march 2009

GRADUATE JOBS +CAREERS ADVICE +SECTOR NEWS +CASE STUDIES +EMPLOYER PROFILES +

www.realworldmagazine.com » Rachel Riley: The New Face of Countdown

» Professional Qualifi cations

» Internships &Gap Year2009

COUNTDOWN

TO YOURCAREER

Accountancy and actuarial uncovered

Special postgrad study supplement

Get a great graduate job

MARCH

WIN A JOBFive paid summerplacements to be won

REALW.MAR09.COVER.indd 1 27/2/09 17:42:19

You’ll findthere’s moreto LIFEat KPMG.Quite simply, things are bigger here. There’s more of everything; moredevelopment, more ambition, more international opportunities and a lotmore work/life balance too.

So, whatever you want from LIFE, visit www.kpmg.co.uk/careers andfind out when we’re visiting your campus.

090209S5 297 x 210 9/2/09 11:44 Page 1

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EDITOR’S LETTER

Editor Dee Pilgrim • Senior Reporter Catherine Watson • Designer Yang OuSales Paul Wade, Harmesh Sansoa • Head of Online James Hasler • Online Consultant Fiona DaviesMarketing/Distribution Manager Francesca Keogh • Client Services Manager Marie TasleWebsite Brett Singer • Managing Director Darius Norell • Real World is a publication of Cherry Publishing: 22-26 Albert Embankment, London SE1 7TJ • Tel: 020 7735 4900, Editorial – 020 7735 2111 Fax: 020 7840 0443 • E-mail: [email protected] • Website: www.realworldmagazine.com Copyright © 2009 Cherry Publishing

RW

UP FRONT04 Reality Bytes Find out what

makes Rachel Riley, the new

face of Countdown tick, and

read some great career advice

from our top experts.

12 Real World Awards In our new

look awards you could win one

of fi ve summer placements and

a top prize of £5,000!

14 Staying out for the Summer Why summer placements,

internships, or even a gap year

break could be just what your

career needs during the

economic downturn.

POSTGRAD STUDY SPECIAL19 The Master Plan We take an

indepth look at what postgrad

study really entails and what it

can do for your career.

24 The Professional Approach How professional qualifi cations

can boost your work profi le and

potential earnings.

32 Moving into Law Switching to

Law as a postgraduate.

38 Head for Figures Could

Accountancy be the sector for

your future career?

44 The Future’s Bright Uncovering

the world of the actuary

48 Consultation process Do you

have what it takes to be a

management consultant?

IN THE NEXT ISSUE>> Coming up in our May issue we

take a look at the Public Sector

(including Social Care),

Engineering & IT, Retail, Sales

and Marketing (including

FMCG), and Careers Fairs.

ON THE COVER

CONTENTSMARCH 2009

No part of this publication may be reproduced or stored in a retrieval system without the written permission of the publisher. We cannot accept responsibility for unsolicited manuscripts and photographs or for material lost or damaged in the post. The views in this publication or on our website are not necessarily those held by the publisher.

Step into study

A s we were preparing this issue of Real World magazine for publication, a news story

came in about Durham University offering this year’s set of graduates scholarships

of £2,000 to stay on and undertake postgraduate courses. Durham is making the

move in order to help graduates who may struggle to fi nd employment in the current

economic climate, but also as a way to retain some of its brightest alumni. It just underlines

how important postgrad study is, which is why we have a special supplement on that very

subject in this issue. In it you can fi nd out why postgrad study is a real option – not just in a

downturn, but at any time -- helping to increase your employability, and adding to your skill

set. We also take a look at how studying for professional qualifi cations beyond

undergraduate level can give you the edge over other candidates.

Elsewhere we look at accountancy, actuarial and consultancy careers because

even though the City and banking have taken huge hits in the downturn, these areas

are so essential to the functioning of all levels of business and the economy, there will

always be jobs available. Wyn Mears, director of ACCA UK (the Association of

Chartered Certifi ed Accountants) remarks: ‘Despite the current global economic

climate, there are still opportunities for people to choose a career in accountancy.’ In

fact, forensic accounting is enjoying steady growth at present.

Finally, we have the most fantastic opportunity for fi ve Real World readers to win

coveted placements with Enterprise Rent-A-Car. If you’d like a taste of what the real

world of work is all about and the chance to win £5,000, then turn to pages 12 and 13

for all the details. if there’s anything you’d like to see in Real World drop me a line.

Dee Pilgrim, [email protected]

P32 P06

REALW.MAR09.ED_CONT.indd 3 27/2/09 17:44:07

news*views*advice*strategiesrealitybytes

4 RW WWW.REALWORLDMAGAZINE.COM

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Countdownto a new careerHaving once contemplated a career in marketing, Oxford graduate Rachel Riley has now landed her absolute dream job – as the new presenter of Channel 4’s Countdown.Rachel was educated at Southend

High School for Girls, but she’s anything

but a stereotypical blonde Essex girl.

Not only was she a straight A student

(maths, further maths, physics and

French) at school, but she also

excelled at sport (hockey, netball,

cross-country running and athletics),

proving that old adage you need a

well-rounded CV in order to shine.

After toying with the idea of going

into marketing after graduating from

Oriel College, Oxford, 22-year-old

Rachel decided to aim high and use her

undoubted numerical skills to secure the

role as number cruncher on Countdown.

‘This is the best graduate job in the

world,’ she said as she was announced

as Carol Vorderman’s replacement.

‘There’s only one cool maths job around

and I was lucky enough to get it!’

In fact, luck had nothing to do with it

as Rachel beat 1,000 applicants for the

position. What did help was the fact she

is totally focused and a huge Countdown

fan. For years she’s had the Countdown

theme tune as her mobile ringtone, and

in order to train for her interview and

audition she bought five Countdown

puzzle books doing over 500 number

games to focus her mind. ‘I’ve been a

fan of Countdown for as long as I can

remember and I always used to watch it

when I got home from school,’ she told

the Daily Mirror. ‘But never in a million

years did I think I’d get this job. It is pretty

daunting following Carol, but she sent me

a lovely bouquet of flowers when I got

the job and I was very appreciative.’

Rachel has now started her new

career on a reputed £100,000 salary

– not bad for her first job. She offers the

following advice to other graduates out

there who want to follow their dreams:

‘I am the type of person who just gets

on with whatever life throws at you. I

have a do-first, worry-later kind of

attitude. I am just going to be myself. I

just want to do my best.’

For greatadvice on how you can

countdown to your own successful

career, take a look at our replies to

readers’ letters with experts Alex Linley

and John Lees on pages six to 11.

Countdown is on Channel 4, Wednesdays at 3.25pm

REALW.MAR09.REALITYBYTES.indd 4 27/2/09 17:45:43

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Dear Real World: How to be the best possible you

Recently, Real World asked students to send in letters asking for advice on anything from their finances to their career dilemmas, and offering to find experts with the answers. In the first of our readers’ letters Alex Linley, Chartered Psychologist and Visiting Professor at the University of Leicester, tells one despondent young man how he can realise his full potential.

‘Dear Real World, I am getting so

depressed about my chances of getting

a job. Although I am on course to receive

a 2:1, all I hear every day on the news is

graduate recruitment is in dire straits…’

R.F. Nottingham

Dear Depressed of Nottingham University,

do not despair. Here is my advice on how

to be the best possible you and grab that

all important first graduate job…

there are three elements to being the

best possible you. First, be clear about

what you want and why you want it.

second, know what you bring to the table.

third, make your case as to why it should

be you.

be clear about what you want and

why you want it: Psychologists have

found that people who have more than


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Are you a smart woman looking for smart opportunities in recession?Are you keen to develop personally and professionally?

Special features include:Exclusive Inspirational Morning Boost, Woman2Woman Workshops, Image Consultations, Free Pensions Clinic, Free CV Reviews, Networking Opportunities, Competitions etc.

Find out about existing opportunities with top employersExplore working from home opportunities that will help you build income streamsLearn from inspirational and keynote female speakersMeet and network with other womenManage your career even in recessionDevelop skills that will support your personal and professional development

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RealitybytEsRB

one way of getting to their goals are

more likely to achieve those goals. It may

be that the goal of “being a graduate

trainee at one of the big Four” is actually

underpinned by a deeper sense of

“finding a job where I would be

respected, earn good money, and have

good career prospects.” When you

understand your goals in this deeper

sense, you can start to find that there

may be many more ways to achieve

them – many more jobs that would fit

your criteria – and not just one route to

success. If you want to identify strengths,

whether in yourself or in other people,

these are my top ten ways of doing so:

1 Childhood memories: What do you

remember doing as a child that you

still do now – but most likely much

better? strengths often have deep roots

from our early lives.

2 Energy: What activities give

you an energetic buzz when

you are doing them? these activities

are very likely calling

on your strengths.

3 Authenticity: When do you feel

most like the “real you”? the

chances are that you’ll be using

your strengths in some way.

4 Ease: see what activities come

naturally to you, and at which you

excel – sometimes, it seems,

‘See what activities come

naturally to you..and what motivates you. When you find

activities that you do simply for the

love of doing them, they are likely to be

working from your strengths ’

without even trying. these will likely be

your strengths.

5 Attention: see where you naturally

pay attention. you’re more likely

to focus on things that are playing

to your strengths.

6 Rapid learning: What are the

things that you have picked up

quickly, learning them almost

effortlessly? Rapid learning often

indicates an underlying strength.

7 Motivation: What motivates you?

When you find activities that you

do simply for the love of doing

them, they are likely to be working from

your strengths.

8 Voice: Monitor your tone of voice.

When you notice a shift in passion,

energy and engagement, you’re

probably talking about a strength.

9Words and phrases: Listen to the

words you use. When you’re

saying “I love to…” or “It’s just

great when….,” the chances are that it’s

a strength to which you’re referring.

10“to do” lists: Notice the things

that never make it on to your

“to do” list. the things that

always seem to get done often reveal an

underlying strength that means we never

need to be asked twice.

(Also available at www.cappeu.org/

TheOneShow.aspx )

Make your case as to why it should be

you: Degree classes rarely differentiate

among graduate candidates nowadays,

so you need to do more. spend time

working up your case as to why you have

applied for this role (based on your

career goals analysis) and why you

believe you are the right person for it

(based on your strength spotting) – and

most important of all – how you see the fit

between what the organisation is looking

for and what you bring. If you can’t see

that fit, it’s time to go back to the

beginning and think again.

Average to A+: Realising Strengths in Yourself and Others, by Alex Linley, is available from www.amazon.co.uk

Alex Linley at the Centre for Applied Positive Psychology – www.cappeu.org Ill

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Dear Real World,

I’m a history student, going to graduate

this year and I’m really worried about

getting a job. I know I could go into

teaching, but I’m not sure that’s what I

really want to do. I’m considering taking

the first job I’m offered and then letting

my career steer its own course from

there. In the current economic climate is

this a good idea? C. J. Birmingham

John Replies:Dear C.J.,

For the best part of a decade many

graduates have been taking the first

position they have been offered because

it has been such a competitive market.

but to take the first thing that comes along

is always a weak strategy because it is

entirely passive. People get panicked into

passive behaviour. Panic is never going to

help because it is always going to inform

your message. I have strong reservations

about people who go into teaching just to

hide while the storm is going on because I

don’t think it plays very well later on in

their careers. Instead, think about

matching your skills with the range of

opportunities available. that means

starting to understand what it is you have

to offer, and understanding what

organisations are really looking for.

Graduates are not good at tracking

their long-term career prospects. this is

quite a serious point because what they

tend to do is a sort of disorganised drifting

and they use the first five or ten years of

their working career as a kind of

experiment. When the market is

abundant, you can do that. but because

everything has now got tighter they have

to have better strategies for finding jobs,

and they need to make better decisions

about their pathways. For some people

this recession will actually be a positive

because it will require them to have a

more proactive approach. Unfortunately,

The big driftHere top career coach John Lees gives solutions for ‘Graduate Drift’.

for a lot of people it provides a fantastic

excuse for more drifting! However, the

time when you have maximum economic

and geographic flexibility (before you buy

a house, or start a family and get tied

down with school provision) is the time to

make the best career choices.

