Cadetship VS Co-op (2 Viewers)

[lyounamu]

I am sure this has been discussed before. All the discussions are scattered throughout the forum.

So I have decided to make a thread about this.

Please compare them in terms of workload, pay, prestige (?), difficulty of getting in and etc.

Thanks!

 

[Vagabond]

I prefer the idea of a cadetship as you actually get properly involved with a firm... performance rated... set yourself up for promotion/fasttracking... With a co-op at the end of the day you're a competitive grad but you start on page 1.. Say you're at the big4 for two years you actually get a chance to gain consistency on clients, become more senior, coach others, etc. ... things you'll never get to do on a co-op. You're essentially starting a graduate job with lower expectations .. it's like one free shot at seeing what an opportunity it like.

That said the cadetship is *a lot more work* juggling work/uni at the sametime... It'll really make you appreciate going back to full-time uni.

I am of course assuming you're talking about accounting, if not I wouldn't know.

Pay is obviously more for the cadetship as you're working and receiving a salary rather than an allowance/scholarship.

Prestige depends on the company you work for (a cadetship could be with anyone from PwC/KPMG to Accountants R Us) ... Likewise there's a difference between UNSW and UTS for co ops so the question transcends categories...

Difficulty getting in? I'm concerned if that's a factor for you..

 

[lyounamu]

Oh, I really appreciate it.

That really summed it up very nicely.

And yes, I am talking about Accounting Cadetship, sorry for being ambiguous in that regards.

 

[lyounamu]

Another question:

I just had a brief look at the structure of the cadetship but there are years when you just study full time...

During those time, do you still still work and get paid??? Or is it just you working at uni?

 

[spence]

Another question:

I just had a brief look at the structure of the cadetship but there are years when you just study full time...

During those time, do you still still work and get paid??? Or is it just you working at uni?

I'm pretty sure when you're full time at uni, you work part time

 

[Vagabond]

90% of people would be just doing uni fulltime.. or if they're working working outside their cadetship...

After 2 years of work though most people generally want to take time and enjoy the rest of their youth

Until now traditionally when u go back to fulltime you receive a decent study allowance from the firm.. something like 10k a year (i think - very rough ballpark) for doing nothing... conditional that you return as a grad though.

Keep in mind though that we're in a recession so its unlikely they'll be leaping at you to extend your contract more than they would have historically

 

[lyounamu]

90% of people would be just doing uni fulltime.. or if they're working working outside their cadetship...

After 2 years of work though most people generally want to take time and enjoy the rest of their youth

Until now traditionally when u go back to fulltime you receive a decent study allowance from the firm.. something like 10k a year (i think - very rough ballpark) for doing nothing... conditional that you return as a grad though.

Keep in mind though that we're in a recession so its unlikely they'll be leaping at you to extend your contract more than they would have historically

Thank you! I really get it now.

Wow, I am interested in Cadetship now...lol

BTW, thanks to spence as well.


Another question (sorry): According to Co-op, they have some industrial placement as well...does anyone have idea as to how long it is?

And when you are off the co-op or cadetship (as in completed them), who would be deemed to be considered more senior (in terms of experience, level of knowledge and etc.) and hence in a upper position of preference when it comes to employment

 

[jenecis]

Thank you! I really get it now.

Wow, I am interested in Cadetship now...lol

BTW, thanks to spence as well.


Another question (sorry): According to Co-op, they have some industrial placement as well...does anyone have idea as to how long it is?

And when you are off the co-op or cadetship (as in completed them), who would be deemed to be considered more senior (in terms of experience, level of knowledge and etc.) and hence in a upper position of preference when it comes to employment

Co-op industrial placement varies depending on which stream you get into (e.g. finance, IT, marketing etc.) But it's usually around 18 months, however my Co-op friend says that it's "dodgy", though I'm not quite sure what she meant by this..

To answer your question, I would choose a cadetship over a co-op any day. I was offerred cadetships from various companies and a co-op, so I was contemplating the same question just a year ago. Basically, I chose a cadetship because:
1) It pays better (Co-op - you only get $15 000/year, but with cadetships, it's usually more depending on the company and the hours you work, plus the company normally pays for your textbooks and uni fees (around an extra $8000 + that you won't have to spend).
2) You get more work experience, which is going to look more impressive on your resume. Compare 'I worked 4 years at a major company' with 'I have 18 months of 'industrial training''
3) You actually get involved in the culture of the company. Being a regular employee, you get to know your fellow colleagues/superiors and interact with them on a daily basis, so you can enhance your interpersonal skills/corporate ettiquette. Also, at my company, we have major staff parties which are really fun. I went to one last week and I had a great time.
4) UNSW overhypes its 'Coop program'. Seriously, it's not as amazing as they say it is and it isn't that hard to get in.
5) The promoter of the UNSW Co-op program told me 'to take the cadetship' when I presented my situation with her.

 

[lyounamu]

^Thank you so much!!!

I really appreciate that.

 

[lyounamu]

Another Q:

If you do decide to take up cadetship and work at a firm full time and study part time...how often do you work?

Do you go to work everyday and stuff?

Please provide some brief life routine...if you do decide to take up cadetship

 

[karnage]

Another Q:

If you do decide to take up cadetship and work at a firm full time and study part time...how often do you work?

Do you go to work everyday and stuff?

Please provide some brief life routine...if you do decide to take up cadetship

Yea, my mate works 9-5 weekdays and goes uni at night 3 times a week.

 

[lyounamu]

Yea, my mate works 9-5 weekdays and goes uni at night 3 times a week.

Oh, that sounds like a hectic life routine. Thanks for the great information.

