The Australian financial sector is demanding ‘work-ready’ graduates who can show some evidence of hands-on work experience following a lack of practical skills in job applications. 
 
Financial practitioners and academics agree that most employees require a degree to get through the door but that isn’t enough to progress their career to the next stage.  
 
The Institute’s New South Wales General Manager, Ms Lisette Cochineas said: “It's important that students have a good understanding around the bigger picture of the business to prepare them for the work environment. Internships and work experience placements are a good way to gain exposure to working life, before jumping in the deep end.” 
 
In collaboration with NSW universities, the Institute and accredited firms are continuing to take a proactive approach to counteract this issue by offering work experience placements to accounting, finance and commerce students undergoing their first and second year of university.  
 
“We have introduced the Chartered Accountant Achiever Work Experience program, which gives commerce, government and accounting practice firms direct access to high calibre accounting students. The students also have the opportunity to develop practical skills and even secure a permanent position with the firm.” 
 
“Work experience helps to separate one candidate from another and while a degree is an acceptable minimum, most employers expect some evidence of hands-on practical experience,” continued Ms Cochineas. 
 
Deloitte, one of the participating firms says the program offers a fantastic opportunity to engage with the top accounting students across a range of universities earlier than they would otherwise be able to.  
 
Deloitte’s NSW Graduate Recruitment Manager, Samantha Walton said: “By identifying and engaging these ‘bright young stars’ early in their university career, we can provide the students with key learning experiences during their first summer vacation and add value to their academic studies going forward.  
 
“The students are able to experience the Deloitte work environment first-hand and find out what makes Deloitte an inspiring, innovative organisation to be part of,” Ms Walton continued. 
 
Mr Shannon Cox, currently studying at the University of Sydney, was awarded the placement with Deloitte and was one of 40 candidates selected for the program. Mr Cox said, “I opted to be apart of the program as I wanted to pursue a career in the financial services sector and I’m looking to acquire practical industry experience.”  
 
The work experience placements are being offered from two to 12 weeks with Institute accredited firms and will take place during the 2008 summer break.