralia.com.au

What is the graduate experience like in business banking? Most larger banks offer graduate rotations that may take up to two years to complete. Some banks bundle business and retail banking graduate rotations together, meaning that, as a graduate, you will experience what it is like to service both individuals and businesses. Other banks separate the two. Either way, if you rotate into a business banking area, you will need to understand the needs of your business clients and how your offerings may help them. For example, if you are on the front line working as a business banker in a commercial centre or branch, you will work face-toface with your customers. You will spend time working with businesses to understand what they are most worried about and what their goals and aspirations are. This is a great opportunity to develop your people skills. Your day-to-day work may include on-boarding a new customer, combing through and analysing a business’s finances, developing credit papers, proactively identifying sales opportunities or developing tailored solutions such as an overdraft, lease or project finance. If you rotate through the business banking area in the head office, you may help develop business banking products or have the opportunity to design tools to price the new products and assess their impact upon launch. These tasks

will challenge you to build your business and commercial acumen. What are your career prospects in business banking? Once you complete your graduate rotation, you can become a business banker, relationship manager, commercial lender, business banking product manager or analyst. If you are a strong performer, you will find at most banks that your scope for career progression is high. Demonstrating you can work effectively, take initiative and meet performance targets will put you in a better position to request – and receive – career moves within the bank. Ultimately, you may seek to become a general manager, which means you will be responsible for the profit and loss of a specific division. Throughout your career, you may find it possible to move from business banking into roles within retail banking, such as personal banker, branch manager or home finance manager, or into other bank departments, such as digital channels or distribution. Choose this if you have: ■ The desire to help businesses grow and realise their potential ■ A knack for understanding what makes businesses tick and what banking services they need ■ A strong combination of analytical and interpersonal skills.

Interested in this specialisation? Jump to In-house and corporate

Page 64

The Business Careers Handbook 2020

Corporate and asset finance

What is corporate and asset finance? Most businesses need to invest in new technology and/or equipment so they can keep growing. For larger organisations, depending on the industry, this could be anything from aircraft, rail, real-estate, mining or manufacturing equipment. Given the scale and cost of these investments, it can be difficult for organisations to raise the money they need. These investments may easily run into the millions of dollars and, as such, traditional banking loans will not suffice. Investment banks and similar advisory organisations can help fund these investments by creating a bespoke financing package. This typically involves the bank taking an equity stake in the client organisation or structuring its investment to guarantee a return. Investment banks raise the funds required by selling the merits of the investment to other private investors or organisations, who are looking to invest their excess capital. There is often an overlap with the mergers and acquisition team, which may help an organisation to acquire the assets it needs rather than developing them. Those in corporate and asset finance are on the ‘sell’ side of the investment bank, which is distinct from the bank’s investment management or ‘buy’ side, where funds managers look for projects or organisations to invest in. The separation between the two is intended to prevent conflicts of interest.

SPECIALISATIONS

Those in corporate and asset finance are on the ‘sell’ side of the investment bank, which is distinct from the bank’s investment management or ‘buy’ side.

What is the graduate experience in corporate and asset finance? Most corporate and asset finance graduate jobs are found in larger investment banks and some specialist corporate advisory organisations. However, given the size of the investment required and the access to private investors, corporate and asset finance is most synonymous with investment banks. Most investment banks structure their corporate and asset finance units by industry. For example, these banks may have technology, communications or energy divisions. Specialisation may help to better understand the complexities within a sector and service clients who have needs specific to their industry. For example, those working within the energy sector will be more familiar with the energy market and utilities, and can therefore help to manage assets such as battery storage or smart meters. Alternatively, those within the communications division may help clients with anything from emerging smartphone technology to communication infrastructure. As a graduate, you will be expected to support the development and execution of these financing packages. Your day-to-day work may involve desktop research, financial analysis and modelling, as well as other tasks supporting the due diligence process. The purpose of much of this research is to understand how an organisation looking for investment is expected to perform and its valuation following corporate and asset financing. Within each

corporate and asset financing division, you will also find specialist roles such as sales, marketing, finance, risk and operations. While the lifestyle may at times be less intense than the mergers and acquisition team of the investment bank, the hours are still long and you are expected to contribute as required. What are your career prospects in corporate and asset finance? Working in corporate and asset finance is an excellent starting point for a career in the banking and finance industry. You will develop deep technical knowledge of asset finance, corporate lending and leasing, as well as the management of client relationships. As the corporate and asset finance division is typically part of a larger investment bank, you will have the opportunity to move into other areas if you choose. Moreover, the prestige of working at an investment bank will place you in good standing to look for other opportunities further afield, for example, in private equity, venture capital or hedge funds. Alternatively, you may choose to work at a commercial bank in other finance roles. Choose this if you have: ■ Excellent quantitative and analytical skills ■ Creative problem-solving skills ■ An interest in finance and meeting customer needs. Interested in this specialisation? Jump to

Page

Professional services

www.gradaustralia.com.au

SPECIALISATIONS

Corporate and institutional banking What is corporate and institutional banking? Defining corporate and institutional banking is a little tricky. On the one hand, corporate and institutional banking is much the same as, say, business banking; it is simply about meeting the banking needs of corporates and institutions. But who are these corporates and institutions? And why aren’t they served by business banks or even investment banks? Unlike business banking, corporate and institutional banking focuses on the ‘big end of town’. These are not your small ‘mum and dad’ setups; these are larger corporates, typically publicly listed though not always, as well as institutions such as government departments. They have a higher turnover and profit than smaller businesses, and as a result, also have more complex needs. Regular business banking is about finding the right ‘off-theshelf’ business banking product for the customer. Corporate and institutional banking is about working with the customer to develop a bespoke banking solution. This could include anything from debt structuring and funding solutions, to funds management and trading and research services. However, corporate and institutional banking, which focuses on financial processes such as mergers and acquisitions, is different from investment banking, which focuses on raising capital. Note, the www.gradaustralia.com.au

The Business Careers Handbook 2020

Corporate and institutional banking focuses on the ‘big end of town’ – these are not your small ‘mum and dad’ set ups, these are larger corporates, typically publicly listed though not always, as well as institutions.

distinction between corporate and institutional banking, and investment banking, can be blurred. Traditional commercial banks may offer some investment banking services, while many investment banks have commercial banking services. What is the graduate experience in corporate and institutional banking? At the heart of corporate and institutional banking is relationship management; that is, being able to really understand your customers and how to help them. Over time, you will eventually manage your own clients. As a graduate, you will get into the details of what a client’s business does by analysing financial information, making recommendations and helping to implement them. It’s a great way to develop your business acumen and really understand what makes businesses tick. You may monitor the markets and prepare industry reviews for any potential risks. You will be expected to report on your findings and communicate this to the rest of your team and eventually the clients themselves. This is an excellent opportunity to develop your communication skills. What are your career prospects in corporate and institutional banking? Starting a career in corporate and institutional banking provides a solid foundation – you will develop your knowledge of markets and industries, hone your technical skills and gain customer experience.

Within a commercial bank, corporate and institutional banking is highly regarded. It is often considered easier to transfer from corporate and institutional banking to other areas of a retail bank than vice versa. You may choose to move to areas such as product or marketing, or service other clients, for example, in business banking. If you begin corporate and institutional banking in an investment bank, there may also be scope for you to move to other areas of the bank. However, it should be noted that moving earlier in your career is easier than moving later, as other investment banking divisions develop different skills. Working at an investment bank and gaining exposure to other areas of the bank is highly regarded. It may open opportunities to gain later experience in private equity or venture capital. Depending on the area you specialise in, you may be required to complete certain accreditations, including the AFMA accreditation or an Omega Performance training program. Choose this if you have: ■ A desire to work closely with customers and build relationships ■ Creative problem-solving skills ■ Strong analytical abilities and an interest in financial services. Interested in this specialisation? Jump to

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In-house and corporate

Professional services

The Business Careers Handbook 2020

M&A and capital markets

What are M&A and capital markets? When we hear the phrase ‘mergers and acquisitions’ (M&A), we often associate it with headline news, glamorous deal-making and corporate takeovers. Indeed, M&A is a regular-enough event, as organisations seek to improve their operations or increase their overall value by acquiring others, participating in a stock buyback or undertaking a corporate restructure. To engage in M&A activity, as well as to meet other business needs, organisations need capital – that is, money. This is typically available through the capital markets, where organisations might, for example, sell shares to investors. Another common way to raise money is for a private organisation to list itself on the stock exchange, known as an initial public offering (IPO). Investment banks help organisations meet these financing needs by acting as a broker in the marketplace, connecting organisations with investors and vice versa. They also help organisations with their M&A activity by supporting negotiations and conducting analyses to determine the right price, structure and conditions. The investment banking industry is relatively concentrated, with a handful of players generating the most revenue. Macquarie Bank is one the leading Australian investment banks, and plays alongside global banks such as UBS, Goldman Sachs, J.P. Morgan, Morgan Stanley, Lazard and Deutsche Bank.

SPECIALISATIONS

Geographic mobility is one of the best parts of being an investment banker as skills are easily transferable and most banks have a global presence.

What is the graduate experience in M&A and capital markets? Entry into an investment bank is challenging. Investment banks look for the best and brightest from top-tier universities; those with the financial acumen to cut it in the world of M&A and capital markets. As a graduate, your day-today work will typically involve interpreting data, financial modelling and preparing deal proposals or pitch books. Analysts either work on the ‘sell-side’ or ‘buy-side’. Sell-side analysts are required to convince investors to invest in a particular organisation. Buy-side analysts seek to buy securities to meet their investor’s needs. Working at an investment bank is an intense experience. Work weeks of 80 hours or more can be common and managing your personal time may be challenging. On the upside, investment bankers are financially rewarded for their efforts and it is one of the more lucrative specialisations in the finance industry. Note, however, the size of bonuses paid has fallen recently after intense scrutiny following the global financial crisis. What are your career prospects in M&A and capital markets? You will find most further education typically takes place on the job. Not only will you develop your technical and quantitative skills, you will learn more about the art of dealmaking and client management. Furthermore, working in a demanding environment will help build resilience.

Many career investment bankers seek opportunities overseas after gaining experience in Australia. Geographic mobility is one of the best parts of being an investment banker, as skills are easily transferable and most banks have a global presence. Overseas experience is favourably looked upon, particularly for those seeking to climb the investment banking ladder. Career investment bankers typically work towards becoming a director or head of a division within their organisation. If you decide not to stay in investment banking, you may choose to do further study, such as an MBA at an overseas business school. Alternatively, some experienced investment bankers move into other areas of the finance industry, for example, taking on a chief financial officer role at a corporate. Others may start their own advisory firms or work in private equity or venture capital. Choose this if you have: ■ A desire to work in a fast-paced, dynamic and stimulating environment ■ Strong quantitative and analytical skills ■ A passion for the financial markets.

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The Business Careers Handbook 2020

RetaiL Banking With the rise of smartphones, changing customer expectations and the shift to digital-led services, retail banks face unprecedented challenges.

What is retail banking? Retail banking simply refers to the banking that we all know as customers. Whether it is depositing money, withdrawing cash or applying for a loan, retail banks play an integral part in our lives and the broader economy. Retail banks make money by lending to customers at interest rates higher than what they pay to depositors and borrow from wholesale markets. The difference in interest is called the ‘spread’ and is a bank’s primary source of income. In Australia, the largest banks are Commonwealth Bank, Westpac, ANZ, NAB, St George and Macquarie Bank. There are also regional banks such as the Bank of Queensland, foreign banks such as Citi, as well as credit unions and building societies.

What is the graduate experience like in retail banking? Most banks offer structured graduate programs. While there are many graduate positions available, the competition to get into retail banking is still tough given the sheer volume of applicants. Alternatively, you may work your way up from a front line role such as a bank teller and eventually move to corporate headquarters. As a graduate, you will rotate around the bank’s divisions to understand how different areas work. This may involve the front line (bank branch), channel (digital apps), product (home loans) and support (strategy or pricing) divisions. You may work in a branch helping customers with their dayto-day banking needs or work with digital channels to identify new features to build into the bank’s mobile banking platform.

With the rise of smartphones, changing customer expectations and the shift to digital-led services, retail banks face unprecedented challenges. New players such as fintech start-ups and global technology giants including Apple, are constantly seeking to disrupt the industry and take a slice of the profitable retail banking pie.

Most of your work will be project based and you will be accountable for a specific task. You may at times have an opportunity to gain exposure to senior management, by presenting them with your findings. Along the way, you will gain exposure to the bank’s different products, from transaction accounts and retail mortgages, to term deposits and credit cards.

In response, banks are placing greater emphasis on creating personalised and seamless banking experiences. Many banks have in-house customer experience teams and innovation labs with a growing focus on strategic partnerships with innovative fintech players.

What are your career prospects in retail banking? Once you complete your graduate rotations, you will likely have the opportunity to decide which area of the bank you would like to pursue. Given teams have limited entrylevel positions, this process may be highly competitive.

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If you are a strong performer and know which area you would like to work in, make sure you express your interest to the relevant team and hiring manager ahead of time. This may increase your chance of securing your first preference. However, don’t panic if you don’t land your first or second preference after your rotations. Many of the skills you will have learnt are transferable across the retail banking area, and if you continue to perform well, you may move to other teams. As you become more senior, you will likely begin to manage people and independently direct projects. You may eventually want to become a general manager and oversee the profit and loss of a specific area. It should be noted however, that while there is flexibility to move within retail banking, it is challenging to move to other areas such as corporate or institutional banking. Instead, and with greater expertise, you may be able to move beyond retail banking to financial consulting in the later stages of your career. Choose this if you have: ■ A passion for delivering excellent customer experiences ■ An interest in addressing digital challenges and taking retail banking to the next level ■ Strong interpersonal skills, sound analytical capabilities and the ability to work well in a team. Interested in this specialisation? Jump to In-house and corporate

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Trading Trading can be a volatile business – losses can be made overnight in global markets but at the same time, there is huge potential upside when successful trades are executed.

What is trading? Traders make money by buying and selling stocks, bonds, currencies, commodities and other sophisticated financial instruments such as derivatives. Put simply, traders essentially place bets on where they believe the opportunities lie to make money. Traders are found across the finance industry from sell-side organisations such as commercial banks, investment banks and hedge funds, to buy-side organisations such as asset and funds management firms. A sell-side trader may act either as a broker who is trading on behalf of clients, or by using their organisation’s own capital, known as proprietary or ‘prop’ trading. At buyside organisations, traders are given direction from portfolio managers about what to buy and sell. While a trader might have some freedom about the timing and price at which to trade, the portfolio manager often specifies the security itself. Having parameters to adhere to can make trading on the buy-side less challenging and this is reflected in the relatively lower financial rewards compared to the sell-side. Trading can be a volatile business – losses can be made overnight in global markets. However, at the same time, there is huge potential upside when successful trades are executed. There are also organisations, such as Optiver, that specialise in algorithmic trading. Algorithmic trading uses computers to

execute trades based on a set of instructions. For example, to take advantage of momentary price differentials or statistical patterns as they occur. Algorithmic trading allows trades to be made faster and more frequently than humans are capable, which in turn increases the potential for greater profits. What is the graduate experience in trading? As a graduate, you will typically specialise in one asset class. For example, at a medium-sized organisation you might focus on government bonds, whereas at a larger organisation, you might specialise further and trade only ten-year government bonds. Typically, your day-to-day responsibilities will include monitoring the profits and losses of a trading desk, analysing how prices of products traded might change, and ensuring all trades are entered into the organisation’s system. Being comfortable in a fastpaced and intense environment is critical – you may be asked at a moment’s notice to determine a specific yield or bond price! The first five years as a trader are often considered the most challenging and hold the steepest learning curve. As you become more experienced, you begin to make your own trades. Relative to other parts of an investment bank or hedge fund, traders typically have a greater work/life balance. Working primarily when markets open, working days can be intense and busy – traders are usually at their desk very early

and stay there all day. However, most traders enjoy weekends and holidays when the markets are closed. What are your career prospects in trading? As with many other specialisations within investment banking, career progression as a trader is largely determined by performance. The pressure to perform and deliver consistent results is immense. Most traders stay on to become career traders, moving between organisations or for example, from a bank to a hedge fund. Many traders specialise in whichever asset they began trading in as a graduate. Trading is very much an independent career and once you are responsible for your own trades, your day job will continue to be very similar as you become more senior. Trading will be an interesting specialisation to watch as key processes, such as the scheduling and execution of trades, are transformed by increasing automation. Choose this if you have: ■ An ability to adapt to changing circumstances and work under pressure ■ Strong quantitative skills ■ A passion for markets and calculated risk-taking.

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The Business Careers Handbook 2020

SPECIALISATIONS

Chapter 1.2

In-house operations Let’s say we know an organisation whose core offering is to provide banking services to customers. For example, it may offer deposit or savings accounts or lend money through various types of loans. And let’s say that this organisation has all the money in the world to lend to its customers and has the right certifications and regulatory approvals to set up bank accounts. Sounds like it’s ready for business, right? Almost. But first the organisation must ask itself some key questions. For example: How will people know about its business? How will the organisation manage its cash flow and budget? How will it build competitive digital platforms so its customers have easy access to their money? Within every organisation you will find various ‘support’ functions to assist an organisation’s core offering. These could range from accounting and finance, to marketing and sales, to digital and innovation labs. These functions may be individual units or combined depending on the size of the organisation. As a business graduate, you may be interested in helping to build and grow an organisation by becoming a member of its operations and support team.

Specialisation

Description

Discover

Accounting

Helps an organisation record and keep track of its financial transactions.

page 20

Communications and public relations

Communicates to internal and external stakeholders about an organisation’s performance, products and financials.

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Human resources

Manages an organisation’s most valuable asset – people – and encourages them to do their best work.

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Innovation and digital

Helps an organisation use innovation processes and technology to differentiate itself.

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Marketing

Promotes an organisation’s brands, products or services through carefully crafted campaigns.

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Operations and supply chain

Constantly asks the organisation how it can do things better – and shows them how.

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Sales and customer service

The ‘front line’ of an organisation, which interacts directly with customers, for example, by helping with enquiries.

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The Business Careers Handbook 2020

Accounting Stacey Kent is a consultant in Financial Advisory – Corporate Tax at PwC. Jump to page 82 to read Stacey’s interview.

What is accounting? At its core, accounting is about recording the financial transactions of an organisation at a given point in time. To help an organisation do so, accounting has traditionally been divided into financial and management accounting. Financial accountants present information to people outside the organisation such as investors or regulatory bodies, generally based on past performance. They prepare statements such as the balance sheet, income and cash flow statement according to accepted industry standards, known as generally accepted accounting principles (GAAP). Management accountants, on the other hand, are more internally focused. The purpose of management accounting is to help an organisation’s leaders make informed business decisions. By collecting information such as revenue, cash flow and outstanding debts, as well as planning and tracking budgets across the organisation, management accountants produce a complete picture of the business. Depending on the size of the organisation, the roles of management and financial accountants may be separate roles or integrated into one. In smaller companies, there may be some cross-over with commercial finance or analyst roles. What is the graduate experience like in accounting? As an accounting graduate, you will gain an in-depth understanding www.gradaustralia.com.au

of the organisation’s financials. During rotation, your responsibilities may include completing the endof-month accounting process, managing cash flow and tax obligations, and producing reports. You will be expected to follow set rules and work to deadlines with little room for error.

as payroll, accounts or tax. Other accounting specialisations include assurance and audit (pg 34), forensic accounting (pg 36) and restructuring and insolvency (pg 40).

If you specialise as a financial or management accountant, your dayto-day work and skill requirements will vary.

If you decide to stay more strictly within the accounting profession, you will need to fulfil ongoing training requirements given the continually changing tax laws and accounting certification requirements.

As a financial accountant, you will be responsible for regularly preparing core financial information. You will sometimes need to explain complex financial situations to non-experts, so communicating well is important. As a management accountant, you may gain more diverse skills by working with the planning and strategy teams. Being able to identify patterns in data and connect them to the bigger picture is critical. What are your career prospects in accounting? As an accountant, there is a clear route for professional development and career progression. You will typically start as an accounting trainee, advance to mid-level and senior accounting roles such as accounting manager, and then, if you perform well, eventually progress to partner or director level. Most organisations will support your advancement by helping you gain further qualifications such as becoming a Chartered Accountant. After several years of experience, you may decide to specialise further by working in roles such

Alternatively, you may decide to use your accounting skills as a launch pad for a broader career in business.

Generally, an accounting career is more stable, relative to other sectors of the finance industry, and typically continues to be in demand during a recession. However, it is worth noting that some larger multinationals are looking to outsource accounting jobs overseas and/or automate accounting processes. The consequences of this development remain to be seen. Choose this if you have: ■ Strong analytical skills and an inquisitive mindset ■ Meticulous attention to detail ■ Excellent interpersonal skills and the ability to present complex information clearly.

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Community sector

Freelance and startups

Government sector

In-house and corporate

Professional services

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Communications and public relations Heidi Van der Griend is a sales consultant at Meltwater. Jump to pages 80-81 to read her day in the life as a consultant.

What is communications and public relations? Thanks to the internet, we live in a world that is increasingly connected. We hear stories unfold in real time even as they happen across oceans. More than ever before, we learn what’s happening around us in ways our predecessors would never have imagined – from murmurings on Twitter, to Snapchat stories, to live video streaming on Facebook. For an organisation, this increasing interconnectedness has huge potential. It’s a way to make itself known – people can learn and discover everything there is to know about its products and services with the click of a button. It’s a way to build a community, a following, an intimate relationship with customers who it may not have been able to reach before. And yet, this increasing interconnectedness also has a downside – one slip-up and everyone knows. Managing an organisation’s reputation then, is an enormous responsibility. Welcome to the world of public relations (PR). Whether it’s managing an organisation’s corporate reputation, the launch of a service or containing a crisis, PR is about relating the performance and news of an organisation to specific stakeholders, be they customers, employees, investors, the media or the public. As a PR professional, you can work at an agency or in-house. PR agencies are hired on retainer or for a specific purpose, such as organising a product launch or a rebranding. Internal communications

departments are found in almost every organisation. What is the graduate experience in communications and public relations? In Australia, the PR landscape is relatively fragmented. There are large public relations organisations, often owned by larger advertising agencies such as WPP AUNZ, Ogilvy PR, Professional Public Relations (PPR) and Edelman. There are also independent PR agencies such as One Green Bean, Sling & Stone, N2N Communications and History Will Be Kind. Most of these organisations offer an internship program, however they do not typically have an official graduate program. Official graduate intakes are more common in corporates such as Qantas or Commonwealth Bank, which offer rotations within their marketing and communications teams. Whether in-house or at a PR agency, your work at the entry level will be similar: you will be asked to draft press releases, prepare media kits and liaise with key stakeholders. Working in PR requires building trust and connections with a broad range of people. Over time, you will manage your own accounts and build key relationships. The environment can be fast paced and intense. Your working hours may fluctuate and you must be ready to respond to unexpected events at any time. What are your career prospects in communications and public relations? PR and communication skills are required in virtually every

organisation, which means mobility in the PR world is relatively easy. Moving from a PR agency to an in-house role is typically easier than the other way around. PR agencies and departments are typically small teams, so progression will depend on the organisation. You may choose to become a director at your organisation, launch your own agency or even freelance. You may decide to specialise, for example, in social media or in a specific sector. However, as communications become increasingly digital, continuing to learn as much as you can about emerging technology and new platforms is important. PR professionals typically stay within communications, though moves to other areas within marketing are possible. In this case, the earlier the move, the easier it will be. Choose this if you have: ■ Excellent written and verbal communication skills ■ An interest in helping organisations tell their story ■ An ability to learn quickly and think on your feet.

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Community sector

Freelance and startups

Government sector

In-house and corporate

Professional services

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The Business Careers Handbook 2020

Human resources HR seeks to unlock the full potential of an organisation’s people and translate this into financial performance and market value.

What is human resources? Human resources (HR) is all about people. After all, without people, most organisations wouldn’t survive, let alone thrive. HR seeks to unlock the full potential of an organisation’s people and translate this into financial performance and market value. What this really means is creating a workplace where people are engaged, passionate and valued. HR’s responsibilities are twofold: they must look after the needs of an organisation, and they must look after its people. HR provides employees with career advice and guidance, and at times, may be required to help resolve a dispute or conflict. At the same time, HR helps an organisation cultivate a desirable workplace culture by making sure the right people are in the right job, and advising on specific workplace issues such as enterprise agreements or remuneration. HR can also extend to broader issues such as workplace health and safety. During restructures, HR is involved by helping people understand what is happening and the potential impact. What is the graduate experience like in human resources? Most larger corporations, such as the ‘Big Four’ banks, offer structured graduate programs where you experience a mix of rotations within the HR function. It’s important to note there is no standardised organisational ‘breakdown’ of HR. Some www.gradaustralia.com.au

organisations allocate a HR team to a business unit to meet specific needs, whereas others organise HR by type of responsibility, such as learning and development, or recruitment. Regardless, you will find that most HR work is hands-on, requiring you to interact with others on a regular basis. During rotations, you will experience a diverse range of HR projects. For example, you may help at a higher level by designing and executing an overall HR strategy. This may include surveying employees for workplace satisfaction and applying feedback, or designing an onboarding program for new employees. As a graduate, you may help to organise and eventually facilitate workshops to upskill employees and/or management about – for example – anti-bullying measures. You may also be involved in screening candidates as part of the recruitment process, hosting assessment centres or developing websites and social media strategies. What are your career prospects in human resources? Once you complete your graduate rotation, you can choose to specialise within a specific area. As indicated previously, the way HR is structured differs according to the organisation, so specialisation might include anything from recruitment to HR analytics, to health, safety and wellbeing. If the organisation is large, you may find specialisations are more niche. For example, you may be part of the learning and development team, which means your focus is primarily

on designing and delivering relevant training materials. In smaller organisations, particularly in startups, HR professionals can wear many hats and perform a variety of tasks. The decision to specialise is a personal preference and you may find you enjoy some HR aspects more than others. To make your decision, you should consider what type and size of organisation you would like to work for long term. An alternative to in-house is to become a HR consultant, for example, by joining a recruitment agency or specialist consultancy. Recruitment agencies typically prefer experienced professionals, so it is best to get a couple years’ experience first. Most of the ‘Big Four’ accounting firms offer ‘people and culture’ services and recruit from a graduate level, so this may be worth exploring if you are interested in professional services. Choose this if you have: ■ A love of people and building relationships ■ Excellent communication and negotiation skills ■ Ability to identify creative solutions and drive change.

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Innovation and digital

For graduates seeking a career in innovation, there are no hard and fast rules. The desire for innovation is pervasive and can be found in anything from larger corporates to professional services firms.

What is innovation and digital? Organisations face increasing pressure to stay on the right side of the cutting edge. With no time to rest on their laurels and competitors constantly seeking to take a slice of their pie, organisations are always looking to create new ways of doing things, whether it’s a new product, service or radically improved process.

specialist innovation consultancy, for example, 2nd Road (part of Accenture Strategy) or perhaps even a start-up.

Whatever it may be, organisations are spending more money on fostering innovative cultures, from empowering their people to tinker with ideas (think Google) to developing in-house innovation labs.

During this time, you may be exposed to a range of roles such as user experience (UX), product management, digital sales, customer-centred design or digital content. Alternatively, as a consultant, you may be expected to take a higher-level strategic view of the organisation and recommend avenues for innovation.

That’s why innovation has become the new darling of the corporate (and non-corporate) world – and why we are increasingly seeing the rise of customer-centric cultures, plus technology to foster this innovation. For graduates seeking a career in innovation, there are no hard and fast rules. The desire for innovation is pervasive and can be found in anything from larger corporates to professional services firms. If you work for a larger corporation, for example Commonwealth Bank, you will have the opportunity to embed yourself within a digital team and learn what it might be like to work in an innovation lab. Consultancies such as McKinsey and Deloitte also offer their own digital services. Alternatively, you may choose to work for a

What is the graduate experience in innovation and digital? Your experience as a graduate will depend on where you land. Larger corporations and consultancies are more likely to offer structured graduate programs and rotations.

What is common across these roles however, is the ability to operate in an environment of immense uncertainty – and potential scrutiny. The very nature of innovation is that the outcomes are unknown, which is why there is such a focus on customers and designing for their specific needs. As a graduate, you may be expected to assist in interviewing customers, collating feedback, researching the market, doing a competitive review or financial modelling to test the commercial viability of an idea. Being able to develop an informed view off the back of analysis and articulate this will help your team take ideas to the next level. Being prepared for failure – but doing what you can to pre-empt

it – is critical. While at times working in innovation may be heartbreaking, seeing an idea take off and become a success is hugely satisfying. What are your career prospects in innovation and digital? The world of innovation is, well, constantly innovating. Jobs that weren’t around only a decade ago have become the new norm – from user experience designers to product managers, these types of roles are ever evolving. The best way to progress in this field is through experience, whether that’s as an entrepreneur launching your own start-up, or an intrepreneur working within an organisation to incubate ideas. The skills learnt in innovation are easily transferable and depending on what area you are interested in, you may eventually seek roles in marketing, sales or operations, or even launch your own start-up! Choose this if you have: ■ The tenacity and passion to push ahead with radical ideas ■ An ability to operate in an ambiguous and uncertain environment ■ A love of new things and learning how to make things work. Interested in this specialisation? Jump to

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Professional services

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Marketing Marketing is powerful stuff. It can influence customer buying behaviour, increase sales and stimulate the economy.

What is marketing? Unless you live in a remote jungle, it is almost impossible to escape the influence of marketing. Marketing is the business of promoting brands, products and services. It takes a carefully crafted message and translates this into effective campaigns to customers. Marketing is powerful stuff. It can influence customer buying behaviour, increase sales and stimulate the economy. When we talk about marketing, we refer to anything from market research and advertising to media planning, distribution, sales and public relations. Every organisation, across all sectors, needs to develop a marketing strategy, which means almost every organisation needs marketing people. Good news! It’s also possible to work for an agency. At the very top of the advertising industry are large holding companies such as WPP, Interpublic Group, Publicis Groupe and Omnicom Group. For example, WPP owns an array of companies including advertising agencies such as VMLY&R and Ogilvy. Similarly, Publicis Groupe owns advertising agencies Leo Burnett and Saatchi & Saatchi as well as media agencies Starcom and Zenith. There are also independent advertising agencies that range from the global, such as M&C Saatchi, to the local, including Special Group, Cummins&Partners and Affinity. What is the graduate experience in marketing? Most larger corporations, as well as some government departments, have graduate programs. Typically www.gradaustralia.com.au

smaller organisations and most agencies do not, but they are always on the lookout for new talent. So, it’s worth approaching each to see if there are any available opportunities. At an advertising agency, you will either be hired as a ‘creative’ or ‘suit’. Creatives help to develop the copy and graphics of a campaign, while suits manage the client and project outcomes. At a media agency, you will help your team create media plans for your clients and eventually help to buy advertising time and space. As an in-house marketer, you may assist in the development of marketing strategies, work on budgets or liaise with agencies. At larger organisations, you may rotate through the department to focus on a range of functions. What is common across these marketing roles is a passion for building brands, telling stories and working in a space that is highly charged. Marketing jobs are often conducive to well balanced lifestyles, although be warned: working on the agency side means meeting strict deadlines, and it is common for advertising executives to work long into the night. Be prepared to work under pressure and in a fast-paced environment. What are your career prospects in marketing? Most marketers tend to stay in marketing throughout their careers. If you start on the agency side, progression is typically linear and you may aspire to become

the head of your specialisation; for example, a creative director. Advertising agencies can be somewhat transient, so you should find it relatively easy to move between agencies as you progress in seniority. Similarly, an in-house marketing role may eventually lead to becoming chief marketing officer or other leadership roles. You will typically find it is easier to move from agency to in-house than viceversa. It is common for seasoned art directors or account managers to launch their own independent agencies. In times of economic downturn, marketing budgets may be one of the first things to get slashed, which could have a trickle-down effect on employment. With the increasing trend towards digital and marketing analytics, being well versed in these areas will help to keep you on top of the game. Choose this if you have: ■ Creative flair, passion and a desire to create ■ Strong interpersonal skills ■ The ability to connect with brands and people ■ A passion for marketing and communication.

