CADETSHIPS 2012 Discussion Thread (2 Viewers)

[LOLcadet]

Wow man, why would you expect to get food? It's not really a charity. The work is fun if you enjoy what you're doing, it's as simple as that.

Forgive me if I'm wrong, but I kind of get the impression you're trolling.

nah im not trolling,just asking questions that i can't ask the employers lol
and i've already been offered at a mid-tier firm and have accepted!just tryna see whats the lifestyle like.
and what does trolling even mean exactly?

 

[seremify007]

Again, holy smokes at how long your question list is. After this I don't think I'll be replying anymore for a while unless you concentrate your questions into something a bit easier to read/digest.

lol,i went to info nights but they didn't really answer my questions. as a matter of curiousity,do you go to PwC??
while on an audit, is it fun? as i can't drive will i have to take a taxi everywhere and is that supervised? while on the job do you get any food? do audits get any extra benefits? lets say you've finished your commerce degree in 2013 start..are you going to be in the same position as those graduates whom are starting or will you be a level higher as you've got experience as well? do cadets get respected alot by fellow staff? so would you say BCommerce-UNSW is the best option? my other options are BBusinnes-UTS and BCommerce-Maq...are most cadets from selective schools? how come if you go overtime you don't get extra pay? do you receive the money at the end of each week? as we have probation first 6 months,does that mean we don't get any money during that time? most auditors are which ethnicity?white?asian?indian? and thank you once again

1. I find auditing fun but not everyone else.
2. Transportation is based on most efficient in terms of time/cost for the team. This may or may not be taxis and is also dependent on whether your client is located in a location which is effective for taxis. In some cases even hiring a car might be cheaper.
3. No, you do not get food. Sometimes there may be a work function such as training, meeting, social function, thank you function or some other special occasion where there is food e.g. breakfast, muffins, cupcakes/birthday cake, etc..., or a proper lunch or dinner.
4. Trainees and graduates in my firm at least are pretty much equivalent, and upon graduating from uni you will join the firm as an experienced graduate (rather than a fresh one). In some firms (not mine) you may even be promoted to senior upon rejoining.
5. Depends on firm but at least in my firm, cadets are highly regarded because they usually are more motivated/focussed, able to be moulded, and historically have had a very important role. A lot of partners (including former CEO) were trainees.
6. UTS is the most straightforward/practical option so I'd recommend that unless you have a reason for going to UNSW (e.g. friends).
7. No extra pay if you work overtime- this is a professional occupation and you're paid a salary. Remember since it's a full time salaried job you'll get annual leave, sick leave, etc... and in some firms you may get time off in lieu, additional leave for training or study/exams, charity leave, etc... this is all factored into your salary.
8. Salary is usually paid monthly 2 weeks in advance/2 weeks in arrears.
9. Probation means they can fire you anytime in that period without following the dismissal rules (e.g. performance management/reviews, etc). It has nothing to do with pay.
10. Ethnicity varies based on firm and division- I see people, not colours. I'll say this though, at least in my firm, there's a very good diverse mix of people as there are a lot of people who come from overseas for secondments (and vice versa).

 

[LOLcadet]

for a cadetship in audit;
what is your job title called? is it internal/external audit? or something else?

thank you

 

[seremify007]

for a cadetship in audit;
what is your job title called? is it internal/external audit? or something else?

thank you

Depends on the firm. Typically it'll be "Trainee auditor" or "Cadet".

 

[LOLcadet]

but are yuo involved with internal audits or external audits?

 

[Azure]

Depends on the role you're applying for.

To my knowledge 99% of cadet positions are for external audit.

 

[seremify007]

I'd say the ratio is closer to 70:30, at least in my firm.

And I'm in external audit- typically an internal audit won't be any different since you're still a trainee, a cadet, or an undergraduate consultant.

 

[LOLcadet]

I'd say the ratio is closer to 70:30, at least in my firm.

And I'm in external audit- typically an internal audit won't be any different since you're still a trainee, a cadet, or an undergraduate consultant.

to your knowledge, what would you say the advantages and disadvantages of each are? are when do you get to choose between internal and external audit? because being a cadet,would you be involved in both? (i'm at mid tier firm btw)

 

[seremify007]

to your knowledge, what would you say the advantages and disadvantages of each are? are when do you get to choose between internal and external audit? because being a cadet,would you be involved in both? (i'm at mid tier firm btw)

Have you done absolutely no research into what you applied for?!?! I don't think you grasp the basics of what you've signed up for either in terms of the job or the firm, and you seem very focussed on the trivial and shallow aspects of a cadetship.

