47 minute read
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
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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
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 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
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
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
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
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 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
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.
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
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
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
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 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
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 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!
Cathy Burbridge studied a Bachelor of Business (Banking and Finance) and is in the financial products analytics and sales team at Bloomberg.
Study
ROLE
At Bloomberg, we’re not big on titles. It’s more about the work we do and the impact we have.
On the job
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 communications, breaking down key tax developments for the day, week or month, and I update and maintain our internal tax knowledge database
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
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
Michael Zervos
Michael Zervos studied a Bachelor of Laws (Hons)/ Bachelor of Accounting and is a graduate in the Tax Policy Centre at EY.
Study
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.
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
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
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
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.
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 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
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
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
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
8.45 AM
I have a 900 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
9.00 AM
The call begins and we discuss some of the outstanding
Tom Flannery studied a Bachelor of Commerce (Accounting, Finance) and is a senior accountant at McGrathNicol.
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.
The call ends and the partner takes us through some of the key action points from the call
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
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 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
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
12.30 PM
It’s time to go to the food court downstairs at Collins Square to grab a bite and chill!
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 programs, all while getting to know the client better Visiting clients’ offices is also something I thoroughly enjoy. It’s definitely a great experience!
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
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
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
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 take note of any graduate training 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 to generate the financial report and complete a trust tax return
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
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
Natalie Shaw
Natalie Shaw is currently studying a Bachelor of Business (Human Resource Management) and a Bachelor of Commerce (Accounting) at Federation University Australia.
calendar to prepare for the day I I may have on The last graduate
a trust business structure I had ■ Feel the fear and do it anyway 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.
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.
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 815 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 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
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 930–1000 pm to get a solid night of sleep for the next day
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 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
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
Hugh Tobin studied a Bachelor of Science (Finance) and is a research analyst at SIG.
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ROLE
Research analyst, SIG
From our morning meetings to conversations with our tech teams on implementing new software, there is a fantastic culture of collaboration at SIG.
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 Australia’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.
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 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
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