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Operations and supply chain

What is operations and supply chain? If you want a career that’s hands-on and gets right into the heart of a business, then you may want to consider a graduate role in operations. Being in operations is about constantly asking, ‘Why do we do things this way and how can we do it better?’ Operations aims to create efficiencies at the highest level within an organisation by analysing processes involving employees, equipment, technology or materials. In short, it’s about helping an organisation effectively fulfil its core function, be it an online retailer, a supermarket chain, a technology start-up or a bank. Supply chains are an aspect of operations which analyses how an organisation moves goods or services through its system, from suppliers to manufacturers, distributors, retailers and finally to customers. If we consider a large supermarket chain for example, we can see how an efficient supply chain is critical. A supermarket might source fruit from producers both locally and overseas. Once it has signed agreements with these suppliers, the fruit must be picked up, transported, stored in cool rooms in distribution centres and then trucked out to local supermarkets. The process doesn’t end there though – a supermarket may ask itself if it ordered the right amount, if it could have negotiated better with suppliers, if its consumers are happy with the quality, and so on. All of this, in the name of meeting customer needs and ensuring ongoing

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To stay ahead of the competition and ensure your continued attractiveness as an employee, being across new trends and technology that may have an impact on your operations, is crucial.

profitability. The coordination required is immense – and that’s just for the fruit, not to mention all the other products a supermarket or retailer might sell! Figuring out how to improve operations is critical for every business. And that’s why most organisations will have an operations team – a great way for graduates to get their hands dirty. What is the graduate experience in operations and supply chain? The major industries employing operations graduates are transport, government, retail, insurance, healthcare, construction and mining. Organisations offering jobs to operations graduates in Australia include the Australian Defence Force, Coles, Westpac, Harvey Norman, Visy, Mecca Brands, Caltex and Toll. Depending on the organisation, you may rotate through different parts of the operations function, from quality control, supply chain, product formulation, facilities management, supplier relations to purchasing external goods. As a graduate, you will work as part of a small team and be expected to help work through a specific problem. Working in operations means constantly challenging the status quo. You must convince people why change needs to occur. You will learn how to construct logical arguments and hone your communication skills, both written and verbal. What are your career prospects in operations and supply chain? Those who begin in operations typically stay in operations. There

may be opportunities in the early stages of your career to rotate into other areas of the business or to other sectors, although this becomes more challenging later on. Operations however, is a very broad area and the scope for learning is immense. Over time, you may choose to specialise, for example in supply chain or procurement. To stay ahead of the competition and ensure your continued attractiveness as an employee, being across new trends and technology that may have an impact on your operations, is crucial. Start-ups are always looking for operations talent, though given the nature of these organisations, you may be expected to wear many operational hats rather than specialising in a specific area. Another option is to launch your own business, once you have the know-how to run a business from the ground up. Choose this if you have: ■ An analytical mind and love for understanding how things work ■ Creative and strategic problemsolving skills ■ Excellent communication and interpersonal skills.

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Sales and customer service Valerie Wong is a graduate analyst frontline supervisor at APRA. Jump to pages 56-57 to read Heidi’s day in the life.

What is sales and customer service? Let’s face it – without sales, organisations wouldn’t exist. Being able to sell your product or service is crucial for almost all organisations.

marketing are bundled together and included in graduate rotations. This is particularly the case in larger corporations such as Commonwealth Bank, NAB, Caltex, Mars and L’Oreal.

A career in sales and customer service means being at the front line of an organisation, where you interact directly with potential customers. It’s the art of convincing people they need whatever it is you have to sell. This is by no means an easy feat.

Outside of these larger organisations, your experience will depend on the organisation itself. While official graduate programs may not be available, you will find most organisations are always on the lookout for sales and customer service talent.

Being in sales means being able to handle rejection often. It means finding a hook or angle that will resonate with your customer. It means knowing your potential customer intimately – what they want, what they need and what they fear. It also means knowing your product or service inside out so you can confidently answer any questions.

Sales teams are driven by targets, which result in additional financial rewards such as commission or a percentage of sales. Because of this, the pace for sales teams can be demanding and intense. You might be regularly ‘on the road’ meeting with customers and giving them presentations.

Once a customer has bought a product, it’s the role of customer service to continue engaging with the customer. Indeed, we all have memories of excellent and terrible customer service. Being on the front foot and training employees to manage customers – and keep them happy – is important for every organisation. Sales and customer service jobs are commonplace in Australia, with almost all organisations requiring staff with these skills. What is the graduate experience in sales and customer service? Depending on where you work, you will often find that sales and www.gradaustralia.com.au

Failing to regularly meet targets may be harmful to your continued progression within an organisation. Having a thick skin and the tenacity to push forward, often seemingly against the odds, is important and immensely valuable for future career endeavours. While the pace of a customer service role may not be as demanding, it is still an opportunity to develop your ‘grit’. These roles help you learn how to be more compassionate and understanding – skills that will help you build professional relationships in the future. Customer service can be an exciting career, as you never know what each day will bring or who you might meet. If you’re intent on

helping people and love making connections, customer service can be a very rewarding choice. What are your career prospects in sales and customer service? As you progress in sales, you may shift from being a front line salesperson to managing a sales team. Being a natural peopleperson will help in this regard, as you look to motivate and monitor performance. You may also choose to enter into more formal business development roles, which might require greater analytical thinking and perhaps even number crunching, to find broader sales opportunities for your organisation. Many customer service jobs are increasingly being outsourced either off-shore or through technology. We only have to look at our nearest supermarket to see the rise of the self check-out as an everyday example. Choose this if you have: ■ Excellent communication and interpersonal skills ■ A love of confronting challenges and solving problems ■ An ability to work independently and in a fast-paced, dynamic environment.

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Chapter 1.3

Investment management Investment management is about connecting people who have funds and would like someone to manage or invest those funds for them, with organisations or projects that need financing. Funds management, hedge funds, private equity and venture capital are all just variations on thisÂ theme. A career in investment management means being able to make astute decisions and backing your own judgement. Sometimes it means going out on a limb against the rest of the market, or other times, it means having faith in the management of a new organisation. Aside from funds management, most investment management jobs recruit experienced hires. If working in a hedge fund, private equity or venture capital organisation sounds like the right thing for you, take steps to gain the experience you need in your early years as a graduate.

Specialisation

Description

Discover

Funds management

Manages investments in more traditional financial instruments such as cash, equity and bonds.

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Hedge funds

Similar to funds management but open primarily to high-net worth individuals and with greater investment flexibility including using strategies such as hedging.

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Private equity

Buys and manages mature companies with the aim of recovering the investment by selling the organisation or taking it public later.

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Venture capital

Invests in high-growth potential companies, primarily startups, in the hopes that high risk will net high reward in the future.

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Financial planning

Financial planning is about guiding people to achieve their financial goals.

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Funds management As a funds manager, you will be rewarded for your abilities. A reputation for managing a fund well – and consistently outperforming set benchmarks – will make you a highly-sought after portfolio manager.

What is funds management? The funds management industry exists simply because people who have money recognise there are others who know more about investing than they do. By giving these managers their money to invest, they hope to earn a greater return on their investment than they could by themselves. Fund managers usually trade traditional investments such as cash, shares and bonds. For example, managers research and buy shares they believe are undervalued in the market, in the belief they will eventually ‘correct’ and rise in value. This selection of shares is known as active funds management. Active fund managers are considered successful so long as they match or outperform a benchmark such as the ASX100. Even if a fund manager makes a loss in a quarter, they are still considered successful if they ‘beat’ the ASX100 – that is, their loss is less than the market’s. Being able to regularly outperform the market though can be tough. This is because, as a funds manager, you must consistently bet (and win) against the consensus of the market – and other funds managers – to be rewarded. Some managed funds are indexed to the market and known as exchange traded funds (ETFs). ETFs are more passive and based on the belief that it is near impossible to get a better return than the market over time. As less ‘active management’ is required, these funds cost less to invest in. www.gradaustralia.com.au

Superannuation funds represent some of the largest clients of funds managers. As superannuation is compulsory in Australia, superannuation provides a ready pool of funds for investment. What is the graduate experience like in funds management? Most large banks run funds management and superannuation programs, for example, Commonwealth Bank’s Colonial First State. Other key players such as AMP and Perpetual also offer graduate programs. As a graduate, you will learn how to manage a portfolio – including researching stocks, making investment decisions, monitoring the markets and communicating findings. Depending on the size of the organisation, each of these tasks may have a specialist team. As a graduate, you will likely rotate through these teams before deciding which to settle in. As a researcher or buy-side analyst, your task is to determine which securities to buy for the portfolio. Often you will focus on a specific industry, region or type of product and be expected to run financial models to determine how they might perform in the portfolio. Being able to communicate these findings to your manager and team will be a critical part of the role. You may also be expected to write reports or develop presentations to communicate investment results. There is a fair amount of independence on the job, although you will be part of a team. Within the team, you may be allocated

a specific task or stock to follow and required to generate a regular performance report for your portfolio manager. What are your career prospects in funds management? As a funds manager, you will be rewarded for your abilities. A reputation for managing a fund well – and consistently outperforming set benchmarks – will make you a highly soughtafter portfolio manager. You may choose to advance to senior levels, or alternatively even start your own managed fund. As funds management organisations are often affiliated with a commercial bank, there is scope to move into other areas if you decide to move beyond funds management. As a funds manager, you will develop a deep understanding of and expertise in financial markets, and also execute trading strategies. These are valuable transferable skills. Further training is often available, including support to become a Chartered Financial Analyst (CFA). Choose this if you have: ■ Excellent quantitative, numerical and critical thinking skills ■ Strong communication and interpersonal skills ■ An intellectual curiosity about financial markets and organisations.

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Hedge funds Working at a hedge fund is highly regarded by the rest of the finance industry. Hedge funds are known to recruit top talent, particularly given the low supply of jobs.

What are hedge funds? While almost anyone can invest in a managed fund, hedge funds are much more exclusive. Hedge funds are privately offered and created for wealthy individuals, who may, for example, have more than a million dollars to invest. And unlike a managed fund, which seeks to match or outperform a benchmark, the objective of a hedge fund is to achieve an absolute return; that is, a positive investment return in every quarter. This difference in investment purpose affects the way in which hedge funds are operated. Hedge fund managers are the so-called ‘cowboys’ of investment management, with greater flexibility and risk taken in their investment strategies. They may, for example, use leverage, ‘short’ a stock if they anticipate falling prices, or ‘hedge’ or counterbalance any risks in their portfolio. Hedge fund managers collect both a management fee as well as a percentage of profits generated. What is the graduate experience like in hedge funds? The hedge fund industry in Australia is relatively small and it can be difficult to land an entrylevel job. Leading players include Regal Funds Management, Tribeca, Bennelong, Watermark and Ellerston. These hedge funds look for candidates who already have a successful track record and understand the basics of investing and trading.

A typical path into a hedge fund is through investment banking or completion of an MBA. If you enter a hedge fund, you will usually start as a research or portfolio manager associate. The tasks are similar to those of a managed fund in that you help your manager and team to pick and track investments. You may also be expected to help communicate the performance of the fund to existing and prospective investors. Hedge funds are typically small in size, as compared to an investment bank. Unlike a managed fund which may have specialist teams dedicated to areas such as research, investor relations or operations, you may wear many hats at a hedge fund. Furthermore, you will work closely with more senior members of the team, as well as have frequent contact with clients and organisations – an excellent opportunity to develop your relationship and communication skills. The structure and workplace of a hedge fund is fairly informal. You will find the team relatively collaborative as the firm’s success depends on the performance of the fund. You’re all in it together! Working for a hedge fund can be a stressful and intense experience; millions of dollars may be at stake because of your recommendations. You can expect to put in long hours with work often spilling into the weekends. If your fund is successful however, you will be rewarded financially.

What are your career prospects in hedge funds? Similar to other results-focused specialisations like private equity or venture capital, advancement at a hedge fund is based on your abilities. If you enjoy working at a hedge fund, you may want to progress to more senior levels or perhaps start your own fund. At the junior levels, you may be encouraged to become a Chartered Financial Analyst (CFA). Support for this (such as study leave) will vary according to the firm. Working at a hedge fund is highly regarded by the rest of the finance industry. Hedge funds are known to recruit top talent, particularly given the low supply of jobs, and as such, any experience here will be helpful to your career overall. Indeed, you will find there are many career paths if you decide to move on to another specialisation. For example, you might choose to move to an investment bank as a trader or securities analyst, or move to private equity or venture capital. Choose this if you have: ■ Excellent quantitative and analytical skills ■ An appetite for calculated risk taking ■ A love of learning and problem solving.

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Private equity Experience in private equity is highly regarded by the rest of the finance industry. Skills learnt are easily transferable to many other specialistations and you will likely find no shortage of roles.

What is private equity? It is common in the property market for investors to look for that ‘diamond in the rough’ – the renovator’s dream that you can fix up and sell again for a tidy profit. In many respects, this is what happens in the world of private equity. Private equity firms use money from investors plus debt to buy mature organisations that may be deteriorating or not making the profits they should be. This is based on the belief that the private equity firm can unlock the organisation’s potential and increase its overall value, through means such as reducing costs, improving operations or investing in new technology. Private equity firms do not intend to manage these organisations forever, but instead seek to sell them or take them public on the stock exchange. Investors who commit to private equity funds typically do not see a return for many years. The private equity industry in Australia is relatively small, with key players including Archer Capital, CPE Capital, Quadrant Private Equity and Wolseley. The size of these funds varies – Australian firms typically manage funds in the hundreds of millions, while those in the US are much larger, managing billions of dollars in assets. What is the graduate experience like in private equity? It is rare for an undergraduate to enter private equity straight from university. Private equity firms prefer to hire the talent they need rather than develop it themselves. www.gradaustralia.com.au

A typical route into private equity is through a few years’ experience in management consulting or investment banking. MBA graduates from top-tier universities may also be considered for roles. In Australia, finding roles in private equity may be difficult, simply given the size of the industry as well as the small size of the firms themselves, which often have less than a dozen employees. If you do join a private equity firm, however, its small size may be an advantage. There are often fewer managerial layers compared to investment banking, and you will likely have plenty of opportunity to work with senior directors. Most private equity firms have roles that mirror the fund’s lifecycle – raising funds, buying and managing companies and then selling them. Senior directors are typically responsible for creating the initial fund as this relies on strong relationships and networks. Once a fund is created, investor relations specialists help to manage existing investor relationships while marketing to prospective ones. At the more junior level, you will likely be involved in researching potential organisations to invest in. You may need to investigate a target’s operations and financial health as well as make recommendations for strategies to improve its performance. Once the deal is negotiated, you may work directly with the target’s management to meet agreed objectives. This is an

excellent opportunity to improve your communication skills as communicating and selling a vision for the organisation is critical. What are your career prospects in private equity? Private equity firms are meritocracies at heart. Often there are no set number of directors at an organisation and in most cases, if you do good work, you will be rewarded in both pay and increased responsibility. Experience in private equity is highly regarded by the rest of the finance industry. Skills learnt are easily transferable to many other specialisations and you will likely find no shortage of roles. For example, if you have experience in fundraising and investor relations, you may want to work on the ‘other side’, such as with a superannuation fund, evaluating how to invest their money. Given private equity firms recruit more experienced hires, further education is not a common experience, however this will vary according to the individual firm. Choose this if you have: ■ Excellent analytical skills and the ability to interpret large amounts of information ■ Strong communication and interpersonal skills ■ A love of dynamic, project-based work.

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Venture Capital A career in venture capital can be a very exciting one. You are paid to spot the ‘next big thing’ – and if one of your companies does extremely well, you will likely be rewarded accordingly.

What is venture capital? Venture capital is the domain of unicorns and start-ups wanting to be the next Facebook. And for every start-up that makes it big (or fails), there is a venture capitalist right behind them. Venture capital is similar to private equity in that it creates a pool of funds from different investors with the purpose of investing in companies. However, unlike private equity, venture capital focuses on start-ups with high growth potential. Venture capital can be a risky game as start-ups have a more unpredictable chance of success, but with every risk comes the possibility of even greater reward. Venture capital firms typically provide start-ups with funding – from early ‘seed’ funding through to Series, A, B and C. In exchange, venture capitalists hope to translate their equity stake into profit if the start-up goes public or is acquired. It is common for venture capital firms to limit their start-up investment to up to 50 per cent of the organisation, which means the start-up’s management remains in control. This is unlike private equity, which usually buys the organisation in its entirety and has a greater mandate for change.

Ventures, Uniseed, Square Peg and Sapien Ventures. Some of Australia’s larger banks also have their own venture capital funds such as NAB Ventures and Westpac’s Reinventure. What is the graduate experience like in venture capital? Like private equity, most firms hire on the basis of experience and required skills and do not run graduate programs. As venture capital firms and the industry itself is small, entry into this specialisation is competitive. Venture capital firms like to recruit successful entrepreneurs or those with a track record working in funded start-ups as they are more able to spot ‘winners’ and play a mentoring role to start-up founders. Other routes into venture capital may be through management consulting, private equity or investment banking. If a venture capital firm is more specialist in nature, for example, focusing on biotech, health services or information technology, they may seek experienced professionals who can bring expertise from that industry.

The venture capital industry in Australia is relatively small but has seen a resurgence in recent years, particularly following the dot-com bust in the early 2000s.

At the more junior level at a venture capital firm, you will be expected to do the grunt work to find and assess potential investments. It can sometimes be disheartening as you are constantly seeking to find the flaws in a start-up to determine if it is worth investing into.

Australian venture capital firms include AirTree Ventures, Tank Stream Ventures, Blackbird

At the same time, you will get to meet aspiring entrepreneurs who are passionate about their business

and seeing ideas come to life. Finding the ‘hidden gem’ and seeing a start-up succeed is a rewarding experience. What are your career prospects in venture capital? A career in venture capital can be a very exciting one. You are paid to spot the ‘next big thing’, and if one of your companies does extremely well, you will likely be rewarded accordingly. Like hedge funds and private equity, your progression as a venture capitalist relies on your individual performance. A track record of sound investments is the best way for you to rise to the partner level of a venture capital firm. Venture capital is highly regarded by the rest of the finance industry. Given venture capital firms are considered tough recruiters and expect candidates to have demonstrated experience in a particular area, venture capitalists who decide to transition to another specialisation are usually welcomed with open arms. What you decide to do will depend primarily on your inclination, skill set and experience. Choose this if you have: ■ A love of building and managing relationships and networks ■ The ability to see the bigger picture and sound judgment ■ Attention to detail and strong analytical skills.

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Financial planning Graeme Morris is an associate adviser at Hard Line Wealth. Jump to page 104 to read Graeme’s day in the life as an associate adviser.

What is financial planning? Financial planning is about guiding people to achieve their financial goals. Financial planners empower people to grow and protect their wealth, plan for the future and make informed financial decisions for themselves and their families. Financial planners support clients from all walks of life. Most individuals need advice to successfully navigate Australia’s complex financial and retirement planning systems. As a financial planner, you’ll spend a large amount of time getting to know your customers, building trust and researching the best strategies for their unique circumstances. Financial planners work in organisations of many sizes, from large financial institutions to small boutique firms. Some financial planners prefer to set up their own practice, managing staff and everyday business operations on top of their clients. What is the graduate experience in financial planning? Once you have graduated with an approved financial planning degree or postgraduate qualification (check the FASEA website for the latest approved list), you will most likely begin by working in client services or paraplanning roles. In these roles you will develop an understanding of how financial planning works, the strategies available to clients and the regulations that govern the profession. Your work may involve conducting administrative and research tasks and supporting www.gradaustralia.com.au

senior financial planners. These early stages are a time to hone your analytical and communication skills. Once you have practical experience you will be ready to complete a professional year, which is a legislated requirement for all new advisers. During this time you may prepare statements of advice, research financial products and begin liaising with clients. You will then sit your financial adviser exam. After this you’ll be able to begin managing your own clients. Working with a client’s financial goals is often quite personal – they might be facing redundancy, illness or the loss of a loved one. At each step you may be asked for advice. You will need to be flexible and learn to work with different personalities. What are your career prospects in financial planning? Ultimately, success as a financial planner will be measured by the quality of advice you give to clients and the outcomes they achieve, such as growing their assets. Great advisors will be good at attracting clients and advancing their financial positions. Once you have a successful track record of managing your own clients, you may eventually begin overseeing other financial planners within your organisation or move into developing financial products and services. If you want to branch out beyond financial planning, you may consider working for an asset

management firm, financial planning licensee or government regulator. As a financial planner, you are expected to meet minimum requirements including complying with the profession’s code of ethics and undertaking continuous professional development. This may include attending workshops or conferences and completing courses. Many financial planners choose to continue their education and complete the CERTIFIED FINANCIAL PLANNER (CFP®) Certification Program. CFP® certification is the highest recognised financial planning designation in the world, opening up further employment opportunities, a higher earning potential and the ability to work overseas. Given Australia’s aging population, the transfer of wealth to younger generations and a large number of retiring financial planners, it is likely the strong demand for financial planners will continue. Choose this if you have: ■ A love of helping individuals meet their goals and aspirations ■ Strong interpersonal and relationship building skills ■ Innovative, creative and analytical thinking skills. Interested in this specialisation? Jump to

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Chapter 1.4

Services At some point in time, every organisation will be confronted with a problem that it may not know how to solve. Whether it’s how to handle its tax affairs across multiple jurisdictions, deciding which new market to enter, or perhaps getting on top of rumours of embezzlement, this is when an organisation might call in the experts. Indeed, whole industries have developed to simply to service these organisations, often specialising in particular areas. As a business graduate, you may be interested in joining one of these specialisations.

Specialisation

Description

Discover

Assurance and audit

Provides confidence to stakeholders that an organisation has been scrutinised by a third party and is providing reliable information about its performance and finances.

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Economics

Offers insight into how market, policy or regulatory changes may affect an organisation’s operating environment.

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Forensic accounting

Examines an organisation to see if a financial crime has been committed such as embezzlement or securities fraud.

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Insurance

Designs, prices and implements insurance policies on behalf of organisations.

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Management consulting – operations, process and technology

Streamlines an organisation’s operations, processes and technology to ensure it is working in the most effective and competitive way possible.

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Management consulting – strategy

Solves the most critical issues facing an organisation’s senior management.

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Restructuring and insolvency

Helps organisations on the brink of bankruptcy or unable to pay its debts.

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Risk management

Identifies and mitigates risks so that an organisation can make decisions about how to run its business.

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Tax advisory

Ensures an organisation is meeting its tax requirements or provides advice on how to handle its tax affairs.

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Assurance and audit Auditors that impress their clients are often ‘poached’ to join the other side or if you’re keen to become a partner, you can use your relationships to develop and bring in ongoing business.

What is assurance and audit? Assurance services are all about providing confidence. In most organisations, managers and investors are usually separate. That is, those who invest in organisations don’t usually run them, and vice versa. So how can an investor be sure their money is being well spent? This is where assurance services come in – they ‘assure’ investors, both potential and existing, that an organisation has been scrutinised by a third party by providing reliable information about its finances, performance and management. ‘Users’ of this information include not only investors but also stakeholders such as creditors, analysts, employees, governments and communities. Assurance services refer to anything that provides investors with extra confidence that an organisation’s performance is sound or compliant. While this traditionally may refer to an audit of financial information, it can also include, for example, watching certain processes being performed or testing internal control procedures. What is the graduate experience like in assurance and audit? You will find most accounting firms offer graduate programs in assurance and audit. The ‘Big Four’ accounting firms (Deloitte, EY, KPMG and PwC) have some of the largest intakes of graduates, but you will also find placements in other accounting firms such as BDO and Grant Thornton. www.gradaustralia.com.au

As a graduate, you can expect to work in a team and be hands-on from the very beginning. One of your key tasks will be to examine an organisation’s financial reports and use your judgment to decide if the information presented is an accurate reflection of its financial position at a given date. An audit is usually conducted on site. You might be working on an audit for a supermarket and need to visit a number of its stores, or perhaps even the organisation’s headquarters to crunch through its financial reports. Either way, you will likely have regular travel throughout a project. Graduates are known to drive to business parks, factories and even army bases to do their work. The work is fairly cyclical, with the busy period always occurring just before the end of the financial year. So if holidays in May or June are your thing, then this may not be the career for you! Remember, the financial year varies by organisation, so your busy period will depend on your clients’ needs. While the hours can be long, particularly as you approach a deadline, most of the reputable firms are supportive of practices such as working remotely, flexible hours or taking days in lieu. Of course, this will vary from team to team and manager to manager, but it appears to be an increasing trend. Importantly, your integrity as an auditor is critical. You must not only be, but be ‘seen to be’, truly independent and free from bias. It

is important to be mindful of how you behave on site and with your clients. What are your career prospects in assurance and audit? As a graduate in assurance and audit, you really get to understand what makes a business tick. If you’re working for one of the large accounting firms, you’ll have the opportunity to apply these skills across other divisions. In the first two to three years as a graduate, it is very likely you will be encouraged to undertake further study, such as completing a Chartered Accountants (CA) program. Many organisations will help you to undertake this qualification through financial support and study leave. By working on site, you can begin to hone your relationship skills by engaging with client management on a regular basis. The benefits are twofold: auditors who impress their clients are often ‘poached’ to join the other side; or if you’re keen to become a partner, you can use your relationships to develop and bring in ongoing business. Choose this if you have: ■ The desire to take your accounting skills to the next level ■ A systematic and logical mind that enjoys combing through the details ■ A preference for working across industries, clients and locations. Interested in this specialisation? Jump to Professional services

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Economics A career in economics means potentially being at the forefront of public policy and economic analysis. This is an exciting place with the potential for great impact.

What is economics? As an economist you are constantly seeking to make sense of the world around you. You might be asked to analyse domestic and international markets to understand the current situation and what is likely to happen in the future. Or, you might be asked to help shape a new policy or regulation in areas such as transport, health and social services, and quantify how this will affect the economy.

valued in recruiting for economist roles. In fact, most international organisations and specialist economic consultancies prefer recruiting candidates with a few years’ experience as an economist.

Either way, as an economist you will be constantly studying and problem solving to understand how resources, money, knowledge, time, capital or labour are, or should be, allocated.

From day one, you will typically work in a team with the opportunity to learn from experienced economists. The calibre of people in places such as the Treasury is high and many of your colleagues may hold doctorates in economics. As you can imagine, the scope for learning is immense!

The skills of an economist are highly valued and career opportunities are available across the public and private sector. There are many government institutions that offer graduate economic roles, including the Treasury, Reserve Bank of Australia (RBA), Australian Taxation Office (ATO), Productivity Commission and the Australian Bureau of Statistics (ABS). Outside of Australia, it’s worth considering organisations such as the World Bank, International Monetary Fund (IMF) or the Organisation for Economic Co-operation and Development (OECD). Alternatively, you can work for the private sector, either for a large accounting firm or bank, or a specialist economics consultancy. It is worth noting that the completion of honours or postgraduate studies is highly

What is the graduate experience like in economics? As a graduate economist, you will have the opportunity to apply your academic and theoretical knowledge to real-world problems.

As a graduate, you will typically be given an area of responsibility – this may be part of a larger project or a discrete piece of analysis. For example, you may be asked to analyse key Australian or overseas trends, prepare briefing notes on statistical releases, draft a submission for a client regarding competition issues, develop a quantitative economic model or form a market definition for a specific industry. Whatever it is, you will be expected to report on your results and conclusions. This may be in the form of a written or verbal presentation to your colleagues, clients (including the government) or even to the public. Being able to take highly technical and complex issues and tailor this to your audience is a great skill. Over time

you will develop a range of skills including economic forecasting, modelling, research and policy analysis. Tools and software such as Excel will become your friend! What are your career prospects in economics? A career in economics means potentially being at the forefront of public policy and economic analysis. This is an exciting place with the potential for great impact. Some economists become thought leaders as they become more senior. For example, chief economists or partners at the ‘Big Four’ banks or accounting firms are often interviewed for economic commentary. These organisations also regularly release economic updates and industry publications containing analysis and forecasts. At these more senior levels and as you develop a reputation as an economist, it is easier to switch between the public and private sector. However, you will find it is less fluid in the earlier stages of your career. Choose this if you have: ■ A passion to apply the latest ideas in economics to real-world scenarios ■ A desire to contribute to public policy and discussion ■ An ability to effectively communicate the results of highly technical and quantitative economic analysis. Interested in this specialisation? Jump to

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Forensic accounting

What is forensic accounting? Love accounting, a good detective story and the chance to play a private investigator? Forensic accounting may be the career for you. As a forensic accountant, you analyse financial evidence to see if a crime such as embezzlement or securities fraud has been committed. This may mean working on projects to investigate rogue trader or bribery allegations, or commercial or transaction disputes – essentially anything that may require some form of investigation either in the public or private sector. It is important to note that a forensic accountant is not actually responsible for determining fraud. Rather, they establish the facts, collect and preserve evidence and lay the foundation for civil or criminal action. Forensic accountants, also known as investigative auditors, fraud investigators or forensic auditors, are employed by a range of organisations including the ‘Big Four’ accounting firms, specialist accounting firms such as Ferrier Hodgson and McGrathNicol, government organisations such as the Australian Taxation Office (ATO), the police, and legal or insurance organisations. What is the graduate experience like in forensic accounting? Many forensic accounting positions require at least a couple of years’ accounting experience, particularly at the larger accounting firms, although there are some exceptions. If you are interested in a career in forensic accounting, you may www.gradaustralia.com.au

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If you are interested in a career in forensic accounting, you may look to get experience in general accounting first, for example, as an auditor before transferring.

look to get experience in general accounting first (for example, as an auditor) before transferring into a forensic accounting division. As a forensic accountant, you will find that no project is ever alike – and depending on the client, they may even be in the news! Your day-to-day work is often on site conducting forensic analysis of financial data, creating financial or data models for use in investigations, and preparing forensic accounting reports and analytical data for litigation. You may also be asked to calculate damages and economic losses that have occurred due to fraudulent activities. Your role, however, is not limited to simply reviewing financial data. During most projects, you will work as part of a team, which may include other forensic accountants, private investigators and business stakeholders. In some cases, you may be required to mediate between various third parties or assist with negotiations – a great opportunity to extend your skill set! Be mindful that any of your work could end up in court and you may be required to testify as an expert witness. Having excellent attention to detail and confidence in your ability to create accurate and well founded work, is critical. What are your career prospects in forensic accounting? The demand for forensic accountants has increased in more recent years given the increasing intolerance and

awareness of fraudulent activity. This is particularly true with growing criminal and commercial threats to organisational integrity, such as data security. In the early stages of your career, most organisations, particularly large accounting firms, will help you to become a Chartered Accountant. Additional education is also encouraged, for example, in criminal justice or law enforcement. At some organisations, you may have the opportunity to gain training as a private investigator. If you decide forensic accounting is where you would like to build your career, opportunities to progress to partner level are available at most accounting firms. Alternatively, after a few years of forensic accounting, you may decide to specialise in a specific area related to, or a subset of, forensic accounting. Examples include bankruptcy and insolvency, fraud and criminal investigations, insurance claims, personal injury claims, business valuations and audit. Choose this if you have: ■ A curious and inquisitive mind with a love of digging beneath the data ■ Strong financial and analytical problem-solving skills ■ The ability to communicate clearly and with precision.

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Insurance Actuaries are the backbone of an insurance organisation and are responsible for designing and pricing insurance policies. This is no easy task.

What is insurance? The world of insurance has many different roles for graduates including actuaries, underwriters, brokers, investigators and claims consultants. Actuaries are the backbone of an insurance organisation and are responsible for designing and pricing insurance policies. This is no easy task and striking the right balance – and profit – is critical. If a policy is priced too low, then the organisation’s profit margin is insufficient; too high, then customers will not want to buy the organisation’s policies. As an actuary, your main task is to analyse data and build statistical models to better understand the world around you, so you can price policies effectively. Once actuaries determine the design and price of an organisation’s insurance policy, the underwriters decide which policy best fits a specific customer. Underwriters will look at individual customer data and decide how much coverage the customer will receive and how much they should pay for it. In some cases, they may even decide not to accept the risk and refuse to insure specific customers. An insurance broker sells insurance. Once an insurance policy is sold, then a customer is entitled to make claims. It then becomes the responsibility of the insurance investigators and claims consultants to validate and process the claim. What is the graduate experience like in insurance? As a graduate, you may choose to work for an insurance and

superannuation organisation. In Australia, the leading companies are AAMI, AMP, Allianz, AustralianSuper, Bupa, Colonial, GIO, IAG, Medibank, MLC and QBE. Other smaller firms, notably state/territoryspecific automotive clubs such as NRMA, RACQ and RACV also offer graduate roles, as well as brokerage companies such as iSelect. Graduate roles are also available at other insurance providers such as the ‘Big Four’ banks, Coles and Woolworths. Actuaries may also consider the ‘Big Four’ accounting firms or specialist consultancies such as Finity. Regardless of the sector, as a graduate you will typically spend the first year or two on rotation within your specialisation, across different areas such as life, general and health. Your day-to-day work will depend on whether you are an actuary, underwriter and so forth. Insurance graduates typically enjoy reasonable work/life balance. Working hours are not as strenuous as other finance areas such as investment banking, particularly if you are working in-house for an insurance organisation. Hours may be slightly longer in a consulting firm. What are your career prospects in insurance? A long-term career in actuarial studies requires becoming a fellow of the Institute of Actuaries Australia (FIAA), which is recognised in Australia and internationally. To qualify, you will need to complete the Institute’s exams and meet practical experience requirements. Most insurance companies and professional services firms will

assist through financial support and study leave. If you decide to progress within your chosen specialisation, most roles have the potential to ultimately join the C-suite of an insurance organisation – for example, as chief actuary, chief underwriting officer or chief claims officer. Alternatively, you may decide to shift into insurance consulting. As an actuary, your quantitative skills are highly valued. You may be able to transition to other industries such as management consulting, trading or finance. However, a transition to another industry is much easier earlier in your career. For other insurance roles, if you find being in insurance itself is not your thing, it is possible to move to other areas within a professional services firm or insurance organisation. It’s not unheard of for graduates who started in, say, underwriting to move into marketing! Again, an earlier shift is easier than a later one. Choose this if you have: ■ A passion for mathematics and enjoy solving quantitative problems ■ A desire to build your relationship and negotiation skills ■ An interest in understanding how the world works.