Get objective feedbackIt is only possible to do this if you get really

objective feedback. Recruitment

consultants don’t give objective

feedback, they are too busy. the most

obvious but relatively untapped source is

to find people who have been in your

position and now do have the job they

really wanted. Alumni organisations are

really good at helping to track down

these people, but from my experience

the number of students who actually do

that and actively go and talk to two or

three people is very small. In fact, it’s

surprising the number of people who do

not use their tutors or alumni networks to

get feedback. you’ll find librarians at

professional bodies are very helpful also,

and great sources of information.

Do some work experienceWork experience opportunities are also

great ways to see if something is really for

you. Firms working in competitive markets

like PR or marketing do take people on

short voluntary placements and they

really do allow you to do a bit of

sampling, which is far less dangerous than

just taking the first job that comes along.

Quite a high proportion (of these

opportunities) lead to job offers and at

least they put you in the right world.

Be proactiveI’d also say be proactive and make

direct contact with companies or

organisations you would like to work for

even if they are not effectively hiring. A

significant number –nationally about 12

or 15 per cent -- of roles are filled by

candidates approaching firms direct

and a lot of organisations have space

in their budget to risk hiring someone

on spec like that. It’s a no brainer

later on in life and much more

effective than simply registering on

recruitment databases.

Reassess what you wantWhen you do have a job in tough

times the danger is to just hang on to

it and start under-performing. that

doesn’t draw out positives from the

role itself; if you use the role simply as

a piece of wreckage to cling to, you

are probably not adding a lot of

value to your role or to your firm.

People should reassess what they are

doing every 18 months simply

because of the pace of change in

the world of work. so, these are the

big questions you must keep asking

yourself: where am I in my learning

curve; what am I learning; what’s

exciting; what’s out there?

John Lees is a leading British career coach and author of the best-selling books, How to Get a Job You’ll Love, Take Control of Your Career, and Why You? CV Messages to Win Jobs.

‘ For some people this recession will actually be a positive because it will force them to have a more proactive approach. ’

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»

WE HAVE FIVE SUMMER JOBS AND £5,000 UP FOR GRABS IN THIS YEAR'S FANTASTICCOMPETITION

»

Every year Real World likes to celebrate the most talented graduates around with our Real World Awards. This year, in collaboration with Enterprise Rent-A-Car, we’ve taken the Awards one step further and are not only offering a cash prize of up to £5,000, but also the chance for fi ve graduates to gain a coveted summer internship. That’s right, you could win a job with Enterprise and some much needed cash!

Enterprise Rent-A-Car's highly regarded Internship Programme is an amazing career opportunity in a tough job market. You get hands-on experience from day one learning about sales, marketing, customer service, and business management. It’s a great way to see how you like working with them while gaining valuable experience that can take pride of place on your CV. Even better, you’ll get paid for the privilege, and if you impress them, then there’s a good chance you could become a permanent fi xture.

Entering couldn’t be easier as this year there is only one category: Enterprising Graduate Of The Year. Any student in any year (including fi nal) can apply and we want you to tell us what you’ve done at university that demonstrates your entrepreneurship potential. This can include work experience, participation in clubs, organisations or sport, community activities, and classroom projects. The internships will last between eight and 12 weeks and will take place during summer 2009, at any of Enterprise’s 340 plus locations around the UK.

REALW.MAR09.RWA09.indd 12 27/2/09 18:29:22


So, here’s the chance you’ve been waiting for. Opportunity knocks, but do you have what it takes? If you think you do then we want to hear from you!

WE'RE REWARDING ENTERPRISING STUDENTS SO GET CLICKING

WHAT'S YOUR DEFINITION OF AN ENTREPRENEUR?

Sponsored By

To enter, register on www.realworldmagazine.com and follow the link to Real World Awards, and answer five simple questions. Entry is open from March 9th and closes on June 30th, 2009 with one internship being awarded every month, while the cash prize will be awarded in September. Terms and conditions online.

Last year, Jonathan Francis from Nottingham University won £3,000 as our Entrepreneur of the Year after starting his fi rst business when he was just 14 years old. He says an entrepreneur has to have the ability to spot the potential of great business concepts and be very good at analysing risk. Meanwhile, Joint Runner-up, Gillian Ferguson won £1,000 for her social enterprise and says creativity is at the heart of everything she does, and our other Joint Runner-up, Timothy Ngwena, urges would-be entrepreneurs to: ‘take every opportunity that presents itself, because you never know when those chances are going to come.’

REALW.MAR09.RWA09.indd 13 27/2/09 18:29:38

STAYING OUT FOR THE SUMMERIf you are desperate to get some experience of the world of work, but think getting a job straight after university is going to be nigh on impossible, then why not consider doing a summer placement or internship, or getting some experience abroad? Edward Thompson explores the possibilities.

REALW.MAR09.GAPYEAR.indd 14 27/2/09 17:48:40

RWPLACEMENTS AND GAP YEAR | OVERVIEW


STAYING OUT FOR THE SUMMER

ou can’t have failed to notice that getting

a graduate position has got much harder

of late. Universities’ Secretary John

Denham’s response is a ‘national internship

scheme’, which he is putting together with

leading employers in the private and

public sectors.

So far four major fi rms, including Microsoft and Barclays, have

pledged to take graduates who cannot fi nd jobs and train them

for short periods of up to three months, and Mr Denham is urging

other fi rms to join the scheme. He says: ‘At the end, the

graduates will be more employable, and some of them will get

jobs. Employers won’t want to let good people go.’

In fact, many large fi rms already run their own internship or

work experience schemes, as does the European Union and

many British government departments. Lara Green completed

an internship with the Department for Children, Schools and

Families last year. She says: ‘The Civil Service Fast Stream

Diversity internship Programme provided an opportunity to

network with other interns and gave a broader overview as to

the different opportunities on offer. I found the workshop

particularly helpful as we were given an opportunity to develop

skills for assessment centres which is both useful for applying for

careers in the Civil Service, but more broadly for graduate

jobs.’ Leah Noel was an intern in 2007. ‘Being on the Diversity

Internship Programme has given me a real insight into the Civil

Service,’ she says. ‘My job challenged me on many occasions

- it helped me to identify my strengths and has given me a real

incentive to apply for the Fast Stream programme.’

Many universities are now positively encouraging students

to try internships. For example, The University of Leicester is

launching a new Internship programme – a package of paid

placements for new, 2009 Graduates. The programme will

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Yprovide a talent pool for

business and industry with graduates gaining

valuable work experience within the University. Another

increasing trend is for there to be some form of placement

actually within degree programmes. Mike Wright is Associate

Dean for Undergraduate Studies at Lancaster Management

School. He explains how this can be benefi cial both for the

students and the employers. ‘The experiences students gain

during their placements enhance their skills and

understanding, help bring theory to life, and crystallise their job

aspirations,’ he says. ‘Many students develop massively

improved self-confi dence and earn good money while doing

so. It has also been demonstrated without question that this

experience makes students much more attractive to

employers, enabling them to jump the queue for job

interviews, and in many cases even secure a role with their

placement organisation upon graduation.’

‘Employers also benefi t from taking placement students, as

they get to check out promising talent at relatively low cost and

with only a year’s commitment. It is therefore unsurprising that

placement opportunities are still fairly plentiful even in the

current economic climate.’

BROADENING YOUR HORIZONSAnother option many graduates are considering is taking a gap

year between university and starting work. Callum Kennedy,

Managing Director of BUNAC, says: ‘With the current downturn

in graduate positions available to recent university students,

taking a gap year or a summer placement abroad is an

increasingly popular option. Finding work experience overseas

has always provided a wealth of benefi ts to any young job

seeker in even the best of economic climates; however, recent

graduates now fi nd themselves with a timely opportunity to

escape the recession, internationalise their CV, and build on

their life skills which will be invaluable once the job hunt is back

on.’ However, graduate recruitment specialist TMP Worldwide,

has recently conducted a survey that reveals 13 per cent of

students who have taken gap years said they didn’t discuss gap

year experiences in interviews. Why bother to get the

experience if you are not going to talk about it? Beth Lorraine, a

recruitment consultant from Star recruitment states: ‘Having gap

year experience makes graduates stand head and shoulders » »


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10.3

0am

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00pm

over 150 exhibitors from a wide variety of sectors, offering graduate jobs both locally and nationally for 2009

some exhibitors offer places on postgraduate courses free entry, free careers advice and free Fair Guide free coach to the fair from Piccadilly train station

In association with Organised by the MLP Careers & Employability Division

Part of the Universities' National Summer Fairs Programme

Graduates from any university welcomeMore exhibitors than any other UK graduate jobs fairDIFFERENT EXHIBITORS EACH DAY – ATTEND BOTH DAYS

www.manchester.ac.uk/careers/graduatefairor tel: 0161 275 2828

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with BUNACBUNAC’s Work America programme allows you to spend the

summer working and travelling in the USA. BUNAC arranges visas,

flights, insurance and provides job hunting advice and listings.

To find out more or to apply online, visit the BUNAC website.

For more information visit

work america

Take virtually any job, anywhere in America -

can be casual or more career-related employment

Meet other participants on a BUNAC group flight to

New York City

Full BUNAC support in the UK and in the USA

Open to UK university students including final years

020 [email protected]/realworld

Realworld Mar09 12/2/09 11:19 AM Page 1

Are you looking for graduate workexperience?

Go towww.realworldmagazine.com

Look under ‘Work Experience’ for• latest jobs• employer profi les• graduate case studies• advice


SMALL_Ads.indd 7 2/3/09 10:44:01

above other candidates, but most CVs

lack clear definition of why a skill would

benefit a business.’ Beth goes on to say:

‘You must always tailor your CV.

Remember that the CV gets you an

interview, the interview gets you the job!’

Shout about it!Keeping a good journal during your trip

will help you reflect. Then you can identify

times when you actually had practice

doing the things employers look for. Note

dates, names, places and write about

anything you found physically,

emotionally or mentally difficult – these

are the nuggets you need to squeeze

into your CV and discuss confidently in

your interviews.

When You’re back…When you return from your time abroad,

take a couple of hours to reflect on the

experiences you’ve recorded in your

journal and update your CV. A common

mistake with CVs is using bland, non-

specific language. ‘I showed my

leadership skills’ is dull and worsened by

unnecessary adjectives: ‘I showed my

excellent leadership skills’. Instead, be

more precise with your language to focus

on the actual things you did: Leadership

comprises different skills that will make

more impact individually including

delegating, decision making, motivating

and supporting others, and setting

objectives. ‘Communications skills’ is

another commonly overused term, so

bring it to life by breaking it down into

writing, face-to-face and telephone skills,

presenting information, and listening.

placementS up for grabS…Currently, Lattitude Global Volunteering

has up to 14, fully-funded volunteer

placements to fill before the summer. To

qualify for a funded place, applicants

must be able to demonstrate why it is

harder for them to afford a Lattitude

placement. For more information visit

www.lattitude.org.uk

Meanwhile, Real World has got

together with Enterprise Rent-A-Car to

offer five summer placements to five

Real World readers in our fabulous

competition. Read all about it and how

you can enter and win on pages 12

and 13 of this issue!

WWW.REALWORLDMAGAZINE.COM rW 17

gap Year | CAsE sTuDY rW

‘i think travelling makes you a lot more independent, broad-minded, and an expert at meeting new people.’

