Accountancy – discovering more about the business world
I’m delighted to start 2012 with a guest post from an LSE Alumni. Arnab Datta graduated from LSE in 2008 and is now a Chartered Accountant working with KPMG. Below he gives a personal insight into the what a career in accountancy can offer LSE students and recent graduates.
LSE Alumni Arnab Datta
After going through all of the application stages (it is not as tough as it sounds!), I joined KPMG on the ACA (ICAEW) Graduate Training Scheme. I chose to study the ACA qualification because it provides a solid base for a future career in business. Also, it keeps my options open for longer and is internationally recognised.
My induction to KPMG was interesting, since I attended the Global Audit Event in Athens where there were delegates from European countries, USA and Canada. Back in the UK, I have worked on and supervised audits of companies in different industries ranging from Financial Services to Media and Travel. Audit involves going to clients’ sites and checking their accounting records to ensure that none of the numbers in their financial statements have been ‘materially misstated’.
Although the work involves analysis in spreadsheets, one important part is building good relationships with clients to receive information promptly and get answers to questions. Also, good organisational and project management skills are required, since you need to juggle different tasks at any one time.
I have gained experience of the wider firm with secondments to other business areas. These have included a role as Assistant to the Chief Economist, where I analysed market data and attended the Institute for Fiscal Studies (IFS) Pre-Budget Report analysis, where journalists from the BBC and ITN were present. Also, I have worked in Tax, preparing income tax and capital gains calculations for various clients.
My other recent experience has been in Forensic, where accountants investigate fraud and money laundering claims and solve disputes between two parties over the value of companies or where there is disagreement over assets during a couple’s divorce. This type of advisory work is quite exciting as each project is different.
Overall, the best research is speaking to current trainees to discover more about their experiences. Also, find out as much as you can about the ACA exams, since they are a major commitment during your training contract. When choosing a training organisation, do not only consider its reputation but look for somewhere where you will enjoy working and learning for three years.
ARNAB DATTA
BSc (Hons) Economics and Economic History (LSE)
Chartered Accountant (ACA), KPMG, London
Email: arnab.datta@kpmg.co.uk
In their own words – what employers are really looking for
The Careers team here have been working with key employers across a range of sectors to produce videos focusing on a number of areas including CVs, commercial awareness and preparing for assessment centres.
We’re keen to make these great new resources accessible to the whole LSE community – whether you’re a current student, or Alumni, and have created a YouTube LSE Careers channel to make this possible.
To see more, and understand what employers are really looking for in candidates, sign up to our You Tube Channel to get regular updates as we add more videos.
Sign up for graduate opportunities
Sign up to find out how we can help...
My colleague Redvers Lee spends a lot of time sourcing great opportunities for LSE Graduates – engaging with employers across a range of sectors. If you’ve recently graduated and are still on the look out for a job that will that will provide an excellent start to your career after LSE then it’s well worth signing up to our Graduate Advance survey. The survey enables us to keep you updated with opportunities in your particular areas of interest. Here a just a few that have come our way this week:
* Telecoms and Media Consultancy opportunities for French and English Speakers with Greenwich Consulting
* International Graduate Trainee roles in the Renewables Industry with Statkraft
* Paid Consultancy Internship focusing on cost reduction with Alma Consulting Group
Further details of how to apply to the roles above (and many more…) are available via ‘My Careers Service‘
Get Yourself Hired…
At LSE we are in the midst of ‘Milkround’ season – with graduate recruiters on campus virtually every day. Busy times indeed…
However for readers of this blog who might looking beyond graduate schemes, or are still less than certain about what to do next I thought it could be useful to flag up some resources for ‘finding out more about yourself’. We’ve been working on new area of our website which focuses on just that, and also career planning in general. It’s an open access area, so available to LSE Alumni, whenever they may have graduated. Take a look, follow up some of our suggestions, and let us know what you think.
