Chaikin or Co-op? - Too much choice! (1 Viewer)

[bel12345]

Recently I received a conditional offer for both the Finance Co-op and the Malcolm Chaikin Scholarship in Commerce/Advanced Mathematics.

I need some advice in determining the best option (I know i'm spoilt).

Would a summer internship match the Industrial Training in the Co-op?
Do you have to repay the scholarship if you decide to change courses (Chaikin)?

Thanks heaps

 

[xseastar]

Hey congrats on getting both of those!

I've never heard of the Chaikin scholarship but sounds like both of the two choices will ONLY allow you to do 1 commerce major (Finance).

Definitely the Finance Co-op will only allow you to do a major in Finance (almost all the other Co-ops allow you to do two majors).

In answer to your question about repaying the scholarship, it depends on when you change courses. You have to repay up to the last Industrial Training you've taken. Ie, if you change courses after the second semester of first year, you'll have to repay ALL the money. If you change courses in second year, you have to repay the money received after the first industrial training. Does that make sense?

Other things to remember that if you take the Fin Co-op:
- You won't have to worry about having to apply for summer internships, which can be very competitive especially for the 'better' companies, but have them included as part of your course
- You get near-instant friends from the Co-op Program and also plenty of 'Co-op exclusive' events
- You have to maintain Distinction average (>75)

Sorry I can't help you with the Chaikin scholarship but hope the info above helps you!

Good luck with your choice!

 

[akqjt]

I think your career goals will decide this question for you. If you strongly want to work in finance, then you can't pass up the co-op because you will get 1.5 years of experience practically given to you. I don't know if Chaikin offers the same, but at least you can do more than 1 major with Chaikin from what I can tell.

 

[akqjt]

I was in exactly the same situation, and I turned down co-op (obviously a bit late for you to change your decision) because if you're good enough to get co-op, you're good enough to get vac work anyway.

Being offered a co-op position OUT OF HIGH SCHOOL is in NO WAY even a marginal guarantee of getting offered vac work down the track. Don't say things like without experience - the beauty of co-op is that you get experience given to you rather than fight for it with hundreds of other equally able and 'attractive' interns/grads. Even if this Chaikin scholarship requires you to maintain a HD average and whatever other criteria, there are still no guarantees - that's why co-op is so good because it is practically guaranteed.

To OP, like I said. You should decide where you want your career to (potentially) head and go from there. You can always change later if you are unhappy.

 

[bel12345]

Hey thanks peeps.

In the end I decided to accept the Chaikin Scholarship.


These reasons affected my decision:

• Flexibility of the scholarship - No need to repay, double degree (two career paths), no restriction on majors
• Prestige of the scholarship (I am assuming that this would make it easier to get internships)
• I also sought advice from friends who work in the financial sector and they said that the bankers etc don't have enough maths knowledge.

Anywayzzzzz... I hope I made the right choice

Thanks again!

 

[lyounamu]

Hey thanks peeps.

In the end I decided to accept the Chaikin Scholarship.



These reasons affected my decision:

• Flexibility of the scholarship - No need to repay, double degree (two career paths), no restriction on majors
• Prestige of the scholarship (I am assuming that this would make it easier to get internships)
• I also sought advice from friends who work in the financial sector and they said that the bankers etc don't have enough maths knowledge.

Anywayzzzzz... I hope I made the right choice

Thanks again!

Yeah, you made a right decision.

BTW, which course are you doing?

 

[lyounamu]

lol I have spoken to a fair few people in companies like glaxosmith, resmed, exxon and they said the students they get are pretty much the same as co-op people (plus they already said just to ring them when industrial exp is necessary - for engineering only tho)

and obviously its not based on personal experience, but from all of the people i've talked to doing eng or sci...

edit: plus i never said it was a guarantee...

yeah

congrats on malcolm chaikin. btw, which course are you doing? law + engineering?

 

[lyounamu]

ahh thanks

nah eng/law isn't covered, so I'm going eng/sci probs doing phys or chem for the sci bit and aerospace for the eng bit...

what exactly are you going for now? actuarial?

comm (actuarial)/sci (maths + stats).

I found that comm (actuarial)/law isn't that great. Besides, I love maths too much to let it pass.

 

[lyounamu]

haha maths ftw

fair enough - see you at unsw lol

yep yep

 

[Vagabond]

I personally wouldn't pass the finance co-op for anything ... flexibility in two career paths isnt useful when you'll be taking one ...

I met some finance co-op kids who have worked in M&A, research AND trading and are still graduating a year before most of their 5-year degree peers.

They can essentially hand-pick what area of an investment bank they want to start off on a 6-figure salary in.