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In-house and corporate

Professional services

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SPECIALISATIONS

Management consulting – strategy What is management consulting – strategy? In any organisation, decisions must be made about the most critical issues. Perhaps this is deciding which market to enter or product to launch. Maybe it’s figuring out how to stave off competition through increased research spend. Or maybe it’s simply discovering how to leverage the skills of employees and structure of the organisation in the best way possible. With so many decisions to make at any point in time, it’s easy for management to become overwhelmed – they may not have the resources, time, people or even objective lens, to figure out the priorities. Helping the most senior levels of management to make these important decisions is why management consulting exists. Management consultants are essentially trusted advisers, typically hired by CEOs for their capacity to wrap their head around an organisation’s predicament and apply expertise and knowledge. In other words, management consultants are business problem-solvers. They look at the most pertinent issues facing an organisation, form an initial hypothesis about how to solve these and then go about gathering the evidence to support (or disprove) this. Management consultants are typically generalists – they work across multiple industries and functions and are comfortable operating in an ambiguous environment. Their speciality is www.gradaustralia.com.au

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The path to becoming a career consultant is well-documented and requires dedication, commitment to learning and excellent performance.

in business strategy at the highest level.

requires dedication, commitment to learning and excellent performance.

What is the graduate experience in management consulting – strategy? The first couple of years as a graduate are a steep learning curve. As the most junior person on the team, you will be expected to perform much of the financial modelling and analysis. It is critical you understand the implications of your analysis, or what consultants like to call the ‘so what?’ Communicating this to your team (and eventually client) in an articulate manner, is a required skill.

After two to three years’ experience, it is common – and typically encouraged – for consultants to pursue further study such as an MBA. Most large organisations provide financial compensation and study leave on the condition that you return upon graduation.

Over time, you will gain greater exposure to clients and their organisations. Whether you are interviewing employees or presenting your findings, you will hone your interpersonal skills. The lifestyle of a management consultant can be intense. While there may be some downtime between projects, most projects will demand you to work at least 60 hours per week. Being in professional services also means you are often expected to put your clients’ needs ahead of personal commitments. Most management consultants are expected to travel, or at the very least, work from their clients’ offices throughout a project. It is common to be on site from Monday to Thursday and back in your office on Fridays. What are your career prospects in management consulting – strategy? The path to becoming a career consultant is well documented and

As you become more senior, you will begin to manage larger projects on your own and will be expected to contribute to winning new business. If you decide not to become a career consultant, many other doors will be open to you. It is common for consultants to go in-house and join a corporate – often a previous client – and to work in their strategy team. Alternatively, you may decide to join a start-up or start your own business. An increasing trend is the use of contract consultants to plug resource gaps within organisations or provide discrete analysis. With freelance consulting becoming increasingly popular, this may be another path to consider in the future. Choose this if you have: ■ Strong analytical and critical thinking skills ■ The ability to construct and communicate sound and logical arguments ■ A desire to learn and understand what makes organisations tick. Interested in this specialisation? Jump to Professional services

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Management consulting – operations, process and technology Stacey Kent is a consultant in Financial Advisory – Corporate Tax at PwC. Jump to page 82 to read Stacey’s interview.

What is management consulting – operations, process and technology? Strategy consulting firms such as McKinsey traditionally make recommendations at the high level. This might include how to play in a specific market, how to be more efficient or how to unlock value. Once a strategy consultancy provides its recommendations, it is usually up to the organisation to implement these. This is a generalisation, of course, but it’s useful to keep in mind when we consider the other type of management consultancies that we will focus on here: those that provide advice in operations, process and technology. For these consultancies, it’s less about top-down recommendations and more about rolling up the sleeves and being embedded within an organisation to enact change. Not only might you be talking to the CEO about what needs to be done, but you might also be working directly with front line employees to actually implement these changes. This could involve anything from designing a technology solution and helping to implement it, developing a cost-saving process and conducting employee training, to creating a new organisational structure and getting everyone on board. While this highlights how strategy consultancies differ from operations, process and technology consultancies, in reality, you will find larger strategy consultancies increasingly offering implementation support, while similarly, some operations, process and technology consultancies are reaching further into strategy.

Regardless, the industry typically categorises operations, process and technology organisations to include firms such as Deloitte and KPMG, consultancies such as Accenture and Partners in Performance, and other smaller boutique organisations. What is the graduate experience in management consulting – operations, process and technology? As a graduate, you will learn the fundamentals of consulting in your first couple of years. Often referred to as ‘building your toolkit’, this can include technical skills such as quantitative analysis or financial modelling and other softer skills, such as presenting your findings. As the work is very hands-on, it is important you can work comfortably with your client and their employees at all levels. From meetings with senior management at headquarters, to being on site working with mining engineers, you will be expected to traverse a range of environments. This is an excellent opportunity to build rapport with your client and eventually convert this into future business opportunities as you become more senior. Over time, you will be expected to own larger parts of the analysis and begin to form and test your own hypotheses. This is a natural progression to managing your own consulting projects. As a consultant, you will gain exposure to a range of industries and functions. You’ll learn the fundamentals of business and what makes an organisation work.

What are your career prospects in management consulting – operations, process and technology? One of the great things about working as a management consultant is the training you receive. While some of this may be formal, it is primarily what you learn on the job that is most valuable. Becoming adept at both the quantitative and relationship aspects of consulting will place you in good standing for the rest of your career. Similar to strategy consulting, if you decide to go down the track of becoming partner, the path is fairly well defined: work hard, perform well, bring in new business and you will have a great chance of getting to the top of your consultancy. Alternatively, and again similar to strategy consulting, there are many opportunities beyond consulting, if that’s what you choose. Most common is moving in-house to work at a corporate, particularly for a client you may have worked with before. Choose this if you have: ■ Excellent analytical and quantitative skills ■ An interest in a hands-on approach to problem solving ■ Strong interpersonal and relationship building skills.

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Restructuring and insolvency

What is restructuring and insolvency? Restructuring and insolvency services help organisations that are in financial difficulty. These organisations are typically on the brink of bankruptcy and potentially unable to pay debts. Organisations in this situation have two options – urgently restructure or become insolvent. When an organisation decides to restructure, it may need to renegotiate its existing debt or improve cash flow to meet its financial requirements. If an organisation is unable to do so, then it will enter the insolvency process, which usually involves selling business assets and repaying debts. What is the graduate experience like in restructuring and insolvency? There are a handful of large specialist firms that offer graduate programs such as McGrathNicol, PPB and Ferrier Hodgson. The ‘Big Four’ accounting firms also have restructuring and insolvency practices. Organisations will usually appoint external consultants because they believe the organisation will become insolvent without urgent intervention. As a graduate, this means working in a high-pressure environment where you’ll need to act quickly before the organisation finds itself in an insolvency situation. Expect a hands-on experience from the beginning! During a restructure, you will learn how to diagnose the cause of an organisation’s under performance, www.gradaustralia.com.au

During a restructure, you will learn how to diagnose the cause of an organisation’s under performance, identify solutions and drive necessary change. The scope for possible impact is immense and can be a rewarding experience.

identify solutions and drive necessary change. The scope for possible impact is immense and can be a rewarding experience. If it isn’t possible to save the organisation or its business, then your task will be to help wind up its affairs in a fair and orderly fashion. In some instances, your client may actually be creditors who seek to collect and sell enough of the organisation’s assets to reclaim its debts. As a graduate, restructuring and insolvency offers both ‘behind the scenes’ tasks such as financial analysis and modelling, as well as client interactions. Working with people whose business is failing can be a highly charged experience. Australia’s laws force directors to choose between trying to turn around an organisation on their own or putting it into voluntary administration to prevent being personally liable if their efforts fail. This can put a lot of pressure on management and the project. You may also deal with terminated employees and angry suppliers and customers – all of which will help to improve your people skills. What are your career prospects in restructuring and insolvency? There are typically few barriers to promotion up to manager level. Beyond this, you will be required to bring in new business to become a partner. Working with clients early on however, means you will have a chance to learn the necessary relationship skills. Larger accounting firms will encourage

you to become a Chartered Accountant (CA) by funding further study and allowing study leave. Working in restructuring and insolvency also requires you to extend beyond traditional accounting and audit. It teaches you critical thinking and business problem-solving skills, which are valuable transferable skills. Indeed, you will find most firms, even those that are reasonably specialist, offer other services including corporate advisory and consulting. If you discover you don’t like restructuring and insolvency in the early stages of your career, you can always look to transfer to another specialisation. Other career paths may include working in-house for a bank or at a credit department. Furthermore, restructuring and insolvency work is often countercyclical. You will find yourself busier during an economic downturn when organisations are more likely to need help or are at greater risk of insolvency. Choose this if you have: ■ Strong problem solving and analytical skills ■ High emotional intelligence ■ A willingness to work under pressure in uncertain environments ■ A desire to make a difference by helping organisations turn around their business.

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SPECIALISATIONS

Risk Management Deciding how to think about and manage risk is the difference between success and failure. This is what risk management is about – identifying and mitigating risks as much as possible while still allowing an organisation to make bold decisions.

What is risk management? Risk is an inevitable part of doing business no matter what industry you’re in or what goods or services you provide. Deciding how to think about and manage risk however, is the difference between success and failure. This is what risk management is about – identifying and mitigating risks as much as possible, while still allowing an organisation to make bold decisions. An organisation is not created to manage risk. The purpose of most, if not all organisations, is to create value. However, all value creation requires a decision, and all decisions carry some element of risk. Indeed, the bigger the decision, the greater the risk – and the potential reward! If an organisation can think strategically about risk and then embed sustainable risk management responses into its organisation, it will be better placed to anticipate and respond to future risks and circumstances. What is the graduate experience like in risk management? A career in risk management means making a choice about two things: the type of sector and the type of risk. Choosing a sector means simply deciding if you would like to consult on risk as a consultant at an accounting firm, for example, or manage risk in-house at a corporate. The decision to work for a professional services firm or in-house is a classic dilemma many graduates face. If you choose to work as a risk consultant, you will have a greater

variety of projects across multiple industries and locations. If you choose to work in-house, you will gain greater in-depth knowledge in a specific industry. Either way, your work will differ most depending on the type of risk you manage: operational, financial, compliance or security. These are briefly outlined below: Operational: all organisations have processes that define their business. For example, manufacturing, supply chain and marketing. It is important to understand if these processes are working well, and if there is a risk of failing to meet management, investor or industry expectations. Financial: there are numerous financial risks associated with running a business. For example, credit risk, which means failing to make required debt payments; liquidity risk, which involves not having enough cash flow; or market risk, which describes changes in factors such as interest rates, foreign exchange rates and commodity prices. Compliance: organisations must meet a whole host of regulatory or compliance obligations. This area of risk involves ensuring a bank, for example, makes regular filings to APRA in order to avoid penalties. Security: ensuring that an organisation remains secure is essential to its operations. With increasing globalisation and technology, combating cyberattacks (for example) is a growing priority. As a graduate working in any of these areas, your work will typically involve routinely scanning the business environment to identify

changes in market factors, competition and trends. Some graduate risk management roles require a greater level of quantitative analysis, such as scenario analysis or modelling, to understand the potential impact on a line of business or new product. Other less quantitative roles may require you to take a more strategic view of risk and make recommendations for mitigation. What are your career prospects in risk management? Risk management provides a solid foundation – you will understand how businesses operate and how they are affected by change. If you begin as a risk consultant, you may either continue progressing to partner level within your firm or instead move in-house, for example, to a retail or investment bank. Moving in-house may result in increasing specialisation, for example, as a portfolio risk or model validation analyst. Like many other specialisations, if you are working for a large accounting firm and decide risk is not for you, you will have the opportunity to move to other advisory areas such as audit or consulting. A lateral move is easiest earlier in your career. Choose this if you have: ■ Logical, critical thinking and creative problem-solving skills ■ Excellent quantitative and analytical skills ■ A willingness to understand the world around you.

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Tax Advisory If you’re interested in pursuing tax as a career, most larger accounting firms will support you to pursue further qualifications such as a Master of Tax.

What is tax advisory? It’s a universal truth that all organisations in Australia must pay tax. Knowing how much to pay and who to pay it to though, especially if you’re a global organisation with business units in multiple tax jurisdictions, can be overwhelming. That’s where tax advisors come in. When you work in tax advisory, you usually help an organisation with one of two things: compliance or consulting. Compliance means making sure the organisation is meeting any tax requirements or regulations. At its most basic, this may involve helping an organisation file its tax returns or implementing new accounting standards across the organisation. Consulting, on the other hand, means providing an organisation with advice about their tax affairs. For example, identifying potential tax risks and making the appropriate operational or system changes. Essentially, it is about helping an organisation navigate their tax needs across the entire tax lifecycle in the most effective way possible. What is the graduate experience like in tax advisory? If you’re interested in specialising in tax, large accounting firms such as Deloitte, EY, KPMG and PwC offer comprehensive graduate tax programs. Alternatively, you may choose to work at a boutique tax organisation. As a graduate, you will usually rotate through different tax divisions, which may include corporate tax, transfer pricing, indirect taxes and research and development (R&D). www.gradaustralia.com.au

Working in corporate tax may mean helping a client understand the tax implications of a M&A or restructure. These projects are typically high pressure and you may work longer hours to support your team. Transfer pricing means helping a multinational develop its crossborder pricing strategy. Typically, you will analyse a client’s global and local supply chain and find the best way to structure it for tax purposes. This is a great way to build your understanding of how businesses work. Working in indirect taxes involves helping a client identify any GST or customs requirements and developing relevant strategies. These are great projects if you are process oriented and enjoying developing meaningful systems across an organisation. R&D is a growing area and usually involves helping an organisation apply for a grant. It is a slightly more niche area of expertise compared to the other specialisations but will expand your knowledge beyond tax. You will work with colleagues from different backgrounds including science, engineering and technology, to really understand an organisation and its area of research. Regardless of which area of tax you work in, you will find that projects are similarly structured. You’ll work in a small team led by a partner and have access to global expertise and knowledge. If your projects are more consulting oriented, you may also work with other services such as process improvement and supply chain optimisation.

What are your career prospects in tax advisory? With business becoming increasingly globalised, it is important you understand how different tax systems work with each other. At a larger tax firm, you’ll have the chance to work with different offices and build a global network. If you’re interested in pursuing tax as a career, most larger accounting firms will support you to pursue further qualifications such as a Master of Tax. Like many of the other specialisations within the larger accounting firms, you will find the ability to move to other areas outside of tax relatively easy in the earlier stages of your career. However, post manager level, this is more difficult. Opportunities beyond the larger accounting firms will depend on your area of tax specialisation. Working in corporate tax, for example, may lead to corporate and in-house opportunities, banking or law firms. It will also be interesting to see how the compliance landscape will change given increasing automation. Choose this if you have: ■ A love of technical detail, processes and all things tax related ■ An interest in learning about companies and industries ■ Strong communication skills and the ability to break down complex issues.

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SECTORS

Chapter 2

Sectors Academia ��44 Community sector ��46 Freelance and start-ups ��50 Government sector ��52 In-house and corporate ��64 Professional services ��86

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ACADEMIA

The Business Careers Handbook 2020

Academia

Overview Academia is concerned with the pursuit of research, education and scholarship. Academics are people who work in this field, either as a teacher or researcher at a university or other higher education institution. They are typically people who study and analyse their area of specialisation before sharing their findings through teaching, publishing and participating in public discussions. An academic in a business faculty for example, might seek to analyse how leadership can be used to motivate a workforce or what an ageing population may mean for productivity in the future. While their work is largely theoretical, many academics are now seeking to blend theory and practice into their research activities. This might mean commercialising an idea, for example, developing software to detect fraud in the stock market. Having academics with real-world experience is particularly important in courses such as a Master of Business Administration (MBA) and is typically used as a drawcard to attract potential students. Entering academia A career as an academic will often begin with shortterm or casual positions as a tutor. To secure these positions you need to be a standout performer as a student. This means highly competitive marks (ideally including some academic merit prizes), strong relationships with faculty and successful admission to an honours program (many of which require prospective applicants to possess a distinction average and several references). You might also demonstrate that you’ve been involved in Peer Assisted Study Sessions (PASS). From this point, it’s a matter of continuing to distinguish yourself, through excellence in teaching and research, so that you can pursue new academic opportunities as they arise. You’ll need to make a concerted effort to publish articles in prestigious journals or take up extracurricular activities. Another way you may want to become an academic is by completing a master’s program or PhD. Today most candidates need a PhD to obtain a full-time position, as the criteria for most academic jobs tend to favour www.gradaustralia.com.au

coursework over research. Impressive professional experience is also looked upon favourably. Ideally the experience will be aligned with your research interests. For example, you have experience in audit and accounting at a large accounting firm and are interested in pursuing further research in this area. Whichever path you choose, it’s important to bear in mind that academic institutions are drawn primarily to people who possess both scholarly potential and a clear idea of their area of research. What’s involved? Academics generally divide their time between three main tasks: teaching, research and community involvement. Your teaching responsibilities will depend on your position, with lecturers, for example, generally expected to spend more time instructing students. Teaching involves more than delivering the lessons. You must also prepare classes, administer tests, mark essays, and provide students with academic support and guidance. If you’re employed at a tertiary institution and hold a relatively senior position, you may also find a lot of your time is taken up by meetings in which you set policies, review the curriculum and coordinate with colleagues to implement new academic initiatives. Most business faculties have a number of ‘schools’ within them that correspond to the university’s specialisations. For example, there might be schools in organisation and management, innovation and entrepreneurship, economics or marketing. You will typically be teaching within one of these schools. Generally, academics are expected to support the reputation of their home university by engaging in research and publishing their findings in reputable journals. There are social and professional advantages to doing this. Business academics often offer key insights that can play a role in shaping public policies, including banking regulation, or work and management culture. Best and worst The tertiary sector is perceived as offering impressive job stability and excellent working conditions.

ACADEMIA

Indeed, academics enjoy a more balanced lifestyle compared to other business specialisations, such as management consulting or investment banking. However, academia isn’t only competitive to enter – it’s competitive to succeed within. Academics are frequently under enormous pressure to publish articles in reputable journals while also teaching classes, supervising students, and travelling to attend conferences and other events. Moreover, working with large institutions, such as universities, means working within a complex system of rules and responsibilities. Academia is also not as financially lucrative compared to some business specialisations, particularly when compared to hedge funds, private equity, venture capital or investment banking. Career progression At most Australian colleges and universities, the career progression of an academic follows a somewhat predictable path, with standardised job titles corresponding to award salaries as set out by the Australian Government’s Higher Education Academic Salaries Award. Each university has an agreement with staff that includes the more relevant rules about appointments, promotions and salaries. Postgraduate research allows one to gain a PhD and begin applying for work as an associate lecturer. Associate lecturers may also be graduates who lack a PhD but have distinguished themselves with professional experience or other successes. On average, associate lecturers earn $62,000–92,000 per year. PhD students may also apply for a teaching fellowship. This gives them a teaching load that comes with an expectation of research output, which can include progress on their PhD. These are fixed-term appointments ranging from one to three years. Lecturers are academics who typically possess a PhD and significant teaching experience. They can be offered a permanent contract or a fixed-term appointment (for example, to cover for another

academic on sabbatical). The average salary of lecturers in Australia is $92,000–118,000. Generally, lecturers become senior lecturers after four to six years of experience. By this point, they are expected to demonstrate sustained competence in teaching and research, with an established academic profile. Australian senior lecturers earn $112,000– 140,000 per year. An associate professorship represents a university’s recognition of your excellence in teaching and research and is generally awarded to academics who have made a strong impact outside of ‘the academy’ (generally by influencing policy, publishing books or developing a strong international profile). They earn $149,000–188,000 per year. A professorship is the pinnacle of an academic’s career (though one’s contributions may be recognised after retirement with an emeritus professorship). Being appointed a professor means you have excelled at making significant contributions to your field of study, and over time, achieved recognition both in Australia and internationally for your research. Many professors are expected to assume administrative responsibilities, meaning they can be involved in developing curricula, reviewing applications for other academic appointments and setting university policy. Professors generally earn more than $175,000 per year. Job title examples: ■ Tutor ■ Lecturer ■ Course coordinator ■ Dean ■ Researcher. Choose this if you: ■ Have an exceptional academic transcript ■ Love research and have an inquiring mind ■ Are highly self-motivated ■ Wish to teach. www.gradaustralia.com.au

COMMUNITY SECTOR

The Business Careers Handbook 2020

Community sector

Overview The Australian community sector – sometimes referred to as the not-for-profit sector, third sector or social sector – encompasses a variety of organisations that are neither commercial nor governmental. These organisations pursue a range of charitable purposes through service delivery, grant making and other activities, which advance health, justice, education, social welfare and religion. In Australia, the community sector is highly fragmented. Indeed, there are almost 55,000 registered charities according to the Australian Charities and Not-for-profits Commission (ACNC). These can range from global charities such as the Red Cross, Oxfam, ChildFund or Amnesty International to Australia-specific organisations such as Starlight Children’s Foundation and The Smith Family, to much smaller and less well known organisations.

usually very competitive organisations to get into and typically prefer experienced hires instead of graduates. Other community organisations do not typically have the scale – or funds – to run official graduate programs. However, this doesn’t mean they are not interested in hiring graduates. If you are interested in a specific organisation, it is worth reaching out to them directly and asking about job availability. Another way to gain experience in the community sector is by volunteering and getting to know the people involved in an organisation, so you are ‘front of mind’ when they are looking to hire. Often entry into the community sector is via word of mouth, although jobs can be advertised through more official means. Again, this is more likely in larger community organisations than smaller ones.

All of these organisations essentially have the requirements of a typical business. While they may have a core service, such as community outreach, they still need the usual support functions such as marketing, accounting, operations and supply chain. As such, the community sector is always looking for talented individuals with business skills.

Alternatively, if you would like to contribute to the community sector without necessarily committing to it, you might research organisations that have a corporate social responsibility (CSR) program. There may also be some professional services or advisory firms that run official pro-bono programs or at least have pro-bono clients.

Entering the community sector Given the breadth of the community sector and the issues with which the community sector deals, the first step to finding an entry point is figuring out which social challenges you’re most passionate about.

There are also some pockets of more commercial organisations with a social purpose focus. For example, Social Ventures Australia (SVA) is a management consulting firm, which focuses on solving social challenges. SVA is known for hiring experienced consultants from top-tier organisations such as McKinsey, who want to use their skills for good.

For example, if you are interested in international development and aid, you may gravitate towards working for an organisation such as the International Monetary Fund (IMF) or World Bank. If you are passionate about addressing homelessness, disadvantaged youth or violence against women, you may find it more fulfilling to work for an advocacy group. The competitiveness on entering the community sector very much depends on the type of organisation. International development organisations such as the IMF or World Bank are considered highly prestigious organisations with high impact. As such, these are www.gradaustralia.com.au

While not prevalent yet, we are also seeing the rise of investment funds, often known as ‘green funds’, which focus on investing in companies that are deemed socially responsible. This may be another nontraditional way of becoming involved in the community sector. What’s involved Your day-to-day work at a community organisation will very much depend on your specialisation. For example, if you are a marketer, you will focus on promoting your organisation and developing and managing

COMMUNITY SECTOR

fundraising campaigns. If you are in the accounting and finance team, you will focus on managing the money raised from these fundraising campaigns and implementing budgets. To a large degree, if you have a business specialisation and are working at a community organisation, you are more likely to be working at a head office rather than in the field. This is not to say however, there won’t be opportunities to see your organisation ‘in action’. If your organisation fundraises in Australia but uses the money to help individuals in other countries, you may have the opportunity to visit and see the impact of the organisation’s work. Or if your organisation does a lot of outreach work in specific communities – with at-risk youth, for example – you may have the opportunity to spend some time learning about and helping these individuals or communities. Furthermore, if your specialisation is in consulting, whether in strategy, technology, process or operations, you may be required to spend more time in the field to better understand front line operations. Best and worst The community sector is often perceived as offering lower average pay than other sectors, and there is some truth to this, with salaries in the community sector generally lower than those offered by corporate or professional service organisations. The good news is that community sector jobs often offer increased flexibility, as well as tax benefits through competitive salary packaging. They also offer other rewards including the satisfaction of knowing one’s work is making a meaningful and positive difference to the lives of socio-economically or otherwise disadvantaged individuals or communities.

Indeed, knowing you’re making a difference – and seeing your impact – can be a powerful motivator. Career progression Your career progression in the community sector will depend on the organisation you choose to work for. Given the relatively smaller size of these organisations, as compared to larger corporations or professional services firms, there may be some limitations to progression. Restricted funds may make it difficult to be promoted or argue for an increased salary, particularly as community organisations are highly conscious of being responsible and accountable about how funds are spent. At times, this may be frustrating and progression may come by joining another organisation. Typically, you will find it easier to cross over from the commercial sector to the community sector, rather than the other way around. Some organisations highly value commercial experience and as such, you may find it faster to move into a more senior role as an experienced hire than through internal promotion. There are of course, exceptions to this rule. For example, if you work at an organisation such as the IMF, the transition back to the corporate or professional services sector is likely to be much easier. As some community organisations are international, or at the very least, may do international work, there is also scope for some travel and spending more time in the field. Choose this if you: ■ Feel strongly about a specific social challenge ■ Wish to contribute to your community ■ Are passionate about social justice. www.gradaustralia.com.au

COMMUNITY SECTOR

The Business Careers Handbook 2020

On the job

Alex Cain

How did you get to your current job position? I first found Project Everest Ventures at a university careers fair in June 2019 and they encouraged me to apply for the internship online. After a couple of interviews and a pre-departure training day I started working with the company in Fiji, completing a 4-week internship on an agriculture technology project. Since completing the internship, I have continued my connection with Project Everest Ventures; I’m about to complete my team leadership training to hopefully return overseas on a project as a team leader. How did you choose your specialisation? Of the four countries that Project Everest Ventures operates in (Fiji, Malawi, India and Timor-Leste) I decided to work on a project in Fiji. Initially I saw it as an opportunity to travel to a picture-perfect destination and work at the same time; it ended up as a much more authentic experience where we really got to engage with the Fijian culture. As the project progressed, it became evident there were many issues with the local agricultural supply chain and that’s when I knew the project really had the potential to positively impact the lives of the local community. What does your employer do? Project Everest Ventures aims to solve social issues using business solutions in developing countries. With the help of university students, they set up social enterprise businesses in these countries. These projects are designed to work towards solving some of the United Nations’ sustainable development goals, such as ‘no poverty’ and ‘zero www.gradaustralia.com.au

hunger’. Project Everest Ventures currently operates across a range of project areas, such as renewable energy and fuel alternatives, agriculture and economic empowerment. What are your areas of responsibility? As a social impact intern, or ‘Trekker’, you are given lots of freedom to decide how to execute the project goals set by the project development and leadership teams. My key responsibilities included organising meetings with farmers, NGOs, government officials and middlemen. We’d also conduct a range of stakeholder interviews, where we would ask set questions to validate some key assumptions, as well as open-ended emotional questions to uncover deeper insights and understandings. Finally, I was responsible for preparing a handover report for the next team to take over the project at the end of our internship period. It was great to be given such a high level of freedom and trust by the team leader, as it felt like I was responsible for the day-today direction of the project. What are the career prospects with your job? Project Everest Ventures has significantly more interns than full-time employees. They are very open that full-time graduate roles are limited due to the relatively small size of the company. However, there are still many opportunities to continue working with Project Everest Ventures through their alternative pathway opportunities. These include returning as a team leader, experienced trekker, or joining the marketing or recruitment teams in Australia.

Alex Cain studied a Bachelor of Commerce/Bachelor of Economics and is a social impact intern at Project Everest Ventures.

Study Bachelor of Commerce/ Bachelor of Economics, University of New South Wales, ongoing

ROLE Social impact intern, Project Everest Ventures

Project Everest Ventures aims to solve social issues using business solutions in developing countries. With the help of university students, they set up social enterprise businesses in these countries.

CAREERS INTELLIGENCE MCGRATHNICOL GRADUATE REVIEW: TRAINING

We have a grad camp that goes through the basics, fortnightly check ups with managers to ask any questions plus a variety of other training courses that are run throughout the year. – Graduate, McGrathNicol, Sydney

RURAL BANK GRADUATE REVIEW: DIVERSITY

An extremely inclusive and diverse workforce who encourages development and promotion of people from all walks of life. – Midlevel, Rural Bank, Wagga Wagga

TAL GRADUATE REVIEW: JOB SATISFACTION

Day to day responsibilities involve meaningful projects where I get to have a say and add value to the team and business. As a graduate the company really ensures we get the opportunity to work on exciting projects that lead to developing important skills in the workplace. – Graduate, TAL, Melbourne

FREELANCE AND STARTUPS

The Business Careers Handbook 2020

Freelance and start-ups

Overview Sometimes, we want to take the road less travelled. If working for a big corporation or professional services organisation isn’t your thing, you may want to join a start-up or become a freelancer. In fact, while the road towards start-ups and freelancing is not the traditional choice, it is an increasingly well trodden path – and we can only see this trend continuing. Some people choose to work in start-ups simply for the experience. They are industry agnostic and just want to understand the start-up environment. Others join start-ups because they are deeply passionate about an industry or specific product or service. Joining a start-up can be an exciting journey as you learn how to build something from the ground up. As a freelancer, you have much more autonomy – over your time, where you work and the projects you choose. Like start-ups though, being a freelancer comes with its risks. Not always knowing when your next pay cheque will come in or what lies ahead requires confidence and a high tolerance for uncertainty. Entering the freelance and start-up sector Start-ups are typically classed according to the funding received. An early stage start-up will seek ‘seed’ funding, which is typically used to undertake initial research and development. Once the idea is validated, Series A funding is used to continue building a track record. Series B and C are later round funding to help the start-up scale, before eventually being sold to another organisation or listed on the stock exchange. Deciding what stage to join a start-up will have implications for the type of work and your financial rewards. For example, an earlier stage start-up will likely be more open to negotiating equity compared to established start-ups. Remember, organisations such as Airbnb, Spotify and Uber are still often referred to as start-ups, although they are well established and in many markets. Start-ups will often prefer experienced hires that can hit the ground running, so it may be easier to apply after a couple of years’ experience. However, start-ups www.gradaustralia.com.au

love people who are passionate about their product so if you are enthusiastic about an organisation, it is still worth reaching out. As start-ups often don’t have formal recruitment channels, growing your network and keeping an eye on venture capital organisations are great ways to find interesting start-ups. Alternatively, if you’re interested in start-ups but prefer something a little less risky, you may look for larger organisations that have in-house incubators or innovation labs. These are often run like start-ups but with the backing – and funds – of a corporate organisation. Another option is to work for a venture capital firm. Venture capital firms are in the business of picking start-ups to invest in. While working for a venture capital firm is not quite the same as building an organisation from scratch, you still get to be involved in the journey of the start-ups you invest in and see them grow. Becoming a freelancer means establishing your own brand, reputation and demonstrated record of performance. As a graduate without experience, it is difficult to trade on these intangible assets. There is, however, an increased demand for contractors in management consulting with more than two years’ experience, particularly those from top-tier consultancies such as McKinsey, Bain, and Boston Consulting Group (BCG). There is also demand for contractors in areas such as accounting, marketing and operations. Getting work as a freelancer often means relying on word of mouth. You may find work with clients you have worked with previously or through their referrals. Freelancing opportunities are also available through recruiters or organisations such as Expert360, which specialise in matching contractors to corporates seeking their work. What’s involved Your experience at a start-up will depend on the size of the start-up. At early-stage start-ups, job roles may not be clearly defined, with people wearing many hats and pitching in to do what’s needed. The environment is dynamic, fast paced and intense. As a start-up becomes more established, it is typical for it to operate in a similar manner to traditional organisations with more structured processes and systems.

