lost_lil_anjool said:
In the traineeship contract with EY, it says that there is a three month probation period and that your contract can be terminated at any time after that. What are the chances of that happening and in what cases could it happen? Could someone from EY please answer that??
Thanks in advanced
Most firms have that I believe- PwC, Moore Stephens, KPMG, EY, etc... it's pretty much a safety net to get rid of people who don't really live up to expectations I think. I've never heard of anyone actually getting terminated- usually the employee themselves can figure out that they aren't suited to the job/firm and move on independently.
Meads said:
However when you are finished your traineeship you will not be put on a nomral graduate program (if you were what would be the point of doing a traineeship!? You will be behind!). You start as a consultant...so $50k+. On top of this, the idea is that you take half the time to get to manager than somebody who start as a grad. Afterall, you have alot of experience under your belt.
True. You will start off considerably ahead of normal graduates. From what I've heard as well, before you finish your FT work component, you will usually have your remuneration set at a pretty high level (even though you won't have been paid at that level) so that when you come back to do work in the breaks or as a graduate, you're already aware that your salary will be better than normal grads. As for actual numbers, I think at that stage, salary growth is largely related to performance.
Meads said:
Obviously it takes a long time to do, so another option could be to do a single degree, graduate as a trainee, then do post grad law part time whilst working full time. This way your not a trainee for 6 years.
mmm that's what quite a few people end up planning; but then after 3/4 years of uni, alot of those who originally intended to study law post-grad (eg. my sister) end up just doing their CA, going secondment, and not ever going into law. Of course if you're in tax, then life is very different for you
icycloud said:
I thought you worked part time during the 3rd and 4th years anyway? (In addition to the trainee grant.) I'm confused!
I'm not sure about EY, but you receive the trainee grant for the time where you're doing FULL TIME study; but once you work, you get the salary you were on beforehand (taking into account any increases).
icycloud said:
If tax is law, wouldn't you need to understand law? How can you understand it if you've only done a commerce degree? Or is the law aspect of tax covered in the commerce degree as well?
I'm not sure about other unis but there's a BComm major on Taxation I believe- it's offered with Business Law and Taxation; and then after that you can either go onto Masters of Tax or CA; both of which will further your knowledge of tax.
icycloud said:
But grad law part time is 6 years right?
So basically there are a couple of options (if i'm not mistaken):
1) Commerce (double major) (4 years), then CA.
Thus, by the end of 6 years, you would have BComm (double major)/CA
2) Commerce (Acct.)/Law (6 years), then CA
By the end of 8 years, you would have BComm (Acct.)/Law/CA
3) Commerce (double major), then CA, then part time grad law.
This would take 12 years! *dies*
Hate to emphasise this point but the point of a cadetship was to fast track your career- if you go and do something which'll take that long; is the remuneration/benefits at the end of the time really worth sacrificing all those years of potential full time work whereby you could gain real world experience and get paid proper salaries?
Anyhow your choice!
I bet if you chose 3), you probably wouldn't end up doing the grad law. By then there are much easier ways to getting promoted/salary increases (eg. work better!).... unless you wanted to change jobs of course.
icycloud said:
So during the 6 years you'd still get paid as a trainee? Even after you get your commerce degree after 4 years (and the remaining 2 years is just to finish your law degree)?
You'd have to ask a double degree person that one
I know your salary will get reviewed every year (or more often depending on firm), but whether or not you'll be classified as a grad is another matter- don't the unis hold back your degree/graduate status until you finish your entire double degree? *isn't sure!* ...
Hope this helps you a bit in making your decisions.
Btw, like I said, I don't really know that much about double degree- only a few people I know have attempted a cadetship with one; but ended up cancelling on the cadetship.