Another Q: What is the most prestigious cadetship company? Is there any difference between Big 4?

 

[Vagabond]

Oh, that sounds like a hectic life routine. Thanks for the great information.

Another Q: What is the most prestigious cadetship company? Is there any difference between Big 4?

In the current market I would apply to everything then worry about what's better when/if you get any offers

 

[lyounamu]

In the current market I would apply to everything then worry about what's better when/if you get any offers

Can you apply to everything? I thought you could only apply to limited number of companies...

 

[Vagabond]

Lol how'd you get to that thought?

How would the firms know who else you applied to?

 

[knightsfan2707]

Im doing a cadetship at a mid-tier firm and im loving it. I get a WHOLE day off for uni, so only work 4 days a week. Working in a mid-tier firm means less pressure to work hard in a more laid back environment. Peeps in the big 4 are pushed (which is a good thing i guess), but being relaxed gives u a chance to lift ur game in uni etc. And I applied for every single firm in that offered cadetships so u can do as many as u like. Id advise not to pick one purely on prestige (big 4) but to really consider the other priorities in ur life...but if ur up to the challenge then good on you.

 

[seremify007]

I think working hours-wise cadets (from my generation at least) used to work a full-time load of 5 days 9-5pm with 4 hours of leave per week to attend classes (not a problem since classes typically went from either 4pm or 5pm onwards gving you plenty of time to relax and get yourself there in one piece)... but my understanding is that now most Big4 firms offer the 4 day week with 1 full day of leave to attend uni. Best to confirm with the individual firms when the process starts up in May.

Also people missed out on this Q...

And when you are off the co-op or cadetship (as in completed them), who would be deemed to be considered more senior (in terms of experience, level of knowledge and etc.) and hence in a upper position of preference when it comes to employment

It really depends on which company/firm. If you go back as a grad to the firm you did your cadetship at you will definitely be at a higher level. However if it's a normal grad spot at another company which neither of the cadet or coop have worked at previously, they both start off on the same level. THe only area I'd be unsure about is if a coop went back to a company they did IT at- in which case it seems reasonable to expect them to be slightly more skilled than a fresh grad who used to be a cadet; although, I don't think it would be a significant difference like a returning cadet.

In terms of employment preference, if it's in an area where the cadet is skilled (e.g. ex-audit? or ex-FS?) then obviously the cadet since full time work and proper training is far superior to 'industrial training', but if it's in a non-directly-applicable field, both are on even footing... perhaps even the coop has the upper hand since they can say they've seen more different workplaces and picked this one?

 

[lyounamu]

Um, I don't get how Co-op Program says 18 months of industrial placement...

Does it mean that you work for 18 months?

 

[seremify007]

Um, I don't get how Co-op Program says 18 months of industrial placement...

Does it mean that you work for 18 months?

I'm not a coop so I could be wrong here... but here goes!

Basically your degree is stretched into 4 years (from 3) and throughout those 4 years are 3 '6-month' industrial placements where you work. Normally you do 4 subjects per semester at uni when doing full time uni, but during your industrial placements, you are likely to only do 1 or 2 (max) so that you can focus on your work. These 6 month work placements are pretty good as you get wide exposure to different industries (e.g. professional services, private sector, etc) but as you'd expect, the exposure is limited to the 6 month stint (i.e. it's very short and you aren't really a FTE). Good way to see if you like the company culture and the point of the IT is also to help you decide if you'd like to go back to that same company and work in the future.

 

[vickrim]

Co-op industrial placement varies depending on which stream you get into (e.g. finance, IT, marketing etc.) But it's usually around 18 months, however my Co-op friend says that it's "dodgy", though I'm not quite sure what she meant by this..

To answer your question, I would choose a cadetship over a co-op any day. I was offerred cadetships from various companies and a co-op, so I was contemplating the same question just a year ago. Basically, I chose a cadetship because:
1) It pays better (Co-op - you only get $15 000/year, but with cadetships, it's usually more depending on the company and the hours you work, plus the company normally pays for your textbooks and uni fees (around an extra $8000 + that you won't have to spend).
2) You get more work experience, which is going to look more impressive on your resume. Compare 'I worked 4 years at a major company' with 'I have 18 months of 'industrial training''
3) You actually get involved in the culture of the company. Being a regular employee, you get to know your fellow colleagues/superiors and interact with them on a daily basis, so you can enhance your interpersonal skills/corporate ettiquette. Also, at my company, we have major staff parties which are really fun. I went to one last week and I had a great time.
4) UNSW overhypes its 'Coop program'. Seriously, it's not as amazing as they say it is and it isn't that hard to get in.
5) The promoter of the UNSW Co-op program told me 'to take the cadetship' when I presented my situation with her.

Sorry, Iyounamu if I'm hijacking your thread but I've a few questions and it doesn't seem very appropriate to open another...

jenecis, would you mind revealing to us what were some of the extracurricular activities you had on your CV/resume/application? Unfortunately, I were a bludger in year 10 and I went to talk to my career advisor last term about applying and stuff. Basically, her answer was "it's too late..., you should have started thinking about it in year 10. you hvae no experience" which I must stress is quite true...
However, I'm under the impression that it might not be truly TOO late yet if I step up my game this year and next in terms of extracurricular stuff and trying to gain experience..?
The thing is, I really don't know where to start. I'm very much a book-at-home person and feel a bit intimidated by everything. I honestly don't know where or how to gain some experience...

Oh and would anyone know about how many programs are offered every year... from a firm, altogether, whatever?

My career advisor says that basically thousands and thousands of top students apply so your chance of getting in is like...