The Business Careers Handbook 2020

Depending on your specialisation, you may be involved in anything from accounting and financing to marketing, product development and sales. Many startups are focused on validating their idea by bringing it to market as quickly as possible and iterating based on feedback. The continuous feedback loop is important to make the product as viable as possible – with this track record, it is easier to attract new investment. As a freelancer, your experience will depend on the project at hand. Some may be short and intense, and require more on-site time, while others may allow you to work from home or remotely. Either way, you will be expected to ‘own’ the problem and drive the project forward using your skills. A successful freelancer is able to work independently but also reach out to the client as required for further direction. You will also learn to develop your sales skills as you begin to pitch for more work or follow-on projects. Best and worst Working at a start-up can be an exhilarating ride. Knowing that you can have a large impact is a great motivator. At the same time, start-up life can be demanding, stressful and intense. You need to be comfortable with ambiguity and experimentation. Without the resources to draw on, like a traditional corporate or larger organisation, you’re often left to deal with things by yourself. This can mean long hours, less flexibility and a sense that the amount of work and problem solving is infinite. Moreover, the potential lack of job security can be unsettling. On the upside, you will learn immensely valuable skills, which are easily transferable.

FREELANCE AND STARTUPS

You will face similar challenges as a freelancer. Being a freelancer means being in control of your own destiny – and often this can be working the hours you want, when you want. However, not knowing when your next freelance gig might come along and being your own business development manager can be a challenging and stressful experience. Again, being comfortable with uncertainty is key. The lack of job security however, is often balanced with greater flexibility and financial rewards. Career progression If you choose to stay at the start-up, you may find your role change as the organisation grows. Being flexible in your approach and open to learning new skills is critical. Plus, if the start-up is a success, you may be able to trade on this to work at other start-ups. If you decide to move on beyond the start-up world, you may be interested in working at a venture capital firm or helping other organisations in your specialisation. If you are successful as a freelancer, you may look to start your own business in your specialisation and hire other people to help you with your work. This may allow you to spend more time on winning new business. Alternatively, if you decide that freelancing is not for you, you may look at going in-house or working for a professional services firm. Choose this if you: ■ Love taking risks and have a high tolerance for ambiguity and uncertainty ■ Want to try something different ■ Aren’t afraid of working hard for something you love. www.gradaustralia.com.au

GOVERNMENT SECTOR

The Business Careers Handbook 2020

Government sector

Overview Working in the government sector can be a rewarding experience. You learn what it takes to run a country, a state, a community – and the potential is immense. You might be behind the scenes designing a new policy, or working closely with local constituents to understand and meet their needs. Or maybe you are working to launch a new initiative that will help the lives of those around you. In Australia, there are three levels of government: federal, state and local. At the federal level, the Australian Government develops laws for the whole of Australia. They are responsible for anything to do with the national interest: defence, foreign affairs and trade, immigration and border protection, social services, treasury and more. These portfolios are overseen by a government minister and supported by numerous government agencies. For example, the Australian Government launched a new Home Affairs portfolio, which will be responsible for government agencies such as the Australian Federal Police, the Australian Border Force and the Australian Security Intelligence Organisation (ASIO). Similarly, the Treasury in Australia is responsible for providing economic advice to the Australian Government and oversees government agencies including the Australian Taxation Office (ATO), the Australian Bureau of Statistics (ABS), the Australian Competition and Consumer Commission (ACCC), the Productivity Commission, and Reserve Bank of Australia (RBA). Australia’s six states and two territories make laws for their specific region typically in the areas such as schools, hospitals, roads, police, prisons, emergency services, community services, and conservation and the environment. In some cases, the responsibilities may overlap between federal and state. Australian schools, for example, are eligible for both federal and state funding. The state government operates in a similar way with ministers allocated a specific portfolio that is supported by state government agencies. www.gradaustralia.com.au

At the local level, there are over 560 councils across Australia. These councils are responsible for making local laws, known as by-laws, and deal with matters ‘close to home’ such as local environmental issues, waste disposal, local roads and footpaths, parks and playing fields, libraries, and building regulations and development. The size and area covered by a local council varies greatly. As you can see, there are a large number of government agencies and public bodies at the different levels of government, many of which offer graduate programs. Entering the government sector Most government agencies and departments that recruit graduates have regular and well organised admission programs that take applications during fixed periods each year. The easiest way to learn more about the different programs, including application procedures and what will be expected of new recruits, is to search for graduate programs on the Australian Government or APSJobs website, or by visiting gradaustralia.com.au. The federal government for example, offers graduate employment programs, sometimes called an ‘entrylevel professional program’. These are advertised in February/March and June each year with closing dates around April and August. Each state or territory government will have their own graduate program. Local governments in capital cities usually have annual (or twice yearly) graduate employment programs but regional and rural local governments are less likely to have regular opportunities. To see if there is a local government graduate program, search for the council of the city you wish to consider. Government jobs tend to be highly competitive. Given their popularity, you shouldn’t be surprised if the application process is unusually rigorous. For example, to apply at the Department of Home Affairs, candidates must successfully move through a detailed online application, online testing, a video interview, an assessment centre, a referee record and security clearance.

The Business Careers Handbook 2020

While competition for graduate roles is fairly high, it is important to note that grades are not the only factor considered. Involvement in extracurricular activities as well as previous work experience are a good way to demonstrate your passion and interest in working for the government. The starting salary will depend on the program and occupation. Salaries typically range from approximately $50,000–65,000. Alternatively, if you are interested in politics and have an affiliation with a particular political party, it is worth reaching out to the organisation to see if they have any graduate availabilities. Typically the best way to gain experience in these parties is by volunteering your time and joining a local branch. What’s involved Like many of the other sectors, your experience in government will depend largely on your specialisation as well as which department or agency you join. For example, if you wish to enter the Department of Human Services you will need to apply for the National Graduate Program. This program has a generalist pathway, made up of two five-month placements in diverse disciplines; and a professional pathway, which allows graduates to focus intently on one of six disciplines for 10 months. As part of this program graduates will spend three days in a service centre or smart centre, and have the opportunity to apply for a three-month Indigenous and multicultural placement, where they may be placed in areas such as Alice Springs or Broome. Regardless of which area of government you may be drawn to, what’s required across all specialisations is a deep understanding of the role of government. Understanding, for example, how parliament sitting weeks might work or how to introduce a bill for legislation is important if you work at the federal or state levels. Governments, regardless of the level, are responsible to their constituents. Being able to anticipate their needs, and develop policies and strategies to meet them, is critical.

GOVERNMENT SECTOR

While government salaries tend to be competitive, it’s also true that average salaries are higher in the private sector. So, if remuneration is of high importance to you, you may feel frustrated within the government sector. On the upside, seeing the impact of your work, particularly on a large scale, can be highly rewarding. Career progression Since the government hires more employees than any other entity in Australia, government graduate jobs will see you well placed for ongoing employment. While the process for getting into government may be reasonably competitive, once you’re ‘in the system’, there is scope for moving around. Within individual departments and agencies, there are opportunities for promotions, allowing movement from junior roles into senior positions that offer more influence. Upward progression may ultimately see you, for example, as the head of a department. Alternatively, it’s possible to apply for government positions after gaining experience in the private sector. It should be noted however, this tends to be easiest either at the early or later stages of your career. Employer examples: ■ National government agencies ■ State-based agencies ■ Parliament. Choose this if you: ■ Are committed to public service ■ Understand that you may have to invest large amounts of time in a stringent application process ■ Can demonstrate flexibility when it comes to where you’ll be working.

Graduate positions are mostly found within capital cities but as more general government jobs are available throughout Australia, there are ample opportunities to transfer once the graduate program is completed. Best and worst Government jobs are synonymous with stability, with reasonable salaries often supplemented by excellent working conditions. As many government jobs are based in Canberra, there are often programs to help government employees with their relocation process. Other benefits of working in the government sector include appealing professional development opportunities and attractive leave provisions.

APRA graduates will benefit from a mentoring program, as well as a ‘buddy’ system and the opportunity to rotate to another APRA division in your first year.

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GOVERNMENT SECTOR

The Business Careers Handbook 2020

On the job

Daniel May-Franks

Where are you from? My family originates from the Kamilaroi mob and are currently living on Tharawal land. What is your job title? I am a graduate at ASIC. What did you study? I studied a Bachelor of Business with a double major in Management and Human Resource Management. I have a Graduate Certificate in Human Resource Management and am currently studying for a Master of Commerce. How did you get to your current job position? For how long have you had it? I heard about ASIC’s prestigious reputation from my mum and uncle when I was close to graduating and at that time I was unsure of where I wanted to start my career. I went online and did some research on ASIC before applying for the graduate program via their website. I’ve been working at ASIC since January 2018. Suppose a student was considering your career. What would you advise them to study? I recommend students study something that interests them. In the end, if you’re studying a field you find intriguing then you will get more out of it than a field in which you’re struggling to maintain motivation. Which soft skills would be beneficial for students to develop? No matter where you find yourself in your career, the main soft skills that will be beneficial are teamwork, adaptability and www.gradaustralia.com.au

problem solving. These soft skills will benefit you in all aspects of life. What sort of person succeeds in your career? Someone who embraces change, continuous learning and development, and loves variety. As a graduate at ASIC, from day one you’ll be exposed to a diverse range of work. Which three pieces of advice would you give to students nearing graduation? Always try something new; you never know what your next new favourite thing will be. Take it one step at a time and move at your own pace. Not everything is a race to the finish line. Share and communicate with those closest to you. You can never underestimate the value of a solid support network. Find out more www.gradaustralia.com.au

Daniel May-Franks studied a Bachelor of Business, a Graduate Certificate in Human Resource Management and is currently studying a Master of Commerce. Daniel is a graduate at ASIC.

Study Bachelor of Business (Management, Human Resource Management), Griffith University, 2017; Graduate Certificate in Human Resource Management, RMIT University, 2018; Master of Commerce, RMIT University, (in progress)

ROLE Graduate, ASIC

As a graduate at ASIC, from day one you’ll be exposed to a diverse range of work.

The Business Careers Handbook 2020

GOVERNMENT SECTOR

On the job

Jane

What does your employer do? ASIO protects Australia, its people and its interests from threats to security. ASIO’s finance team are here to enable ASIO to do this within Australia’s financial framework. My team and I are supporting our people and the organisation to do incredible work that makes a real difference to the community. What are your areas of responsibility? My current role is running a small team delivering accounts payable and receivable services, with responsibility for fringe benefits tax and GST, preparation of the annual financial statements as well as monthly financial reports to management. The role also involves ensuring the organisation and its staff are positioned to comply with financial legislation, accounting standards and government guidelines. Can you describe a typical workday? My work day depends on which week of the month it is. There are daily deadlines getting suppliers and staff paid and a lot of accounting adjustments and reporting each month end. We have just had the big end of financial year push to ‘close the books’ and prepare the financial statements ready for the auditors mid-July. There’s always something to do, so it’s definitely a job for someone who enjoys a fast-paced, deadlinedriven work environment. While financial services is an enabling function, you can definitely see how it contributes to what ASIO does on the ground, especially as we get

to attend regular sessions on the operational side of the organisation. Where could you or others in your position go from here? I was attracted to this organisation because of the opportunities for advancement within financial services, but also opportunities to move to other areas within ASIO or even more broadly within the National Intelligence Community and government. Accounting is the type of career that is very portable between the public and private sectors, and all industries. I believe the ASIO Corporate Graduate Program has provided me with a great foundation for wherever I decide to go with my career in the future. What would your career be if you weren’t doing what you’re doing now? Had I not chosen to come to ASIO, I would likely have pursued a career in private practice or in consulting. Being exposed to national security issues makes me really glad that this is the career path I chose.

Jane studied a Bachelor of Business (Accountancy) and is a team leader in Financial Services at ASIO.

Study Bachelor of Business (Accountancy), RMIT University, 2018

ROLE Team leader, Financial Services, ASIO

What do you love the most about your job? As an ASIO accountant I love being able to see how my day-to-day work enables and contributes to ASIO’s overall mission. At the same time, I am fortunate to work for an employer who offers flexible working hours. What’s the biggest limitation of your job? You are not allowed to talk about the work you do or even the fact you work at ASIO, which can be difficult, but on the other hand, I can’t take any of my work home with me!

Accounting is the type of career that is very portable between the public and private sectors, and all industries.

GOVERNMENT SECTOR

The Business Careers Handbook 2020

Day in the life

Valerie Wong

8.00AM Out the door and on my way to the APRA offices in the Sydney CBD. I have a bit of a commute, but I enjoy time on the train with a bit of music and the Harbour views. 8.30AM I check my emails to see if there is anything that needs my attention, so I can prioritise my tasks for the day. Today will be a longer day than usual because I have a call with a European prudential regulator to discuss one of the entities in my portfolio that has operations in Europe and Australia. 9.00AM In my role as a frontline supervisor, I need to undertake quarterly financial analyses for each of the entities in my portfolio. Today I am reviewing the data prepared by our data analytics team on one of my entities. The review includes understanding their financial

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performance, how theyâ&#x20AC;&#x2122;re tracking compared to their business plan and the previous quarter, and if there is anything essential that I should follow up on.

Valerie Wong studied a Bachelor of Commerce (International Studies) and is a graduate analyst frontline supervisor at APRA.

10.00AM I meet with one of my colleagues for a coffee. As part of the graduate program we are partnered with a buddy who has been in the graduate program the previous year. Itâ&#x20AC;&#x2122;s great to have a sounding board who has already been through the program. 10.30AM I call my contact at the entity whose data I had been reviewing. We discuss the changes and they explain what had happened. I note the relevant matters in my analysis report. 11.00AM I have a meeting with my team and some of our specialist risk

team members. The meeting is in preparation for an upcoming prudential review into a specific risk area of one of our entities. We spend the meeting looking into documents submitted for the review and making notes of matters to discuss when we meet with the entity. I enjoy meeting with the risk specialists within APRA because

The Business Careers Handbook 2020

they’re very collaborative and happy to share their specialist knowledge. 12.15PM I head out of the office with some colleagues for a lunchtime game of netball. It’s great to get to know some of my colleagues away from the office, even though our team is more about enthusiasm than winning. 1.00PM I have my weekly one-on-one meeting with my manager. We use the time to chat about how I am going, raise any issues and ask for advice. I am still developing my general insurance industry knowledge and my manager is always happy to help me. I have been stuck on the technical application of one of APRA’s prudential standards, and my manager talks me through the calculations and gives me advice on how to understand the wording of the standard. 1.30PM My team and I are part of a licensing review for an entity that has applied to operate in Australia. Our licensing team manages that process, but we have been asked to review the application and develop a submission on the merits of the application.

GOVERNMENT SECTOR

We have a meeting to discuss the application tomorrow, so I spend time finalising our submission on our position as to its ability to meet the licensing criteria. I also make notes on what I would like to present to the licensing team. 3.00PM To make sure I am across the new and emerging trends in the industries we regulate, I attend an information session from our policy and advice division. Today’s session covers a number of important topics, including details of some upcoming prudential standards and an update on the work APRA is doing with the Basel Committee on banking supervision. These sessions are really helpful in ensuring I have all the information I need to help my entities understand the new standard and what it might mean for them. 4.00PM The entity I called earlier today has resubmitted their data and I examine the spreadsheet, looking for any other areas of interest. I also pull out an industry-wide spreadsheet that our data analytics team prepare every quarter and make sure that the numbers I personally received from the entity have been updated within APRA’s systems as well. I finish writing up

my analysis before sending it to my manager for review. 6.00PM Due to the significant time difference between Sydney and Europe, my team and I finish the day with a conference call with the international regulator. As one of my entities is headquartered in Europe, we make sure to catch up periodically to discuss their performance in both jurisdictions. I take notes on how the parent company is performing and consider if there are any areas to follow up with the Australian entity. 7.00PM My manager thanks us all for staying late and encourages us all to take an early mark tomorrow. Finally home time! 7.30PM I attend a pilates class because it’s always good to move around after a busy day of work. 9.00PM I go home, relax with my family and catch up with some friends over the phone. 11.00PM Sleep time.

GOVERNMENT SECTOR

The Business Careers Handbook 2020

On the job

Jack Oliver

What does your employer do? The Department of Home Affairs undertakes a wide array of functions. These include immigration and migration policy and facilitation, border security and transport security operations, national security policy and operations, counterterrorism coordination, and even relief efforts for areas affected by natural disasters.

issues or a development topic. While this does not necessarily need to relate directly to the subject matter, the transferrable skills and knowledge are likely to be applicable. I’ve worked with graduates who have backgrounds related to law, policy, international relations, human resources, accounting, national security, counter-terrorism and even the armed forces.

How did you choose this area of work? A friend was applying for the Australian Government graduate programs. This was the first time I’d heard of the Home Affairs Graduate Development Program. I decided to apply given my tertiary background in policy and interest in national security issues. I was drawn to the Department’s vision of social justice and community support. I found the prospects of internationally based project work and the work the Department does in relation to national security policy very exciting.

What’s the biggest limitation of your job? The biggest limitation has been the relocation. It’s not easy leaving friends and family behind, but the opportunity to participate in exciting work and make new friends along the way helps. Also, the degree of stress can sometimes peak but it never becomes overbearing. If anything, getting the tap on the shoulder for high-priority work is an indicator of your own value within the Department.

What are your areas of responsibility? I currently work within Border Alignment Policy. There are a number of border programs and operational frameworks that exist between departments. To reduce the burden on industry, the public and on the public service, I contribute towards having these work together more cohesively rather than separately. Can you describe a typical day? It can vary between research tasks, studying and clarifying legislation that will inform my work, and engagement with one of our stakeholders to determine next steps for implementation of a project. Suppose a student was considering your career. What would you advise them to study? I would suggest pursuing a tertiary qualification in policy, international

What have you enjoyed the most? The highlight of my graduate year has been the graduates themselves. I’ve never had so much fun making friends at work. We’re like family and the Department supports networking openly. What advice would you give to a student? While a position in a government department is a big deal, it’s not something to be intimidated by. Don’t be discouraged if you don’t know everything about politics. I certainly didn’t, but I was willing to learn. Development of staff is a key element of the Department, which means a lack of experience is something colleagues look to nurture and improve. People are approachable, happy to provide support and always understanding of your inexperience within the role.

Jack Oliver studied a Master of Social Policy and is a graduate in Border Alignment Policy within the Department of Home Affairs.

Study Master of Social Policy, University of Melbourne, 2016

ROLE Graduate, Border Alignment Policy, Department of Home Affairs

Development of staff is a key element of the department, which means a lack of experience is something colleagues look to nurture and improve.

The Business Careers Handbook 2020

GOVERNMENT SECTOR

On the job

Daniel Wall

What does your employer do? Our department works on infrastructure projects all around Australia, as well as overseeing most transport policy and regional development policy. What are your areas of responsibility? At the moment, I’m working in the environmental standards section of surface transport policy. It’s an incredibly interesting area to be working in. There’s a lot of work around electric vehicles and vehicle emissions to be done at the moment! Can you describe a typical day? A lot of what I do is work on drafts of briefs for either ministers or the executive of the department. Ministers and executives have a lot of information to absorb, so it’s important to be able to summarise succinctly what you’re working on and why it’s important for them to know! What sort of person succeeds in your career? One of the most important things for success is having good interpersonal skills. Your team will work better if you understand their emotions and become a member that your team wants to have around. Everyone works harder if it’s an enjoyable work environment and the best way you can foster that is by being a fun, nice colleague! Could someone with a different background do your job? It’s my opinion that this is definitely the case. The skills required for my job are not the skills I learned in my tertiary www.gradaustralia.com.au

studies. I feel that as long as you have decent written and verbal communication and a willingness to learn, you would be able to perform quite well in my role. I think this is well illustrated by the diverse range of educational backgrounds of the graduate cohort this year. What do you love most about your job? The working conditions in the public service are excellent. Any hours over your contracted 37.5 hours are accrued as flex leave and the culture is great. People value you as a graduate and give you interesting tasks, which really benefit your development and learning. So far I have really enjoyed the research tasks. It can be really interesting to learn a whole lot about electric vehicles! What’s the biggest limitation? The hardest thing about my job is that I don’t possess the skills to complete all tasks, even if they are urgent. My team understands this so they don’t give me these tasks – and I will develop these skills over time – but in the meantime it can be difficult to sit back while my team completes urgent tasks. What advice would you give to a university student? Make a lot of friends. The people you meet at university could go on to be some of the most successful people in their respective fields. Be friendly with people in your classes and they may just remember you when they’re interviewing you for that next job!

Daniel Wall studied a Bachelor of Commerce (Management)/ Bachelor of Arts (Political Science) and is a graduate at the Department of Infrastructure, Transport, Regional Development and Communications.

Study Bachelor of Commerce (Management)/Bachelor of Arts (Political Science), Australian National University, 2016

ROLE Graduate, Department of Infrastructure, Transport, Regional Development and Communications

It’s an incredibly interesting area to be working in. There’s a lot of work around electric vehicles and vehicle emissions to be done at the moment!

GOVERNMENT SECTOR

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On the job

Andrea Macleay

Where did you grow up? What were some important stages of your life? I grew up in Rozelle, Sydney. Prior to starting university, I took a 10 month gap year backpacking around Europe. Throughout university, I had several different jobs, which were all valuable experiences. I also rowed competitively. The discipline, focus and drive from rowing were valuable traits that I continued to apply to my life and my work. How did you get to your current job position? I’ve been in my role at the Treasury since February 2019. When going through the Treasury graduate website I was really surprised by the number of different areas within the Treasury and I thought, this is just too much of an incredible opportunity not to take the plunge for and I applied! What was your interview process like? What kind of questions were you asked? The questions were focused on my experiences, like explaining a time when I was in a situation when things went wrong and what was done to resolve the situation. The final question was related to a key policy issue for the Treasury that I think is important and why. My response was about the low wage growth in Australia. What does your employer do? The Treasury analyses a range of issues from an economy-wide perspective, working with the government, stakeholders and community to address issues and respond rapidly to current circumstances. What are your areas of responsibility? Facilitating the government’s fiscal strategy and macroeconomic

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balance by managing the Commonwealth’s budget process and advising Treasury ministers on the overall strategy for the Budget and tracking the Budget aggregates in real time. Can you describe a typical work day? My typical work day involves coordinating and communicating with other areas in the Treasury and other departments, working in my close-knit team to provide policy advice on various government proposals and the real-time tracking of budget aggregates. What are the career prospects with your job? You could move across different government departments and work on a range of careers in economic, legal or policy roles. The quantitative and qualitative analytical skills, understanding of government processes and experience in fiscal policy is an incredible asset to any career.

Andrea Macleay studied a Bachelor of Economics and is an analyst at the Department of the Treasury.

Study Bachelor of Economics, University of Sydney, 2018

ROLE Analyst, Department of the Treasury

Could someone with a different background do your job? Yes absolutely, as long as you have an appetite to learn and be challenged, my role would suit anyone with the enthusiasm for a challenge and enjoys working in a team environment. Which three pieces of advice would you give to a current university student? ■ Remember to enjoy the university experience outside of academics. ■ Don’t sweat the small stuff. When you make a mistake, learn from it and move on. ■ If you don’t understand something, don’t be afraid to ask for someone to explain.

Don’t sweat the small stuff. When you make a mistake, learn from it and move on.

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GOVERNMENT SECTOR

On the job

Nafees Alam Beg

How did you get to your current position? After my studies, I took a job as a business analyst, which was great because I was able to work on challenging problems. However, I eventually decided I wanted to change direction, which is when I discovered the NSW Government Graduate Program. The application process was long and competitive, but I received plenty of updates and guidance along the way. Iâ&#x20AC;&#x2122;ve been in my current position since February 2019. I think there are two main reasons why I was offered a role. The first was my experience, which gave me convincing examples to talk about in interviews, and the other was my academic background. Studying economics and computing gave me a unique skill set. Could someone with a different academic background do your job? There are certainly economists who had not studied economics prior to starting their careers, but they are few and far between and many pursue post-graduate qualifications. The work is deeply linked to university content and without that background, the already steep learning curve could be difficult. I would say though, that an economics degree is not the requirement, but rather a degree or experience that develops quantitative research skills and a general understanding of economics concepts. What does your employer do? My first rotation was in the Department of Communities and Justice, which is responsible for the provision of social housing and child protection services to the most vulnerable people in NSW. Here I

was placed in the economics team. The team was cross-functional and worked on projects like investment modelling, unit costing and costbenefit analysis. The investment modelling project looked at client pathways through the social housing system to estimate and identify the drivers of economic liability, projected out into the future. My current rotation is with NSW Treasury, which is a central agency responsible for preparing the NSW budget, financial management, providing informed advice, risk management and evaluation. Within NSW Treasury, I am working in the macroeconomic analysis, research and strategy team. Here, I regularly prepare and distribute snapshots on key economic indicators such as business conditions, retail trade and consumer sentiment. My team is also tasked with responding to various requests, which may be briefs, research topics or presentation slides. Periodically, we also have forecasting rounds where the team conducts deeper modelling of all components of the economy to produce a well informed opinion of the outlook, which then informs policy decisions. What are the pros and cons of your work? A great aspect of my role is developing a skill set that is widely transferrable. Technical skills like research, modelling, forecasting, accounting and programming are useful in many different roles. The biggest limitation is that there is always a lot of work to keep up with and there is frequently something urgent to work on. Research is my favourite part of the job.

Nafees Alam Beg studied a Bachelor of Commerce (Finance)/ Bachelor of Economics (Financial Economics) and a Graduate Certificate in Computing. Nafees is an economic analyst at the NSW Treasury, NSW Government.

Study Bachelor of Commerce (Finance)/Bachelor of Economics (Financial Economics), Graduate Certificate in Computing, University of New South Wales, 2018

ROLE Economic analyst, NSW Treasury, NSW Government

Technical skills like research, modelling, forecasting, accounting and programming are useful in many different roles.

GOVERNMENT SECTOR

The Business Careers Handbook 2020

On the job What are your areas of responsibility? An auditor’s responsibilities consist of gaining an understanding of their client, developing an audit plan, then obtaining audit evidence and testing it against financial statements – providing reasonable assurance that these statements are free from material misstatement. For this financial year I am working on the Department of Social Services audit. My last task was to gain an understanding of their processes around purchases and payables. To do this, I attended a series of meetings, took notes/minutes and prepared a working paper detailing my understanding. This will be reviewed by a senior officer and become audit evidence. In terms of career progression, where could you go from here? Within the ANAO I can aim for leadership roles, including senior auditor and audit manager. I could

also move to other Commonwealth or state public sector departments, or the private sector. The technical and soft skills you gain as an auditor are highly sought after. Could someone with a different background do your job? To work as an assurance auditor, a finance/accounting background is highly recommended. That being said, I do believe graduates can learn on the job, so a graduate with the right mindset would be able to learn the skills. In addition, the ANAO has different groups – for example, performance audit, data analytics and corporate – that accommodate the vast majority of backgrounds from politics to archaeology.

Thiago Gomes

Thiago Gomes studied a Bachelor of Accounting and Business Law and is an auditor in the Assurance Audit Services Group at the Australian National Audit Office (ANAO).

What do you love most about your job? What I love is using my professional scepticism and objectivity, and being able to think outside the box to address different challenges in different situations.

The NSW Government Graduate Program gives graduates an opportunity to shape and change the future of NSW. With three six-month rotations across government agencies, the 18-month program offers an incredibly diverse experience that allows you to build your own career, no matter what degree you studied.

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GOVERNMENT SECTOR

Further study

Peta Compton

What’s your job about? I work in the Treasury’s Foreign Investment Division. I’m currently an assistant director in the Australian National Contact Point (AusNCP) and International Unit. There are two key parts to the AusNCP’s work: promoting the OECD’s Guidelines for Multinational Enterprises on responsible business conduct to our domestic and international stakeholders; and providing a mediation and conciliation service when we receive complaints against multinational enterprises. Having seen firsthand the negative impacts of unethical corporate behaviour on local communities overseas, I enjoy being able to contribute to the prevention, reduction and mitigation of such activities. This role builds on my previous experience in the Department of Foreign Affairs and Trade (DFAT), where I began my public service career. Some of my best experiences in DFAT were leading policy work on the UN and Commonwealth portfolios and coordinating Australia’s participation in the Commonwealth Heads of Government Meeting in London and the UN General Assembly’s Leaders’ Week in New York. Prior to that, I had a diplomatic posting to Brazil, worked on implementing Australia’s new live exports regime in five countries across the Middle East, and worked in India to promote Australia as a world-class study destination. Can you tell us about your posting in Brazil (2013–16), especially managing the Australian Embassy’s public diplomacy program? I ran cultural and education events all over the country and we had

great success attracting crowds. A major achievement for the team was managing the biggest Australian cultural program ever delivered in Latin America – we held more than 100 events across 11 states in 2016. I’d like to think some of my efforts led to more Brazilians coming to Australia for study or tourism. Why did you choose Crawford School of Public Policy? I plan to anchor my career to the public service, so Crawford was the obvious choice to consider new ways to anticipate and meet contemporary policy challenges. Decision-making responsibilities and accountability sharply increase as you progress through a career in the public service. I see the Executive Master of Public Policy (EMPP) as an important avenue to understanding contemporary best practice in public policy making, supporting my leadership and decision-making skills. Can you tell us about the EMPP? The course provides the opportunity to learn from worldclass public policy scholars. To ensure an executive-style learning environment, the Australian National University limits student places in the EMPP. This places a stronger emphasis on the student experience and provides much greater professional development. So far, it has been one of the best learning experiences I’ve undertaken. I feel challenged and engaged by the course content, love the exposure to high-profile guest speakers and am applying what I have learned to my current role.

Peta Compton is studying an Executive Master of Public Policy at Crawford School of Public Policy, Australian National University.

Course Executive Master of Public Policy

More info visit crawford.anu.edu.au/ study/graduate-degrees/ executive-master-publicpolicy

So far, it has been one of the best learning experiences I’ve undertaken.

IN-HOUSE AND CORPORATE

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In-House and corporate

Overview It’s one of the age-old career questions – should I work in-house or in professional services? Unlike professional service firms who work for a variety of clients, working in-house means you are responsible only to a specific organisation. You may work anywhere from a mining company to an insurer or a hotel chain. The organisation may be a global, ASX-listed corporate or a private Australia-focused organisation. Deciding whether to work in-house or in professional services is a relevant question for almost all specialisations. Whether accounting, marketing, operations or supply chain, there are typically advisory or consulting services for most specialisations. Working in-house has the benefit of getting to work at an organisation in a much deeper way. Unlike professional services, which provide recommendations to an organisation, being in-house allows you to be more hands on and bring strategies to life by actually implementing them. Being a part of this journey can be immensely satisfying. Entering the in-house and corporate sector Most larger corporates have official graduate programs. These include Qantas, Woolworths, Coles, Rio Tinto, Shell and Telstra. Graduate programs may take up to two years to complete and typically involve rotations throughout different departments, depending on your specialisation. Being selected for these graduate programs is competitive. Large organisations typically recruit candidates who can demonstrate competence in their specialisation through university grades or extracurricular activities and an openness to learning. While other organisations may not have an official graduate program, they may still have in-house positions available to graduates. This will depend on the organisation itself – they may rely on word of mouth rather than formally advertise, or perhaps only run graduate recruitment programs as required and not every year. Regardless, you may want to widen your graduate job search beyond the well known brands and reach out to smaller organisations to see if there is any availability in your specialisation. www.gradaustralia.com.au

The value of prior experience can’t be overstated. Employers look very favourably on graduates who have sought out internships or other forms of practical exposure to the business world. What’s involved? As there are many specialisations in the business world, from human resources to marketing to accounting and finance, the type of in-house work you do on a regular basis will vary greatly depending on your chosen specialisation. For example, you may work at a large supermarket retailer in operations and supply chain. This may mean travelling to visit key suppliers or distribution centres to observe, analyse and improve processes. Alternatively, you may be working in the accounting and finance department of a retail bank. You will likely be stationed at the head office with little need for travel. Your days may be filled with analysing and interpreting data, developing financial reports or managing budgets. Despite what your specialisation might be, you will find working in-house allows you to get up close and personal with the organisation you are working for. You will learn about its business goals, strategies, aspirations and liabilities. You will have the opportunity to really hone your understanding of how a business works and how your specialisation plays a role within it. If you work at an organisation that has multiple offices, you may also have the opportunity to transfer internationally or interstate. This can be a great way to extend your career by learning how to work in a new environment or culture. Best and worst An oft-cited benefit of working in-house is that you generally enjoy more regular working hours than those in professional services. This is because unlike professional services, who are expected to drop everything to service a client request as soon as it comes in, working in-house means your employer and fellow colleagues are the client! You typically get to set the deadlines and timing (depending on your seniority, of course). Moreover, the hours you work aren’t billable like those in professional services, and as such there

IN-HOUSE AND CORPORATE

The Kraft Heinz graduate program is aimed at those aspiring to be a “CEO, CFO, Zone President or beyond.” This grad program involves an intensive leadership program. One designed for “top talent who seek a performance-based culture built on meritocracy.