In the same spirit of ‘active career research’ (ie. doing things that help you find a job). It could be worth taking a look at a couple of areas on the BBC website. I tried out their CV quiz today and was relieved to get full marks – see if you can match my score. You can also try the ‘Get Yourself Hired‘ Test, which aims give you some personal insight and also enable “researchers to build a better picture of employment prospects for young people, and find out what makes a successful jobseeker.”
As ever, if you’d like to discuss quiz results (careers focused ones only please!), jobseeking strategies or life after LSE then drop us a line
LSE Careers Fairs – a guide for recent Alumni
The Autumn recruitment season has begun...
Tomorrow night is the LSE Volunteering Fair – our first large scale careers event of the new academic year. Looking forward we’re excited to host a diverse range of world class organisations onto campus during the forthcoming months. At each fair we have an allocation of spaces for LSE Alumni to attend, and I want to use this post to highlight the dates of our 2011/12 Fairs, also flag up how to secure a space if you are a recent LSE graduate.
* Volunteering Fair – Tuesday 4 October
* Consultancy Fair – Thursday 6 October
* Banking & Financial Services Fair – Tuesday 11 & Thursday 13 October
* Internships Fair – Thursday 27 October
* UK Public Sector & Policy Fair – Tuesday 1 November
* Business & Management Fair – Thursday 3 November
* International Organisations’ Day – Saturday 12 November
* Law Fair – Tuesday 8 & Thursday 10 November
* Marketing, Media & Communications Fair – Thursday 23 February 2012
* European Internships Fair – Friday 16 March 2012
* Jobs Fair – Thursday 14 June 2012
Places for each fair are released a week before the event – LSE Alumni should go to Houghton Street Online and follow links to ‘Mentoring and Careers’ to request a space.
If you successfully register to come along to one of our Fairs (and we hope you do!) the following advice could help you get the most from your evening back on campus.
* Do your research
Find out which organisations are attending and . Think of some relevant and interesting questions to ask the representatives on the stand – go beyond what can be easily googled. Make yourself memorable – for the right reasons – by showing enthusiasm, listening and engaging with organisations.
* Be strategic with your time
Our fairs can be busy – use the research you’ve done prior to the event to target the ones that interest you the most. Our fair brochures (available online) will provide you with a map to identify where organisations are located.
* Dress smartly
Create a positive and professional image – wearing a suit is NOT over the top, particularly at Fairs such as Consultancy and Banking and Finance.
* Do not expect to get hired on the night
Recruitment teams in the UK do not use our Fairs to undertake ‘on campus’ recruitment. They will provide you with advice on the best way to proceed in terms of applying to them, timescales and an insight into the selection process.
* Do aim to make some positive contacts and acquire knowledge for your job search
Smile, shake hands, accept business cards if they are offered. Use the knowledge you’ve acquired to strengthen both your application and your performance at interview.
I’ll be working at our Consultancy Fair this Thursday and am looking forward to meeting as many current students, and LSE Alumni, as possible on the night.
International opportunities
Two interesting, and very different, opportunities to promote here – available to recent LSE graduates. I’m always keen to reflect the diversity of LSE career interests – hopefully something this post demonstrates.
Where's your destination?
Firstly – the HSBC International Management programme.
HSBC are looking for recent graduates to join this prestigious management scheme. Their recruitment team have contacted us with details of a presentation taking place in London on the 24th October at HSBC HQ, Canary Wharf for any UK-based students and alumni. The event will provide those attending with a great opportunity to find out more about the programme. Current ‘IMs’ will be on hand to answer questions about their experiences on both a professional and personal level. To reserve a place email im.recruitment@hsbc.com
For those less decided on a career in finance, but keen on travel and developing their language skills the Leonardo da Vinci internship scheme could be worth considering. A 9-week European internship programme,’Leonardo da Vinci’ is the European Community’s vocational training programme. Travel, accommodation and living costs are paid for, and the scheme will enable you to undertake an 8 week internship across a range of organisations. Click here for a personal perspective on what the Leonardo da Vinci programme can offer.