David Bowkerage: 22Degree and university: loughborough university, geography and Sport and leisure managementWork experience: Summer camp uSa and Work australia, bunac

reasons for doing work experience? i really wanted a break from my studies as i knew that if i went to university straight after college the same cycle of constant exams and work would continue. i had always wanted to travel and see the world and just do something completely different.

reasons for choosing placement? i had always wanted to see australia, mainly because of neighbours! i knew i’d have to spend an extended period of time there in order to fit in everything i wanted to do and see. i did a lot of research and decided to go with bunac on their Work australia programme. going with an organisation is something i would highly recommend as bunac took care of all the administrative aspects, including my visa and flights. most importantly bunac arranged a group flight via hong kong where i spent three days sightseeing. there were 30 people on the group flight and i ended up travelling with a few of them for the whole seven months.

i enjoyed working and travelling in australia, and the greater understanding of local culture it gave me, so much so that i decided to work on an american summer camp in between my years at university. i couldn’t stand the thought of a mundane job in the uk and i didn’t want to waste three months doing nothing, so bunac’s Summer camp uSa seemed like a cost effective way of seeing the u.S, with nine weeks at camp and then the opportunity to spend my hard-earned money on four weeks of travel around the States.

tasks carried out during work experience? in australia i lived the dream for seven months, surfing, sky diving, bungee jumping, scuba-diving, visiting ramsey Street, and loads more. i also took on various jobs along the way to supplement what i had already saved up before leaving the uk. iep, bunac’s sister organisation in australia, helped me find jobs doing charity work, fruit picking, and even working as an extra on australian tV!

at summer camp in america i worked as a general counsellor, which meant that i was directly responsible for 10 boys over a period of eight weeks. i also helped out with coaching football and waterskiing - something which i had done before camp started. camp life was challenging but really enjoyable and diverse. i did everything from performing in talent shows, helping out with arts and crafts classes, to organising out-of-camp trips.

impact on career progression? in the future i would really like to own my own chain of hostels all over the world. When i worked at

camp i developed a number of transferable skills, such as communication, organisational and people skills that i can now use and will develop in the future.

highlights? the biggest highlight in australia was driving up the east coast in a camper van. it gave us a chance to explore this amazing country and the freedom to find our own paradise beaches that weren’t necessarily on the backpacker map. i also learned to scuba dive and had an amazing experience diving on the great barrier reef.

at camp, the biggest highlights for me were our weekly campfires and talent shows where we’d have to make up skits and songs and dances with the campers and other counsellors. i also love the fact that as well as being the responsible adult, i was also allowed to act like a kid for a lot of the time. after camp we were invited to stay with a few of the american counsellors, so we went to new York city, texas and florida, and were able to experience the ‘real’ america which was so much fun.

Downsides? it is never easy being away from home for an extended period of time, although it is something i got used to pretty quickly. i also found waking up early a bit of a downside - both fruit picking in australia and getting the kids up and out of bed at camp; but again, once i got into the routine it was no problem. the only other downside at camp was when the kids were better than me at an activity - i had to swallow my pride and ask them to teach me!

personal gains? i think travelling makes you a lot more independent, broad-minded and an »



placements | CAsE stuDIEsRW

‘you need enthusiasm to get involved in everything, and an eagerness to learn.’

Anna Smyth

Tristan Nesbitt

Degree and University: law, Downing college, cambridgetype of work experience: 3 week summer vacation scheme at allen & Overy.

Why did you decide to do work experience? Having considered various careers in the legal profession, I felt the only way to get a real flavour for what working in a big corporate law firm would be like was to do a vacation scheme.

What did you actually do? typically, when we arrived in the morning, a lovely breakfast and coffee would be provided and there would be a relaxed talk from one of the specialist departments, such as banking law, real estate, or employment law about the kind of work that goes on in their departments.

We would then shadow a trainee solicitor in a department that we had asked to sit in. I sat in dispute resolution for half the scheme and in a department dealing with shares and bonds for the rest. typical tasks would be: conducting research - I had to research into the law on dangerous dogs and some aspects of human rights law - and making amendments to contracts as well as checking contracts for errors.

We also had a team project to work on with the other students on the vacation scheme. this involved preparing a presentation to be used in a pitch for a client. this is when the law firm competes with other law firms to win the business of a particular client. this involved research into allen & Overy’s strengths, in particular practice areas as well as into its overseas offices.

expert at meeting new people! I came back home with loads of different stories to tell and now feel that I am a more rounded and interesting person than before I worked abroad. I also met some amazing people that I wouldn’t have met otherwise and have a great international network of friends who I know I’ll be visiting in years to come. travelling also gave me the opportunity to try out things I would never have done otherwise, and the transferable skills that I developed will be invaluable on my cV.

twice a week there would be a social event with the trainees. these were great fun and involved a great deal of free food and the occasional glass of wine! activities included a cruise along the thames and a trip to the West end. the evenings also provided the perfect opportunity to chat informally to the trainees about their own experience of the firm.

What do you need to make a success out of work experience? enthusiasm to get involved in everything, and an eagerness to learn. also an ability to maintain professionalism at all times while making sure you enjoy the experience.

age: 34 Degree and University: Hispanic studies – Bristol University – Ba HonsInternational Hotel management – Oxford Brookes University - msc

Graduate placement scheme: Vita Futura – starwood Hotels & Resorts, europe, middle east and africa. Vita Futura is starwood's graduate management programme. It provides trainees with a unique insight into the world of hospitality and offers the chance to be actively involved in the management of the departments you work in. For further information visit www.starwoodvitafutura.com

Reasons for doing graduate scheme: I knew I wanted to go into the hotel business but wasn’t sure which area to specialise in so I was looking for a fast-track route to experience as many departments as possible in order to identify which path to follow.

the Vita Futura scheme enables graduates to spend time in a variety of different hotel departments getting a feel for which ones they enjoy before having to make their mind up on an area to specialise in. this gives you an ideal grounding for a career in the hotel business as you are able to understand how each department operates without having to start at the very beginning.

Which placements did you choose and why? I chose two specific departments, Food and Beverage, and Rooms Division, and had a number of placements within those departments. I already had background in restaurants and kitchens but I wanted to

expand my knowledge into Hotel F&B and learn about the Rooms side to broaden my experience. I then choose to go into sales as I believed I would be best equipped to become a General manager if I fully understand how to control and attract revenues and drive specific business segments into the hotel.

tasks carried out during placements? the majority of my placements within F&B and Rooms were purely operational with roles including guest services, cleaning rooms, stewarding and working in the kitchens. this provided me with a fantastic insight into the operational challenges of hotel, and how the different departments function together.

Impact on career progression? Doing the Vita Futura programme has without doubt speeded up my career progression within starwood Hotels & Resorts. I was able to gain valuable experience in a number of different departments quickly and effectively, and I wouldn’t be in the position I am in now without having done the programme – it was definitely the best thing to do to start off my career.

Highlights - Working with the sales team at the sheraton Heathrow. Heathrow is a very competitive marketplace for hotels and definitely the best place to learn about hotel sales.

- Working with the middle east market for starwood’s central london hotels. I learnt a huge amount about the middle eastern culture, travelled to many interesting places, and developed some fabulous relationships.

- moving to madrid and working at the Westin palace. this was a huge challenge for me, I needed to adapt to the culture and way of working in this hotel but I loved every minute of it.

Qualities needed to succeed at placement?You need to have the desire to work in the hotel industry and a strong direction so you can see how all the placements you do will influence your final goal. adaptable social skills are also a must. You need to have the ability to adapt one’s style to work with everyone at the hotel at all levels, from the operational staff to the senior Vice president. n


GRADUATE JOBS +CAREERS ADVICE +SECTOR NEWS +CASE STUDIES +EMPLOYER PROFILES +

www.realworldmagazine.com » Law» Professional Qualifi cations

» Research degrees

» Taught postgraduate2009


STUDYSPECIALPostgrad study supplement

REALW.MAR09.SUP_COVER.indd 1 27/2/09 17:50:27


POSTGRADUATE STUDYIf you’re still working hard for your first

degree, probably the last thing you want

to contemplate is postgraduate study.

However, in unsure financial times,

continuing your academic life can

actually serve many purposes. For a start,

doing some forms of postgrad study will

mean deferring your entry into the

market place – hopefully to a time when

the economy is in a better state and

recruitment is healthier. In some sectors

(i.e. law, teaching and academia) further

study is actually a pre-requisite for entry,

while in other professional sectors

studying for professional qualifications

while working is the recognised path to

career advancement. Whatever you

decide to study at postgraduate level it

will give you the extra edge today’s

employers are looking for. A decade

The Master Plan

REALW.MAR09.SUP_INTRO.indd 20 27/2/09 17:51:06

RWpostgRaduate study | overview

www.reALworLDMAGAZiNe.CoM RW 21

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ago, 100,000 students enrolled on

postgraduate programmes. Today the

figure is over 550,000 or one in four of the

higher education student population.

with the graduate labour market

becoming increasingly crowded, it

makes sense to go one further and get

even more qualifications. Chris rea,

managing editor at Higher education

Careers Service Unit (CSU), comments:

‘The most important reason is

employability. with the increase in the

number of first degree holders, an

additional qualification can differentiate

applicants in the job market.’

According to the National Survey of

Postgraduate Funding and Priorities,

carried out by the National Postgraduate

Committee (NPC), the majority of

students wanted to go into postgraduate

study to improve their career prospects,

and to continue studying. Part-time

students were more likely to go into

postgraduate study for personal

development than those studying

full-time. The majority of respondents

planned to go into work that was related

to their subject area, either academic

research or teaching, or outside higher

education. 86 per cent of respondents

felt that the money they had invested in

postgraduate study would be a good

investment in their future.

tHe optIoNsThe four main types of postgraduate

qualification are postgraduate

certificates (such as the one-year

Postgraduate Certificate in education --

PGCe), postgraduate diplomas, masters

degrees, and doctorates. Most people

studying to postgrad level do so in the

same discipline as their first degree.

However, if you are thinking about

changing careers then a postgrad

qualification in a different area may be

of more use to you. You should be aware

that most courses will ask for a 2:2 or 2:1

because of the intensity of the study. The

type of qualification you take will depend

on what you want to do career-wise. For

instance, many people interested in

health and medicine take research-

based courses in order to gain a really

deep understanding of their chosen

area. in fact, postgraduate medical

research is becoming increasingly

important as it covers everything from

trying to find a cure for cancer, to how to

stop the ageing process. in areas such as

engineering and accountancy, taking

professional qualifications up to

chartered status is the recognised route

to career progression.

FuNdINgonce you’ve decided what type of

postgraduate qualification you are

going to take, then you need to think

about how you are going to fund it.

Chris rea explains: ‘There is no central

source of information or standard »



RW

application. It is up to the student to

approach as many relevant funding

providers as possible.’ According to the

NPC research just over a half of

respondents described their funding as

‘not sufficient’. The main factor which

affected this perception was whether

students paid tuition fees or not. 74 per

cent of those who paid their own tuition

fees described their funding as

insufficient, compared with only 28 per

cent of those who did not pay their

own tuition fees.

The majority of postgraduate students

study part-time for their qualifications

while actually working, with their

employers paying the costs of the fees or

providing loans to cover them. However,

another important source of

postgraduate funding is the government-

funded postgraduate and doctoral

awards. There are six Research Councils

and the Arts and Humanities Research

Board (which is soon to become a

research council). The Research Councils

invest £2.8 billion a year into

postgraduate study. Between them they

provide over 10,000 studentships every

year, which pay tuition fees plus

maintenance grants of up to £10,750. It is

easier to obtain funding in the science

and engineering disciplines than in arts

and social sciences. There are also

research and graduate teaching

assistant positions, whereby

postgraduates receive direct payment or

the waiving of fees in return for

undertaking teaching or research duties.

PROFESSIONAL QUALIFICATIONSIf you are going to take professional

qualifications you need to ensure you

are studying a properly accredited

course, and you should check directly

with the relevant governing professional

body which can provide lists of these

courses. Much of what you learn is

practical and hands-on, which

increases your competency and brings

you added value as an employee. The

very fact you commit to doing

postgraduate study in your chosen

profession shows you are serious about

CPD and progressing, which can lead

to promotion and an increase in salary.

Courses can last as little as one year

(the PGCE and the Legal Practice

Course, LPC, if taken full-time), whereas

studying up to chartered level takes

several years, but will definitely improve

your employability.

For more information on professional

quallifications go to page 24. For case

studies with postgrad students go to

page 26, or click onto www.realworldmagazine.com n

POSTGRADUATE RESOURCESwww.ahrc.ac.uk The Arts and Humanities Research Council

funds research on a very wide variety of

subjects from traditional humanities to

creative and performing arts.

www.rcuk.ac.uk The Research Councils provide over

10,000 studentships a year for academic

disciplines ranging from medicine to

economics, astronomy and the arts.

www.graduatejunction.com This is a new website providing masters,

doctoral and postdoctoral researchers

working in any field all over the world

with an easy way of making contact,

and communicating with other

researchers who share their research

interests no matter which department,

institution or country they work in.

www.npc.org.ukThe National Postgraduate Committee’s

(NPC) mission is to advance the

education of postgraduate students

within the United Kingdom. It achieves

this by democratically representing

postgraduates, contributing to

discussions, and facilitating

communication between stakeholders.