The value of prior experience can’t be overstated. Employers look very favourably on graduates who have sought out internships or other forms of practical exposure to the business world. is less urgency in being held to account as to how you spend your time. Of course, this doesn’t mean working in-house is a ‘cruisy’ gig. You may nonetheless find yourself working unusual hours, if say, you are dealing with international stakeholders and must accommodate various time zones or meet a strict deadline. Unlike professional service firms, which are usually engaged for a specific project before moving on to the next thing, working in-house means overseeing a project or area for a longer period of time. This can be a highly rewarding experience! The potential downside of working in-house is that it can be difficult to switch over to professional services. Those in professional services are trained in a specific way that is difficult for ‘outsiders’ to learn without first having to take a backwards step. Also, compared to professional services, you may find that in-house opportunities are not as lucrative as say, management consulting or investment banking. Career progression A typical career path for those working in-house is to climb the corporate ladder. Essentially, this means progressing upwards through your organisation to eventually become the head of a division or department, or even a member of the ‘C-suite’, such

as chief executive officer or chief financial officer. The path to the top can be a challenging one and can demand long hours and real commitment. You will typically find the journey competitive and at times, more about politics than merit. Having said that, this can be an exciting progression and seeing your upwards movement can be very satisfying. Depending on your specialisation, you will also find you can move to different organisations or even geographic locations reasonably easily, provided you have a record of good performance. To keep your competitive edge, it is important that you continually look for ways to keep learning and improving your skill set, particularly in areas of new technology. Employer examples: ■ Insurance companies ■ Telecommunications companies ■ Retail and supermarket chains ■ Manufacturing companies ■ Recruitment agencies ■ Technology and software companies ■ Investment companies. Choose this if you: ■ Love a specific industry or organisation ■ Would like to gain in-depth knowledge and expertise within a particular sector ■ Are looking for a solid career path. www.gradaustralia.com.au

IN-HOUSE AND CORPORATE

The Business Careers Handbook 2020

On the job

Jack Marshall

What does your employer do? Alcoa is a multinational corporation with its headquarters in the US. Its Australian operations represent some of the company’s best assets. These include two bauxite mines and three alumina refineries in Western Australia and an aluminum smelter in Victoria. Without realising, we all use products containing aluminum every day, such as Coke cans, aeroplane parts and beer kegs. It can also be limitlessly recycled, making it a very unique and sustainable metal. What are your areas of responsibility? As a finance graduate, I will have the opportunity over the three-year graduate program to work across multiple areas of the business. I’m currently in my second month and have taken on the role of the Portland cost analyst. This role works closely with the aluminum smelter in Portland. So far I have learnt to use various new software programs that I didn’t know existed two months ago and am slowly becoming an Excel expert. My role includes preparing various journals and reconciliations whilst still interacting with people around the business. Can you describe a typical work day? I start my day by checking emails to see if there’s anything of a high priority to attend to. Because I work closely with Portland who are two to three hours ahead of Perth and WA’s regional office, by the time I start my day I may already have tasks of a high priority to complete.

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In my current role, I have tasks that have to be completed by certain dates, such as posting a journal of an invoice from Telstra, organising a meeting to discuss projects that have exceeded their anticipated budget and reconciling various accounts. At the end of the day I write down any important tasks to be done tomorrow. I usually work from 8.30 am–5.00 pm. What do you love the most about your job? At the moment I learn something new every day at Alcoa, which continues to broaden my skill set moving forward. I enjoy working as part of a team and am fortunate to have very intelligent colleagues who I can learn a lot from. I also have multiple opportunities coming up, such as visiting a mine site and refinery to learn more about the business and to see what really powers Alcoa behind the scenes.

Jack Marshall studied a Bachelor of Commerce (Accounting, Tax) and is a finance graduate at ALCOA.

Study Bachelor of Commerce (Accounting, Tax), Curtin University, 2019

ROLE Finance graduate, ALCOA

What advice would you give to a current university student? Enjoy yourself. University days are some of the best of your life and you won’t realise how good they were until they run out. Looking back on my time at university, I wish I had gotten to know more people and tried new things while I had the time. So, make the most of every day and get involved in as many different things as you can. Find out more www.gradaustralia.com.au

Make the most of every day and get involved in as many different things as you can.

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IN-HOUSE AND CORPORATE

On the job

Kaushal Kulkarni

How did you land at Carlton & United Breweries (CUB)? At university, a friend of mine completed CUB’s internship program and had nothing but good things to say, so I was keen to apply for the graduate program. CUB’s graduate management trainee (GMT) program stood out the most, with its cross-functional rotations and global exposure. Fast forward a year and a half, I’ve now finished the GMT program and have started my new role as a team leader on one of the bottling lines at our Abbotsford brewery. I chose the GMT program specifically because of the breadth of projects I would have the opportunity to take part in. It had the right balance of a technical immersion at one of our leading breweries, and business projects in sales, marketing and finance based at our head office. In retrospect, this was the perfect way to get started at CUB. I developed my understanding in every function of the business, grew my network and had fantastic exposure to the CUB leadership team as well. I couldn’t have asked for more. By the end of the ten-month program, I could make a well informed decision about where I wanted to start my career. What are your responsibilities? As a team leader on our bottling line, I’m responsible for production, safety, quality and managing a team of operators and tradespeople on a shift basis. Every day brings its own unique challenges and it’s up to me to tackle problems as they come and

make the right decisions at the right time. Can you describe a typical day? On the bottling line, the end-toend process of filling bottles with beer or cider, pasteurisation, labelling and then the packaging of bottles into six-packs and cases, takes place. I’m responsible for adhering to our production schedule, all aspects of safety and quality, and managing a team of operators and tradespeople. Working on a shift basis means I rotate between three shifts every week. I typically start the shift by receiving an update from the previous shift’s team leader on how we’re tracking productionwise and if there are any safety or quality-related concerns I should be aware of. I then run a daily meeting with my team of operators and tradespeople. I start off by mentioning any safety callouts and give them an update of our production schedule and goals for the day. As the day continues, I keep a close eye on our production efficiencies and address any breakdowns of our packaging machinery. I also complete a full walk of the line, talking to everyone in the team about how their machinery is functioning, providing opportunity for them to raise any other callouts they may have. By the end of the shift I prepare a report summarising our production goals, safety or quality concerns, and any technical challenges we may have faced, ready to hand over to the next shift.

Kaushal Kulkarni studied a Bachelor of Engineering (Chemical)/Bachelor of Commerce (Finance) and is a packaging team leader at Carlton & United Breweries.

Study Bachelor of Engineering (Chemical)/Bachelor of Commerce (Finance), Monash University

ROLE Packaging team leader (Abbotsford), Carlton & United Breweries

I developed my understanding in every function of the business, grew my network and had fantastic exposure to the CUB leadership team as well. I couldn’t have asked for more.

IN-HOUSE AND CORPORATE

The Business Careers Handbook 2020

Day in the life

Anthea Tsaousis

5.30 AM The alarm goes off to the tune of Dean Martin’s rendition of Volare so I can pretend I am waking up in Italy. After quickly realising I am in my humble Melbourne surrounds, it’s a quick brush of the teeth and into my yoga gear to head to my 6.00 am yoga class. 5.50 AM As soon as I arrive at yoga, it’s a quick skull of a hot turmeric and ginger tea to formally wake me up from my slumber, then I zone in to the next 60 minutes of class. 7.10 AM Arrive home and sprint to the shower. I get ready whilst listening to ABC radio to stay in touch with the news. Once the armour is on for the day, I have a piccolo coffee before heading out the door and walking to the station. 7.54 AM The train ride commute begins. In all millennial glory, I skid between the socials and absorb the content of my friends and foodie influencers. 8.45 AM Arrive at work, set up the computer and eagerly head to our barista machine with my fellow coffee addicts, to make myself a second piccolo. It’s only after this coffee that I can embrace the day. 9.00 AM Double-check today’s calendar and catch up on emails. 9.30 AM The first of many meetings for the day begins – either a meeting www.gradaustralia.com.au

with a food supplier or with the team, covering all topics from new products, pricing, upcoming promotions and product placement. I sit within the retail convenience trading: the team that buys everything you see inside our retail stores. Our days are filled with meetings with suppliers or within our teams, to continually optimise our offer and grow sales. 12.00 PM Lunch with my fellow or ex-graduates. If I’m lucky, I’ll be devouring homemade leftovers from the night before. But if it’s ‘one of those days’, I’ll be vacantly munching on tuna on toast …with serious food envy. 1.00 PM Sitting in the food and coffee team, a product verification will likely take place in the afternoon. If I’m lucky, I will be tasting and critiquing something sweet and curing my post-lunch sugar craving. I promise this IS serious work (and extremely fun, just not for the waistline …). Sometimes these products fit in with our strategy and NPD pipeline, but other times, we are tasting purely to provide supplier feedback. If we like the product, this will kick off a whole journey of product iteration, cooking program verification, shelf-life testing and commercial decisions relating to price, store ranging, forecasting and promotional support. 3.00 PM It’s time for my third piccolo. Yes... I drink three coffees a day. Totally normal. Totally healthy.

Anthea Tsaousis studied a Diploma in Languages (French) and Bachelor of Commerce (Marketing, Finance). Anthea is a category lead 2GO & Restaurant at BP.

4.30 PM Head back to the desk to see what email traffic has erupted throughout the course of the day and respond to urgent emails. 6.00 PM The train ride home. If I’m lucky, I’ll get a seat and can read a story on my Kindle. It will either be a sappy romance or a suspense thriller. 7.30 PM I sit down to eat a delicious homecooked meal with my family. 8.30 PM Unashamedly watch trashy reality TV – along the lines of Married at First Sight, Love is Blind or Love Island. Truly the perfect detox for a busy day! 10.00 PM My bed is calling my name. Night!

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IN-HOUSE AND CORPORATE

Weâ&#x20AC;&#x2122;re looking for talented, driven and customer savvy graduates who not only want to understand the problems of tomorrow but be part of the solution!

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IN-HOUSE AND CORPORATE

The Business Careers Handbook 2020

Day in the life

Stephanie Briggs

6.00 AM My alarm jolts me from a deep, restful sleep. I quickly get dressed and head off to the gym. 7.00 AM My gym class has finished. I jump in the car and head straight to work. Being able to shower and change at work is a huge help as it means I can get into the office before traffic gets too bad. 8.00 AM I’m finally at my desk. I always start by checking how the prior day of trade went. I like to keep a pulse on how the business is trading, as it gives context to just about everything we do. I jump into my emails and then spend five or ten minutes on arguably the most important part of my day: prioritising. 8.30 AM Coffee time. Sometimes I go with my direct team, however today I

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use the time to catch up with my prior manager and teammate. Time spent over coffee is invaluable in getting up to speed on what is going on around the business, while also maintaining important relationships I have built. 9.00 AM I try and use my mornings for ‘quick wins’, as I find the morning is when I’m most productive. I try and focus on key tasks and tick them off my to-do list. I put together a slide for a deck going to the senior leadership team (tick), send off an email with recommendations on promotional planning for the beer category (tick) and make a phone call to the events team to confirm our finance graduate morning tea is organised (tick). 10.30 AM Mid-morning is usually a key time for meetings! Today we have our monthly knowledge-

Stephanie Briggs studied a Bachelor of Business (Professional Accountancy) and is a finance graduate at Coles.

sharing session. In these sessions someone from the liquor finance team will give a rundown of a topic that they consider themselves to be a subject matter expert in. This helps to upskill the remainder of the team. As I have recently rotated into the liquor finance team, these sessions are a great way to expand my knowledge. Last month we did a deep-dive into how to best assess supplier

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IN-HOUSE AND CORPORATE

performance and today we are tackling our finance systems. 12.00 PM As soon as it ticks over to lunchtime it’s straight to ‘The Hub’ – the centre of our thriving building where there are plenty of options on offer for lunch, as well as plenty of familiar faces to sit and chat with. If the weather permits, I grab a few graduates and venture for a walk along the creek. 1.00 PM I’m back at my desk. In the afternoon, I usually try to get stuck into bigger pieces of work that are more closely aligned to long-term strategic objectives of the business. I spend a few hours meeting with business stakeholders to discuss capital investment plans for the future. As the finance voice in the room I provide a healthy challenge to their forecasted planned spend. 3.30 PM Trivia time! Every Friday our team huddles together and focuses our brain power on something completely detached from our work. We take it in turns hosting, but as today isn’t my turn I settle in with a pen and paper and get my head in the game. It is a great way to get to know each other better in a casual environment before going back to work with a fresh set of eyes. 3.45 PM It’s time to put some energy into the other element of my job, which is business partnering. I sit with the liquor private label team and help them to work through the commercial impacts of the new and innovative products they are planning to launch. I assist with their forecasting of future supplier commitments and together we identify where the biggest market opportunities exist. 5.15 PM I head back to my desk and jot down my notes from the day,

adding unfinished tasks to tomorrow’s to-do list. 6:00 PM I finally get home and have time to walk my dog. When I’ve had a busy day, being able to walk and clear my head is exactly the wind down that I need to be ready to come home and engage with my family. 7.00 PM I have a little left in the tank, so I go through my Chartered Accounting coursework. I try and do a little bit each week as it helps to reduce the stress close to

exam time. There are a few other finance graduates taking the same subject, so if I have any questions we work through it together. 7.45 PM Finally, it’s relaxation and family time. 9.30 PM It’s getting late so I start to wind down. The general manager of our team has suggested I read The 7 Habits of Highly Effective People, so I open that and give myself some much needed time away from technology. www.gradaustralia.com.au

IN-HOUSE AND CORPORATE

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On the job

Harrison Power

How did you get to your current job position? In my final year of university I found out about L’Oréal’s marketing graduate program through a careers fair and GradAustralia. This program was exactly what I wanted to do after university as it combines hands-on experience with formalised training to develop the skills needed for marketing management. How did you choose your specialisation? I chose to embark on a career in marketing as it allows me to utilise the business acumen developed through a commerce degree as well as the creative and communication skills developed through studying fine arts. I had completed a marketing internship that I really enjoyed earlier, which reinforced that this was the career path for me. Beyond this, I’m passionate about using my career to have a positive impact on society, which L’Oréal definitely offers! What was your interview process like? The recruitment process involved an online application, online test, video interview, group assessment centre, individual assessment, an interview with HR and a final interview with a general manager. I was asked about my previous work experience, situational questions, life experiences, my personality, and my values and ambitions. What does your employer do? L’Oréal is the number one beauty company in the world and it creates and distributes beauty products that help customers feel their best. As a marketer, I am responsible for driving the growth of the brand I am working on. This involves analysing the market, using that information www.gradaustralia.com.au

to develop a strategic marketing plan, briefing in agencies to bring campaigns to life and working with multiple other functions such as finance, supply chain and sales to ensure our products are available. What was the last thing you worked on? No two days are the same at L’Oréal, which makes the job great fun! I’m currently working on executing the digital campaign for our newest fragrance launch and growing our ecommerce business. What are the career prospects with your job? Most marketing graduates roll off the program as an assistant brand manager. From there it is a very clear career path that leads to anything from marketing manager, general manager to country manager. However, as careers are changing, there are more opportunities to jump from marketing to digital, sales or commercial and still drive your career in the same direction. Also, moving overseas is always encouraged when working for an international company!

Harrison Power studied a Bachelor of Commerce/ Bachelor of Fine Arts and is a management trainee in Marketing at L’Oreal.

Study Bachelor of Commerce/ Bachelor of Fine Arts, University of New South Wales, 2019

ROLE Management trainee, Marketing, L’Oreal

Could someone with a different background do your job? Absolutely. Our management trainees come from varying disciplines. As long as you are a strong collaborator, passionate about making great work and willing to learn the industry while being innovative and entrepreneurial, you could embark on this career with a specific background. What do you love the most about your job? I love working with lots of passionate and intelligent people. Collaborating and seeing your work come to life is the most enjoyable part of this job.

Most marketing graduates roll off the program as an assistant brand manager.

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On the job

Steven Hong

What is your job title? Operations manager.

are committed to embodying the Mainfreight culture and philosophy.

What does your role involve? I am currently working within the Mainfreight air & ocean division. My area of responsibility is in the field of branch operations and my focus is to build and develop our import sea freight product. My daily work consists of directly managing the sea freight imports team. My role also consists of supporting the Sydney air & ocean branch manager to ensure the branch runs smoothly and without any issues.

What do you love about your job? One of the amazing things about the freight forwarding industry is the complexity of the supply chain! I love working with new customers and seeing their goods move from one point to another so seamlessly. One of the coolest things about my role is that I get to work with so many different team members locally, nationally and even across the globe.

What’s your background? Born in South Korea, my family relocated to the Gold Coast, QLD where I completed my schooling. I moved to Sydney straight after high school to start my degree in political science at the University of Sydney. During my penultimate year I came across Mainfreight during a project I was working on as a research intern at the Hong Kong Economic and Trade Office. Shortly after the internship concluded I actively applied for the Mainfreight Graduate Program. I have recently hit my three-year mark with the business and have been in my current role for the last five months. Prior to becoming the operations manager, I held the team leader role for our data & compliance division and customer service department. Could someone with a different background do your job? Yes, definitely. Mainfreight is a company that looks towards the next 100 years. We are willing to invest the time to train and develop new team members who

Which three pieces of advice would you give to a current university student? ■ Back yourself. ■ Never say ‘no’ to an opportunity just because you feel unprepared. ■ Hearing ‘no’ or getting knocked back isn’t always a bad thing. These things are so important. At times I have felt I am not prepared enough for an opportunity or that someone else would be more suited. However, I always put my hand up anyway. It’s not always about being the best or the most prepared; if you want something enough you will do whatever it takes to succeed.

Steven Hong studied a Bachelor of Political, Economic and Social Sciences and is an operations manager at Mainfreight.

Study Bachelor of Political, Economic and Social Sciences, University of Sydney, 2016

ROLE Operations manager, Mainfreight

We are willing to invest the time to train and develop new team members who are committed to embodying the Mainfreight culture and philosophy.

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Day in the life

Tori Clutton

6.00 AM As my alarm goes off and I begin getting ready for the day ahead, I start to think of all the tasks I plan to get done. I did a good job ‘switching off’ last night, assuring myself that I’d action anything urgent first thing and instead enjoy some quality time with my housemates (with a side of red wine and trashy TV!). 7.30 AM I must admit: I’m a morning person. My output is of a higher quality in the first half of the day, so I arrive at the office at 7.30 am, coffee in hand and ready to tackle the day. First things first, I sort through my emails, prioritising tasks and being

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sure to check my calendar for daily meetings or deadlines. This is a habit I’ve worked hard to create since moving across from sales to marketing, as it helps me feel in control of my time and ensures I am always where I need to be in terms of hitting project milestones and so on. Speaking of, my phone rings for what will be the first of many calls for the day. It’s a peer from my old team. I preempt he is calling to see how my new role is going, but alas, he wants an update on his in-store point of sale order. We are a close team, which I love about the Cabot’s business, so I am more than happy to jump on the phone and get the information he needs.

Tori Clutton studied a Bachelor of Arts (Media & Communications) and is an assistant brand manager at Cabot’s, DuluxGroup.

8.30 AM As the rest of my team arrive at the office, we jump into some back and forth conversation about fun project names for a new product I am working on. We narrow it down to three so I pop into our channel

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business manager’s office to let her choose the winner. 8.45 AM It’s time to knuckle down and make some headway on the organisation of our biggest customer event: the Bunnings Expo. I’ve got several suppliers who have pitched to build our stand and their concepts are incredibly creative. I analyse the concepts in relation to our brands, the brief and the nature of the event, then collate some notes and organise a team meeting to discuss and bring key stakeholders on the journey. It’s important I keep referring to my timeline to ensure I am on track with lead times. 10.30 AM The clock hits 10.30 am and it’s time for a project team meeting with our research and development team and my colleagues from the Timber Studio. We are trialling some new products, so I change into an older t-shirt and some safety boots, and pop over to our lab. 12.30 PM Before I know it, lunch time hits and my team gathers around our common table to do today’s quiz. I spend my entire lunch time laughing at the banter and trying

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to have some input into the quiz. It’s no surprise I’m the ‘go-to’ for any reality TV related questions! I’m not sure that’s a good thing... 1.20 PM Meeting number two for the day involves training for some internal systems that are vital to my role. Being the perfect time for a second coffee, I duck downstairs to the cafe before the meeting starts. 2.00 PM I have an hour before meeting number three. It’s the perfect time to log on and complete an audit of our woodcare marketing collateral, ordering any low stock items so the sales team are fully equipped to sell to, and merchandise their stores.

graduate program’s desk to say ‘hello’ and see what she’s working on. Sometimes these chats can inspire an idea or action for my team – today it was just nice to touch base! 3.50 PM I’m feeling eager, so I take the stairs back up to level three. As I reach my level, I’m out of breath but just catch our trade, industrial and global business manager walking out the door. We have a quick chat and I update her on some work I am doing for our trade business before heading back to my desk. I book a meeting time with her for next week so we can elaborate on our ‘elevator chat’ without time pressure.

We have hundreds of items, so I only get through about a quarter before it’s time to head down to level one and meet with our procurement team.

4.00 PM Finally I am back at my desk and able to action some email items and return a couple of phone calls to our sales team, before finishing up for the day and heading to the gym.

3.00 PM My meeting goes well. Our fantastic procurement team update me on packaging for my new product and I’m very content with the progress we are making. While I’m on level one, I pop over to my friend from the

4.30 PM As I drive out of the office I reflect on my day and the number of people I collaborated with, in addition to the variety of projects I am currently working on. It sounds clichéd, but no two days are the same in this role!

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Day in the life

Justin Baldori

5.30 AM I love getting up and starting the day off right, so I chug my espresso and make my way to the gym. 7.30 AM I’ve got my routine down, partly because of my non-iron shirts (whoever invented these needs a medal). Within 30 minutes I’m en route to the train station. I make the most of the 30-minute commute and listen to podcasts, mostly The Joe Rogan Experience or one of my investing poddies. 8.30 AM Touchdown. I unload my lunch, grab my laptop out of my locker and find a seat. At Jetstar we hot desk, which makes it fun and exciting to sit next to new colleagues and get a different view of the office each day. I check any emails that have

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landed in my inbox overnight. At Jetstar, no two days are the same and no matter how well you plan the day before, it can change in two seconds. That’s the reality of working for an airline; the fast-paced nature keeps you on your toes. 9.00 AM One great thing about the office in Collingwood is the abundance of coffee. My mate Tom and I walk to a spot just around the corner. 9.15 AM We have our daily team stand-up. This is my fourth rotation and I am working in the airport customer experience team (ACE), where I look at different initiatives that can make the customer’s journey easier at the airport. I give a quick update on my project as I am

Justin Baldori studied a Bachelor of Commerce (Finance, Business Analytics) and is a finance graduate at Jetstar.

heading to Singapore in two weeks to launch a trial at Changi Airport in conjunction with Jetstar Asia and Changi Airport Group. Pretty cool stuff and I’ll fill you in later in the day. 9.30 AM Part of this project requires me to conduct a risk assessment

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session and facilitate the change through our change management system. I need to do a little bit more work before I catch up with the department heads to review and approve the trial. This is time consuming as I am still learning the ropes, so I have to go back and forth with the safety team to ensure I have done this correctly. For me, this is the least sexy part of a project, but it is the most vital. The best thing about conducting a change like this is the engagement with stakeholders across the business. There is no hierarchy, so everyone is very approachable and loves to help. This is why I love being a graduate, because you aren’t a graduate. Instead you are a part of a team; a team that is not only your immediate team but the wider Jetstar business. With no barriers it makes updating my change a breeze and I’ve met some new people along the way (#networking). 12.00 PM I round up a few graduates and we catch up in the new kitchen. Our cohort is very close and we always try to grab lunch together.

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12.30 PM After lunch, it’s time for my next meeting. This time I’m on a Skype call with a colleague in Jetstar Asia to discuss the project launch in a couple of weeks. We are implementing new bag tags at Changi Airport that customers can try out; they are self-adhesive so in theory should be faster, easier and less wasteful than the current bag tag. This is what we will be testing for. It may not sound like much, but the fact that customers may be able to tag their bag in a few seconds is very promising for the customer journey. 1.30 PM A stock standard part of running a project is writing the minutes. This is a headphone task, so on goes the podcast. 3.00 PM My brain needs a break. Here at the office we have a table tennis table, which we use to free our mind up a little bit. 3.30 PM I’m feeling refreshed and this is good because I have some analysis coming up. Another stellar thing about the graduate program is the diverse work you do. I joined the program as a finance graduate

so working in a project role in the operations team is the polar opposite. However, the graduate program allows you to try things you would never thought were possible. Over my last three rotations I have worked in both commercial and operational departments, including finance, operations control, marketing analytics and now airport customer experience. If you said to me two years ago I would be working in operations for an airline, I’d tell you that you were mad! But I love it. The variety of work is amazing and I thrive off stepping outside my comfort zone and trying new things. Anyway, it’s data time. My task is to understand various online check-in streams and the performance over the last six months. With the data analysis skills I have developed as well as the professional relationships I have built, I am able to source data and build a model that my manager will use to present to the wider team. Pretty cool stuff. 5.30 PM I make a quick to-do list for tomorrow and head off. Headphones in, podcasts loud and clear.

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Day in the life

Leeyarna Kanniappan

5.30 AM After snoozing the alarm a few too many times, it’s time to jump out of bed, throw on some gym attire and drag myself to the gym for a quick workout. There’s no better way to wake up the body and mind ahead of a big day at work! 7.45 AM After a good gym session, a quick breakfast and a shower, I begin the journey to Southbank. This typically involves a 30-minute commute via train, where I pop in some headphones and listen to a great podcast or playlist to set my mood for the day. I also take a quick moment to review my calendar, to make sure I am aware of all my appointments and I don’t miss anything (also taking note of every available coffee break!). 8.30 AM Following a quick walk from Flinders Street Station, I arrive at

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the office. After stopping at almost every floor on the way, the elevator doors open to level 27. I drop my lunch in the fridge and set up at my desk. As a daily ritual, another graduate and I meet for a quick chat and coffee run each morning. It’s impossible to start the day’s activities without a good cup of coffee! 9.00 AM My day begins. Following up with suppliers, and processing shed orders and invoices are this morning’s jobs – essential tasks to ensure that everything runs smoothly throughout our key activation periods! This encompasses designing, producing and delivering all point of sale material across the country, such as posters, towers, brochures and wobblers. I am currently in the process of collating information for our winter trade presenters, so I use

Leeyarna Kanniappan studied a Bachelor of Commerce (Economics)/Bachelor of Science (Physiology) and is a field sales graduate at Kraft Heinz.

this time to gather the final pieces to ensure our reps have all the important information to provide to their store managers ahead of our winter campaign. 10.00 AM Today, we hold our all hands sales meeting: a monthly meeting with

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the entire Kraft Heinz Australia sales department. Here, our head of sales presents the past month’s national sales numbers and sets the objectives and goals for the month ahead. We also receive important information from our account managers regarding upcoming activations, new product launches and strategic direction for the upcoming month across a range of key categories. This month, there is a strong focus on our soup and gravy portfolio. This is a great opportunity to make sure we all aligned and working toward making this winter as successful as possible across our Heinz and Gravox products. 12.00 PM As the clock ticks over to midday, it’s time for lunch! I use this time to catch up with my fellow graduates and enjoy some time out of the office. We typically find a nice spot outside or enjoy a short walk (usually in search of the newest Butterbing cookie flavours), before heading back upstairs. 1.00 PM Arriving back at the office, I head straight into our weekly national cascade call with our five state leads. Here we discuss the previous week’s retail sales performance and brainstorm action plans to close any gaps. This is also the time where we discuss key events for the week, notify the team of any important information and answer pressing questions or concerns from those who represent our brand in-store. This information is then filtered down to state level to ensure that each member of the team is briefed and on the same page about the week’s activities. 2.00 PM As it is the start of the month, I join a meeting with the national account executives to discuss this month’s priorities and any support required in terms of point of sale. This is critical information as it is often the crux of the brief

I provide suppliers, to ensure we are generating as much value in store as possible! 3.00 PM I head out with a field sales representative and make sure our promotions and sales activations in store are in place. This is a great break from the back-toback meetings from earlier today. It’s always insightful to be out in the retail space so we can understand what customers are looking for and find ways to add value. 5.00 PM Once all the work set out for the day is complete, I typically wrap up by writing a to-do list for the day ahead. This ensures I can switch off for the night knowing what tomorrow is going to look

like. I then enjoy some fresh air on the walk back to Flinders Street Station, to begin the journey home. 6.00 PM Arriving home, I enjoy a nice evening walk to wind down from a busy, information-heavy day, before preparing a quick dinner and settling down on the couch to enjoy a few episodes of a bingeworthy TV show (at the moment, it’s Fleabag!). Tomorrow, I will be out in the field with a sales representative who will take me through their territory, visiting key stores that are participating in our current campaigns. This is a fantastic way to see how our products ultimately make it into stores! It’s time to get a good rest before a busy day on my feet building displays and activations. www.gradaustralia.com.au

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Day in the life

Heidi Van Der Griend

Heidi Van der Griend studied a Bachelor of Business and is a sales consultant at Meltwater.

7.30 AM I usually start my mornings with some breakfast before I get dressed. I quickly check my meetings for the day in order to determine what I should wear. Smart casual is my go-to.

what everyone’s doing in the day and where everyone is with their deliverables, which will give you an indication of how busy it’s going to be. I also check if there’s a manager available to join my meeting this afternoon.

8.00 AM Time to head into the office. I catch the train, then go for a lovely stroll to the building. Meltwater is a flexible workspace, and my team generally arrives in the next half hour. But first: coffee!

9.00 AM I’m the most productive during the morning so I usually try to get as much as possible done before noon, starting with calling potential clients. Before I make the calls I make sure I am prepared for them. I do so by finding the specific value proposition for that company and whether we work with similar companies.

on the other line, if they will pick up or if they are interested in what we do. Luckily, he picks up and I have a moment to go through my pitch. We decide to book a meeting for the following week.

9.30 AM It’s time to make the first call of the day. This is always a bit nerveracking; you never know who will be

10.45 AM After calling companies for a couple of hours it is time for a meeting with a potential client.

8.30 AM I get things ready for the day ahead, checking my meetings and looking at the agenda in order to organise my time. 8.45 AM It’s time for our team’s board update. We do this every day to see

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I generally go to their office and bring one of the managers along, which is the case today. I get in the Uber and brief my manager on the way there, making sure he’s up to date. 11.00 AM As I walk into the office my nerves are starting to show and I do not know what to expect. The marketing manager walks in and as soon as we start, I feel like I get into the flow of it. We do a needs analysis and look at how the media fits into their scope of the business. They specified that they really wanted to get in touch with journalists, so I go through a demo showing our journalist outreach tool and how they can use it. The meeting goes really well, and after finding out what they expect from us we agree to have a follow-up in a couple of days. 12.00 PM Back at the office, I do a bit of admin, where I go into our system and write down the notes from the meeting. I sit down briefly with the manager to discuss the outcome of the meeting. I schedule the

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catch-up call for next week to see if it’s a go-ahead. 1.00 PM Time for lunch! I usually go down the road to the food court and get myself a salad. I like to eat lunch in the fresh air; it’s so healthy for the mind! 2.00 PM I spend my afternoon prospecting potential clients. I try to find at least five new companies a day. I also try to reach people I couldn’t get a hold of this morning. I call between 30-60 people a day, so sometimes you have to try multiple times. A few more pick up and we book meetings for next week. 3.30 PM It’s go time. I have a phone meeting booked with a client who is ready to sign a deal if everything goes well, so I prepare the contract and call them up. As soon as a deal goes through at the office we have a big bell that we ring, so after the call ends I turn up the music, walk up to the bell and ring it. Walking through a tunnel of high fives on the way back, I feel ecstatic that the deal went through!

4.00 PM I catch up a bit with my friends at the office. After the celebrations, I sit down to send out some proposals from previous meetings. I produce customized slides to send to the people who attended and make sure all of the key points are included in the proposal. 4.30 PM I listen in to one of my colleagues’ phone meetings in order to pick up on some new tricks and pick out what techniques I can bring with me to my own meetings. This is really helpful especially when you start out here, and I always pick up on something I didn’t know or haven’t thought about during these calls. 5.00 PM Every Friday, we do a round-up with the team. We go around the table and tell everyone our highlight of the week as well as what we are looking forward to next week. This week’s highlight is definitely signing the deal this afternoon! 5.30 PM Time for the weekend!

