Cadetships 2008/09

[seremify007]

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Originally Posted by dan_ster

so can someone please confirm the approx pay for cadets? how much does it vary between the big 4 and small/mid tier firms?

Look through some of the other threads- it's been discussed before. Nonetheless, you shouldn't be too focussed on the financial remuneration aspect of things because as a cadet, you'll be rewarded sufficiently but not extravagantly. The real reward is when you return as a grad but start off as a senior (or equivalent associate)- that's when there is a significant gap between you and a grad.

[roadcone]

Originally Posted by dan_ster

so can someone please confirm the approx pay for cadets? how much does it vary between the big 4 and small/mid tier firms?

Put it this way - if what you are going to be paid is your biggest motivator for becomming a cadet then you probably shouldn't do it.. Why?? because it's common knowledge that for the hours you do the pay is not fantastic. People mostly do it because they know that the advantages that a cadetship offers is the biggest drawcard.

Oh and the approx pay will be somewhere between $25k and $30k, I haven't actually checked what is being offered to cadets starting in my department next year.

[sickone]

can any1 outline the pros and cons of working in the taxation section?

[roadcone]

Originally Posted by sickone

can any1 outline the pros and cons of working in the taxation section?

I work in tax - I tend to think it's pretty good.

Some quick thoughts:
* People often think that working in tax early in your career is a disadvantage because it will make you too specialised. This is not true is any way - in my opinion working in audit is far more so. Tax will give you the opportunity to use your accounting skills on a regular basis as you try and reconstruct the journals that gave rise to certain transactions etc etc where as audit is (from what discussions i've had with others) very must solely focused on well, bloody auditing (i apologise in advance for my current hate of auditors but if I get told something isn't material one more time I will flip because all I want is for my numbers to match up - freaking *insert biggest big4 company here*
* Contrary to popular belief tax does know alot (and is growing increasingly) about auditing practices and accounting standard - this is mostly due to AIFRS and the stuffed up things that it does to us.
* You get to do some work for auditors.
* Tax offers a good opportunity if you want to head into the advisory arm because, even as a junior, there are generally lots of opportunities to step away from the compliance side and help out or right advisory letters on often very technical issues.
* Due to the large accounting base, it will help you quite a lot with certain uni subjects.
* There is a lot of variety (i'm in corp tax, but you could also head into the indirect taxes) - consol itrs, individual itrs, trusts, monthly compliance work, fbt, company set ups, ATO reviews if you get the chance.
* I guess a drawback is that it is very technical and you get thrown in the deep end while your still very green (mostly because unlike auditing there aren't very many opprtunities for the 'here spend the next week with this green pen and these spreadsheets').


Umm not really sure what exactly you are after.. throw a few questions my way and i'll attempt to answer them if you would like.

[aricho]

who went to KPMG and who went to UTS tonight
i went to UTS

[Newbie]

lol roadcone are you in pwc tax
i summered there in IC lolol
hi5

[roadcone]

Originally Posted by Newbie

lol roadcone are you in pwc tax
i summered there in IC lolol
hi5

nope.

[Newbie]

"i apologise in advance for my current hate of auditors but if I get told something isn't material one more time I will flip because all I want is for my numbers to match up - freaking *insert biggest big4 company here* "

- that got me confused i guess

[roadcone]

Originally Posted by Newbie

"i apologise in advance for my current hate of auditors but if I get told something isn't material one more time I will flip because all I want is for my numbers to match up - freaking *insert biggest big4 company here* "

- that got me confused i guess

yeah good point, sorry.

bare in mind that very few companies use the same firm for audit and tax work.

[miss-smexy]

Originally Posted by aricho

who went to KPMG and who went to UTS tonight
i went to UTS

I went to UTS. Did you find it helpful? Lol they had wine there. Couldn't drink it though! lol

[nnp]

i am going to the KPMG night tommorow, is anyone else coming?

[miss-smexy]

Originally Posted by nnp

i am going to the KPMG night tommorow, is anyone else coming?

Yeh maybe if I manage to finish all my assessments/hw on time!

[aricho]

i went to UTS, was pretty good. yeah i had to drive home haha
umm i was supposed to be going to KPMG, i rang up last tuesday, and nobody got back to me so i assumed i had been put down. I got a call last night saying they were full. which sucks considering i rang TWICE to confirm over a week earlier. i reckons i should still go, what do u guys think?

[seremify007]

I've noticed alot of people say they are skipping alot of these firm networking/career events because they have exams coming up in the weeks ahead... honestly speaking, and I don't mean to say this will represent all cadets or coops lifestyles, but the reality with our job is that both now as undergrads, and later on when you return as a grad and study CA, you will always be balancing work with studies so if anything, this is just a good way to see if you're able to do just that. Sometimes you'll be so into something at work you don't want to take time off in advance to study for a small midsem/quiz, or something urgent pops up which only you can answer or do properly a couple of days before an exam, and you have to be able to balance. Sure academics/uni results aren't so important compared to HSC, but the reality is you will need to manage your time properly on either a cadetship or coop program because unpredictable things can happen.

[Meads]

Originally Posted by aricho

i went to UTS, was pretty good. yeah i had to drive home haha
umm i was supposed to be going to KPMG, i rang up last tuesday, and nobody got back to me so i assumed i had been put down. I got a call last night saying they were full. which sucks considering i rang TWICE to confirm over a week earlier. i reckons i should still go, what do u guys think?

No, just disregard KPMG when applying due to their poor form :P

Only kidding. I would attend.