POSTGRADUATE NUMBERS FOR 2006/7Total number of people studying postgraduate 559,390• Full-time 243,070• Part-time 316,320• Enrolments increased 3 per cent

between 05/06 and 06/07 • Number of students receiving

postgraduate qualifications 2006/7 in total 202,225

• PGCE 28,375 (14 per cent)• Research programmes 21,135 (10

per cent)• Taught programmes not PGCE

152,720 (76 per cent)In the same period there were 75,205 postgraduate students obtaining qualifications from non-uk countries.

POSTGRADUATE STUDy


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postgRaduate study | pROfEssIONAL quALIfICAtIONsRW

P rofessional qualifications – up to

and including chartered status –

not only show employers you are

fully committed to your career but can

also increase your salary. According to a

recent report carried out on behalf of the

Consultative Committee for professional

Management Organisations * (CCpMO,

made up of eight leading professional

bodies) the estimated lifetime economic

benefit associated with holding

professional qualifications and

membership of a professional institute is

approximately £152,000. Also,

individuals undertaking professional

qualifications become highly skilled,

especially in management and

business terms. these skills are required

in all aspects of the economy, so

individuals who possess them have the

opportunity to move between sectors,

giving them a high degree of flexibility

in their careers.

the benefits also extend to employers

The Professional Approach

There are plenty of reasons why studying for postgrad professional qualifications is a very good idea – not least the boost it can give to your earnings.

who place a high value on the skills

provided by professional bodies.

professional qualifications are designed,

and continually reviewed, to ensure

they are up-to-date and relevant to

employers’ needs. Many of these

qualifications count as part of an

individual’s continuing professional

development (CpD).

Amanda O’Brien is the Education

Director for CIps (Chartered Institute of

purchasing & supply – part of CCpMO),

and says: ‘Many graduates still don’t

appreciate just how important

professional qualifications are. Because

of this CIps has introduced a scheme

giving free membership to graduates

and postgrad students at any university

where their programme has been

accredited by CIps so they understand

the value it can add when they go into

their career. Many graduates leave uni

with good degrees but have no real

business sense because they have

never needed to use it in the context of

an actual job. When they are a

member of a professional body they

can go to branch events and actually

mix with business people out there in

the world of work, so they can relate

what they have learned on an

academic level to the business level,

giving them confidence. Graduates

tend to have this thirst for information

and if professional bodies are presented

in a way that doesn’t seem elitist, but

incredibly accessible to everybody,

then membership will appeal to them.’

HoW to studyDelivery of the qualifications is flexible,

with learners able to undertake courses

full-time or part-time through private and

public sector colleges. However,

classroom study is the most common

method of learning, with the majority of

learners engaged in part-time study while

working for their employer. 85 per cent of

CMI students are engaged in full-time

employment, while the corresponding

figure for CIpD is 90 per cent. In the case

of CIMA and CIps, practically all learners

in the uK are employed while

undertaking their studies (and many

employers may actually pay their

employees’ membership fees).

In addition to the provision of these

core qualifications, the professional

bodies also contribute to the education

and training of their members in several

other ways. Existing members are

provided with a range of continuing

professional development and best

practice tools to allow them to develop

their skills further. Members also have

access to the professional bodies’ labour

market and research information, training

courses, seminars and other events. n

* An Economic Impact Assessment of

the CCPMO, carried out by London

Economics.


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postgRaduate study | CAsE stuDIEsRW

‘being part of a professional organisation gives you great networking opportunities.’

Tilly Harvey-GodfreyJames Bentallage: 40 degree and university: 1st degree – geography, Ba (Hons) 1st Class, Cambridge university, 1988 – 1991. 2nd degree – political/development economics, Cambridge university, 1991 – 1996.3rd degree – MBa, Cranfield university, 2008 – 2009.professional Qualification – associate, Chartered Insurance Institute (CII), 1999.

did you come into postgrad study straight after your degree? after my first degree at Cambridge I went straight into studying for my phd, yes. However, I then worked in the insurance industry for 12 years before doing my MBa.

Why did you decide to continue yur studies? I wanted to change industry sectors after 12 years in insurance and felt that an MBa offered a credible way to do so.

How did you fund your study? With my savings plus a Cranfield scholarship. also, my wife works full-time as a group Financial director.

How is post-grad study different from undergraduate study? the sheer intensity of the course and workload. Compared with an undergraduate degree, the pressure is far more intense. you do the same volume of work as for a three-year undergrad degree but packed into 11 months. the standard of teaching and ancillary study is very high, but it sometimes feels like sitting down for a seven course, Michelin starred meal, and being told that you have to finish it in half an hour.

How do you think popstgrad study will further your career? It should make me a more attractive prospect for employers beyond my immediate sector.

do you have any advice for students considering postgraduate study? understand the level of commitment and be clear what you want to get out of the study. Having said that, some study is an end in itself, and you should remain flexible about your goals.

age: 29degree and university: university of West of england, Visual Communicationprofessional qualifications: MCIps (Member of the Chartered Institute of purchasing & supply)Job title: Consultancy sourcing Manager.

tilly was the recipient of the young professional of the year title in the CIps supply Management awards, 2008 Were you always interested in purchasing & supply as a career? I fell into purchasing by accident when I joined a large retail organisation as a merchandise assistant. I enjoyed the interaction with different suppliers and how negotiation strategies worked, so I applied for a job as a buyer within the utility industry looking after Business services and telecoms contracts. this involved a lot of tactical buying (such as negotiating the best cost and supplier evaluations). after four years I joined aXa uK as a Category Manager to focus on Consultancy spend strategy, which is the most interesting part of purchasing for me. What do you actually do in your job? I focus on the external Consultancy spend in my organisation and look at ways we can bring cost savings, innovation, and value add back to the business from our suppliers. In Financial services there are many different factors which can affect the organisation, and we need to react quickly to compensate for this. By engaging with Consultancies in the correct way we can assist the organisation in remaining ahead of its competitors, and also generate savings. What do you most like about what you do? you are always learning something new. In an environment where there are constantly changing conditions (e.g. external, internal, economic conditions) your strategic focus will need to change to adapt to this. every day will present a new challenge in bringing cost savings to the business. you will also be required to get involved in many different pieces of work – in my career so far I’ve

sourced everything from multi-million pound cost reduction pieces, to bulk quantities of pepper spray to ward off stray dogs!

Why did you decide to study for professional qualifications? My original managers all had their own styles regarding elements of purchasing, and although it was a great platform for learning about different scenarios, I felt there was a lot more to the theory and principles surrounding good purchasing practice. CIps offered foundation and professional modules which meant I could learn good fundamental basics, and then choose options which would help further my career (such as Leading & Influencing, and International purchasing). What do you think being a member of CIps has done for you as far as furthering your career? It’s helped for several reasons. It’s a great platform for networking, case studies are readily available to members which can greatly assist you in your role, the course content of the modules are theories which can be put into practice, and there is also an offering of ‘Continuing professional development’ which remains throughout your working career to assist you. Would you recommend joining a professional body to other people? yes. Being part of an organisation gives you great networking opportunities and the ability to converse with others in the same profession as yourself. there are many different organisations that have multiple synergies within the purchase and supply chain, and it is good to learn new skills, best practice, and to also see what your fellow companions are up to. How do you see your career progressing? My goal one day is to become a Cpo (Chief procurement officer) of a large organisation. skills and knowledge within procurement are very transferable, and I think purchasing in the current climate is a really exciting place to be, with cost reduction being at the forefront of everyone’s minds, especially in today’s environment. Can you go any further within the CIps qualification hierarchy? I hope one day to find time to do a Msc qualification in strategic procurement. there is also a further grade of membership which is rewarded as recognition of professional achievements and

REALW.MAR09.SUP_CS.indd 26 27/2/09 17:54:01


postgRaduate study | CAsE stuDIEs RW

‘even if i change direction completely, i will still have my bsc to fall back on.’

Emily Guilmant

Jai Matharu

age: 29degree(s) and university: Currently completing Bsc (Hons) professional practice: Children’s Nursing at London south Bank university (LsBu).

did you come into postgrad study straight from being an undergraduate? No, I became a nurse after completing my dip He Nursing studies (Children’s) at London south Bank university (LsBu) nine years ago. I then worked in the NHs and around the world for four years before returning to London, so there was a gap between my studies which allowed me to consolidate my training and gain experience – which was invaluable to my postgraduate studies.

Why did you decide to continue your studies? as part of my appraisal my mentor suggested that I begin to undertake my Bsc, both to further my own knowledge and my career, as more senior nursing positions require a minimum of a Bsc, and most suggest working towards an Msc. also as part of my nursing registration I must be able to demonstrate updating of skills and knowledge – and this suited all my needs.

How did you fund your postgrad study? I have been lucky enough to be sponsored by the NHs trusts I was working in who paid my course fees and also allowed me some study leave. I could not have undertaken the studies financially and while holding down a full-time job otherwise.

How is it different from undergraduate study? I have combined my study with my full-time nursing career this time round, whereas before I had set times in university and on nursing placements, so my work/life balance has suffered a bit. However, this hasn’t been as intensive as my dip He, as I can take my time (I’ve spread my Bsc over five years). also, it’s been more interesting as my Bsc has been my choice to undertake, and I have chosen its

contents – so I’ve chosen topics that were of interest and relevance to my area of practice.

How do you think your postgrad study will help your career? I hope to progress further up the career ladder, but even if I change direction completely, I will still have my Bsc to fall back on, and develop if necessary.

do you have any advice for students considering postgrad study? Make sure you really want to do it – it requires commitment of time and energy – if you are not that interested you’re wasting your own time and money. also, make sure it is the right time for you – planning weddings, births and other commitments puts real strain on your time and commitment, and could spoil the end results.

age: 25university and degree: university College London, phd Chemistry

What is the title of the course you are studying? the proposed title of my thesis was ‘single Molecule Vibrational spectroscopy of Molecules on oxide surfaces’, but seeing as none of the equipment has been working it will be something more like ‘Catalytic Behaviour of thin Film Metal oxide systems’.

What interested you about this field? I enjoyed the practical lab-based components of my undergraduate degree course. I suppose I was drawn to the area of catalysis because it has a directly discernable link to industry and technology. For instance, a lot of my course has focused on a similar system to that found in catalytic converters (found on all modern car exhausts). I like to be able to see how what I am studying can be used in the real world.

I also spent part of my Masters course doing a research project on novel materials and enjoy the challenge of making new nanomaterials tailor-made for a particular purpose. although my current work is with established materials, it is through their modification that I can continue this interest.

What do you see yourself doing with the phd afterwards? I have a number of ideas! Ideally I would like to stay in science but I see myself away from university, having spent seven years in further education. I am attracted to the materials industry and would quite like to work in research and

development. I have some work experience in a medical environment and I’m really interested in the production of new materials for medical use.

I feel strongly about the environment so I’ve also considered going into the energy sector. In particular I would like to be involved in the development of viable alternative energy production (solar, hydrogen fuel cells, wind).

throughout my education I’ve been quite interested in getting into teaching and have already been involved in some tutoring at various levels. tying into my concern over the environment I feel that there is a lot of disinformation relating to green matters and unnecessary dumbing down. I feel scientific communication needs to be improved and that this could be a field I might enter.

What is it like day-to-day on your course and what is the work load like? I’m expected to work a 9 to 5, although it is not strictly regulated. Work load is very variable and at times I may have to stay later or come into the lab at weekends. My time is split between being in the lab and at a desk in the office. In the lab I am in charge of acquiring my own data and then I will use office time to write up results and process/manipulate data. I tend to work alone although I do see other members of my research group from time to time.

What is the biggest difference between your undergraduate studies and your phd studies?definitely the independence – in an undergraduate course there is structure: lectures, deadlines, exam dates, and students fit into the schedule. With a phd there is a very vague path set out at the beginning and whilst the supervisor will guide you along or suggest you do certain things, the actual work is very much individual.

