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The end of the semester is finally near, and what better way to blow off some steam after exams than to go to the annual DCS and SUSS After Exams Party!
Date: Friday 21st June Theme: 80s Retro
FREE drinks from 9pm-10pm
Drink Specials there onwards. __Tickets__ You can jump online and purchase your tickets at http://www.trybooking.com/Booking/BookingEventSummary.aspx?eid=51581
At door: $15
Note: Priority entry for people with tickets, especially during the hour of free drinks. __Ticket Sales__ Deakin: Thursday 10am onwards @ Mutant way Swinburne: Thursday 10am onwards @ The Atrium (more info regarding this will be posted closer to the date) For more information or to buy tickets, contact one of the following people.. Swinburne University Snow Squad (SUSS): 18+ event, management reserves the right to refuse entry. |
Author: Angela Faherty
Nearly two-thirds of Gen Y claim that financial concerns keep them awake at night, according to an online poll of 1,000 people aged between 18 and 30 years old.
The survey, conducted by REST Industry Super shows that while Gen Y know the importance of saving, many respondents were worried about money and may not have been properly educated about managing finances, both in the short-term and for longer-term investments such as buying a home or retiring.
It found that Gen Y have similar financial concerns to everyone else, citing household bills, health costs and paying off debt as some of the things that keep them “awake at night”.
In particular, saving money is considered important to 87 per cent of Gen Y, with 66 per cent putting money from their regular pay check into savings every month, or most months.
Never been taught
However, the survey found that despite being good accumulators, 61 per cent said they were never taught how to save, while nearly two thirds have not been taught about money by their parents.
In addition, over 70 per cent of Gen Ys do not go to their family for budgeting, savings or investment advice.
Similarly, 35 per cent of Gen Ys said they will not discuss what they earn with friends or family, while those workin
g full time said they were more likely to save for a big event like a holiday or wedding than a house deposit. When it came to trust and money, Gen Ys were more reluctant to lend to friends, with one in four saying that lending cash to their friends affected their savings plans.
Lack of trust
Interestingly, the survey found that Gen Y males are twice as distrusting of financial advisers as women. Damian Hill, chief executive officer of REST, said while it was encouraging that Gen Y had developed a strong culture of saving, he w
as concerned that such a large proportion of the cohort were anxious about money. “Learning how to manage your money while you’re young is critical in securing a strong future,” he said.
“We don’t want to see this generation overwhelmed by financial stress throughout the rest of their working lives, and through to retirement.”
Gen Y comprises individuals born between 1980 and 1994, and this group represented around 21 per cent of the Australian population, according data from the Australian Bureau of Statistics and McCrindle Research.
Originally published by Financial Services Institute of Australasia http://www.finsia.com/
For more articles, sign up to be a FINSIA member at http://www.finsia.com/finsia_membership/join/how_to_apply
| Universities and students “hit hard” in Federal Budget Spending cuts to the higher education portfolio threaten national productivity and Education had a number of winners and losers in the 2013-14 budget. According to Monish Paul, national education sector leader at Deloitte Australia, the winners included:
Meanwhile, he said the government reaffirmed around $2.6 billion of cuts to higher education which broadly included:
Asian century In his budget speech, Treasurer Wayne Swan asserted that Australian students needed to be better educated so that the nation could be more competitive in the Asian Century and to ensure that they are equipped to take up high-skill, high-wage jobs in the future. “We know we’ll only win the economic race in the Asian Century if we win the education race. Our current school funding system is broken, it’s failing our children.” Criticism, business models Still, the government was essentially stripping spending from one part of the education portfolio to support another, a move that was met with criticism. Paul said he questioned whether this was the “best way to build a smarter and more productive economy.” “The cuts have really come out of the higher education sector and they are clearly diverting funds into the school reforms program,” he said. “Funding pressures will obviously continue in the higher education sector.” Job losses The Independent Member for Denison, Andrew Wilkie, joined the National Tertiar y Education Union to condemn the higher education funding cuts. NETU is a union that comprises staff in tertiary education. “This is an attack on tertiary education and our children’s future. I have told NETU officials that I fully support their campaign to reinstate adequate funding to universities,” he said. “In my home state of Tasmania these cuts mean 150 job losses in a sector that is underpinning a sagging economy. Regional universities will be hit the hardest. “I call on the government to abandon its plans to make these brutal cuts. If the
y do not, I call on the Opposition to show they value university education in this country and join me in opposing any legislation to enable these cuts.” Comprising universities’ role Belinda Robinson, chief executive of Universities Australia, claimed the cuts to higher education sector meant that the university sector was one of the “hardest hit” in this budget. Universities Australia is a body that represents universities. She warned the cuts would be counterproductive as they would challenge the ability of universities to maintain the quality of education and research. “And by compromising the role that universities play in lifting national productivity and securing long-term economic prosperity, they will also make it more difficult to put the nation’s budget back in black,” she said. “Every dollar that is lost to university investment represents a reduction in the long-term dividend to the nation.” Further, capping self-education expenses to $2000 per annum would also discourage people from upgrading their skills and qualifications to meet ever-changing labour market needs, said Robinson.