In short, all the answers to your questions are either found in Google (i.e. "internal audit vs external audit"), or depend on the firm you are applying for.

 

[jaychouf4n]

Does anyone know where all the cadetships disappeared? I know back in 2008, a far bigger range of companies offered cadetships.

e.g. Zurich, Westpac, UBS, BNP Paribas as well as all the Big 4/other audit firms

I know the GFC hit, but I can't see cadets being a significant expense for any of these companies.

 

[seremify007]

Does anyone know where all the cadetships disappeared? I know back in 2008, a far bigger range of companies offered cadetships.

e.g. Zurich, Westpac, UBS, BNP Paribas as well as all the Big 4/other audit firms

I know the GFC hit, but I can't see cadets being a significant expense for any of these companies.

They were the "business cadetships" which only lasted for a year or two before dying out- despite the name, the roles were very accounting (i.e. daily/monthly/quarterly reporting) and administration based. Not sure how many companies have brought them back but as far as I know they're still quite quiet for now.

ps. The real question on costs isn't so much whether it's a significant expense but whether they can be bothered to run a program, offer career progression, etc... because if people aren't returning after graduating, then it's a waste of effort when they could just employ casuals/contractors to do a similar role for similar money.

 

[jaychouf4n]

As far as I know, the only cadetships which pay for your uni degree are government-related (e.g. audit office of nsw, treasury department, etc) but then you accept a reduced salary and different career progression/structure.

Seriously though for Big 4 cadets- you guys are being paid so much more than those who did the program 5 years ago, or 11 where the leave entitlements were half (i.e. 4 hours a week rather than 7.5), the grant was much lower, and the annual salary was about half of what it is today (from back in '99).

Not necessarily. I know the Zurich Financial Servies cadetship pays your uni fees; albeit for only the 2 years the program runs.

 

[lyounamu]

Business Cadets get paid their uni fee i.e. Zurich, UBS, BNP Paribas, Westpac etc.

 

[xxsupababexx]

I am a UBS cadet and we get paid $100,000 a year with bonuses reaching almost $70,000. We also get lots of hot women with hot and sweaty soft silky skin. Among other benefits are access to hidden accounts so that you can trade all you want without the firm knowing. Best CADETSHIP EVAAAA.

 

[seremify007]

I am a UBS cadet and we get paid $100,000 a year with bonuses reaching almost $70,000. We also get lots of hot women with hot and sweaty soft silky skin. Among other benefits are access to hidden accounts so that you can trade all you want without the firm knowing. Best CADETSHIP EVAAAA.

Good for you and I totally believe you </sarcasm>.

What do you actually do at UBS as a cadet?

 

[xxsupababexx]

Watch either the film Wall Street 2 or Fast and the Furious Tokyo Drift and you wil understand what we cadets do!

Models and bottles baby

[Basically we make loads of cash, and drift riced up cars around parking lots. My favourite is Westfield Bondi's carpark, loads of nice corners round there.

 

[sghguos]

how long does commerce degree (cadetship) take? I have no idea sorry..

how long does commerce degree (cadetship) take? I have no idea sorry..

same as a normal commerce degree? 3 years?

 

[Ritz1024]

Re: how long does commerce degree (cadetship) take? I have no idea sorry..

see stickie thread above, i think 4 years ( dont quote on it tho) just go have a look on UTS website.

 

[xxsupababexx]

Re: how long does commerce degree (cadetship) take? I have no idea sorry..

It depends on how you structure it, generally it can range from 6 years to 27 years if you take one year off and 1 course per year.

 

[seremify007]

Re: how long does commerce degree (cadetship) take? I have no idea sorry..

how long does commerce degree (cadetship) take? I have no idea sorry..

same as a normal commerce degree? 3 years?

Normal commerce degree is 3 years full time (i.e. 3 years * 2 semesters a year * 4 courses a semester). A cadetship usually involves stretching one of those years into two by doing part time or half load of 2 courses per semester whilst working full time thus making it into 4 years. Some people do it faster in 3.5 or even 3 years because they overload.

ps. I merged thread into the main cadetship thread.

Watch either the film Wall Street 2 or Fast and the Furious Tokyo Drift and you wil understand what we cadets do!

Models and bottles baby

[Basically we make loads of cash, and drift riced up cars around parking lots. My favourite is Westfield Bondi's carpark, loads of nice corners round there.

The irony is that you described my life as a cadet pretty well except I didn't go to Bondi Westfield to drift.