What would be your best piece of advice for undergraduates considering a science phd?It is really important to choose the right supervisor and research group. Most groups have a webpage and will have a list of recent publications – read these and if they are of interest then contact the group leader. »




Nicole Li

Laura Krell

age: 20sdegree and university: Ba english Language, Hong Kong Institute of education, and Ma drama and theatre education, university of Warwick Why did you decide to study to be a teacher? there were several good teachers who made important contributions to my life. so I wanted to become a teacher in the hope of bringing positive changes to others. Why did you decide to study at Warwick? It has the right course and I spoke to those who studied here, and was told it’s an excellent university with a good campus life. How did you find out about your particular course? I checked up about Warwick on the Internet and applied for -- and was accepted for -- a language course. at a pre-departure meeting I saw a drama and theatre education in the HK Warwick Newsletter and so I changed from the previous course. I love the course I’m doing now, which is the perfect one for me. What do you like most about your course here? I’m doing a Masters in drama and theatre education and apart from it being an interesting course of a very high standard, the students and tutors are a family who know each other well and mix socially as well as academically. We often have post-workshops socials and end of term parties. What are you planning to do when you finish the course? My course has strengthened my desire to stay in education, and I want to specialise in teaching drama. Would you recommend this course to others? If yes, what would be your advice to them? definitely! the course is not prescriptive, so be open-minded to the views of others, and always prepared to change your opinions. Is there anything else you would like to add? Warwick is an excellent university in a good location with cultural diversity, a range of activities from skydiving to spanish, and many excursions!

‘i want to climb the career ladder...and have a position with high responsibility and leadership competence.’

age: 22degrees and universities: Ba in Cruise Industry Management at the university of applied sciences in Bremerhaven, germany. Cruise Industry Management is a management degree focused on tourism and especially cruise tourism. Msc in global Financial Management at Newcastle Business school, Northumbria university, uK.

Why did you decide to continue your studies? as I have high career aspirations for my future life a postgraduate degree is a must-have for me. Furthermore, I like to study and I like the life of being a student. But most of all I wanted to spend time abroad and as uK academic institutions are highly esteemed in germany I decided to combine studying and being abroad with postgraduate study.

How did you fund your postgraduate study? to be completely honest, I have very generous parents. But I’ve worked since school and always saved some money, so I could pay for myself instead of accepting the offer of my parents.

How is it different from undergraduate study? I‘ve experienced undergraduate and postgraduate study in two different countries with different university systems and there are quite a lot of differences. My professors in germany studied in england themselves so they introduced a lot of formal correctness of referencing, structured approaches with methodology, critical evaluation, and discussion. However, studying in england is still much more directed to independent study. I have far less contact hours in my postgraduate study, only a few modules and along with lectures there is only an accompanying seminar for each. the international atmosphere is much more diverse than back home in my undergraduate study.

How do you think your postgrad study will help your career? I am convinced that a successfully completed english Msc will impress recruitment managers in germany. to an extent I think it highlights my ambition, in respect to studying in a country with an excellent reputation. also my flexibility to go abroad, to speak the most essential business

language (english) fluently, and to be able to deal with different cultures.

What are your career aspirations? I want to combine my two interests of finance and ships either in tourism or in the cargo industry. I imagine joining an international company and working in the financial department in the area of mergers and acquisitions, strategic investments, or similar. of course, I want to climb the career ladder step by step, maybe sometimes abroad, and have a position with high responsibility and leadership competence. It should be challenging but structured as I am typically german in respect to organisation preferences.

do you have any advice for students considering postgrad study? I think it is important to enjoy that last year of study before the nice life of being a student ends. postgraduate study is not so much different from undergraduate study, groups are maybe smaller, but there are still motivated and lazy students, there are still assignments to write, and presentations to do. university is university, if you ask me. take the year of postgraduate study to form your ideas of the future, do all the things that you will not be able to do with 28 days of holiday per year and work on all the skills you will need in the real world. don’t focus on study-related knowledge only; train your emotional intelligence, your soft skills and your cultural competence.

tell me one interesting fact about yourself Coming from a tourism undergraduate degree, my part-time job has been a shore excursion guide on board german cruise ships. In the semester breaks I have been to the Caribbean guiding old german tourists to the most beautiful islands; in Norway to see the most impressive nature; in the Black sea to explore eastern europe and you know what? I get paid for seeing the world in my red and white uniform... »


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Lucy Taylor

Ollie Smith

age: 23degree and university: 2.1 in psychology and postgrad Msc occupational therapy at university of Cumbria.

Why did you decide to do postgrad study? Having completed a degree in psychology with counselling skills, I was unsure of which career route would suit me best. although I enjoyed my degree I knew I didn’t want to study psychology at postgraduate level, and so I took a full-time job with my local authority while I made up my mind what to do next. I soon realised I wanted to follow a course that would give me a professional qualification and an interesting career, while still making use of the knowledge I had assimilated both during my first degree and in my job.

How did you decide on this particular course? Before making my decision, I spoke to friends already undertaking occupational therapy courses, researched into available courses, and spent time shadowing an occupational therapist throughout her working day. the final deciding factor for choosing the Msc at Cumbria was that I could live at home and travel in daily.

What do you most like about the course? so far the course has exceeded all my expectations. the tutors here are extremely helpful, approachable and great fun! there are fifteen of us on the course and that means you are recognised as an individual rather than simply one of a crowd. as it’s a masters course, everyone is from different educational backgrounds leading to great discussions on far-ranging topics. the course itself is constructed in a way to keep you interested and involved, and practical lessons ensure you’re more than ready for your placement.

What do you want to do when you complete the Msc? eventually I’d like a career in occupational therapy that is challenging and varied – I’m not sure which specific field at the moment, but after completing my

course I believe I’ll have a clearer idea of where my interests lie.

What would you say to other graduates contemplating doing postgrad study? one ironic thing is when I graduated in 2007 I promised myself I would never write another essay or sit another exam – and here I am, just over a year later, doing exactly that! yes, it’s hard work, what with my studies and also working in a bar to help cover my living costs, food, petrol and books (but more importantly shoes and clothes), but I’m really enjoying my course. I know I’ve chosen the right one at the right university, and once I’ve qualified, the world, as they say, will be my oyster!

‘I'm really enjoyIng my course. once I have qualIfIed, the world, as they say, wIll be my oyster.’

age: 22university and degree: english Literature, university College London, then diploma in Magazine Journalism, Cardiff university

When did you decide to apply to do a diploma in Journalism? about January 2008, as everyone on the student magazine I had worked on followed this path and had made it into the world of journalism. I thought it would be a fun thing to do! What made you pick the diploma over the Ma option? It’s about £3,000 cheaper. also, this is a vocational course, not an academic one, so why should it carry the theoretic weight of an Ma? It wouldn’t make sense. Where did you go to do your research about courses? speaking to friends and relatives, and also looking for employers' opinions.

What made you choose Cardiff and where else did you look? Bearing in mind the number of journalism courses out there - and their being viewed by many as ‘Mickey Mouse’ subjects - I felt it was worth applying to either Cardiff or City. I chose Cardiff as I felt the facilities were better, the environment was friendlier, and I wanted to leave London. Being frank, I wouldn’t waste your money on a course at anywhere that isn’t Cardiff, City or at a push, goldsmiths. What are you enjoying most about your course? the outside lecturers on the ‘Reporters and Reported’ module. they are generally editors from newspapers, magazines and broadcasters, and they have given the best lectures of my academic career.

What do you think is the biggest challenge facing young journalists? getting a job. sadly most work is now going to freelancers, so there are very few stable jobs anywhere in the media. the best advice is to start sooner rather than later and be very serious about what you want to do. Half the people who say they want to be journalists are just lazily considering it for want of anything else to do, and half the people who say they really are journalists are actually just writing reviews of Cds on amazon. Be professional and you will stand out from the crowd.

How are you funding your course? a mixture of money I’ve earned, my scholarship from the school (and my grandmother). What would be your best piece of advice for aspiring young writers? you need to learn photoshop, Indesign and know how to use a Content Management system (CMs). Keep a blog live, and have a basic understanding of search engine optimisation (seo). you can no longer be just ‘a writer’ - you would be worthless in this capacity. »Interview by Ed Thompson

‘the best advIce durIng your postgrad study Is to start lookIng for jobs sooner rather than later and be very serIous about what you want to do. be professIonal and you wIll stand out from the crowd’


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postgRaduate laW | CAsE stuDIEs RW

‘ having spent years in finance i decided i wanted to contribute to society.’

Kate Lambert

Noel McAuliffe

age: 44degree and university: history degree from Cambridge in 1994, conversion course at the College of law, london, qualified in 1998Work title: lecturer at the College of law.

Career route: throughout my history degree my lecturers were always keen for me to switch to law. there are so many parallels between history and law, particularly the academic side of things. I’d even gone as far as accepting a place on a gdl course after graduation, but decided to pursue advertising instead and joined McCann erickson where I headed up a team of 15 and worked on major london-based clients with international brands including Kellogg’s, esso, and Nestlé.

However, my role in the agency wasn’t as creative as it sounds! I was in charge of account management and led an experienced team in media buying. after eight years, I felt I’d gone as far as I could in the world of advertising and made up my mind to change direction. In my heart I still knew law was the career for me and enrolled on the conversion course at the College of law in london. I loved the course and went on to complete a training contract at osborne Clarke solicitors which had offices in the City and Bristol. I qualified in 1998 and worked as a commercial property solicitor until 2003, then worked as an in-house solicitor at legal Marketing services before moving to the College of law in 2007.

What do you love about what you do? I’ve always taken a commercial view of law. these days lawyers are consultants who advise on every aspect of enterprise. Business is about selling a product, working with clients and negotiating a settlement, this applies to any type of sector - advertising or law. I love working at the College where we structure learning in a very different way from the traditional teacher and class set-up. We now run workshops in which the tutors facilitate group work. Without my experience as a lawyer I wouldn’t have been able to do this, and this is my dream job it is so rewarding in all sorts of ways."

age: 35degree and university: senior status law degree with the open university Business school – completed in under two years [completed in december 2006]Work title: accountant for Brighton & Hove County Council on project relating to equal pay legislation and studying part-time for the Bar Vocational Course (BVC). Noel should qualify as a barrister this summer.

Why did you decide on a career in law? Having spent a number of years working in finance as an accountant/financial analyst, which was largely unsatisfying, I decided that I wanted to contribute to society in a positive way, and felt that this could best be achieved through a career in the legal profession.

What do you most enjoy about what you do? the equal pay project I am working on has a huge impact on a large number of poorly paid workers and will ultimately change a number of their lives for the better. this is innately rewarding and far more satisfying than any of my previous roles, and is a good example of the law working for those most in need. I am not yet working as a barrister and the satisfaction one can get from accountancy is limited. However, I hope to get called to the Bar this summer.

What skills do you think you need to succeed? above all else you need hard work and determination, and a clear view of what it is you want to achieve.

What advice would you give to graduates wishing to pursue a career in law? Find out as much as possible about the profession before you embark on the training, and be absolutely certain that it is what you really want to do.

age: 29degree and university:Beng Civil & transportation engineeringMsc Civil engineering and Construction Managementundergraduate degree Napier university, edinburghpostgraduate degree Heriot Watt university, edinburghJob title: assistant engineer, atkins

What it is you actually do? In one sentence, I design, manage and supervise construction of road infrastructure projects, but it is all project dependent. on one project I can be the designer, or on another the engineer supervising a construction site, or the project engineer / manager overseeing the whole project. on every project, however, you are always delivering to budget, programme, and to the clients’ satisfaction.

as a design engineer I specialise in highways structures, including bridges and culverts etc. I am currently designing a three span integral pre-stressed concrete bridge for the M74 Completion. as a design engineer I am based in the design office using structural analysis software to create models that analyse a specific bridge, and then develop spreadsheets to prove and ensure the integrity of the structure. I also draw autoCad sketches which I then pass to an engineering technician to develop into construction drawings.

Being an engineer on site is totally different. every day you are outdoors recording the contractor’s daily activities, checking the work conforms to the design and to the specified quality. one of the key responsibilities of being an engineer on site is that the information you have recorded is vital in the resolution of disputes and claims, therefore you need to be conscientious at record keeping.

as a project engineer/manager, again based in the office, you broaden your knowledge of other engineering specialisms and are trying to get each specialist team to co-ordinate and work together to provide the optimum designed solution, which sometimes is no easy task but a challenge none the less!

Were you always interested in a career in the built environment? I used to want to be an architect so I have always had an interest in the built environment. Being interested in art and design I looked to study architecture at university but on reading course descriptions I realised that I didn’t want to just provide the outline, I wanted to understand how something was built in the physical world which led me to civil engineering.

