Graduate Careers

The employment market

The employment market for finance graduates is in an exciting stage, with the current economic environment.

There are various career opportunities in financial services including: finance, accounting, insurance, wealth management, investments, capital market, foreign exchange, corporate banking, risk management, treasury and audit.

Finance graduates are fortunate as there are opportunities in nearly every industry including public, private and government sectors. Many organisations also have tailored graduate programs or specific entry-level graduate positions.

In 2008, vacancies for finance graduates increased by 25.1%.

The 2008 AAGE Survey reported that 60% of recruiting organisations had not filled all of their 2008 vacancies by August/September of 2007. This indicates that there is a shortage of ‘suitable’ graduates in the market. There are a number of reasons for this including industry competition, lack of applicants with the right degree or lack of applicants with the right skills.

Employment prospects are becoming less certain due to the economic environment. Despite the tightening economic conditions, the National Australia Bank (NAB) recognises the importance of investing and nurturing in the future, and is continuing to support a strong Graduate Program across a variety of business including Finance and Risk.

Organisations are looking for well rounded graduates so it is important for potential employees to ensure they have a range of experiences, skills and knowledge to offer an organisation. This may include evidence of a strong work history (part time, casual etc), volunteer work, sporting activities and involvement in university/community clubs. Underpinning all of these is the demonstrated ability to be a very strong team player.

Technical skills and academic results are an important focus for graduate selection; however organisations also look for high calibre graduates who will be the leaders of the future. Key competencies include: business acumen, customer focus, teamwork, driving for results and insightful decision making. Strong communication, interpersonal skills and strong desire to work as part of a team are essential in securing a graduate role.

When choosing a potential graduate program, consider what the organisation has to offer, how graduates are valued within the business, and long-term career opportunities.

‘A strong pipeline of quality graduates is essential to the health of an organisation. NAB and similar organisations rely on the graduate pool to help achieve great business outcomes and this will only continue to grow.’ (Glenn Jackson, NAB General Manager of People and Organisational Development).

Graduate salaries

Graduate salaries have increased significantly over the last three years, and they continue to rise. Salaries for finance graduates vary depending on the industry. The 2008 AAGE Survey reported an increase of 5% in the salary for finance graduates for 2008 with a median starting salary of $55,000 compared to $52,000 in 2007.

Find out more

Australian Association of Graduate Employers (AAGE), www.aage.com.au

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