Take ’10 minutes…’ for some careers research
It’s been a little while since our last post on the Graduate Advance blog, but I’m back from my holidays, and across the whole of Careers we’re busy preparing for the autumn term, and recruitment season. As a welcome back I wanted to let LSE Graduate readers know of great new resource we’ve signed up to.
Take time to focus on your career
10 Minutes with…interviews company directors, executives, and business people. They are asked to explain their jobs and day-to-day activities in exactly 10 minutes. The video interviews help you understand the true nature of different roles and the skills required in a variety of sectors including Finance, Corporate Strategy, HR, Marketing.
I’d really encourage you to take a look at this resource. I’ve been at several employer events this week (a big thanks to the grad recruitment teams at Standard Life and Ernst & Young!) and the topic of ‘doing your research’ came up consistently. The candidates who are most successful throughout the application and selection process are those that have done their prep. 10 Minutes with… can really help with this. Even better our subscription enables LSE Alumni, as well as current students, to make the most of this excellent insiders guide.
Click here for a link to the site and details of how to login
Preparing for Employer Aptitude Tests
I’m really pleased to introduce this guest post on aptitude, or psychometric tests, by Edward Mellett, founder of Wikijob. The practical approach he takes in terms of preparing for these tests is one we completely agree with at LSE Careers. In addition to the links included in the post below it’s worth remembering that practice tests are also available via the LSE Careers website too.
Wikijob Founder Edward Mellet - our guest blogger
Edward writes:
Most of the UK’s largest employers, and in particular finance employers, use numerical, verbal and/or logical reasoning tests to measure various skillsets in graduate and internship level job applicants. These types of tests allow employers to make better hiring decisions, because they help recruiters evaluate candidates’ abilities to perform tasks similar to those they will be performing on a daily basis if they get the job.
What are Aptitude Tests like?
Employers will usually ask job applicants to sit aptitude tests after an initial job application or CV submission. Tests are usually delivered online at this stage, and after receiving details by email, you will be asked to complete these tests in a quiet environment at home. Aptitude tests usually take about 20 – 30 minutes and feature about 20 – 30 questions. The questions will usually get progressively more difficult throughout the test so it is important to work quickly at the start to ensure you finish.
Aptitude tests can also be delivered in a paper-based format. If this is the case, you will usually find them at a later stage of an employer’s interview process, or as part of an assessment centre.
How to prepare for Aptitude Tests
It is usually helpful to familiarize yourself with both the format of aptitude tests and the concepts they are going to be testing, before you take them.
For example, reading GCSE level maths revision guides before taking a numerical reasoning test can be hugely useful in refreshing your numerical ability. Most reasoning tests are difficult, but not more difficult than GCSE level maths, verbal or logical reasoning style tests.
Taking practice aptitude tests, similar to these practice verbal reasoning tests and practice numerical reasoning tests on WikiJob.co.uk can also be very useful in the days leading up to a real test, as you be much more familiar with this type of activity and with practice, you will be much more likely to ace your interviews and get a graduate job.
Different types of Aptitude Tests
There are several different styles of aptitude tests used by employers for graduate recruitment. The most common types are numerical and verbal reasoning tests, but certain employers, such as engineering employers for example, will use other types of test too, such as spatial and mechanical ability type tests.
Abstract Reasoning Tests
These assess your ability to understand complex concepts and assimilate new information beyond previous experience. The test items require you to recognise patterns and similarities between shapes and figures. As a measure of reasoning it is independent of attainment and can be used to provide an indication of intellectual potential
Numerical Ability Tests
These assess your ability to use numbers in a logical and rational way. These tests require only a basic level of education in order to successfully complete and are therefore measuring numerical ability rather than educational achievement. The test items involve number series, numerical transformations, relationships between numbers and numerical computations.
Verbal Ability Tests
These assess your ability to perceive and understand concepts and ideas expressed verbally. While these test are designed to measure reasoning ability rather than educational achievement, it is generally recognised that verbal reasoning test scores are sensitive to educational factors.