What do you like most about your job? I like

Phillippa Spencer

»

postgraduate Case studies (continued)



postgRad | CAsE stuDIEsRW

‘every person that i have worked with in this profession is determined, and passionate about their job.’

Ralph Pawlingage: 24degrees and university: Bsc in applied psychology, Liverpool John Moores University. Msc in Foundations of Clinical psychology, Bangor.

What do you do? I’m a part-time phd student in the school of psychology here at Bangor and I also work for the school as Editorial assistant for a periodical psychology journal. My phd is looking into the way in which humans unconsciously mirror the emotions and arousal levels of people around them as part of everyday social interactions. I’m interested in the systems in the brain that allow us to mimic in suitable ways -- reactions like a friend’s smile, a potential partner’s dilated pupils, or an opponent’s frown.

While I do my phd, I’m also working on the editorial team for a British psychology journal that’s edited within the school. My role is to run the process of peer reviewing each article; making sure that it goes to the correct editor and then is reviewed in good time by suitable researchers. Finally, I oversee the submission of successful articles to the publishers, ready for them to be compiled to form an edition of the journal.

Why did you decide to go into this sector? after doing my undergraduate degree I was fascinated by neuro-psychology, particularly the role of emotions in controlling ‘cooler’ aspects of brain functioning, like our ability to reason. When I took my Msc I got a chance to work in one of the larger research labs at Bangor, while I did my thesis project. I got a real taste for computer-based research and for creating cognitive tasks. I chose the position I’m working in now because it offered me the chance to make my own tasks, and to use pieces of equipment I’d never tried before, like eye-trackers and Electromyograms. Working for the journal also lets me gain some experience in a different area, and having the two things working in unison means I never get bored or feel stuck in a rut at work. I should also come out with a wide range of skills.

How did you find out about this particular course? I had read about taking phds at Bangor and I had already checked out the

the sense of achievement of taking a sketch on a piece of paper and making it into reality. I like the variety of the work that is available in this industry and working in the built environment heightens your awareness of your surroundings and just how important it is to develop, whilst also protecting and preserving, the natural environment. one other thing about this industry is the people. Every person that I have worked with in this profession is determined, and passionate about their job, they are always striving to do their best.

are there any downsides to what you do? In any job there is routine and civil engineering is no exception. designing a bridge takes concentration, determination and a lot of patience. another downside is that you can get all too used to the office and when you are required out on site, it’s pouring with rain and you know that you have another three hours in the cold and wet, all you can think about is being inside on a comfy chair drinking a cup of tea!

What do you think are the most important skills/strengths you need to make a success of what you do? good communication skills are a must, whether you are writing a report or giving a presentation you need to be able to express yourself. In civil engineering maths and physics is fundamental but there is always help and if you don’t understand something be prepared to develop the skill of assertiveness to ask the question. You also need to have common sense and be realistic.

What would be your best piece of advice for graduates wishing to come into this sector? Have confidence, and conviction but also know your own limitations. Be adaptable, co-operative and embrace opportunities with spirit.

Is there anything else you would like to add? If you enjoy a challenge then this is the industry to be in. If you like to be able to turn to your friend and say ‘I designed that’ then this is the job for you. overall you can be part of developing our environment, and you will leave a legacy behind you.

department before starting my Msc. Bangor psychology department is one of the leading ones in the country with academics who lead their field internationally and I was keen to be part of that sort of research environment. I was also attracted by the lifestyle, which meant that I lived in a beautiful part of the country, but was still able to easily access the attractions of Liverpool, Manchester, and dublin. the phd I took was advertised within the department and as a Masters student I got to hear about it through the university email.

Would you undertake further training to progress in your career? the more I learn about neuro-psychology the more I am considering taking a further qualification in the area. I had originally wanted to work in clinical psychology. However, the area of Clinical that most excites me is brain injury. I’m quite tempted to train as a neurologist after finishing my phd, although it would be a big commitment and mean a lot more time spent studying. alternatively, I haven’t ruled out taking a course to train in scanning techniques and then specialising in neurological scanning, using techniques like fMRI or pEt scanning.

What do you like most about what you do and are there any downsides? I love the progression of a study from the initial planning stage, through to the final data analysis. I enjoy working around other people, so the testing stage where I get to interact with the participants is always a nice break from being in the office. staying up-to-date with the research going on outside of the university is also a lot of fun as we tend to do this in group lab meetings. I love sitting there thinking I’m getting paid to sit here and discuss something which is to me a real passion. It certainly beats being an accountant or something for me!

the hours are flexible, which sounds like a good thing. But when you’ve got really into a project, you get to the end of the week and realise you’ve put over fifty hours in the lab and office. at the time it feels great because the work is driving you, but it wipes you out a bit! n


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City’s biggest employers of graduates have put a

freeze on recruitment, and the number of

vacancies for graduates has fallen for the first time

since 2003. However, there is a glimmer of hope for

those looking for a financial career - in the form ofaccountancy.

Wyn Mears, director of ACCA UK (the Association of

Chartered Certified Accountants) remarks: ‘Despite the

current global economic climate, there are still opportunities

for people to choose a career in accountancy. As a qualified

accountant, the work you do will be both interesting and

intellectually demanding.’ He adds: ‘Once qualified, the sky

is your limit - you will have proved that you have what it takes

to make it to the top of any organisation, regardless of sector

or industry, whether it is the public or private sector, a

multinational company, or even in a small practice of

accounting professionals.’

‘Despite recent trouble in this sector, there doesn’t seem to

be any slowdown in the amount of people interested in

pursuing a career in finance,’ says Richard Slack of Newcastle

Business School. ‘2008 will certainly go down in the history books,

but it is important that people learn the lessons about what has

caused this situation. Accounting students need to be in a

position to grasp the true impact of the crisis. It is, therefore,

crucial that Business Schools adapt their syllabuses to reflect

these contemporary events.’

If you have no interest in undertaking further study,

accountancy will not be for you as typically training for

professional accreditation involves study for a total of three

years. The qualifications are offered by different chartered

bodies (see the box – ‘Need to know’) and different firms favour

different qualifications. Most firms will offer support to those

taking exams, and there will be a structured programme of work

head foR figuRes

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Accountancy has long been one of the most popular career routes for

graduates. But, given the current economic climate, is it still a wise

option? Catherine Watson looks at why graduates should choose

accountancy as a career in this time of financial uncertainty.

and study, paid study leave, and often paid tuition fees. It is

possible to undertake some of the accountancy exams without

being employed, but in that case you will obviously have to pay

the tuition fees yourself.

Even once you have qualified you will be required to pursue

‘continuing professional development’ (CPD) in order to stay

abreast of the changes in the profession. You can also enhance

your qualifications by undertaking short assessments in

specialised areas or even do an MBA.

REALW.MAR09.ACCOUNTANCY.indd 38 27/2/09 18:12:59

RWaccountancy | overview


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To be a good accountant you will need to be highly

motivated, business-minded, and be a strong team player. You

won’t necessarily need a maths or business degree as many

accountancy firms will consider other disciplines. However, the

majority of major firms will expect you to achieve a 2:1; that said

many smaller ones will accept candidates with a 2:2. while

good numerical skills are needed, software is used nowadays to

do most of the complex work.

To the question ‘why accountancy?’ Mears says: ‘it is one of

the most challenging and rewarding professions open to

people. Accountancy will put you right at the centre of any

organisation, giving you the chance to influence its business

and ethical decision-making. Finance professionals are at the

very centre of things.’

So what will your job entail? There are three distinct ways in

which you can train and work as an accountant as follows:

1. within an accountancy firm which offers services to

external clients.»



accountancy | CAsE stuDIEsRW

‘as an acca member, i will have the opportunity of working in any sector i choose.’

Shahbaz Ali

»

2. for a public sector organisation

within its finance department.

3. in the finance department of a

commercial entity.

Accountancy can be either audit or

non-audit. Auditing involves working

closely with clients to make decisions

about their financial statements. the work

is often based at the client’s own

premises, so good relationships with clients

are essential. Other areas of work include

assurance, business advisory, corporate

finance, corporate treasury, forensic

accounting, risk assessment, and tax.

In terms of salaries, as a graduate

trainee you can expect to earn upwards

of £20,000 to about £27,000. On

qualification remuneration can be

significantly higher and the bigger firms

will also offer benefits such as pension

schemes, and even discretionary

bonuses. so, if numbers are your thing,

accountancy could be a great way to

beat the credit crunch.

need to knoWWho are the Big Four?deloitteernst & youngkPMGPricewaterhousecoopersWhat do the acronyms stand for?acca - association of chartered certified accountants: It claims to be the largest and fastest-growing international accountancy body. the qualification offers flexibility. cIMa - chartered Institute of Management accountants: Management accountants look to the future; they analyse the performance of a business and advise on how it can develop.

cIPFa - chartered Institute of Public Finance and accountancy: Reportedly one of the uk’s leading professional accountancy bodies and the only one to specialise in the public sector. IcaeW - Institute of chartered accountants in england and Wales: this is the largest professional body in europe. IcaI – the Institute of chartered accountants of Ireland: Ireland’s largest and longest established accountancy body. IcaS - Institute of chartered accountants of Scotland: the institute trains accountants across the uk - not just Scotland. It was the world’s first professional body of accountants, receiving its Royal charter in 1854.

the MaGIc nuMBeRS• the six chartered bodies have over

275,000 members and over 165,000 students in the uk and Republic of Ireland.

• Worldwide the six chartered bodies have over 370,000 members and 390,000 students.

• across the globe student members have been growing more quickly than ordinary membership.

• the number of registered audit firms has been gradually declining, with 8,574 registered in 2007 – compared with 11,211 in 2002.

• over the past five years, the Big Four have experienced a steady increase in the proportion of fee income from non audit work for non audit clients.

Source: Professional Oversight Board for Accountancy (2008)

age: 23university: Ba hons accounting at newcastle Business School, northumbria university current course title: MSc accounting and Finance, newcastle Business School

Why did you decide to continue your studies/what interests you about this area and specific course? I decided to continue my studies because the university was launching this new MSc accounting course where I could gain a masters degree and a professional accounting qualification.

how did you fund your postgraduate study? half of my funding was from personal savings and through a part-time job. the other half came from a professional development loan through the bank.

how is it different from undergraduate study? as an undergraduate student at first we were given more guidance on teaching and learning because for me personally going to university was a daunting step. however, the lecturers and staff make you feel part of the higher education community and stress the importance that to get through university you must work hard, but more importantly play hard too. Socialising was the key factor in undergraduate because it helped me build a relationship with the students and lecturers alike and this was one of the reasons why I stayed at northumbria university. at postgraduate level however we use more of our own intuition when it comes to learning because the accounting and finance course is unique, and rather different to a normal masters course. at northumbria there is a distinctive mix of cultures which makes the postgraduate course invigorating as it has allowed me to build a world-wide network with potential future managers and leaders.

how do you think your postgrad study will help your career? the course is unique and different to a normal masters degree. this is because the MSc accounting and Finance degree is tailored towards gaining a professional accounting qualification, the

acca. the advantages of the acca qualification is that there is a high demand by employers in industry, banking, auditing, and consulting, as well as other professions like taxation and law. as an acca member, I will have the opportunity of working in any sector I choose all over the world, be it public practice, the public sector, financial services, or the corporate sector, giving me access to a broad range of complex and interesting roles.

What are your career aspirations? I would ideally like to pursue a career in accountancy for a medium or small firm. I would like to be employed in a company where I can make a difference by becoming more involved with decisions and where my work is recognised. With the duality of the degree I would be additionally equipped with the skills and knowledge to pursue a successful career in the accountancy profession. Personally I would like to take a career path in either audit or as an insolvency practitioner.

do you have any advice for students considering postgrad study? Postgraduate study is ideal if you would like to gain further knowledge within a particular discipline. you have to be disciplined when it comes to the externally assessed professional exams because you may find yourself taking more than one exam at any one sitting. as well as studying hard there are a lot of enjoyable things to do on campus ranging from quiz nights to field trips. What separates northumbria university from any other university is the reputation the city has for its great night life. If accounting is what you intend to pursue then the MSc a&F is the perfect course for you.


The ACCA Qualification opens up a whole world of possibilities. It could be your ticket to a career in any sector and any size of business, and it’s recognised in more than 150 countries worldwide. The global body for professional accountants, ACCA is currently providing training to 325,000 students, preparing them to become the next generation of Financial Directors, CFOs, CEOs and Partners.