Overall funding has increased Still, while there were cuts to higher education, Paul said higher education expenditure has seen an overall increase to meet student demand. Created By: AB+F Journalist. Originally published by Financial Services Institute of Australasia http://www.finsia.com/ For more articles, sign up to be a FINSIA member at http://www.finsia.com/finsia_membership/join/how_to_apply
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will make it difficult for universities to maintain the quality of education and research, several commentators have claimed.
FREE FINSIA SEMINAR: The Fast Track: an introduction to financial services
Wednesday, 22 May 2013 6.15 – 8.30pm
ANZ, Level 34, 100 Queens Street, Melbourne VIC
Finsia student membership invites you to a free seminar: The Fast Track: An Introduction to Financial Services. The Fast Track exclusive seminar series for students and early-entrants provideyou with real world industry knowledge and connects you to professionals in banking and finance.
Hear from:
> Fiona McNabb F Fin, Monash University
> Jason Fereday SA Fin, Macquarie Bank
> Patrick Nolan F Fin, National Australia Bank
> Colin Campbell F Fin, Wilson HTM
> Jennifer Evans SF Fin, ANZ
Why attend?
> Find out how each sector of the industry really operates
> Hear personal accounts of career journeys and what our speakers do on a day-to-day basis
> Gain exposure to leaders and insights into the real world of financial services
> Build networks with other like-minded students and professionals
> Learn how leaders built their careers and gain tips from the rising stars.
Register now
Domestic banks have taken over from investment banks as the preferred
employer in thebankingand financial services sector, according to research
conducted by Profusion Group.
The survey of over 3,000 respondentsfound the Big Four were found tobe the employers of choice with banking and financial services employees, with 70 per cent preferring domestic banks over international banks (40 per cent).
One reason for the fall in favour among investment banks was the lack of job security, with many international investment banks having reduced employee numbers due to capital scarcity and increased consolidation.
This has prompted many employees to consider domestic banks as more attractive as they offer benefits such as job security, culture and career challenges, the research found.
Loss of prestige
Rod Jones CEO of Profusion Group, said that while employees in the banking and financial services sector were once attracted to the ‘prestige’ associated with working for international investment banks, the landscape post-GFC tells a very different story.
“Instances of high profile international banks such as the Lehman Brothers collapse and the bailout of RBS by the UK government have caused Australian workers to realise that banks with offshore headquarters may have exposure to issues facing global economies,” he said.
Pay gap closed
Jones added that on most parameters, Australia’s Big Four are ranked in the top 15 banks worldwide.
“This has provided them with the opportunity to expand their traditional retail banking capability, in some cases expanding some businesses offshore,” he said.
“Additionally, the gap in remuneration between international investment banks and domestic banks has closed.”
The survey respondents cited that their preference for working for domestic banks focused on the perception that there are more career opportunities, brands look good on their resumes, and benefits programs providea broad range of discountson financial products, competitive salaries and lifestyle benefits.
Originally published by Financial Services Institute of Australasia http://www.finsia.com/
For more articles, sign up to be a FINSIA member at http://www.finsia.com/finsia_membership/join/how_to_apply
About The BAT
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the world. The test covers a range of subjects including Finance,
Global Markets, Investment Banking, Math and Verbal skills.