Spatial Ability Tests
These assess your ability to manipulate shapes in two dimensions or to visualize three-dimensional objects presented as two-dimensional pictures. There is a strong correlation between high spatial visualization skills and success in science and mathematics.
Mechanical Aptitude Tests
These assess your understanding of physical and mechanical principles including an understanding of cause-effect relationships between mechanical components. Mechanical reasoning tests are used to select for a wide range of jobs including the military, police forces, fire services, as well as many engineering occupations.
For further information on aptitude tests visit Wikijob.co.uk
Graduated this year with a 2.2?
I’ve been running this blog for a couple of years now and checking through the stats some of the posts that receive the most hits are those that focus on what to do if you graduate with a 2.2.
I’m currently working with a number of LSE grads who’ve just finished their studies and looking to find a job with a 2.2 degree. As a result I thought it would be useful to pass on some practical advice about approaching the job market if you didn’t graduate with with 2.1.
1) Firstly..though it may feel like it at the moment, it is NOT the end of the world. LSE grads I’ve worked with in the past have taken their 2.2 degrees into a range of jobs in accountancy, business, PR and media. Read here for a example of one graduate it was my pleasure to work with.
2) Be realistic. You may need to change your choice of employer and career path, at least for the time being. This doesn’t involve thinking that all graduate jobs are beyond your reach but it will involve thinking creatively. If your career plan is to go into finance think about what it is that appeals to you about this sector and which employers might be able to offer you oportunities that can develop your skills, add to your CV and pay you a salary too (always important).
3) Do your research. There are firms out there who are prepared to be flexible regarding 2.2s – identify who they are. Graduate sites such as Target Jobs and Milkround can be useful. Make sure you check the LSE Careers website regularly for jobs and sign up for our Graduate Advance survey, to receive targeted job alerts for a range of opportunities available NOW.
4) Think medium sized and small firm as well as big. Larger companies often attract a bigger pool and candidates and can afford to be more restrictive in their entry requirements.
5) Do not lie about your degree result (it’s amazing how often I’m asked about whether this is a good idea…)
6) Identify 3 positive things about your degree. I know this is tough when ‘positive’ may well be the last thing you’re feeling about your studies. However to secure a job you will need to go through an interview process, and any potential employer will prboably ask about your degree and what you gained from it. It’s important to be able to think about skills developed, rather than just focusing on the overall result.
7) Come along to a session I’m running this Friday about finding jobs when you don’t have a 2.1 in your back pocket. See LSE Career for more details.
Finally, to demonstrate that there are graduate schemes out there that are open to students with 2.2s here are just a few I’ve come across. They may not be open yet, but it’s worth keeping an eye open for when they do. I’ll keep updating the blog with more information, so keep reading, and stay in touch with us in LSE Careers too.
Network Rail – Finance Programme
NHS - Graduate Management Scheme
The Cooperative – graduate programmes across finance and management
John Lewis – minimum 2:2 requirement for Retail Management and IT Schemes
Centrica – graduate schemes in finance, HR and marketing
RBS – Retail Business leadership Scheme
Jaguar Land Rover – all graduate scheme
Recent grad interested in working at LSE? Find out more.
Here in the Careers Service we aim to actively support our recent graduates, and it’s been really great to work with a number of LSE Alumni who have become colleagues. Some are still working here with us, while others have headed off to other jobs and organisations including Macqurie, Ernst & Young, the House of Lords and NYU.
Would you like to join our team at LSE?
We’re currently looking for some bright, enthusiastic new grads to join us and I’d like to highlight a couple of ‘live’ job opportunities, here at LSE Careers and also as a Property and Space Management Intern in the Estates team at LSE.
In Careers we’re looking to recruit an Employer Liaison Assistant, working directly with employers to source jobs and join the team at some of our high profile events. With a start date of early august, this position has a six month contact and a salary of £23,154.
The Property and Space Management Internship would provide the right candidate with excellent experience of logistics, planning and project management. This role has an 11 month contract and a salary of £23,154.
The closing date for both positions is 15th July.
For more information about either job, or to submit an application please contact my colleague Redvers Lee