To find out how you could join them, visit

www.accaglobal.com/graduates

accouNtaNcY wItH couNtless PossIbIlItIes

ForeNsIc accouNtaNcY

tHe cItY

FULL_ads.indd 7 27/2/09 18:41:49


accountancy | CAsE stuDIEsRW

‘the aca is a difficult qualification to achieve, but that's also why it is worth having.’

Inderpal Dhillon

Neil Temple-Gough

Degree: LLB Law 2:1 (London School of Economics)Inderpal is now part qualified having completed the professional stage of the aca exams (via IcaEW).Job title: associate/ trainee chartered accountant - cRa International, London

Why did you choose chartered accountancy?I chose to embark on a career in chartered accountancy due to the broad range of skills that the role and the training help to develop and because it provides the ability to study for a professional qualification which, in itself, can open up a wide range of career opportunities. Having researched the different areas of accountancy, I found Forensic accounting to be the most appealing. Forensic accounting appeared to offer a different slant on the profession. It is one of the most rapidly growing and exciting areas in accountancy due to the broad variety of work which continually keeps you interested and motivated, in addition to the high level of involvement required from the outset.

Why did you choose the aca? If pursuing a career in the accountancy field, there are many qualifications to choose from whether it be the aca, acca, IcaS or cIMa. Since each type of qualification differs, it is important to think carefully about which qualification to undertake and to research the preferences of each individual firm. I chose the aca largely because I was keen to have the security of training for a highly recognised and prestigious qualification. not only is the IcaEW the largest professional accountancy body in Europe, but it is estimated 80 per cent of FtSE 100 companies have at least one aca as a finance director or chief executive on the board. It is a difficult qualification to achieve but that is also why it is worth having.

How did you choose your training firm?In my view it is extremely important to think carefully at the beginning of your career as to exactly what you as an individual are looking for, and when considering which company to join, to ensure you choose a company that will suit you. It is quite easy to

overlook such issues when focused on finding your first graduate position. When choosing my training firm, I sought to find a firm that offered my preferred qualification, the aca, and which worked exclusively in forensic accounting, therefore avoiding the many conflicts of interest that hamper the ability of larger firms to take on some work. Moreover, I felt that the atmosphere in a slightly smaller firm would suit me best as I wanted a wide exposure and the opportunity to develop more quickly than would have been possible within a larger firm.

What is the most difficult aspect of your training? the most difficult aspect of my training is undoubtedly the exams that I am carrying out as part of my aca qualification, which, as a graduate trainee I am contracted to pass. I attend training courses at Ftc Kaplan during office hours. the courses are spread over several weeks and the tutoring and support provided by the college is excellent and supported by on-the-job training. although not extremely difficult, it can occasionally be difficult to balance work and study. Fortunately, my training firm, cRa International is supportive and work pressures rarely interfere with study.

Degree: Economic and Business Finance (Brunel university)Job title: Investor Relations Manager, Barclays PlcProfessional qualification: aca

What was your first job? I did some contract work in an investment bank, and whilst it gave me a great insight into the workings of a successful business, there was no formal qualification I could take and no real career progression. I looked at several alternatives and spoke to friends and family about possible options. chartered accountancy and specifically studying for the aca appeared to be the best option because it is a world-class business qualification with a huge array of career options available once qualified.

How did you chose where to do your accountancy training? I specifically chose a medium-sized accountancy practice, Baker tilly, in which to train for the aca as I wanted to have the opportunity of being involved with both smaller and larger clients in a range of

business sectors. I was also keen to interact with a range of individuals from the book-keepers right through to Managing Director level which working at a mid-sized firm allowed me to achieve.

What did you do on qualification? I took some time out to travel abroad once I qualified, and having the aca behind me gave me the security and confidence that I would be able to come back to England and get a good job.

Where do you work now? I joined Barclays in 2004 and have had the opportunity to be involved in a number of roles within finance since. Most recently I moved into the Finance control team in november last year, working within the head office finance function. Within Barclays Financial control I am one of the Business Relationship Partners working with Barclays capital, the investment banking arm of the Bank. this has involved working closely with Barclays capital to ensure that the reporting of their business within the Group numbers is accurate. although it sounds simple there is plenty of work involved including fact finding, validating statistics and figures, contextualising the statistics of the business, and ensuring smooth communication between the finance teams in the business and the group centre.

I've also mentored a student currently studying at my old university, Brunel. this allows me to give something back to my university, help others ,and in turn allows me to develop some new skills as part of my continuing personal and professional development (cPD).

What advice would you give other people considering the accountancy profession? My advice to those thinking of becoming an aca would be to consider all your options carefully - you don’t necessarily have to train for the aca in an accountancy practice. In fact there are some great opportunities available outside of practice, and I am supporting a colleague studying here at Barclays. Having the aca under my belt opened up many doors at the start of my career and it still continues to do so. n


The VocalisT.The GuiTarisT.The BassisT.The Drummer.The accounTanT.

essential for keeping the show on the roadThere are a multitude of career opportunities for graduates, but how can you be sure that you’ve got what it takes to secure your dream position? The ACA qualification from the ICAEW will give you access to an amazing career. Every business needs an ACA qualified chartered accountant, so if you want to be pivotal to keeping the show on the road, find out more:

e [email protected]/careers

B1426601 ICAEW RealWorld_297x210.indd 1 18/2/09 16:17:58FULL_ads.indd 8 27/2/09 18:41:28

Actuaries use their outstanding analytical and mathematical skills to forecast financial futures and solve complex problems. For graduates with superb numerical aptitude and an ability to think logically, joining the actuarial profession could be the perfect career.

THE FUTURE'S BRIGHT

REALW.MAR09.ACTUARIAL.indd 44 27/2/09 18:15:09

o become an actuary you first need to

join the Actuarial Profession which is

governed jointly by the Faculty of

Actuaries in Edinburgh and the Institute

of Actuaries in London, which lay down a

code of conduct for their members to

ensure that the interests of the public are

protected. They also set exams which all

new entrants must pass before becoming qualified members.

Dr Trevor Watkins, head of learning at the Actuarial

Profession, comments: ‘The qualification process blends

concepts, principles and techniques gleaned from academic

disciplines such as mathematics, statistics and economics with

insight into actuarial practice, and the development of business

skills such as communications. There is also a need to undertake

work-based skills which ensures that qualifiers have gained a

range of relevant practical experience.’

You might not realise it, but actuaries play an important role

in everyday life. For example, when you take out general

insurance actuaries calculate premiums and what reserves the

insurance companies need. Likewise, for life assurance they

calculate how long someone is likely to live and how much

they will need to pay in. An actuary’s role also includes

providing commercial, financial and technical advice

underpinning pension funds and other financial institutions,

helping them and the public at large to make financial sense

of the future. Watkins says: ‘Actuaries have significant expertise

in risk management using their numerical skills to help

businesses to understand risk better and to take action to

reduce their exposure and to turn risk into opportunity.’

He adds: ‘We are in turbulent times and those planning their

careers after graduation face a very difficult time in seeking

employment. It is difficult to forecast which type of job has a

positive future. Starting a career as a trainee actuary has more

going for it than many other career paths. The global credit

crunch is likely to result in more regulation in the financial

services sector and stronger risk management skills.

‘Training as an actuary builds on mathematical and

statistical abilities and combines them with enhanced business

understanding providing a professional approach to risk

management which should be highly valued by employers in

these uncertain times.’

It is estimated that 40 per cent of actuaries are in the

pensions area, but with so many final pension schemes closing it

is all too common to see headlines such as ‘Warning over final

pension schemes’ and ‘Pension scheme deficits balloon’.

However, until the final pension schemes actually close there is

plenty of work for actuaries in this area to undertake and as Dr

Watkins points out tighter regulation for financial services means

greater demand for actuaries in other areas. Big City firms such

as investment banks and consultants are increasingly employing

actuaries to help inform future investment and to ensure that all

risks, big or small, are calculated.

Watkins concludes: ‘The skill-set of qualified actuaries seems

highly appropriate in today’s uncertain business climate, and it’s

a career that offers more insurance against the recession than

many other financial services based options.’

RWactuaRial | ovErvIEW

WWW.rEALWorLDMAGAZINE.CoM RW 45

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actuaRial | CAsE stuDIEsRW

‘the actuarial profession is very well regarded globally, which is reflected in the pay and job security.’

Shyam Gharial

Sonali Perera

»

Job title: assistant consultant (actuarial)Employer: Quantum advisory (Qa), londonDegree: PG Diploma actuarial Science, cass Business School

When and why did you choose an actuarial career? after i had finished my BSc in Maths i went travelling for 15 months, hoping that along the way i might figure out what to do with my life. i’d never heard of an actuary until i met an american actuarial student, who was visiting at the ranch i was working on in australia. Since we both enjoyed maths (and she was very attractive) i thought i’d research the profession. i visited actuaries.org.uk, liked the sound of the profession and decided i needed to study further if i was to have any hope of getting in as i had found it difficult to get on to a graduate course with a 2:2 grade from my undergraduate course.

Briefly explain what your work involves, practice area, etc. i started at Qa, an employee benefits consultancy, in May 2006. Since joining i have been involved in many different areas of work and with a number of different actuaries from the start. actuarial jobs have included creating valuation models; special projects involving cost savings for pension schemes and companies. i am currently concentrating on investment consulting work which involves preparing presentations for clients; manager selection; monitoring and creating market reports. Other areas of work i have been involved in are attending client meetings, tendering for new business, recruitment, research into new aids/tools, and looking at new office buildings to rent.

Which skills do you consider to be essential for your job? i believe it is important to be diligent and hard working, as well as being a little bit clever. For consulting, one should be at ease when you are meeting and speaking to people, and you must not be afraid to ask questions. although it is not essential for my job in particular, i do believe it has been a plus that i have been comfortable with occasionally being thrown in at the deep end and been able to swim!

What do you like most about your job? Being in a small company has allowed me to work closely and regularly with a number of qualified actuaries and owners of the company, who have vast experience between them. i love learning by attending and speaking at client and other meetings although i am mainly based in the office. the owners encourage staff to take relevant qualifications and offer good support.

How do you achieve a work/life balance? Outside of work, i have three months of play at a time and then hibernate for three months when i study. it can be difficult locking yourself away from everyone for long periods but, i find it is better for me to have a blinkered approach in order for me to pass the exams.

Future plans? i am hoping to qualify by 2012. i am enjoying the investment work i am currently doing and hope to gain a deeper knowledge in this field. this would allow me to present to clients and prospective clients as a lead advisor.

Job title: Pensions consultantEmployer: Watson Wyatt, ReigateDegree subject: MORSE (Maths, Operational Research, Statistics, Economics), university of Warwick

When and why did you choose an actuarial career? During a levels when i was going through the ucaS process, my maths teacher suggested i look into the actuarial profession as she believed it would suit my abilities. the actuarial Profession website was especially helpful when researching as it has a section for students, and gave me a genuine insight into what the profession entailed. as i enjoyed maths and wanted a challenging job which would utilise mathematical and analytical skills, and which would involve frequently conversing with colleagues as well as clients, i chose to pursue the profession. as an actuary you get the opportunity to perform the calculations whilst also meeting the clients you are doing them for, which provides the opportunity to see where the work you do fits in the bigger picture. i have found this

aspect to be highly rewarding. in my second year at university i did a summer internship at an actuarial consultancy, which gave me an insight into the day-to-day work involved and helped confirm that this was the right career path for me. the profession is very well regarded globally, which is reflected in your pay package and job security.

Briefly explain what your work involves. i work in the Benefits Practice at Watson Wyatt, which involves working on Pension Schemes for companies across the country. the clients i work on are both large and small and it’s nice to sometimes see a client you’re working on in the newspaper or on the news. Everyday is different, which makes the job interesting. On a daily basis i might be working on calculating the value of an individual member’s pension, valuing the whole pension scheme, developing key pensions software for clients, attending client meetings, assisting with developing presentations for clients, and giving training. at Watson Wyatt you are encouraged to think independently and use your initiative to come up with your own way of getting the answer. training is also a key part of being an actuary, to help develop your knowledge further.