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On the job

Stacey Kent

What’s your job title? Consultant (Financial Advisory – Corporate Tax) at PwC Perth. How did you choose your specialisation? I enjoyed the taxation unit most at university and was keen to explore what career I could take up with those skills (and if I’d even like it as a career choice). I applied for corporate tax through PwC’s vacation program, which was the perfect opportunity to familiarise myself with real-world work through a short internship while studying at university. After completing the internship, I was offered a graduate role and started working full time at the firm the following year. What was your interview process like? The first stage was an online application, where I submitted basic information about myself, similar to a resume or CV (I didn’t have to upload my CV though, only relevant information). Next was the online assessment, following which was an online video interview where I responded to three general pre-recorded questions about the firm and the role I applied for. After making it past this round I was invited to the tax assessment centre, where I took part in a group assessment activity, office tour and networking. Lastly, I had an interview with people from the corporate tax team, where I was asked a range of questions relating to why I was interested in working with PwC and what attracted me to corporate tax. What are your areas of responsibility? Corporate tax helps clients effectively manage challenging www.gradaustralia.com.au

and constantly evolving local and international tax legislations. Utilising our skills in finance, law or broader commerce, we offer clients from a variety of industries services across compliance, consulting and general tax. My role as a consultant is to work with my team and collaborate to support and provide high quality tax advice to our clients. The teams usually have four to five team members. My role generally involves helping clients with tax issues, writing letters and rulings to the ATO, tax compliance work such as income tax returns, and providing tax advice on deals such as mergers and acquisitions. What do you love about your job? My job gives me the opportunity to work on a diverse portfolio of businesses such as health, government, infrastructure and tourism companies, which keeps the job interesting. I get to learn new things every day, so my job is never boring. It’s a very hands-on role, where I get to work directly with clients, grow my skills and see the impact of what I do. What advice would you give to a student? Apply for vacation or intern programs; these are great ways to discover whether you like the company, team and job specialisation. There is no limit to how many vacation programs you can apply for or do. PwC also has other student career pathways, so have a look on our careers website to find the right fit.

Stacey Kent studied a Bachelor of Commerce (Accounting) and is a consultant in Financial Advisory – Corporate Tax at PwC.

Study Bachelor of Commerce (Accounting), The University of Western Australia, 2018

ROLE Consultant, Financial Advisory – Corporate Tax, PwC

It’s a very hands-on role, where I get to work directly with clients, grow my skills and see the impact of what I do.

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On the job

Tiaan Mackenzie

Can you tell us about your background? I was born in Cape Town, South Africa but emigrated to Sydney at an early age. This wasnâ&#x20AC;&#x2122;t an easy immigration, coming from a relatively poor country to wealthy Australia. I saw how hard my mother had to work to gain a foothold and eventually thrive here; it made me appreciate the necessity of a strong work ethic. I was 11 when I decided I wanted to be in property. This long-term goal gave me a point of focus to achieve what I needed to get into the Bachelor of Property Economics. I deferred the start of my degree to travel solo for 301 days. My trip took me back to Cape Town to work in a bespoke furniture factory, all the way up to Iceland, to the UK and across the Mediterranean and Eastern/Western Europe. The cultures and individuals I interacted with showed me how to work with and relate to people from vastly different backgrounds. These interpersonal skills have been key in bringing me to where I am today. How did you get to your current position? I applied for the Stockland Graduate Program in 2018. I was already working with Stockland as the recipient of the Ervin Graf Scholarship. This undergraduate role gave me industry experience and insight into which graduate stream I wanted to apply for and what to expect. What does your employer do? Stockland is Australiaâ&#x20AC;&#x2122;s largest diversified Australian real estate investment trust (AREIT). It owns,

operates and develops residential, retirement living, retail, workplace and logistics assets across the country. As a development graduate, I work with the communities business or the residential and retirement living portfolios. Until recently I worked on a major project in the Northwest Growth Corridor. On this project I was responsible for a wide range of project items, including managing consultants; delivery of parks, pricing and competitor analysis; estate maintenance; roll out of innovative technology; and reporting to the business. What do you love about your job? What I love is that it is dynamic and every day is what you make of it. You can go from detailed financial forecasting to talking with residents and customers in the same afternoon. I really love driving through a project that you helped develop and seeing people live their lives in a place that didnâ&#x20AC;&#x2122;t exist before. Do you bear a lot of responsibility? Do you have to work on weekends? I do have a lot of responsibility, but it is manageable. It does mean I have to work on weekends from time to time, but the benefits far outweigh the negatives. Stockland cares for its people; we have great benefits like flexible working that help manage stress. Could someone with a different background do your job? Yes. It would be a steep learning curve, but I know marketing managers who became development managers.

Tiaan Mackenzie studied a Bachelor of Property Economics and is a development graduate at Stockland.

Study Bachelor of Property Economics, University of Technology Sydney, 2018

ROLE Development graduate, Stockland

You can go from detailed financial forecasting to talking with residents and customers in the same afternoon.

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On the job

Jenayah Elliott

What’s your job title? Human resources analyst. What did you study? I studied a Bachelor of Commerce and I majored in human resources at Curtin University. How did you get to your current job position? I participated in the Woodside summer vacation program in the first and second year of my degree. I was encouraged to apply after receiving a Woodside scholarship through Curtin University. What was your interview process like? I was invited to an informal catch-up with two recruiters from Woodside. From there, I went through the formal interview process for the Woodside summer vacation program which included an interview with two senior managers from the people and global capability team. This interview consisted of technical questions in relation to my studies and behavioural questions which were linked to personal experiences. Can you describe a typical workday? On any given day I carry out transfers within and between sites, assist employees with setting up flexible work arrangements, prepare employment contracts and any other employment letters and documentation, and work within SAP to update and input employee data. Where could you or others in your position go from here? HR is quite broad and opens you up to many opportunities within your chosen field or other careers. The majority of organisations www.gradaustralia.com.au

have a human resources function, regardless of where you are in the world. Could someone with a different background do your job? Absolutely. The beauty of HR is the focus on inclusion and diversity; anyone can do the job if they have enough passion and drive. What do you love the most about your job? Which kind of task do you enjoy the most? I love the relationships I build. Every day involves interacting with a different team within the business at Woodside. In regard to tasks, I thoroughly enjoy project work where I can manage a project from start to end. What’s the biggest limitation of your job? HR has many facets that are very different. For example, working as a recruiter is extremely different to liaising with unions in the industrial relations team. Therefore, over the three-year graduate program, if you are put into a role that isn’t well suited to you, it could mean you may not be motivated in the role and gain as much as you would from being in a better-suited team. Which three pieces of advice would you give to a current university student? ■ The sky’s the limit – explore every opportunity that comes your way. ■ Apply yourself – the more you apply yourself to your studies, the more opportunities will come out of it. ■ Enjoy your time as a student – universities have so many co-curricular clubs and activities that you can get involved with that will enrich your experience.

Jenayah Elliott studied a Bachelor of Commerce and is a human resources analyst at Woodside Energy.

Study Bachelor of Commerce, Curtin University, 2020

ROLE Human resources analyst, Woodside Energy

I love the relationships I build. Every day involves interacting with a different team within the business at Woodside.

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On the job What did you study and what is your job title? I am a final year student at the University of New South Wales studying a Bachelor of Commerce (Finance and Accounting). At the moment, I am an intern in the finance & analysis team at Mirvac. I have always been interested in the property market â&#x20AC;&#x201C; especially in Sydney â&#x20AC;&#x201C; and felt Mirvac was a great place to gain some exposure. What does your employer do? Mirvac is a leading, diversified Australian property group, with an integrated development and asset management capability. My areas of responsibility are in the office & industrial sector. Every workday tends to be different; I could be working on property model inputs one day and analysing financial statements the next. This is a great

way to progress my career towards an investment analyst position, as the internship builds on a lot of corporate finance theory learnt in university. What do you love about your job? What I love is the amount of exposure the interns get to industry leaders and how involved the CEO is in the internship program. The daily tasks are incredibly rewarding as they allow me to bring life to knowledge learnt in classes and see the reality behind it.

Chyren Amarsee

Chyren Amarsee studied a Bachelor of Commerce (Finance, Accounting) and is an intern in the finance & analysis team at Mirvac.

At Coles, you will have an extensive support network to assist you in creating a challenging and successful career and be given constant feedback to hone your skills.

PROFESSIONAL SERVICES

The Business Careers Handbook 2020

Professional services

Overview Professional services is a broad term used to describe any organisation whose core business is to serve and support other businesses. These services can range from accounting and audit to advertising, investment banking, strategy consulting and tax advisory. Organisations that provide these services can be anything from large multinationals to one-person businesses offering specialist advice.

Banks and financial services: commercial banks such as the ‘Big Four’ and other smaller or regional banks (Bank of Queensland) offer banking services to businesses and larger corporations or institutions such as the government. Investment banks offer services including helping organisations to list on the stock exchange, merge or acquire other organisations. Financial service organisations may also include management funds and hedge funds.

What is common across all professional services organisations is the need for talent. These organisations are typically on the lookout for smart graduates who are analytical, able to think critically and explore solutions to complex problems.

Entering the professional services sector Most high-profile professional services organisations run competitive graduate recruitment programs. The application process for these programs is rigorous and highly competitive. For example, at McKinsey & Company – perhaps the world’s best known consultancy firm – applicants who make it past the initial CV evaluations are expected to complete up to six fifty-minute interviews, during some of which they will be required to solve hypothetical business problems on the spot. They are also given a multiple-choice problem-solving test. If candidates are unsuccessful, they must wait for up to eighteen months before applying again.

For the purposes of this overview, we have grouped professional services into three key categories: accounting and advisory services; consultancies; and banks and financial services. Below is a brief description of each: Accounting and advisory services: these organisations provide accounting and auditing services, as well as advice on areas such as tax, risk, insolvency and restructuring. Organisations may offer the full suite of these services, such as the ‘Big Four’ accounting firms, or specialise in one or two of these areas. For example, there are many smaller accounting firms or freelancers that focus primarily on assisting individuals and businesses with their accounting needs. Consultancies: the term ‘consulting’ is often bandied about and as a result, it can be quite confusing as to what it really means (or what a person actually does when they say they consult!). In this context, we refer to consultancies as management consultancies that offer strategy advice or specialise in operations, process and technology. Some of the best known consultancies include global operators such as McKinsey & Company, Boston Consulting Group (BCG) or Bain & Co, as well as boutique firms like Port Jackson Partners – all of which specialise in strategy consulting. Alternatively, organisations such as Partners in Performance and Accenture, as well as some accounting firms, focus on operations, process and technology. www.gradaustralia.com.au

Many professional services organisations require graduates to apply within a certain period after finishing their undergraduate degree. Otherwise, it’s not unusual for them to expect candidates to have evidence of impressive professional experience or a second degree. What’s involved? Professional services employees serve two bosses: first, there is the company that employs them (for example, BCG or Accenture); and then there is the client, an external organisation that comes to the professional services organisation because it has some sort of problem needing to be solved. The type of work you will be expected to do will depend on your area of specialisation. For example, if you’re working in strategy consulting, you’ll be required to address a range of challenges, from navigating a complex merger to providing strategic advice on how best to launch a new product. It’s not unusual for employees dealing with such challenges to go on secondment, or in other words, be based at the headquarters of their client, rather than their

PROFESSIONAL SERVICES

Bloomberg University provides staff with user-friendly, quality training in everything from financial market analysis, to leadership skills, to coding.

The more prestigious providers aim to attract and retain standout graduates by offering lucrative salaries, bonuses and appealing conditions including support for further postgraduate study such as an overseas MBA. primary employer. At the very least, travel is usually a requirement. A typical consultant’s week for example, may see Mondays to Thursdays on site and Fridays back in the office. As you will often need to work with a range of stakeholders to complete projects, it’s important you are able to create productive professional relationships with confidence and skill. Best and worst Working at a professional services organisation definitely has its perks. The more prestigious providers aim to attract and retain standout graduates by offering lucrative salaries, bonuses and appealing conditions including support for further postgraduate study such as an overseas MBA. Working in professional services can be exciting – no project is ever the same, you work with a variety of clients, and have the opportunity to travel interstate or even overseas to work directly with companies. If variety is your spice of life, professional services definitely has you covered. A career in professional services however does have some drawbacks. The travel can be relentless, especially when working for large national or multinational firms. As you’re in the business of serving organisations, you’re expected to be available even if that means working long hours and sometimes into the weekend to meet deadlines or client expectations. Furthermore, the culture can be intense. Several professional services firms take an ‘up or out’

approach to employee development – that is, one is either promoted or asked to leave. Career progression The most prominent professional services organisations are global entities that employ thousands of employees across the globe. They are also hierarchical, which means your career trajectory within a given firm is usually quite clear. For example, at Deloitte, graduates usually spend their first year as an associate, become a ‘senior’ in their third year, a manager in their fifth or sixth year, a senior manager in their ninth year, and finally, a director or partner in their twelfth year. Professional services offer an unparalleled opportunity to network, which is great if you decide to pursue a range of subsequent careers: for example, moving in-house with a client or changing careers entirely. Furthermore, working at a prestigious organisation can help give you a stamp of approval for future endeavours. It is widely assumed that if you have worked at a top-tier investment bank or management consultancy, then you have the smarts and work ethic required for other roles. Choose this if you: ■ Have a strong academic transcript and CV ■ Enjoy building and managing professional relationships ■ Love variety and dynamic environments where no two projects are alike ■ Have a strong work ethic and are not afraid of pulling long hours as required. www.gradaustralia.com.au

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The Business Careers Handbook 2020

On the job

Ramali De Zoysa

What did you study? I studied a Bachelor of Commerce (Finance, Economics). With business and economics being my favourite subjects, studying commerce was a no-brainer for me! The beauty of studying such a generalist degree is it pushes you to stay open-minded and try a broad range of things. I completed two very different internships: one within an advisory firm in audit and the other in an investment bank in business solutions – an area that merges the worlds of business management, information systems and computer science. These experiences showed me where my passions and strengths lay. Where do you work? Why did you choose this specialisation? I work in the public markets division at AMP Capital, which I joined in February 2019 through the AMP Capital Graduate Program. I chose the public markets graduate program as it is uniquely structured to provide graduates with hands-on experience across a diverse range of asset classes, facilitating exposure to a myriad of investment styles and valuation methodologies. As someone who was fascinated by the idea of working in the complex world of financial markets, the public markets graduate program stood out. This stream is unique in the way it enables graduates to find the investment area they are passionate about, by providing unfiltered access to different teams with the aim of understanding their investment process – whether this be centered on market research, bottom-up fundamental stock analysis or topdown asset allocation decisions. Do graduates require a commerce degree to enter this program? The public markets program takes graduates from a broad range of

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backgrounds, from engineering to science to law. While it helps to have experience in finance, the majority of learning will be done on the job. What are your areas of responsibility? As a public markets graduate you rotate across different investment teams that range from global fixed income, global listed real assets, equities and multi-asset teams. Currently I am working in the Australian equities income team. The income team is focused on providing clients with investment products that offer steady distributions as well as capital growth. Key areas of responsibility include portfolio construction and undertaking bottom-up analysis to actively pick stocks that contribute to the fund’s objectives. What do you love about your job? I love that it constantly provides me with incredible opportunities to grow, both personally and professionally. From having the privilege of meeting senior management of ASX listed companies, engaging with industry experts on market thematics and learning from the firm’s brightest analysts, I’ve been able to move quickly through the steep learning curve that comes with building a career in financial markets. The working environment is another key aspect I love. Financial markets can move rapidly and unpredictably. While this can be challenging, such a dynamic backdrop means the role is never monotonous and there are always opportunities to learn something new.

Ramali De Zoysa studied a Bachelor of Commerce (Finance, Economics) and is a public markets graduate at AMP.

Study Bachelor of Commerce (Finance, Economics), University of Sydney, 2018

ROLE Public markets graduate, AMP

Financial markets can move rapidly and unpredictably. While this can be challenging, such a dynamic backdrop means the role is never monotonous and there are always opportunities to learn something new.

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The Business Careers Handbook 2020

On the job

Cathy Burbridge

What’s your job title? At Bloomberg, we’re not big on titles. It’s more about the work we do and the impact we have. That said, I am in the financial products analytics and sales team. Where did you grow up? Have you ever travelled abroad? I went to high school and university in Melbourne. I completed two study abroad programs at Peking University in China and Warwick University in the UK. During my time at university, I also completed three internships in Paris, Singapore and Beijing.

What are your areas of responsibility? I am in the analytics team, which provides support to Bloomberg Terminal users. We work with our clients to answer their questions and help them leverage our technology to improve their workflow. Within analytics, I am currently in the equity team but will be moving into the trading solutions team next week.

What is the interview process like? We have a five-step interview process including an online assessment, a pre-recorded video interview and three rounds of interviews with team leaders and managers. The interview questions center around your motivation for working at Bloomberg and your interest in a finance, customer service and sales role.

Can you describe a typical work day? Our day is split between time on queue and time proactively working with our clients. Time on queue is when we are on the desk answering client questions, either over our famous instant messaging system IB, on the phone or in person at offices across town. Clients ask us questions that can range from how to find particular data-sets to how to analyse their portfolio of fixed income derivatives. We communicate with many players in the industry across various asset classes who are all trying to solve different problems. We also train our clients on new functionality and features of the Bloomberg Terminal to help enhance their workflow. It is important that we are always thinking of new solutions that are fully customised to the needs of the specific client.

What does your employer do? Bloomberg is the global leader in business and financial data, news and insight. Using the power of technology, we connect the world’s decision-makers to accurate information on the financial markets – and help them make faster, smarter decisions.

What do you love the most about your job? The opportunity to travel and build new connections in different offices. In the past six months, I have been to Hong Kong, Tokyo and New York. I don’t think a lot of graduates can say they have been given this opportunity!

How did you get to your current job position? I have been working at Bloomberg since July 2019. I attended the Bloomberg Academy program and then applied for the graduate position when the applications opened.

Cathy Burbridge studied a Bachelor of Business (Banking and Finance) and is in the financial products analytics and sales team at Bloomberg.

Study Bachelor of Business (Banking and Finance), Monash University, 2018

ROLE Financial products analytics and sales team, Bloomberg

At Bloomberg, we’re not big on titles. It’s more about the work we do and the impact we have.

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On the job

Michael Zervos

What’s your job title? Graduate – Tax Policy Centre. What has been an important milestone in your life? An important moment would be graduating; in particular, putting myself out of my comfort zone and completing an honours degree and writing a thesis. English was never my forte in high school, so a lot of my teachers would be thrilled and/or surprised to read about me writing a thesis! How did you get to your current job position? Prior to working at EY, I spent six months working at a small accounting firm doing tax compliance. The longer I worked there, the more I knew tax accounting (and doing tax returns in particular) was not for me. One day I decided to start looking around and found the tax policy centre to be the ideal fit for my interests, skills to date and most importantly, developmental prospects. My prospects of learning on the job are immense here and something I truly value. During my interview I asked as many questions as I could about tax policy, and this cemented that this was the right specialisation for me. What are your areas of responsibility? Being a new hire, my main area of responsibility is to absorb as much information as I can and slowly start understanding tax technical areas. Currently, I’m doing a lot of research tasks and summarising of key tax legislation (ATO rulings, cases). I help create (and distribute) internal www.gradaustralia.com.au

communications, breaking down key tax developments for the day, week or month, and I update and maintain our internal tax knowledge database.

Michael Zervos studied a Bachelor of Laws (Hons)/ Bachelor of Accounting and is a graduate in the Tax Policy Centre at EY.

What are the career prospects with your job? The career prospects are endless. My job gives me a breadth of various tax knowledge. A job in tax policy could get me into a similar job in government or even the The Organisation for Economic Co-operation and Development. I could retrain in the future and work in a vast array of tax law or tax accounting jobs. I’ve got the potential to work overseas at some point, perhaps at the EY Tax Policy Centre in London, Washington or New York, so the possibilities are expansive.

Study

What do you love the most about your job? The day-to-day variety of tasks, the opportunity to apply myself to a wide breadth of tax knowledge areas and the prospect of working alongside some of the industry’s most knowledgeable people. I have also thoroughly enjoyed the opportunity to work with some of my international colleagues on a regular basis, including my New Zealand colleagues weekly and Canadian colleagues pretty frequently. Do you have to work on weekends? Are the stress levels high? I haven’t had to work on weekends yet. My role is largely based around the hours of Parliament and the courts, so not too much of my work comes after these bodies close for the day.

Bachelor of Laws (Hons)/ Bachelor of Accounting, La Trobe University, 2018

ROLE Graduate, Tax Policy Centre, EY

I’ve got the potential to work overseas at some point, perhaps at the EY Tax Policy Centre in London, Washington or New York, so the possibilities are expansive.

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The Business Careers Handbook 2020

On the job

Jenny Liu

What’s your name and job title? Jenny Liu, business analyst. Where did you grow up? Can you tell us about your education and any experience abroad? I was born in Harbin, China and have lived in Auckland, New Zealand for the majority of my life. I studied at the University of Auckland and while I didn’t do an exchange, I spent three summers travelling around America, Europe and Asia! I’ve had internships in institutional banking, recruitment and consulting. Were you weighing up any alternatives before choosing this specialisation? Yes, absolutely. Because I had such a broad background, deciding what to do wasn’t easy. I ended up choosing consulting for the challenge and variety as well as the incredible growth opportunities that come with it. Junior consultants are usually given a high level of accountability and responsibility, which is different to most industries. What does your employer do? Management consultancy with offices across the globe, working in all industries. What are your areas of responsibility? This will vary from project to project, but as a business analyst I usually support the rest of the team in developing a solution for our client. This often involves owning certain parts of a workstream or analysis, and communicating findings and insights to my team and the client. Can you describe a typical work day? This sounds clichéd, but no two days are the same. It generally depends on the type and stage of the project.

The project I am currently working on is at the kick-off phase, so there is a lot of prep work and problem solving. The last thing I was working on was developing the issue tree and hypotheses for our workstream, which provides the foundation for us to conduct future analysis. What are the career prospects with your job? The career prospects that come with consulting are fantastic. Colleagues who move on from Kearney always end up doing something incredible. Some have gone on to pursue start-up ideas, whereas others have ended up in strategy roles for some of the largest corporations in Australia. Could someone with a different background do your job? Absolutely. At Kearney there is a huge emphasis on diversity of thought and one of the ways we achieve this is by having consultants from a range of backgrounds. As long as you are up for a challenge and eager to learn quickly, it doesn’t matter what you studied.

Jenny Liu studied a Bachelor of Laws/Bachelor of Commerce (Finance, Economics) and is a business analyst at Kearney.

Study Bachelor of Laws/ Bachelor of Commerce (Finance, Economics), University of Auckland, 2019

ROLE Business analyst, Kearney

What do you love most about your job? The people are definitely what makes my job. Everyone at the firm is incredibly smart but down to earth. If you get stuck there is always someone willing to lend a hand. Do you bear a lot of responsibility? As someone who is relatively junior, the amount of responsibility I get given is quite high compared to most industries. I don’t see this as a limitation but rather a great learning opportunity.

At Kearney there is a huge emphasis on diversity of thought and one of the ways we achieve this is by having consultants from a range of backgrounds.

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The Business Careers Handbook 2020

Day in the life

Ella Hurley

8.30AM I’m in the office and going through emails. I was monitoring them late last night but a few came in overnight from the UK. We’re working on a deal and trying to figure out how to structure the transaction from a tax perspective. This involves employing an external advisor (think global accounting firm) whilst utilising our internal tax team. I’m liaising with an internal member of our tax team in London. Sometimes it can be hard to coordinate time zones but luckily she’s been super quick with her responses. 9.00AM I need to keep working on the budget memo for this transaction. This means getting all the costs for the external advisors we employ and collating them into a document with an overview of the transaction. We’ve employed five different

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advisors and there is generally one person internally managing each relationship, so I’ve reached out to each of them for costs based on quotes they were given from the advisors. These people are also in different regions – New York, Tokyo, Dublin – so the time zone battle is real. 10.00AM I think I’ve done a pretty good job on the budget memo so I’ll send it to one of the colleagues for review. This is going to be looked at by a group of senior managers, so I need to make sure it’s right. 10.30AM Okay I’ve got a lot to work on. There’s a few mark-ups on this. 11.00AM Time for our Asia Pacific (APAC) weekly team meeting. One of my bigger projects has been market

Ella Hurley studied a Bachelor of Commerce (Financial Planning) and is an analyst at BlackRock.

research across APAC and I’ve been working on a deck we’ll present to the rest of our global team in a couple of weeks. This is a good chance to get feedback and ideas on my work. Another possible deal came in last week that everyone is excited about. It’s big but there’s no guarantee we’ll be shortlisted to put an offer in. In the meantime we’re engaging

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The Business Careers Handbook 2020

advisors to work on the buy-side with us. The sooner we approach them, the better, as they could also be approached on the sell-side of the project (working for the seller), which would put them in a conflicted position and unable to work for us on the transaction. After we put in a non-binding offer we’ll see if we’re shortlisted. Half of our team are travelling next week to raise capital for our next global fund, so we’re discussing that too. One of my colleagues brings up an information event held later this week by one of the market consultants. Most of the team are busy so they offer for me to go. I’ll be down for that! My boss informs me I need to start working on the Investment Committee paper for the deal. This is the final document that goes to our Investment Committee (think very, very senior people) and is the main paper for whenever someone wants to reference back to the project. 12.00PM We’ve got a corporate netball team so I’m rushing downstairs to get ready. 1.00PM I’m eating lunch at my desk because I spent a decent amount of time

away playing netball. I’ll scroll through news and articles. 1.30PM We’ve got a call with the advisors managing the refinance on one of our projects. I’m taking notes while my team members do the heavy lifting. They know a lot more about it than me so best to listen for now. 2.30PM I need to keep working on a deck for the managing director in my team. He’s presenting to a large institution and the materials need to be sent across to our sales team today. I’m trying to run a coordinated effort with another colleague based in London. This has been a little trickier to manage. I’ve set up a call with him later on tonight. 4.00PM We’ve got another call. it’s with the financial institutions working on our deal. They want an overview of the transaction as they’re going to start their due diligence. I go through the basics and they come back with questions. 4.30PM I’ve been sitting for a while so I need to go for a walk. I chat to one of my buddies.

4.50PM I need to start working on the Investment Committee paper for the deal. I pull up one of the previous ones as a template and start working on this. I’ll have to use our financial model to fill in some of the financial metrics such as levered IRR, cash yield, contract pricing etc. 6.30PM I’m feeling extra ambitious today so I’m going to a gym class. 7.30PM I’m heading home and will grab dinner on the way – I have a call later so need to prepare for that. 8.45PM I’m taking a call from home with my colleague from London. I need his help with some investment flow statistics. It only takes 20 minutes. Finally, the deck is finished. 10.30PM I have a quick scan through my emails. The UK are well under way with their day. They’ve started sending emails through but luckily it’s not urgent. Given that I had a late call tonight my boss said I should come in later tomorrow. Responses can wait until then.

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The Business Careers Handbook 2020

Day in the life

Tom Flannery

6.15 AM I resist the urge to snooze my alarm and gradually roll out of bed. I grab my bag and head out to the gym. 7.45 AM I arrive at work feeling fresh and awake. Our Sydney office has great washroom facilities in our basement, including fresh towels, which conveniently allows me to get ready at work. 8.15 AM I’m at my desk and scrolling through my emails while eating the breakfast that I keep in our kitchen. I generally start the day having a read through the AFR morning updates, which allows me to catch up on news and current events. I respond to any overnight emails that need attention and take note of the meetings I have for the day.

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8.30 AM I’m ready to plan out my day. Our line of work can be unpredictable and fast paced, therefore it’s important that I set out urgent tasks that must be completed by the end of the day.

Tom Flannery studied a Bachelor of Commerce (Accounting, Finance) and is a senior accountant at McGrathNicol.

8.45 AM I have a 9.00 am conference call with a client based in New Zealand for one of my current working capital advisory projects. I’m sitting in on the call with a partner and manager, so I’m keen to make sure I am fully prepared. I take the time to read through our previous correspondence and note a couple of potential improvements to their debtor collection processes that I can raise with the client.

pieces of information we have previously requested as part of our review of the client. I take notes on the call and raise a number of queries I had previously identified.

9.00 AM The call begins and we discuss some of the outstanding

The call ends and the partner takes us through some of the key action points from the call.

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10.15 AM I grab a few of my fellow graduates and we head out for a coffee. We are lucky our office is in Martin Place and are spoilt for choice with great cafes. 10.30 AM I’m part of a retail industry focus team, which compiles retail statistics once a month and presents an opinion piece on the current state of the industry. I prepare for the release of the statistics from the Australian Bureau of Statistics and put together the relevant graphs along with my opinions. I then take it to the director on the project team for review. They make some minor changes, but overall they’re pleased with the quality of my findings. 12.00 PM We have one of our monthly training sessions scheduled for lunch. Today’s training is a little different than some of the more technicalbased training we’ve had in the past – it is a young gun partner panel. We have the opportunity to listen to the past experiences of some of our newer partners and the different paths they have taken. The firm kindly provides a catered lunch for these sessions and the catering is always second to none!

1.00 PM I return a number of missed calls for a listed engineering company that I have been working with. Given the size of the project, I have to be able to communicate with a number of stakeholders including shareholders, employees and creditors. 1.45 PM I have a meeting for the same listed engineering company with our core project team based in Sydney. As the most junior member of the team, ahead of the meeting I worked through some of the key issues, allowing me to lead some of the discussion. It’s always a great experience being able to lead a discussion with more senior members and learn from their wealth of experience. 2.00 PM My manager and I call the lawyers who have been advising us on this matter to discuss their interpretation of a key issue. It’s an interesting phone call with two differing viewpoints on the best way forward, so we prepare notes for a later discussion with the partner appointed to the job. 2.45 PM I’ve been tasked with preparing a fee pack to distribute to our

secured creditors to approve our proposed remuneration. I have to implement some of my Excel skills to ensure the WIP reconciles and is able to flow through the spreadsheet to the summary table. Luckily, there aren’t too many discrepancies and I am able to reconcile my summary accurately. 5.45 PM I skim through my task list to ensure I’ve completed everything urgent for the day. As I’m about to pack up, I remember to complete my timesheet for the day. Once this is done, I walk to the bus to head home for the day. 6.15 PM It’s the local pub’s meal deal night, so my housemates and I head up the road for some dinner and a drink to talk through our day. 7.30 PM Time to head home and switch on a movie. Half an hour later we finally agree on what to watch! 10.30 PM The movie finishes and it’s time for bed. I throw my gym gear in my bag, ready for tomorrow’s lunchtime run with the work crew.

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The Business Careers Handbook 2020

Day in the life

Emily Kwan

6.30 AM Rise and shine! (However it’s almost always still dark in Melbourne at this time!) 6.55 AM I hop in the car with my brother and we drive to the station together. We then catch the train to Southern Cross Station. During my train rides I like to do a few things: nap, finish my pile of books that are still to be read and spend some time reading the Bible or in prayer. 8.00 AM Arrive at Collins Square, grab a cup of coffee at the food court downstairs and make my way up to the office. During that time, I check my emails, tick off unfinished tasks that still need to be done

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and then start the day with a cleared inbox. 8.30 AM The graduates meet up with our corporate manager to have our fortnightly check in. Here we discuss our workload, our sales pipeline and the health of our rotations. It’s really good that we get checked up on often, as it opens a platform for us to communicate with our managers closely. 9.30 AM I get back to my desk and begin assisting the account executives with their broking work. During this time, I have an opportunity to be exposed to working on sections of the renewal cycle such as drafting renewal reports, placing slips,

Emily Kwan studied a Bachelor of Commerce/Bachelor of Science and is a graduate sales analyst at Marsh.

policy wordings and contacting insurers. It’s the time and space to build the basic skills needed to be a broker. 10.00 AM Coffee with the insurers. As brokers, it is nice to have good relationships with insurers as

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we place all of our policies with them. Here we get to find out more about insurer appetites to certain products and hear about the state of the current market.

programs, all while getting to know the client better. Visiting clients’ offices is also something I thoroughly enjoy. It’s definitely a great experience!

12.30 PM It’s time to go to the food court downstairs at Collins Square to grab a bite and chill!

2.30 PM Straight after the client meeting I like to type out the minutes, to remind both myself and the team of the contents of the meeting. We then send these off to the client for their information.

1.30 PM Client meeting. Client meetings are always the highlight of my day. I learn how brokers manage client-broker relationships, how to professionally communicate with clients about the state of the market, and how to present

3.00 PM Go for a tea break. 3.10 PM I continue working on renewal cycles!

4.00 PM Every Monday at this time, we have a Zoom meeting with the other graduates around the state. Here we talk about our week and our workload. We also receive updates from our manager about the company and any news we need to be aware of. It’s nice to be able to gather as a graduate cohort once a week to touch base with people beyond Melbourne! 4.30 PM–5:00 PM The Zoom call ends and I’m just about to call it a day.