Why take the BAT
In a fiercely competitive market for financial jobs, students
must differentiate themselves and show genuine passion
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professionals, register for the Deakin University sitting at www.TakeTheBAT.com
The Deakin Commerce Society presents the annual Finance and Economics Careers Event!
Tuesday 4th September 2pm-4pm
This is an excellent opportunity for students to come along and listen to some of the academics and professionals who work in these industries.
If you are a student doing a major in Finance, Economics or Financial Planning you must not miss this!
Room location and speakers to be confirmed shortly.
This is a catered event.
Hope to see you there!
The School of Accounting Economics and Finance and the Deakin Commerce Society (DCS) present the 7th Annual Deakin Think Tank Challenge.
Wednesday 15th August 2012 – 1pm to 5pm – Deakin University, Burwood Campus, HE2.016
Compete as a team of four for the chance to win a share of over $4000 in cash prizes.
Each member of the winning team will receive $500 each, and the runners-up will each receive $250. Best speaker awards are also up for grabs. Two of the best speaker awards amount to $500 and one is worth $250!
Open to both undergraduate and postgraduate students, the Think Tank Hurdle Event will take each team 20 minutes and will test skills such as logical reasoning, group cohesiveness and problem solving. The Hurdle Event will adopt an interview format and no preparation is required.
‘In this situation, how would you react and what would you do to manage the issue?’
‘Give an example of how you have demonstrated teamwork in the past and achieve synergy.’
‘Why is innovation so important in the business environment?’
…These are the type of questions that you and your team of four can expect from the Think Thank Hurdle Event.
From the Hurdle Event, four successful teams will be selected to go on to the Think Tank Final Presentation. This will be a real-world business scenario held on Wednesday 12th September 2012 from 6.00pm to 9.00pm in HD3.008 & HD3.009.
Students, academics and sponsors will attend the final presentation night, which is a highly prestigious event attended by Pro-Vice Chancellor Gael McDonald in 2011.
Register by sending the names and contact details of your team to c.mead@deakin.edu.au. Your team will then be allocated a time slot between 1.00pm and 5.00pm on Wednesday 15th August to present to a judging panel.
Best of luck!
The Deakin Commerce Society is proud to present the 2012 Vacation Roundtable Event for all Commerce students!!! Held on the 8th of August from 12pm to 1:50pm in room lb2.01 on the Elgar Road campus this is an event for all Deakin Commerce students!!!
Presentations will be given by our sponsors, who will present information about the recruitment process to all attending students. In the roundtable format presentations will be made on online applications, graduate interviews, group interviews, professional development and other aspects of the recruitment process
The Vacation Roundtable Event will provide students from all Commerce backgrounds such as Accounting, Finance and Economics with the information needed to successfully gain a vacation position with some of today’s leading professional services firms. The Vacation Roundtable and the information provided can also be useful for other students seeking graduate employment in the immediate future, or first year students wanting to get a step ahead of the competition
At the conclusion of the roundtable, make sure you stick around for the opportunity to talk and mingle with those who will be employing you, whilst enjoying the delicious free food and drinks provided by the DCS!
Please RSVP your attendance to kaang@deakin.edu.au for catering purposes.
Hope to see you all there!
Vacation Work and Beyond – an event held in collaboration with the School of Accounting, Economics and Finance
Monday 30 July 2012
12pm – 2pm
Sports Hall (Building HB), Melbourne Burwood Campus
Registrations are required for this event
What exactly is vacation work?
Vacation work is a fantastic way to gain relevant professional work experience during your summer holiday period. Think about it, rather than sitting on your couch all day, you could be spending your days at PwC, Ernst & Young, KMPG or Deloitte! An added bonus is that completing a vacation work program puts you in a strong position to get into a graduate program.
So, why is this a MUST ATTEND event for commerce, IT and law students?
It will be a great opportunity for you to mingle with the all-important recruiters (the people who screen applications). Come along to network, participate in fun activities, find out about the vacation work programs and eat some pizza!
Registrations are required for this event: https://jobshop.deakin.edu.au/
For more information, please refer to our website: www.deakin.edu.au/fairs<http:/
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