Which skills do you consider to be essential for your job? as an actuary, it is essential to have team working skills. a lot of the work i do is in teams, and it is important to be able to work within the team to get the task completed efficiently and on time. also, you need to be able to manage your time efficiently as sometimes you will be working on a few tasks at the same time with different deadlines, and having to fit study into your week as well. You need to be able to motivate yourself, think independently, and enjoy learning.

What do you like most about your job? it's the people i work with. in the Reigate office i work with people from diverse backgrounds and cultures. they are very approachable and everyone is always willing to take time out to answer any questions i have. the environment at Watson Wyatt is very friendly and there are many socials organised throughout the year. Everyone works hard, but also knows how to enjoy themselves, this makes working here very enjoyable. i also like the fact that you are continuously learning and as a graduate you will be joining with many people who are in the same position as you. n


GRADUATE TRAINEE ACTUARIES – CENTRAL LONDON

ACTUARIES IN THE PUBLIC SECTOR FOR THE PUBLIC SECTOR

GAD are committed to equal opportunities. Accordingly, we recruit, train and promote people in all job roles regardless of their race, colour,religion, national origin, gender, age, sexual orientation or disability or any other grounds which are unjustifiable in terms of equality. GAD followsthe Guaranteed Interview Scheme for all applicants with a disability.

The Department’s recruitment processes are underpinned by the principleof selection for appointment on merit on the basis of fair and opencompetition as outlined in the Civil Servicte Commissioners’ Code which can be found at www.civilservicecommissioners.org.uk

The rewards packageincludes a competitive salary+Excellent training and support+Defined benefit pensionscheme+Flexible working hours+Generous study leave andannual leave+Commitment to continuing professional development

=Excellent Opportunity

YOUR REWARDSAt the Government Actuary’s Department weare renowned for the quality of our advice. This isbecause we select only the most promising recruits.

Providing consultancy advice to some of the largestpension schemes in the UK, our work is crucial to thewelfare of millions of people. Our graduates are theactuaries of the future.

As a trainee actuary you will work as part of ateam, with qualified actuaries, to deliver adviceacross a broad range of areas such as valuations,benefit design, investment strategy and governmentpolicy.

In addition to advising government, trustees andemployers, there may also be opportunities to workin UK and International Social Insurance. As yourexperience grows you can expect to have regularclient contact.

To help you qualify as quickly as possible we offersubstantial study support with generous study leaveand paid for tutorials, courses, exam entry andexam counselling. We also provide one of the finest training programs in the industry with a rangeof professional briefings, management and businesscourses to enable you to develop into a leading all-round actuarial consultant.

To applyVisit www.gad.gov.uk/careers for details of how to apply. Closing date for completed on-line application is 30 June 2009.Applicants who applied for this vacancy in the previous 12 months need not re-apply.

For enquiries or if you require the application in an alternative format, please contact VeronikaHeinecke, Personnel Officer, on 020 7211 2734 or e-mail us at [email protected].

actuarial | case study rW

‘THE STUDY SUPPORT IS EXCELLENT AS EACH TRAINEE IS ASSIGNED A QUALIFIED ACTUARY AS A mENTOR, wHO KNOwS wHAT IS REQUIRED .’

Chris Daniels

��

� �

CHRIS DANIELS

"My colleagues have been extremely helpful and are always ready to explain ideas and concepts."

PROFILE

Since joining GAD, I have worked on a wide variety of projects from a consolidatory report on the Local Government Pension Scheme (which is broken down into individual funds but taken as a whole has over four million members making it the largest pensionschemes in the country) to assisting on valuations for the Firefighters’ and MP's PensionScheme. I have also worked on individual pension calculations for high profile local government employees.

My colleagues at GAD have been extremely helpful and are always ready to explain ideas and concepts that I have difficulty with. Within the department, there are a large number of actuaries to work with and learn from; in particular, the study support is excellentas each trainee is assigned a qualified actuary study-mentor, who, as a qualified actuary,has been through the exams and knows what is required to pass them.

There is an extensive and personalised training program to ensure that employees are wellversed in technical and and non-technical skills. Recent training courses I have been on havecovered such diverse topics as client service and communication skills to the workings of ouractuarial valuation software.

It is an exciting time to be at GAD as the department continues to grow and expand intonew areas of government.

I was initially attracted to GAD by the unique public sector focus of the department and the important role it plays within government.Since joining I have been equally impressed with the culture, the work-life balance and the range of opportunities available.

DEPARTMENT Occupational Pensions

TIME AT GAD One year

STUDIED AT London School of Economics

DEGREE BSc in Actuarial Science

Degree and university: london School of Economics, BSc in actuarial SciencePosition: Occupational Pensions, Government actuary’s Department

What do you actually do? Since joining GaD, i have worked on a wide variety of projects, from a consolidatory report on the local Government Pension Scheme (which is broken down into individual funds but taken as a whole has over four million members making it the largest pension schemes in the country), to assisting on valuations for the Firefighters’ and MP’s Pension Scheme. i have also

worked on individual pension calculations for high profile local government employees.

My colleagues at GaD have been extremely helpful and are always ready to explain ideas and concepts that i have difficulty with. Within the department, there are a large number of actuaries to work with and learn from; in particular, the study support is excellent as each trainee is assigned a qualified actuary study-mentor, who, as a qualified actuary, has been through the exams and knows what is required to pass them. there is an extensive and personalised training program to ensure that employees are well versed in technical and and non-technical skills. recent training courses i have been on have covered such diverse topics as client service and communication skills to the workings of our actuarial valuation software.

it is an exciting time to be at GaD as the department continues to grow and expand into new areas of government.

i was initially attracted to GaD by the unique public sector focus of the department and the important role it plays within government. Since joining i have been equally impressed with the culture, the work-life balance and the range of opportunities available.



CONSULTATIONPROCESS

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he role of a

management

consultant is

varied and

wide-ranging, but

put simply it is

about developing

solutions for

clients. Work is project-based which

means travel is highly likely. Consultants

are often seconded to work at clients’

offices, so when you apply for a

management consultancy position you

need to be sure you are willing to be

away from home, sometimes for long

periods of time.

As a graduate you can probably

expect to start as an analyst, and then

become a consultant two or three years

later. At analyst level you will be assisting

consultants on projects for clients. For

example, you could help advise a

company on its management issues, and

advise how it should improve its profit-

making abilities.

One of the many advantages of

applying for a position as a management

consultant is that almost any discipline of

degree will be considered by firms.

However, not only will you have to

achieve a high degree classification

(many firms filter out those with less than a

2.1), you will also need many strings to

your bow – outside of academic life.

Annabel Nichols, UK graduate

recruitment manager at Accenture, says:

‘We look for individuals with excellent

communication skills, who are able to

work in teams across different levels and

geographies. Graduates need to have

initiative, confidence, dynamism and be

able to prioritise. They must also be

passionate about change and

innovation, and not be frightened of

working with technology.’

Nichols adds: ‘One of the great

advantages of a career in consulting is

that there is no typical day or role. These

will vary depending on the client and

scope of the project but new graduates

might typically involve preparing business

proposals, developing business processes,

designing applications, and working with

client teams to improve efficiency and

performance. Graduates are given

extensive trainiing to enable them to

successfully undertake these types of

roles and the training and mentoring

continues throughout their career.’

But given the economic downturn is

consulting still a sensible career option?

Nichols reports: ‘In times of difficulty,

companies can either keep their heads

down or look for ways to innovate, and

see it as an opportunity. Those that do will

always need our help and we continue

to deliver large scale projects, improve

efficiency, and save costs.’

So what advice does Nichols have for

those considering consulting as a career?

‘Do your homework,’ she suggests. Read

up about consulting to help you make an

informed decision about whether this

career is right for you.'

Given the lucrative salaries (around

£30k) and perks, competition for these

jobs is fierce. You will need to get in your

application for a graduate position early

– and for internships even earlier. For

those with enough stamina a career a

management consultant could lead to

some great rewards.

Management consultancy is one of the best-paid graduate careers around and not only that, it is intellectually demanding too. Even in these times of economic uncertainty, companies require the help of consultants, consequently it could be a great recession-beating career, as Catherine Watson reports.

T

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RWconsultancy | overview




consultancy | CAsE stuDIEsRW

‘a can-do attitude, motivation, and ambition will make you excel at everything you decide to do.’

Ben Rogers

Jonathan

age: 24Degree: Ba (Hons) Philosophyuniversity: university of southamptonWork title: analyst, accenture

What it is you actually do? I work on a project for the Department for Work & Pensions which is radically improving the way Pension benefits are claimed and paid to millions of uK citizens. the project involves the implementation of a complex cRM (customer Relationship Management) system which means that pensions are claimed and paid in a matter of minutes rather than weeks.

I am currently doing test and analysis of a new release of this system to ensure that accenture has delivered a solution to the original requirements.

Why did you decide to go into this sector? someone told me It consulting isn’t the most typical route for a philosophy graduate – I say why not! I knew I liked asking the right questions, solving problems and coming up with new and creative thoughts. I was also good at It when I was younger, so a career in an It consultancy seemed a great fit.

Would you undertake further training to further your career? the great thing about accenture is that they take your career and your training very seriously, and I have been picking up new skills and training continually throughout my career so far. I would like to specialise in cRM software such as siebel. last year accenture paid for me to go on a two week intensive training course, and I hope to attend another one of these soon.

What do you like most about you do and are there any downsides? I like knowing that the team that I am part of, and the work that I do, makes a difference to millions of people’s lives in the uK. But, high rewards mean high expectations. Hours can get long, things can get challenging, and things can get competitive. But it’s worth it.

What do you think are the most important skills/strengths you need to make a success of what you did? I believe that if you have a willingness to learn and adapt to new ideas,

possess an open mind and you are good with people, you will succeed anywhere and at anything that you do. a can-do attitude, motivation and ambition will make you excel at everything that you do.

specific It skills do help, but you will pick them up fast with the training you’ll get, especially from a company like accenture.

What would be your best piece of advice for graduates wishing to come into this sector? take your time to research not just the company you want to work for, but also the clients you might be working on. It’s not just It knowledge, but knowledge of an industry.

Have a think not just about what you can offer a company, but what the company can offer you in terms of rewards, support and development.

Is there anything else you would like to add? think about the impact the job you do, and the people you work for, have on the world. and take the time to research ethical and green credentials!

university: nottingham university, HistoryWork title: Business analyst, McKinsey & company

What it is you actually do? From project to project I have found myself working on strategy, market-entry, pricing and operations across the retail, media, consumer goods, finance, and telecoms sectors. In this environment the role of the Ba is at the heart of the engagement team (consisting of two to six people), taking a leading role in problem-solving (both quantitative and conceptual), working closely with clients and over time, taking increasingly more independent and ‘standalone’ roles.

Why did you decide to go into this sector? From the outset, what I knew was I wanted to use the first couple of years after university to try as many different things and create as many options as possible. this resolve and a drive to work with the best people on interesting and challenging problems, led me to consider a career in consulting.

Would you undertake further training to further your career? after two years as a Business analyst (Ba) McKinsey provides the

opportunity to do something different. one option is to study for an MBa which is a fantastic step to further your career prospects. I am most interested however, in the opportunity to continue “learning from doing”, and hope to find a role in a dynamic, fast-moving company where I would like to both manage a team and take responsibility for delivery. McKinsey offers support, guidance and a network of connections to help you find the right opportunity.

What do you like most about you do? on arrival at McKinsey I was presented with a huge range of opportunities and a learning curve far more challenging, applicable and stimulating than anything I had encountered before. Driven by passionate colleagues and challenging problems, as a Ba you are encouraged to get involved from the outset taking early responsibility and having a real input to client work. For me, this has meant that I have been able to do things as diverse as running idea generation workshops for senior management teams, developing and delivering training programmes with clients, and taking responsibility for managing a work stream that spanned several countries. thanks to a world-class infrastructure of support, research resources, visual graphics services, analytics helpdesks, training, experts and mentors, I am able to be an effective consultant while enjoying my work to the utmost.

What do you think are the most important skills you need to succeed? Intellectual curiosity – it helps to have a keen appetite for complexity and variety in your work. you will find yourself considering and solving issues that might never have occurred to you.

Enjoy learning from doing – from day one you are working in a challenging and fast-moving environment so it is important to feel comfortable asking questions and always holding your hand up if you need help. n


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