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On the job What was your interview process like? The hiring process at Findex is lengthy and includes phone interviews, face to face interviews, personality testing and aptitude testing. They were all standard questions, but heavily focused on my university experience, as I didn’t have any real world accounting experience. Overall it felt more like a chat about my life than an interview for a job. What was the last thing you worked on? My current role for wealth management is to assist in the rollout of a new wealth management program at Findex. This involves a lot of client contact, preparing documents to be signed and asset transfers.

What do you love the most about your job? I love that I am constantly learning new things. There is always something different to do and learn. What’s the biggest limitation of your job? The role is very self-driven. Managing your time well in order to complete multiple jobs by various deadlines is tricky and a skill that is developed over time.

Natalie Shaw

Natalie Shaw is currently studying a Bachelor of Business (Human Resource Management) and a Bachelor of Commerce (Accounting) at Federation University Australia.

Which three pieces of advice would you give to a current university student? ■ Do what you love. ■ Work hard every step of the way. Ps might get degrees, but HDs get the best jobs. ■ Feel the fear and do it anyway.

On the job What is your typical morning routine? I reach the Rialto building and take the lift to the 28th floor. While at my desk I check my emails and calendar to prepare for the day. I take note of any graduate training I may have on. The last graduate training was a tax planning session for the new financial year. This was delivered by a team manager who shared his expertise on how to carry out a tax planning process for a client from beginning to end. Important issues to look out for in different business structures were also highlighted. What tasks have you completed recently? A tax return for a family running a trust business structure. I had to generate the financial report and complete a trust tax return

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and individual returns for four family members. I used the various application systems in order to input details and generate a summary income tax return. I also made a phone call to the Australian Taxation Office in relation to a potential overpayment made by a client for a sum of goods and services tax. After providing the officer with the relevant information, she clarified that a refund of the overpayment could be provided. I drafted an email to the client assuring them a refund was on its way.

Melissa Joseph

Melissa Joseph studied a Bachelor of Laws/Bachelor of Accounting and is a graduate accountant at Fordham Business Advisers.

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On the job

Samuel Hoare

What does your employer do? Protiviti is a global risk consulting firm. While we deliver a variety of different services internationally and domestically, our primary focuses in Brisbane are internal audit, risk and compliance, and technology consulting. Most of the projects I’ve been on have been audit and advisory reviews. This is where we are hired by a third party to analyse a specific area of the business and the key risks involved. We then determine whether those risks are appropriately addressed and give advice on potential improvements. Can you describe a typical work day? To fall victim to a total cliché, my work day is rarely typical. Generally though, I’m at a client site. Every client does something different and every project is looking at a different business area, so I’m basically trying to learn as much as I can all day. Some days we’re in back-to-back interviews; others, I’m reviewing documentation and testing controls. What are the career prospects with your job? I think the goal is to find your area of interest. You may decide to stay a jack-of-all-trades and remain in consulting until you’re the managing director. Alternatively, you may find a niche area or industry you want to specialise in. Eventually, you may decide to become employed by one of your prior clients. Alternatively, you could take the soft skills and industry knowledge you’ve learned and jump into a totally different field.

Could someone with a different background do your job? Absolutely. While my background is business related, we’d also love anyone who studied IT, data analytics, cybersecurity and the like. What would your career be if you weren’t doing what you’re doing now? I think I’d enjoy working for a start-up or in some mountain lodge on the other side of the world, taking people on hikes and writing short stories. What do you love about your job? I love getting exposed to a different business every few weeks and trying to understand the problems they face. I love building a picture of how things work. My favourite part of a review is near the end where you have a bunch of different problems and need to figure out how to group them logically and condense this into a digestible report. What’s the biggest challenge? The most difficult part of my job is probably the responsibility. While guidance is always there, we are given a lot of independence throughout projects. Because our managers are often on multiple projects, it can mean we have to find solutions to problems ourselves first and ask if we’re correct later. This provides a great opportunity for ingenuity and it’s a forgiving learning space, but it can be stressful as you’re not always sure you’re embarking on the right path. I’d recommend this role to people who like to be challenged and who perform well when given independence.

Samuel Hoare studied a Bachelor of Commerce/ Bachelor of Economics and is a consultant at Protiviti.

Study Bachelor of Commerce/ Bachelor of Economics, The University of Queensland, 2019

ROLE Consultant, Protiviti

I’d recommend this role to people who like to be challenged and who perform well when given independence.

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Day in the life

Emily Walker

6.30 AM Alarm noise pierces through my eardrums, forcing me to get up and get my life together. Stretching out of bed and finding my joggers, I go for a quick morning walk. 7.30 AM Shower time and pack my lunch before I make myself breakfast. Watch the quick headlines on the news before I get myself ready and leave the house by 8.15 am. 8.30 AM Arrive at work, either at the Elders branch or the Bendigo Bank Business Centre, depending on who I am working with for the day. A brief ‘good morning’ to everyone in the office and then to my office to start up the computer. First things first, I check any new emails

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so I know what is ahead of me throughout the day and add to my ‘to-do’ list. Some of the emails provide information about current interest rates, online meetings or annual reviews that need to be checked. 9.00 AM Teatime, but everyone else generally drinks coffee. After a quick morning catch up, it’s back to the desk. As I’m still learning all the processes of the bank, I have been working alongside an agribusiness manager. This morning I filled in a client’s financials for the last three years and updated their assets and liabilities in order to help complete elements of the review submission. Once completed I then reported back to the agribusiness manager. This allows us to both go back

Emily Walker studied a Bachelor of Agricultural Business Management and is an Ag Achiever graduate at Rural Bank.

through the data and make sure I have collated it all correctly into the agribusiness banking system. 11.30 AM Lunch time. I’m having a quick, early lunch today, as myself and an agribusiness manager are visiting

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clients this afternoon. Normally I would go home for lunch, but I’ll be staying in the office today. Going home for lunch helps refresh myself for the afternoon’s work and gets me out of the office for a bit of fresh air. 12.00 PM Now to jump in the car with one of the agribusiness managers. This afternoon we are heading to the north of Wagga Wagga to a small farming community that is about an hour drive. Car trips with different people can be quite daunting sometimes, however I’ve found that asking different questions, both business and personal, can help make the car trip fly by. 1.00 PM We arrive at the first client’s property. After greeting we are shown around the main infrastructure of the property in order to take photos for the property’s valuation. I always find it so interesting going out and visiting clients on their properties – seeing how everyone operates differently, but with the same passion for the agricultural industry. Whilst at the client’s property, we discuss how they are going with their financials and the whole operation of the business, but importantly, the recent impacts of drought and how the future will progress. 2.00 PM I hop back into the car to drive to another client’s property, about 15 minutes away, which also requires a valuation to be completed on its infrastructure. This property is a sheep stud that has been operating for 48 years. The owners are extremely passionate about the quality of the livestock they produce and wish to continue into the future. Whilst visiting this client we are given a tour in order to take photos of the infrastructure and then sit down for some afternoon tea to discuss how the business

is going, how the recent drought has affected them and if the bank needs to provide any further assistance. I really enjoy getting to know different clients and their situations and involvement within agriculture. This is probably one of my favourite parts of the job so far, as farmers can be so welcoming. 4.00 PM After a cup of tea and a piece of fruit cake we jump in the car and head back to Wagga Wagga, discussing with the manager what I think of the client’s operations and business focus. 5.00 PM Arrive back at Elders, stopping by the office to drop off documents and pick up my bag to finish for the day and head to the gym. 5.15 PM Go to a gym circuit class, which helps me get active after big days

of sitting – especially spending each day in the office. 6.30 PM After I finish at the gym, I go home, have a shower, do some washing if needed and catch up with my housemate on her day at work. 7.30 PM I have gotten into the habit of cooking my dinners for the week on a Sunday night, so they are already prepared and just need to be heated up. It saves me coming home and figuring out what to cook. I have dinner, relax and watch television with my housemate. 9.00 PM Hop into bed and either read a book or, just like the rest of our generation, scroll through my phone. I aim to be asleep by 9.30–10.00 pm to get a solid night of sleep for the next day. www.gradaustralia.com.au

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On the job

Hugh Tobin

What is your name and job title? Hugh Tobin, research analyst. Can you talk us through a typical workday? I get in before the market opens and review overnight news in the international markets. This gives me an idea of how our trading day will look and what we need to be aware of. I review company news and announcements for the stocks in my coverage, and then have a quick meeting with the traders on the desk to discuss anything I think they need to be aware of. These conversations are a great opportunity to share opinions and ideas, and to put together a plan of action for the day. Once the market opens, I keep an eye on any news that may impact our stocks and communicate anything material to the traders. This is an exciting part of the job, as you have to think on your feet and work out in real time what any piece of news means for trading. If you catch the news fast enough and can quickly work out the impact, it can make for a profitable trading opportunity. I also spend time during the day reading through different sources of information like broker reports, company releases and financial media like the AFR and WSJ, to get a feel for what is on the horizon and what people in the market are talking about. Looking ahead is important for our options traders, who need to incorporate events into their pricing models. After the market closes, we have a quick chat about how things went

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and discuss any lessons that analysts and traders can take away from the day. What is unique about your job? What is the culture like? I really enjoy the direct input I have with trading. Unlike other firms, our trading and research departments are highly integrated. I sit amongst the traders on the floor and we communicate throughout the day. I get to watch in real time as the opinions I provide lead to trading decisions. It’s a very satisfying part of my work. From our morning meetings to conversations with our tech teams on implementing new software, there is a fantastic culture of collaboration at SIG. It’s easy to pull together people from different teams or departments to discuss an idea or issue.

Hugh Tobin studied a Bachelor of Science (Finance) and is a research analyst at SIG.

Study Bachelor of Science (Finance), University College Cork

ROLE Research analyst, SIG

What are the perks of your job? The fully stocked kitchen and catered lunch make life a lot easier day to day. Our office is brand new and loaded with features including a gym, showers, games room and library, and is surrounded by restaurants and bars in a lively end of town. Suppose a student was considering your career. What advice would you give to them? If working in a collaborative, fastpaced environment appeals to you, then you’re in the right place. You can have a very rewarding career at SIG.

From our morning meetings to conversations with our tech teams on implementing new software, there is a fantastic culture of collaboration at SIG.

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On the job

Georgia Hondros

How did you choose your specialisation? During my university studies, I took a keen interest in wealth management and insurance-specific subjects. Additionally, I also enjoyed studying people and behaviour in psychology. Fusing these interests together, I wanted to work for a company that helped people and where I could use and develop my technical skills. Hence I landed on life insurance and then TAL. I did consider other areas within the financial services industry, but for me, being in life insurance at Australiaâ&#x20AC;&#x2122;s leading life insurer was the best option. What are your areas of responsibility? The great thing about the TAL Graduate Program is that it is so diverse and there is a magnitude of exciting projects to work on. My first rotation was in our investments team. Here I had the opportunity to work on projects, be involved in regulatory discussions and quarterly reporting to our platforms, create a commercial dashboard for financial reporting on investment products, assist in transitioning products from Asteron Life (Suncorp) to TAL in the acquisition, and meet with fund managers. And that was just the first rotation! My second rotation was within our retail product area in the new products and proposition team. This rotation was filled with exponential learning. I was responsible for various deliverables to assist in launching a new diabetes product called Specialised Protection. For example, drafting adviser guides, stakeholder management, form and correspondence review, training

on the product for advisers, and customer engagement research. This rotation was challenging but also rewarding in terms of building new skills and technical knowledge, and also developing confidence in my contributions to the team. My current rotation is with the retail distribution team and Affinia, which is the licensee subsidiary of TAL. Through both these teams, within the first month I am already assisting with projects related to the changing financial advice industry, as well as assisting on team projects involving both internal and external stakeholder consultations. TAL provides an environment that also creates opportunities outside of my team. Within the wider organisation I like getting involved with volunteering, mentoring and being a part of company-wide initiatives. Could someone with a different background do your job? Yes. The role of the business graduate encapsulates various parts of the TAL business and is the broadest graduate role TAL has to offer. It is a growth role that welcomes people with various backgrounds. There are other streams of the graduate program too, including finance, distribution, IT and actuarial, which require backgrounds relevant to each of these streams. In all graduate programs there is a six-month elective rotation that gives graduates the chance to explore an area outside of the business unit specified by their program. This is quite unique to TAL as you get to experience a role that deviates from your specialisation. This is great when you are trying to figure out which roles and areas interest you.

Georgia Hondros studied a Bachelor of Commerce (Finance)/Bachelor of Science (Psychology) and is a business graduate at TAL.

Study Bachelor of Commerce (Finance)/Bachelor of Science (Psychology), University of New South Wales, 2019

ROLE Business graduate, TAL

The great thing about the TAL Graduate Program is that it is so diverse and there is a magnitude of exciting projects to work on.

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Day in the life

Graeme Morris

7.00 AM My body clock woke me up just before the alarm rang loudly on my charging dock across the room. I raced to turn it off and started my morning with a run around the block followed by 15 minutes of meditation. After a quick shower, I got in the car and drove to work. 9.00 AM I arrived at work, put the code into the underground car park and managed to find a car space next to the elevator. I travelled up the elevator to the office, put my lunch in the fridge and went to my desk. 9.30 AM I started the day off right with a coffee with the senior financial adviser to caffeinate our bodies and discuss the plan for the day ahead. We had a few client meetings, some emails and meeting notes to get through during the day. 10.00 AM I got back to my desk and opened up the emails I had to respond to before my client meetings. As I replied to the emails, I finished my large cappuccino and scoffed down some banana bread and fruit. I made quite the mess of crumbs and felt that my desk ate more banana bread than I did! 11.00 AM The client meeting began with strong handshakes and a quick catch up on how everyone was doing over the past few months, before getting down to business. We were looking at the client’s annual review of the financial advice we provided them. I wrote meeting notes and asked a few www.gradaustralia.com.au

questions for clarification. After the meeting, the senior financial adviser and I sat down to discuss the best strategy to adopt and began creating a plan for the statement of advice that will be given to the client. 12.00 PM Lunchtime! Yum. I brought chicken schnitzel, mash potatoes and vegetables. I couldn’t wait to eat this, except... I forgot I had a lunch meeting with an investment portfolio manager and the senior financial adviser at a Japanese restaurant down the road! After we ordered our sushi plates we got down to business discussing different investment options the firm can use to benefit their clients. 1.30 PM Arrived back in the office where I grabbed a glass of water and checked my emails. I began preparing for my next meeting with a new client and went through the questionnaire they completed. 2.00 PM The meeting began with pleasant introductions and getting to know the client. I asked the client about their answers to the questionnaire to further understand their current financial situation and what goals they wanted to achieve. I asked further questions to understand how we can help the client. We talked about how we both love dogs and taking our pets to the beach for a walk. 3.30 PM After the meeting I wrote up the client meeting notes and spoke with the senior financial adviser. We discussed the future strategy

Graeme Morris studied a Bachelor of Commerce (Financial Planning) and is an associate adviser at Hard Line Wealth.

to adopt and sent a request off to the paraplanner to create the statement of advice strategy for the client. 4.30 PM I knocked off early because I got everything done that I needed to. Got stuck in peak hour traffic, which was annoying! After I finally reached home, I went for a walk with my dog Lexi and then came back and fed her before cooking some dinner, which was spaghetti bolognese. I flicked on some Netflix and relaxed. 7.30 PM I thought I had better shower before I fell asleep on the couch, so I put on a load of washing and headed back upstairs to play video games with some friends. It’s a great time to catch up with friends and recharge before work the next day. 9.00 PM I hung out the washing and brought Lexi inside. I got into bed and scrolled Facebook and Instagram for an hour before going to sleep to start again the next day.

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Chapter 3

How to get hired The ultimate career readiness checklist �� 108 Researching and choosing the right organisation �� 110 Writing a CV and cover letter �� 112 Sample cover letter �� 114 How to ace an interview �� 116 What to expect at an assessment centre �� 117 Getting an offer �� 118 Managing social media �� 119

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The ultimate career readiness checklist Academic Many graduate employers still look for strong academic performance as a minimum hurdle when screening candidates. It’s important then that you pay attention to your grades – and make sure they’re competitive enough for the field you’re interested in!

Work experience A great way to demonstrate to prospective employers that you’re fit for a role is to have a track record of strong performances in similar roles. Work experience can give you a head start in acquiring the skills needed to excel in the workplace.

Community, volunteering & extracurricular activities Most employers look at community, volunteering and extracurricular activities as an indicator of a ‘well rounded’ candidate. Getting involved in these activities can be great for building leadership and teamwork skills – and help your application stand out from the crowd.

Networks As they say, sometimes ‘it’s not what you know, but who you know’. Not only does proactive networking help hone your interpersonal skills for the workplace, it may also help you get your foot in the door with employers.

Career research & preparation Choosing a career path can be daunting; make your decision easier by amassing the experience and knowledge required for an informed decision. If you’re clear on where your passions lie and have done your career research, it will be a lot easier to pinpoint the right employer for you.

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First Year Take stock and ask yourself the hard questions D It’s important to check in throughout your degree and assess if you’re still on the right track. Ask yourself: Is this course what I thought it was going to be? Am I enjoying what I’m learning? Does this degree lead to my career goals? D If you’re answering yes to the above, then start thinking about what you would like to major in and your electives. Talk to others about your subjects/career goals whether it’s peers in the year above, lecturers or career advisers.

Get a part-time job D Whether it’s behind a bar or in a shop, a part-time job is a great way to gain some skills and see what you enjoy doing – plus a little extra pocket money never goes astray. Research vacation work and internships D Think about the type of employer you might be interested to work for. Keep a log of those who offer vacation work or internships. Get involved! D Now is the time to get involved – whether it’s a club or society on campus, volunteering or a sporting group – find things that pique your interest.

Research mentoring programs D Find out whether your faculty, college or university has any mentoring programs on offer. Connecting with a mentor early in your degree can be a great way to learn about career options and make contacts in your industry. Leverage your existing network D Ask people you know about their jobs and career choices – it will help you think about what you might like to do.

Stay on top of careers advice and internship opportunities D Subscribe to gradaustralia.com.au for the latest internship news. D Drop by your university careers office to learn about the services they offer and attend careers workshops. Draft a CV and cover letter D Complete a first draft of a CV and cover letter. It may be a few years before it is used for graduate job applications, but completing an initial draft now will help you identify gaps and areas for improvement during your remaining time at university.

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Mid Degree Just keep studying! D Don’t drop the ball on your grades! If you’re struggling to balance study, then make a (realistic) study plan. Consider joining a study group if you need some extra motivation and accountability. Prepare for your thesis D If you’re planning on a final year thesis, begin thinking about topics you would like to explore and submit your proposal. Start networking with professors who you would like as a supervisor for your thesis. Apply for vacation work/internships D Some internships have very early closing dates, so make sure you are aware of closing dates and deadlines. Make an honest assessment of your work experience to date D Work experience is about helping you get clearer on your career path. Ask yourself: Did I enjoy the work? Did I see any roles I was drawn to? Can I see myself working at this employer (or others like it)? How does this align with my career goals? Cultivate your leadership skills D Find ways to take on responsibility and leadership opportunities in your extracurricular activities such as organising a fundraising event for a club, captaining your sports team or becoming volunteer team leader.

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Final Year Go hard! D This is the year to have a particular focus on academic results as grade point averages are usually heavily weighted towards final-year results. D Employers who are using academic results to screen candidates will place particular emphasis on final-year results, so make sure you prioritise your studies!

Take on greater responsibility D Take a step up in your part-time job – the more challenging your experience has been, the more likely it is to stand out to employers. D Think about how you can present your work experience as evidence to demonstrate your employability. For example the skills you’ve developed or your formative experiences.

Work on your sales pitch D Now you have done extracurricular activities, think about how you can articulate them to employers.

Consider study abroad opportunities D Exchanges usually take place in the penultimate year, so it’s important to get the ball rolling early in your degree. Do your research! Research industry events D Start to take part in industry events and talk to members of your target profession or specialisation. D Attend information sessions/open days. Prepare questions tailored to each organisation and your specialisation.

Make the most of your relationships D Make the most of mentoring programs or professional associations – any interaction has the potential to open doors.

Build your profile and networks D Join LinkedIn and professional associations. D Keep in touch with people you meet on work experience – thank them for their help and let them know how it has assisted you. Review your CV and cover letter D Add in new skills and experiences. Get your cover letter, CV and work experience applications checked by the careers centre. Attend careers events and expos D Check out employer events on campus, recruitment fairs and open days. Prepare for interviews D Get ready for interviews, assessment centres and psychometric tests. D Check deadlines for internships and vacation programs. D Clean up your social media.

Stay current D Make an effort to keep up to date with news and current affairs. Subscribe to a credible business newspaper or journals specific to your profession (student discounts are often available). Research and prepare for graduate opportunities D If you haven’t already, subscribe to gradaustralia.com.au and keep up to date with career advice and graduate job opportunities as they arise. D Attend career fairs and employer events. D Talk to a careers adviser if you need help planning for life after graduation. D Keep a list of graduate application deadlines. D Practice mock interviews and psychometric tests ahead of the real thing.

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Researching and choosing the right organisation

Once you have chosen a specialisation, then your next decision – which organisation to apply for – can fast become a vexing one. Even if you have a strong sense of where you’d like to work, it pays to ensure that your decision is a carefully considered one. After all, why shouldn’t you reward yourself with the best possible start to your career?

There is always scope for change – you may just need to take a backwards or sideways step, depending on the stage at which you choose to switch. For example, it can often be easier to make a switch in the earlier stages of your career.

To help you make the best choice, we’ve compiled a list of seven key questions every business graduate should be able to answer when considering a prospective organisation.

The importance of culture in an organisation cannot be overstated. After all, there are few other environments in which you’ll work as intensely or closely with other groups of people, so it pays to ensure that you fit in and feel supported.

How large is the organisation?

Organisations range in size from tiny boutique outfits that tend to specialise in niche areas, such as small accounting firms, to global giants like PwC, which employs more than 223,000 people in 157 countries. There are pros and cons to working in organisations at either end of the spectrum. While some may be drawn to the scale, stability and career advancement opportunities offered by medium and large organisations, others will prefer smaller organisations where they can focus on specific topics of interest, develop close client relationships and potentially enjoy a more close-knit culture. Smaller organisations may have a faster growth trajectory given their ‘all hands on deck’ approach. Of course, there are few merits that are reliably exclusive to firms of any size, so the scale of any specific firm should be considered only insofar as it might impact on your career satisfaction and advancement.

Will you be working in a specialisation that interests you?

As you’ve seen in the first section of this guide, there are many areas in which you could choose to specialise. If you have a strong sense of which specialisation interests you most, then it’s worth seeking out organisations that will cultivate your passion. It’s also important to consider whether your personality fits the specialisation. Bear in mind that it may be challenging to switch specialisations once you commit to one. This doesn’t mean it can’t be done! www.gradaustralia.com.au

What’s the culture of the organisation like?

To properly evaluate the culture of an organisation, you’ll need to ask a variety of questions: How competitive is the organisation? What sort of people work there? What is expected of graduate employees? What are the people like? How many hours a week will I work? Organisations and even individual teams within organisations also vary widely in their value systems. Some may value individualism, conspicuous effort or reaching monetary targets; others may value employee and client satisfaction, work/life balance or community engagement. Where possible, try to secure a position in an organisation whose values are consistent with yours.

Will working at this organisation help you in your career? On average, people change jobs between 11 and 12 times during their careers. So, it pays to consider where you want to be not just for the next few years but in a decade or so. If you have a strong sense of your career goals, then you should ensure the firm you’re interested in will help you meet them. This might mean checking that you’ll learn the right skills, focus on the right issues, gain the right experience or network with the right people.

Some firms have established professional development initiatives, especially those with structured graduate programs. Just be certain that your career will grow at your target organisation, and not be restricted because of it. Remember, you should always choose an organisation that facilitates the

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greatest rate of growth. The moment you stop learning, it’s time to look elsewhere – either in terms of role or organisation.

Does the organisation have an international presence? For graduates excited about the prospect of working abroad or focusing on international projects, it could be worth prioritising organisations that have a global presence. It can be much easier to find employment overseas if internal transfers are available, and international firms often leverage their global presence to address issues that span multiple regions. On the other hand, if you’d prefer to work in a single location or focus on domestic issues, you may wish to avoid international firms in which overseas postings or training programs are considered a natural part of your career progression.

Will you have a healthy work/life balance?

You will have your own sense of what a healthy work/ life balance looks like – some people may derive satisfaction from working late, others may prefer more regular hours with ample time for personal commitments. In either case, it’s important to check that your idea of a healthy work/life balance is achievable at a target organisation.

Who are the clients?

If you work in professional services, you may want to consider the types of clients your target organisation works with. Are they in industries you would like exposure to? While you don’t have to be passionate about every client and industry your organisation works with, you must at least be sure that you are curious.

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■ Will you be required to work long hours without a clear link to performance and pay? ■ Are there opportunities for professional development, including training, education (such as funding for further study) and mentoring? ■ What is the professional reputation of the person you will be reporting to? Do you think you will like working with them? How to find answers If you are interested in working for a particular organisation, it’s helpful to speak with current employees about their individual experiences. One way to do this is by approaching representatives of your target organisation at careers fairs. Alternatively, recruitment agents and other contacts and friends who have worked at the firm can provide honest and valuable information about its culture, reputation and working environment. You can also refer to graduate job reviews and insider guides on gradaustralia.com.au. Researching online can be a helpful way to find answers to your questions, although you should, of course, endeavour to base your opinions on reputable sources. You can also seek the advice of lecturers, tutors and career counsellors. Finally, there’s no better time to ask clarifying questions than during a job interview. By doing your research and deciding carefully on an organisation that fits your values, goals and expectations, you can be confident of your choice and get your career off to a flying start!

Other things to consider It pays to consider your academic background. If you’ve completed an undergraduate degree or alternative qualification in an area other than business, this may make you more employable in specific areas. For example, if you studied law alongside your business degree, you may find it advantageous to pursue a career at a commercial law firm. You should also take into account your interests and explore how you could use these to create a more satisfying career. Further questions to assist your decision making include: ■ Where is the organisation located? ■ Will the organisation meet your salary expectations? ■ Will you have any autonomy, and if so, how much? ■ Will you receive a variety of interesting work? ■ Will you have an opportunity for rotation into different specialisations?

Marsh fosters an all-inclusive environment and this is reflected in their resource groups which are focused on areas such as gender diversity, LGBTIQ+ (Pride) and young professionals.

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Writing a CV and cover letter

First impressions are lasting and this is especially true when it comes to CVs and cover letters for graduate jobs. After all, the content of your application is only half the game. As a business graduate, it is expected that you can write clearly and persuasively. Moreover, recruiters are often time-poor professionals who want to separate the wheat from the chaff quickly, before reaching out to candidates who distinguish themselves with academic credentials, work experience or diverse interests. So, to help you put your best foot forward, we’ve assembled some tips on how to create a killer cover letter and CV.

Creating a standout cover letter The basics A cover letter is like a sales pitch, and what you’re trying to sell is your own suitability for a target job. Successful cover letters: ■ Highlight the important parts of your CV ■ Provide a sample of your written communication skills ■ Show how your skills, education and experience are relevant to the position for which you’re applying ■ Address any specific selection criteria in the job advertisement ■ Draw attention to your achievements ■ Use appropriate formatting and a professional and confident tone of voice ■ Encourage prospective employers to read further into your CV ■ Demonstrate one’s command of the rules of grammar and style. Why invest in writing a good cover letter? Cover letters can be time-consuming, and that’s largely due to the importance of writing a new one for each application. Nothing turns off a prospective employer quite like the sense that they’re reading a template letter. It’s vitally important that your submission – or at the very least, the bulk of it – is specific to the employer in question. It’s a chance to convince them that you want to work in their industry, for their specific organisation and in the role they advertised. For example, why do you want to use your degree at a large auditing or accounting firm? What, to you, is the appeal of pursuing a public sector career, instead of a private, commercial one? www.gradaustralia.com.au

The contents A cover letter should include the following: ■ ■ ■ ■ ■

Your personal/contact details The date A salutation/greeting How you heard about the job/organisation What attracts you to the job or organisation (you can mention some of their projects or significant staff members) ■ Why you believe you would be an asset to the team ■ How you will follow up ■ A closing/signature. The trick is to have a clear idea as to what the company does and what the job entails, then draw out evidence of your own relevant skills. Here, the more specific you can be, the better. For example, instead of simply writing that you ‘interned in a private clients team’, you could say, ‘As an intern, I worked with the private clients team where I was responsible for providing tax advice to meet specific client needs.’ Structure and tone Your cover letter should have a clear structure with an introduction that leads into a summary of your relevant skills and experiences. This should be followed by a closing statement that reiterates your interest in the job, thanks the employer for their time and includes a ‘soft pitch’. For example, you might write something like:

‘I look forward to speaking with you further about how I can make a positive contribution to your team.’ Throughout the letter, your tone should be polite and professional. This doesn’t mean, however, that you should tie yourself in knots trying to sound overly formal. Simply avoid colloquial language wherever possible and focus on providing evidence of why you should be hired (as opposed to simply claiming to be ‘excellent’ or ‘talented’). Finally, keep your cover letter succinct. It should be no longer than one A4 page and have your details clearly written as part of a letterhead.

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Get to the top of the pile: writing a successful CV A curriculum vitae (CV) is a written overview of your experience and other qualifications for a job opportunity. Creating a good CV generally takes more time than writing a cover letter. However, once complete, a CV can be submitted to each new employer with only minor adjustments. The basics A CV should concisely outline your relevant educational history, work experience, professional accomplishments and qualifications. It may also include details of referees (if requested). A successful CV: ■ Can be read easily and uses a clear font in a reasonable size with logical headings and well structured bullet points ■ Uses a skills-focused or chronological format ■ Emphasises skills or job experiences that are particularly relevant to the job description. Why invest time in writing a good CV? The role of a CV is to provide recruiters and prospective employers with an easily scannable summary of your achievements so they can decide whether or not to progress your application by offering you an interview. As a graduate, you’ll often find that your educational pedigree is similar to other applicants, many of whom will have completed near-identical degrees at equivalent institutions. Consequently, it’s worth taking the time to figure out what differentiates you from the crowd before subtly emphasising this in your CV. For example, you might bill yourself as having strong communication skills and include in your CV the fact that you volunteered at community organisations. Or perhaps you speak another language, love coding or have a specific five-year goal that the role you’re applying for will help you achieve. Giving your CV a novel ‘twist’ is a sure-fire way to make sure it doesn’t get lost in all the noise. The contents A CV should include the following: ■ Your contact details ■ Your residency status (if applicable) ■ A career overview, with an emphasis on industry positions or transferable skills gained through other jobs you’ve held ■ A summary of your education and training ■ A list of any professional accreditations or other qualifications you have (for example, a certificate of proficiency in a different language) ■ Details of your referees (or an explicit offer to provide them).

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Education Your educational history from your university years should include your predicted or actual degree grades, information on group projects and your dissertation, any units relevant to the job, and relevant academic awards. Employers don’t need to know the specifics of units that don’t relate to them. Work experience You should prioritise any work experience you have, and highlight specific accomplishments that are relevant to the position for which you’re applying. Of course, as a graduate, your experience in business may be limited, if you have any at all. Fortunately, many employers look very favourably on a diverse range of achievements and experiences. Examples worth mentioning include fundraising, voluntary work, independent overseas travel, sporting achievements or leading roles in university clubs or societies. You needn’t go into too much detail – a summary of your achievements and any relevant transferable skills (leadership, teamwork or problemsolving skills) will suffice. Structure and tone The most common CV format is the reversechronological, which presents your most recent work experience and educational accomplishments first, before moving backwards. If you follow this approach, make sure the chronology is clear, well constructed and there are no large gaps that could confuse or worry employers. For example, if you took a year off to go travelling between jobs, you might even include that as a CV entry. As with your cover letter, your tone should be polite and professional, and your entries as specific and detailed as possible. Here are some tips to get you started: ■ Describe achievements, not just job titles. Instead of saying you were an intern at EY, mention specifically what you accomplished, learned or contributed. ■ Emphasise more recent jobs and achievements. ■ Be honest. You should expect your CV will be read critically and important points will be cross-checked with referees or industry databases. ■ Keep paragraphs to three or four lines and space them well. This helps the reader pick out the main facts and assimilate a number of points quickly. ■ Use bullet points wherever they add clarity and visual style. When writing bullet points, use direct action words such as ‘designed’, ‘built’ and ‘organised’. This has the effect of assigning credit to you for your achievements and enhances the CV’s overall credibility. ■ Prioritise relevance but also leave room for things that make you seem interesting or well rounded. For example, there’s no reason not to include a cooking qualification as a point of interest, but you needn’t claim it will be integral to your success in business. www.gradaustralia.com.au

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Sample cover letters Sample cover letter #1 Applying for an internship

[INSERT YOUR NAME] [INSERT YOUR ADDRESS] [INSERT YOUR NUMBER] [INSERT YOUR EMAIL ADDRESS] [INSERT DATE] [INSERT NAME OF RECIPIENT] [INSERT RECIPIENT’S POSITION] [INSERT RECIPIENT’S ADDRESS] Dear [RECIPIENT]: I am a [first/second/third]-year student at [insert academic institution] and I’m writing to apply for [name of position advertised] position with [name of organisation]. I have a strong [insert average mark], which I achieved while [include example of extracurricular activity or personal challenge]. Completing a placement at [insert organisation] would allow me to continue my commitment to [insert an issue relevant to the organisation and for which you are genuinely passionate]. I feel confident that I will make a positive contribution to your office while strengthening the skills I’ll need for a career in [insert relevant specialisation]. [NB: We will assume from this point onwards that the author is applying for an internship at a large accounting firm in their management consulting division]. As a student at [insert academic institution], I wrote an honours thesis on the correlation between effective organisational design and revenue uplift. Specifically, my thesis argued success relies on aligning an organisation’s structure and accountabilities to the business’ broader strategic goals. I am passionate about applying these learnings to real-life industry problems – specifically, by engaging with management to challenge the constraints of their existing organisations and then co-designing new structures to support their business goals. I was drawn to [organisation’s name] because it is my career goal to work in an industry that encourages strategic and creative thinking to solve business problems. As a market leader in management consulting, [organisation’s name] has [insert examples of its involvement in this area, such as a major client]. These projects resonated with me because [insert why these projects resonated with you, for example, linking to organisational design in the previous paragraph]. This semester, I worked with a start-up to develop an app designed to connect disadvantaged youth with potential employers. I was responsible for building relationships with a broad range of stakeholders including disadvantaged youth, youth organisations, smaller businesses and corporations. I was able to learn how to interact with multiple stakeholders representing different interests. I believe these skills will be a valuable asset in helping to build client relationships and business development opportunities in the future. Given my ability to learn quickly and in a fast-paced environment, I believe I will be able to adapt to the demands of management consulting. Moreover, my background in commerce has provided me with the analytical toolkit that I believe will be valuable at your organisation. I have enclosed a resume highlighting my education and work experience. I hope to have the opportunity to interview with you about an internship position, and I will call your office in a few weeks to see if I may schedule a time to speak with you. Thank you in advance for your time and consideration. Sincerely, [Your name]

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Sample cover letter #2

Applying for a graduate position [INSERT YOUR NAME] [INSERT YOUR ADDRESS] [INSERT YOUR NUMBER] [INSERT YOUR EMAIL ADDRESS]

[INSERT DATE] [INSERT NAME OF RECIPIENT] [INSERT RECIPIENT’S POSITION] [INSERT RECIPIENT’S ADDRESS] RE: Application for [Position] at [Organisation] Dear [Mr/Ms last name of contact person], I am writing to apply for the graduate program at [organisation name]. I am currently in my penultimate year of an [insert degree and unit], having previously completed my undergraduate major in [insert subject]. I have a strong distinction average, which I have achieved while maintaining multiple extracurricular commitments, including being elected by my peers in 2019 to the role of [position] in the [student society/leadership organisation], and working part-time. I am applying to [organisation name] because of its position as a market leader in the Asia Pacific region. This is reflected in [organisation name]’s success in consistently winning the [award] as well as its prominent role in [example]. [NB: We will assume from this point onwards that the author is applying for a trading graduate role at an investment bank]. My interest in trading was born of my experience developing and trading my own portfolio, where I have consistently been able to generate an above market return. In 2018, I was a finalist in a three-day simulated market challenge run by the University of New South Wales and the Trading Society. From these experiences, I have learnt how to identify trading opportunities and execute these under pressure in a fast-paced, dynamic environment. Given my passion in trading, I have taken every opportunity possible to prepare myself for a career in this industry. In 2019, I completed a summer internship at Macquarie’s Commodities and Global Markets unit, where I was responsible for researching the energy futures market with a focus on Australian coal and power [insert other achievements where relevant]. Furthermore, in my most recent semester, I completed an online course via Coursera on algorithmic trading to enhance my understanding of the impact of technology on the market. I believe that my [insert character attributes], and my dedication to [organisation name]’s mission will enable me to make a positive contribution at your firm. Please find enclosed my resume and a copy of my academic transcript. I will send an email in a few weeks to follow up on my application. Thank you in advance for your time and consideration. Yours sincerely, [Your name]

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How to ace an interview

First impressions: how to nail your job interview A job interview is, essentially, an opportunity for you to show off your skills, talents and experience while demonstrating your knowledge of the job and asking any questions you might have. In this section, we’ll focus primarily on the main question you can expect to be asked during an interview: why do you think you’re suitable for the job? Here are some tips to make sure you can knock it out of the park. Research the job! We know – this seems like an obvious tip. However, recruiters often express their amazement at candidates who arrive at interviews with only a superficial understanding of their target job. You should instead possess an in-depth knowledge of the job description and be ready to convince the jury, with evidence, that you’re the best person to take it on. ■ Start by reading the job description, paying particular attention to any academic requirements, as well as essential and desirable attributes. If there is anything you wish to clarify, be proactive and reach out to graduate recruiters or company contacts. You can also check if gradaustralia.com.au has a profile of the company. ■ Get a feel for what life will be like ‘on the job’ by talking with contacts in similar roles, and reading graduate stories and job reviews at gradaustralia.com.au. ■ Find out more about the organisation, such as the types of clients it works with, where it is based and what types of projects it takes on. Deepen your understanding When it comes to demonstrating your suitability for a particular role, the general rule is this: the more specific you can be, the better. Of course, this means arriving at a deep understanding of what the role will entail – and this will usually require you to go beyond the job description by asking questions like these below: ■ How much of your working day will be spent working alone and how much will be spent interacting with others? www.gradaustralia.com.au

When it comes to demonstrating your suitability for a particular role, the general rule is this: the more specific you can be, the better.

■ Will you only have to deal with your immediate team and supervisor, or will you interact with internal or external clients? ■ Is this job more focused on meeting immediate, conflicting deadlines in a fast-paced environment or longer-term planning and development work? ■ How flexible will you have to be, for example, in terms of travel, working hours, changing projects or picking up new skills at short notice? ■ What industry sector(s) will you be working in/for? Will you need to develop a working knowledge of, say, the finance sector or the retail industry? ■ Will training and development time be built into your job, or will you be expected to learn extra skills and keep up to date with new developments in your own time? Bringing it together into your own pitch By combining what you’ve learned from the position description and your own supplementary research, you’ll arrive at a strong sense of the talents and attributes you should emphasise in the interview. For example, you might reach one of the following conclusions: ■ I will be working for both internal and external clients, so I’ll need to show I have good interpersonal skills such as the ability to communicate effectively, build relationships and negotiate with tact and patience. The recruiter will also want to see that I’m presentable, confident and friendly. ■ I’ll be working to tight deadlines, so I will need to show I can handle pressure and manage competing priorities. ■ I’ll be working closely with community stakeholders, so I should talk about my contribution to volunteer projects and extracurricular involvement in community activities.

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What to expect at an assessment centre

Assessment centres Many organisations use assessment centres in their recruitment processes for student and graduate recruitment. What is an assessment centre? Candidates are invited to assessment centres to undertake a combination of individual and group exercises. They are used by organisations to compare candidates on the same day and reduce the number of shortlisted candidates moving to the next round. The length of time you’ll be expected to present at an assessment centre varies widely, from as little as a few hours to as much as three days. How to prepare One of the main objectives of assessment centre recruiters is to see how you perform under pressure. As such, you should anticipate some degree of stress. People perform better when they know to expect stress and have done everything they can to manage it. You should also know what the schedule for the day is, read any preparatory material and double-check the dress code (typically formal). It can be daunting, but remember: this is a chance to show off your skills and also assess whether the organisation is right for you.

■ Practise. Assessment centres often subject candidates to psychometric tests, verbal reasoning tests and numerical tests. You would do well to practise each of these – there are many online resources you can draw upon. Alternatively, you may contact a careers advisor for advice on how to prepare. ■ Present. Some recruiters will ask you to prepare a presentation for delivery at the assessment centre. This will allow them to test your communication skills. Their attention will focus on the structure of the presentation, as well as its content and delivery. On the day Don’t be surprised if, on the day, you find yourself joined by a large group of people all applying for the same role. There will also be an organiser and various representatives of the organisation. It’s natural to feel some anxiety, but bear in mind that your nervousness is usually related to how others will react to your performance. The performance itself is a separate issue – something relatively within your control – and, if you’ve prepared well, then you have nothing to worry about.

Things you can do in advance include: Know what is happening in the world. A general understanding of world politics and business will give you a broader understanding of most topics that can arise during formal and informal conversations. ■ Know what is happening in the sector. Be sure to know the most relevant updates. Research whether or not the organisation in question has been in the news lately. You should also familiarise yourself with any broader industry trends and news stories, and be sure to have an opinion. This may not be obviously relevant, but it’s the kind of thing a recruiter or fellow candidate might bring up in conversation. ■ Know the competitors. This will help you answer any questions about where you think the future of the organisation will be. Will they follow a competitor who is doing well or are they doing things differently?

Protiviti’s assessment centre will let them get to know you and how you conduct yourself around your future colleagues.

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Getting an offer

Contract of employment Before entering into a contract of employment and accepting your first position, you should seek clarification on the following: ■ Start date. ■ Duties and/or job description. ■ The number of hours you will be required to work. Keep in mind you may be told you have to work 9.00 am–5.00 pm, plus any further hours as required to meet your clients’ expectations and demands of the job. In the private sector, it is possible you will spend at least ten hours a day in the office in order to meet the requirements of the role. ■ Rate and method of pay (weekly/monthly). ■ Whether the salary offer is a package (base and superannuation combined) or a base salary plus superannuation. ■ When and if you will be entitled to a salary increase (particularly if you are paid junior rates). ■ Any leave entitlements, including parental and long service leave. ■ Whether you will be employed on a permanent, part-time, temporary or casual basis. ■ When you can expect to receive a written contract of employment. ■ Confirmation of all employment conditions in writing (including your next salary review date). ■ Which enterprise agreement or award you will be working under, if any. ■ The termination notice requirements of both parties. Before signing your first contract, read it carefully, making sure you don’t sign anything you don’t understand. There’s no need to feel pressured into signing a contract on the spot. Tell your potential employer that you want to take the contract home and will return it as soon as practicable. If you don’t agree with a certain clause in a contract, you can rule a line through the provision that you don’t agree with and place your initials in the margin. Salary Salaries will vary substantially between large and small organisations and between specialisations. More generous salaries are likely to be associated with larger firms or certain specialisations. For example, www.gradaustralia.com.au

those working in investment banking may be required to work long hours. As a result, they can generally demand higher salaries as compensation. Superannuation As a general rule, you are entitled to a minimum of 9.5 per cent superannuation paid into a fund of your choice. However, if you are employed as an independent contractor or on a contract for services you will not be automatically entitled to superannuation. If you have previous superannuation policies but are unsure of the name or policy number, contact the Australian Taxation Office Superannuation Line on 131 020. If you have had previous casual and part-time positions, it is likely that you have several superannuation funds. To consolidate your accounts, obtain and complete a rollover form from your current superannuation fund of choice. Rolling over your superannuation will: ■ Minimise the risk of you losing your superannuation ■ Minimise administration fees you are likely to be charged ■ Help you keep track of your superannuation as it is all in the one place ■ Minimise the statements you will receive.

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Managing social media

Social networking sites are a great way to stay in touch with friends and family, organise events and share photos and videos. However, recruiters are increasingly using these networks as a way of vetting applications. So, as you start thinking about applying for jobs, it is crucial you ensure your online persona aligns with your career goals.

the site itself, they will only have access to the content that you want them to see. Don’t forget areas such as blogs, forum posts and other applications like YouTube. Anything you posted under your real name could show up in a search. Your rants about a company or views that might cause concern to a potential employer could knock you out of the running.

A balancing act Whether you are a dedicated social networker or just spend a few hours a week on networking sites, it is worth giving serious thought to who can access your data. The content you place online can have a big impact on your future.

Let the net work for you The web isn’t just there to catch you out; it can also be your friend in the recruitment process. In one study, half of recruiters said that the information they had found about a candidate online had positively influenced their decision-making.

Unless you have made the effort to change your privacy settings, your profile could be visible to any HR person and searchable on Google. Joining location networks on Facebook will also open up your profile to anyone on that network, not just your friends. If you make use of Facebook’s ‘check in’ feature, others can easily find out how you have been spending your free time.

Some graduate recruiters have created groups on social networks to make it easier for graduates to get in touch and find out more about their organisations, which can be an excellent opportunity to network.

Many employers are using social networks to screen candidates. If your profile is public, any potential employer could have details on a lot more than just your qualifications and work experience. This doesn’t mean you need to remove every trace of your existence, just that you need to be savvy and ensure that your online persona portrays you at your best to recruiters and employers. Managing your reputation Consider what content you are happy for anyone to see and what you feel is best saved for friends and family. A good option is to use LinkedIn for your professional life and Facebook for your private life. Start by using the settings Facebook and other networking sites now offer to help you control your privacy level. You can choose who can see particular status updates, photos and anything else. Next, pop your name into a search engine and see what comes up. Most social networks have a public listing that contains posted information from your profile and a link. This can be switched off by editing your privacy settings. While you are at it, why not switch your profile to ‘friends only’? That way, should a recruiter search on

Twitter can also be a good way to connect with employers. You can use it to listen to what recruiters are saying and to keep up to date with their latest news. If you are interested in working for an organisation, follow its Twitter feed to find out the latest company information and recruitment activities. Many savvy students have already set up their own website or blog. If you haven’t, consider it. It demonstrates initiative and (if you do it right) is a good way of showing off your creativity and communication skills and highlighting achievements in greater detail. However, don’t forget to make it look professional and appropriate for your future career. The web is a valuable resource and you can have fun with it, just remember it is a public arena. Ensure it helps, rather than hinders, your career search. Tips for making social media work for you ■ Be aware: Google yourself (using incognito mode) regularly to see what information about you is out there for anyone to find. ■ Be proactive: use networking to help you develop and maintain your reputation and relationships. ■ Be consistent: make your personal brand consistent across any platform that is accessible to a potential employer. ■ Be knowledgeable: get to know what people in your target field are interested in to ensure your message hits the target. www.gradaustralia.com.au

CAREERS INTELLIGENCE AMP GRADUATE REVIEW: MANAGEMENT

Very good support system for the grads here. You have the managers you report to, you get assigned a buddy from the graduate cohort above. Also have access to a grad champion and the grad coordinator if you have any questions. – Graduate, AMP, Sydney

KRAFT HEINZ GRADUATE REVIEW: CAREER PROSPECTS

There are lots of promotion possibilities, all the graduates from the year before me have fantastic roles and people move up quickly. It takes you being always willing to learn and try new things and a can do attitude. – Graduate, Kraft Heinz, Melbourne

MAINFREIGHT GRADUATE REVIEW: CULTURE

The culture is working together as a team, everyone is approachable and no one is higher than the other. The office is an open plan, as we are a team regardless of your role. At work we are a family, we have lunch together, we support one another in the office and after hours. Definitely a teamwork environment, it is easy to socialise with any team member. – Midlevel, Mainfreight, Melbourne

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Chapter 4

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Understanding probation

When you start a new role you may be placed on probation. Don’t worry, this is pretty normal! The purpose of probation, which typically ranges from three to six months, is for both you and your employer to assess if you are suited to your new role. During this time, your employer will typically help you to develop performance goals (also known as key performance indicators or KPIs). This gives you both a clear view of what you are working towards – and something by which to measure your performance and suitability for continuing employment. It’s important to know and understand the terms of your probation. This means confirming: ■ The length of your probation ■ All goals and tasks you are responsible for during your probation ■ Whether there will be a formal performance review at the end of your probation ■ Who you can speak to if you have any questions or concerns about your probation ■ How the firm deals with employees who don’t meet their probation requirements (especially when prevented from doing so by extenuating circumstances such as accident or illness). Your employment can be lawfully terminated if you fail to achieve the required expectations (subject to the terms and conditions of employment). A strong support network can be invaluable in helping you deal with your employer’s expectations – especially if those expectations are not reasonable. According to the Australian Government Fair Work Ombudsman, employees who do not pass their probation are still entitled to receive notice when their employment ends. Furthermore, you are not to be denied any basic entitlements, such as paid leave and sick leave, during your probationary period. While being on probation can feel a little daunting, you should see this period as an opportunity to learn as much as you can about your role and the organisation. This is the time to ask lots of questions – after all, no one expects you to know www.gradaustralia.com.au

Seeing every opportunity as a learning opportunity and cultivating a growth mindset will help you develop resilience and compassion for yourself as you move ahead in your career.

all the answers just yet! It will take some time before you find your rhythm. Most learning curves are steep at the very beginning, so be patient and remember you are there to learn. Don’t be alarmed if you make a mistake (or two or more!). Mistakes happen and if seen in the right way, are a great learning experience. Think about what it was that didn’t work, and why and how you could do better next time. Seeing every opportunity as a learning opportunity and cultivating a growth mindset will help you develop resilience and compassion for yourself as you move ahead in your career. It’s also important to take the time to regularly reflect on whether this is the right path or place for you. Sometimes it can be confronting when you realise a chosen path isn’t necessarily what you thought it might be. In fact, it is often the case that a role may not exactly match your expectations – some aspects might be more exciting than you thought, others perhaps, more mundane or less interesting. The reality is there will always be some aspects of your job that you dislike more than others… and sometimes you just need to ‘stick it out’. It’s also important to know that your role will evolve over time – and that you can have a say in this! If you see aspects of your role that you particularly like, or would like to do more of, be sure to express this to your manager. At the same time, don’t be scared to admit the truth. If you continue to feel your specialisation or role isn’t quite right, that’s okay! It’s never too late to change a role, specialisation or organisation. You are never stuck. There are always options if you look hard enough.

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Handling performance reviews

Ah, the performance review. Enough to make even the boldest of us quake a little in our boots. But it doesn’t have to be like this. After all, the purpose of performance reviews is simply to help us learn more about ourselves and to grow. Remember, most of the time our employers only want us to succeed – reviewing your work is a great way to learn how to do that! Performance reviews are typically held once a year. You and your manager will review your work and what you have accomplished during this time. It’s also an opportunity to discuss remuneration such as salary and bonuses. Here are some strategies to help you approach your performance review: ■ Know what you want: remember, this is your career – and no one else is going to be as interested in it as you. It’s critical therefore to enter a performance review knowing what you would like to get out of it. Do you want a promotion? An internal transfer? A move to a new location? Study or professional development opportunities? Be clear on your intention for the performance review. This will help you to prepare your thoughts – whether that’s questions to ask or arguments to put forward – and will help you to guide the conversation where you can. ■ Be open to feedback: this is key! Performance reviews are an opportunity to really listen to what your manager and team think you could improve on. Maybe it’s learning to speak up in meetings, to pay more attention to detail or to learn how to look at the bigger picture in a more strategic way. Whatever it is, this feedback is extremely valuable and if taken on board can help you to grow in your role and beyond. ■ Ask questions and get clarification: if you don’t understand feedback that is given to you, don’t be afraid to ask questions. It’s important you are clear on what you are being asked to do – and how to do it. The performance review is a time dedicated specifically to you and your development. So, be selfish, use the time and ask questions to get the answers you need. ■ Agree on a path forward: during your performance review, it’s important you set the expectations

for your performance in the future. Know what you’re being asked to do going forward and set in place some performance metrics with which you can measure your progress. This will provide an objective measure for future performance reviews. ■ Know your worth: if you are planning to negotiate your salary or bonus, it’s important to know your numbers. Whether internal or external, find some benchmarks for comparison, such as figures from other organisations or industry averages. Be sure you can point to specific accomplishments and reasons why you deserve higher pay. ■ Don’t lose your cool: if you believe you are being unfairly criticised, or you don’t support the feedback you are given, be careful in the way you respond. Taking a defensive or aggressive attitude may demonstrate that you aren’t open to feedback (and therefore growth and personal development), which may not be the best move. In this instance, it might be better to take a little time to reflect on the feedback provided. If necessary, you can prepare a counter argument and brainstorm examples that serve as evidence, before meeting with your manager for further discussion. During your performance review, it is acceptable to mention that you would like some time to reflect on the review, and ask if you can revisit the discussion again later.

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Establishing strong professional relationships

Working in business is frequently a collaborative process, so it’s vital you foster strong professional relationships characterised by open communication, mutual respect and the shared pursuit of common goals. As a graduate, you can learn a lot about how to do this by observing your colleagues, taking their advice seriously and remaining open to constructive feedback. Below we discuss ways to establish and manage professional relationships with key people you are likely to encounter during your initial graduate experiences – your manager, colleagues, clients and other stakeholders. Your manager When you start your role, you will be assigned a manager. Sometimes you will have met your manager during the interview process, other times they will be an entirely new face. Regardless, it’s important you’re open with your supervisor about what you expect to learn as a graduate. You are the only person in charge of your career. It’s important you are clear about why you are at the organisation and what you would like to learn and achieve. Your manager is someone you can rely on to help you achieve your professional goals, but if you don’t tell them what you want to learn, they won’t be able to read your mind!

Jetstar is renowned for its diverse, dynamic and fun work culture.

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The level of interaction with your manager will depend on your organisation and specialisation. Typically however, the role of your manager will be to assign you work as required, hold you to account and assess your performance (which then has implications for salary increases or bonuses). It is important then, that you understand exactly what is required of you when delegated a new task. If you are confused or unsure, be sure to communicate this to your supervisor and seek clarification. Don’t be afraid of asking questions! You will gain respect for demonstrating a desire to learn and get things done in the right way. Taking notes is a good way to ensure you successfully integrate advice, and gives you something to refer back to if you need to refresh your memory. If you feel you are unable to complete a task by a given deadline, it is important to let your manager know immediately. Your supervisor can use this information to manage workflows across their team more effectively, ensuring you aren’t assigned too many tasks or tasks of undue complexity. Remember, managing your time means being aware – and realistic – about how you spend your time and prioritising accordingly. It is also important that you own up to your mistakes. You’re there to learn! While a mistake may feel

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TAL have a good culture of supporting one another.

mortifying in the first instance, remember every mistake is an opportunity to ask for feedback and advice on how to avoid making the same mistakes in the future. Doing this will help you establish trust in your relationship with your manager. Your colleagues One of the best things about entering the workforce as a graduate is your cohort: the people who start the graduate journey with you during the annual ‘intake’ at your organisation. Depending on your specialisation, these graduates will have studied similar things to you, such as accounting, finance and marketing; or if you enter a specialisation such as management consulting, they could have a diverse range of backgrounds beyond business, such as science, arts or engineering. Depending on the graduate program within your organisation, you will typically find yourself spending a lot of time with other graduates, from formal group training sessions to casual Friday night drinks. It can be comforting to know there is a group of people who are going through the same challenges as you that you can share your experiences with. It’s common for many graduates to hang out beyond the office, and it can be the start of many lasting friendships. While this is a great way to get to know the people in your organisation, remember to be careful about what you (or your colleagues) post on social media. Aside from your graduate cohort, you will inevitably work with other members of your organisation. These may range from the more senior partners or directors to more junior colleagues. While it may be intimidating at first to meet so many new faces, it is a great way to learn more about your organisation and the different roles. At some organisations, you may be assigned a ‘buddy’ or mentor. This is the perfect person to unleash your questions on – from routine queries like how to apply for leave, to more serious advice about how to progress within your organisation or on different career paths.

Your clients If you work in professional services, you will increasingly be expected to deal directly with your organisation’s clients. This may even mean spending time directly on site during a project. Therefore, it’s worth taking some time to really walk in your client’s shoes. What do they think about? What keeps them up at night? What do they really need? They might be big-picture oriented or love the nitty-gritty details. Being on the front foot and anticipating client needs and questions is critical to success. For example, when presenting a piece of analysis, think about what your clients might ask, where they might challenge you and what they might assume are the next steps. Running through your analysis with your team or manager ahead of time will also help you prepare for anything that might come your way. If you’re working in-house or at a corporate, your clients may in fact be your end customer, particularly if you are working in sales or customer service. Thinking about their needs in a similar way – and how you can service them – will be key to building a successful relationship. Other stakeholders Depending on your specialisation, you are likely to work with a range of stakeholders such as suppliers, customers, agencies or consultants (particularly if you’re working in-house or for a corporation). Remember, each of these stakeholders provides opportunities for your future. You never know where you might end up, so it’s important to treat these relationships with the same care and professionalism that you would show your colleagues and clients. If you’re interested in expanding your network, it is also worth considering joining professional bodies or attending university alumni events. These are good ways to meet new people who might be relevant to your current (or future) specialisation.

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Managing your time

Graduates often joke that when they are university students, they have all the time in the world and no money; by contrast, as graduates, they have more money but very little time. Starting a full-time job can be a real adjustment. Even just getting up at the same time every day (and often much earlier than when you were at university) can be a shock to the system. Plus, there’s the whole learning – and knowing – how to do your job thing. If you work in professional services, you are typically required to log your hours and meet billable targets. These targets represent the amount of time each week that you charge to clients and they can be especially daunting for graduates who are still learning the ropes. So, as a graduate, you may suddenly realise you have to log your hours, you have to bill your hours, maybe you have to work (really) long hours (depending on your specialisation), plus you have to get up earlier than you probably did at university. No wonder then, time management can seem so overwhelming. But it doesn’t have to be this way. The trick is knowing how to prioritise the most important work, and how to set boundaries so that you can do it. We know things don’t always go to plan, but as much as possible, we suggest creating a time management system to support your work. You can even apply it to your life admin too! So, with this in mind, here are some time management tips to help you stay afloat with minimal stress: ■ Keep an up-to-date to-do list. There are various productivity tools you can try, from the Pomodoro Technique to the Eisenhower Matrix, as well as various apps and websites (such as Trello and Todoist) dedicated to task management. Beyond to-do lists, there are also tools for managing your calendar and remaining productive throughout the day. ■ Prioritise urgent tasks. There are various ways to do this for maximum efficiency. One approach involves ranking each task by ‘importance’ and ‘urgency’ before focusing primarily on tasks that are both important and urgent. www.gradaustralia.com.au

...we suggest creating a time management system to support your work. ■ Eat the frog. Mark Twain once said, ‘If it’s your job to eat a frog, it’s best to do it first thing in the morning. And if it’s your job to eat two frogs, it’s best to eat the biggest one first.’ The frog is essentially the thing that causes you the most anxiety and stress, but also the one that you are most likely to procrastinate on. Eating the frog means to just do it and get it over and done with – which means the rest of your day will seem a breeze in comparison. ■ Keep a diary of critical dates, set up with reminders. Use various tools (such as Microsoft Outlook) to share appointments with other stakeholders, set up phone calls, distribute preparatory material and book meeting rooms. This will ensure you are consistently punctual and on top of your schedule. ■ Learn how to say ‘no’. Don’t take on further work if you know you won’t be able to complete it. Be upfront about what you can reasonably achieve. ■ Delegate tasks wherever possible and appropriate. Remember though, this means not delegating tasks for which you ought to be personally responsible. ■ Update your timesheet. Avoid postponing this until the end of the day or week – it can be difficult to enter time accurately when you must first reconstruct your week in retrospect. Get into the habit of updating your timesheet each time you complete a task. ■ Take regular breaks to stay energised and focused. Sometimes it’s easier to concentrate if you shift gears. If you feel like you’re hitting a wall, take time to clear your head and come back to your task refreshed! ■ Work on complex tasks when you are at your most productive. Consider if there are certain times of the day or days of the week where you are most effective, and plan your tasks accordingly. Always have a plan of attack. Break a large or complex project up into discrete, achievable subtasks before you start working.

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Learning how to resign

Resigning from your position can be daunting, especially if it’s one you’ve worked hard to acquire. However, circumstances do change and not every role works out. So, if you decide to resign, here’s how to do so in a way that will preserve your professional reputation. Wherever possible, you should strive to leave your position on good terms. Your character and conduct are key markers of your professionalism, and more practically, the manner in which you resign may influence whether or not you can ask for a reference in the future. Be prepared to supply a resignation letter when you inform your employer of your decision to leave the firm. In the letter, state the date from which your resignation is effective, your notice period and your last day of work at the firm. If it is appropriate, you can also include a brief positive statement about your time at the firm, referencing things you’ve learned, valuable experiences or meaningful professional relationships.

It is useful to prepare a list of issues that you may need to discuss with your employer when you resign. This could include how to complete any outstanding projects, manage an efficient handover and notify colleagues of your decision. You will more than likely be asked the reasons for your resignation. Being prepared for these questions will help you respond with constructive and thoughtful comments. No matter how negative your experience with your organisation, do not insult your employer or spread rumours about them or the organisation. This behaviour will only reflect poorly on your own character. Remember, don’t burn bridges. Always try to leave on the most positive note possible!

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Maintaining mental health

Coping with stress A healthy level of stress can keep you motivated and may even be a proportionate and manageable response to your new responsibilities. However, in an intense working environment, it is not uncommon for stress levels to rise. Once this happens, stress can fast become a negative force that saps energy and if left unchecked, often leads to burnout and other mental health challenges. Coping with the stress of working life starts with building resilience. You can give yourself space to do this by implementing strategies to help you maintain focus and motivation, and achieve your goals. Some useful strategies include: ■ Time management: keep a list of tasks you aim to complete each day. This will help you break a sometimes overwhelming workload into manageable goals and gauge what you can realistically achieve. ■ Preparation: whether you are scheduled to attend a meeting with a client or present to your team, make sure you give yourself enough time to prepare adequately so that you can perform at your best. ■ Focus on solutions: accept that as a graduate, you will make mistakes. Ask your manager or team for advice on how to avoid repeating them. ■ Maintain a balanced lifestyle: to perform at your best, it’s important to look after your physical and mental health. This means eating well, exercising regularly, taking time out, reducing alcohol intake, maintaining a social life and keeping a healthy sleep schedule. Signs of anxiety and depression It is vital that you treat your mental health just as you would your physical well-being. This means familiarising yourself with the warning signs of anxiety, depression and other conditions, and intervening early if something is amiss. It also means learning the difference between a healthy (or proportionate) level of stress and its opposite, which can manifest itself as anxiety. To help you identify any mental health red flags, below are some warning signs of depression or anxiety: www.gradaustralia.com.au

■ Absenteeism or presenteeism (being in the office but being non-productive) ■ Falling productivity, simple errors, indecision ■ Bad or rash decisions ■ Poor morale and uncharacteristic lack of cooperation ■ Complaints of aches and pains or tiredness on a regular basis ■ Disruptive, interfering or domineering behaviour to other team members ■ Alcohol or drug use or abuse ■ A general reluctance to socialise or participate in company activities ■ An unusually sad mood that does not go away ■ Loss of enjoyment and interest in activities that used to be enjoyable ■ Lack of energy and tiredness ■ Loss of self-confidence, poor self-esteem ■ Feeling guilty when not at fault ■ Thoughts of suicide or self-harm ■ Difficulty concentrating and making decisions ■ Moving more slowly or becoming agitated and unable to settle ■ Having sleeping difficulties or sometimes sleeping too much ■ Loss of interest in food or sometimes eating too much. Support If you require support or know somebody who does, there are many resources available, including several services that will provide immediate support. For example, Beyond Blue and Lifeline Australia provide rapid and anonymous support over the phone and online. The federal government also subsidises selected mental health services, allowing patients with an appropriate referral (from a GP) to access Medicare rebates for up to ten therapy sessions a year. Your university may also provide counselling and support services. ■ Beyond Blue – 1300 22 4636 ■ Lifeline – 13 11 14

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Latest advice

Business Careers Handbook

Articles inside

Maintaining mental health

Establishing strong professional relationships

Handling performance reviews

Learning how to resign

Managing your time

Managing social media

What to expect at an assessment centre

Understanding probation

Getting an offer

How to ace an interview

Writing a CV and cover letter

Sample cover letter

Researching and choosing the right organisation

The ultimate career readiness checklist

Professional services

In-house and corporate

Government sector

Freelance and start-ups

Community sector

Academia

Restructuring and insolvency

Tax advisory

Management consulting – operations, process and technology

Insurance

Risk management

Management consulting – strategy

Forensic accounting

Economics

Assurance and audit

Financial planning

Funds management

Hedge funds

Venture capital

Operations and supply chain

Private equity

Sales and customer service

Marketing

Innovation and digital

Human resources

Communications and public relations

Accounting

M&A and capital markets

Trading

Corporate and institutional banking

Corporate and asset finance

Business banking

Introduction

Retail banking