Quick question, BAcc (UTS) or Cadetship (@ one of the Big 4)? because BAcc is also sponsored by the Big 4 and others and you get to choose where you want to work for your 18 months of industry placement.
You don't necessarily get to choose where you work, particularly if everyone wants to do their internships at the big 4.
With BAcc, it's $45,000 over 3 years (tax-free) and statistically, 98% of graduates have starting salaries of $65k+, and also keeping in mind that they would also enjoy a better life at uni since they dont work full time.
I doubt it. I think graduate salaries are standardised across Chartered Accountant firms, or something along those lines. And the figures are nowhere near as high.
With some cadetships, upon graduation you return to the firm as a Senior Accountant or Senior Graduate, with 2 years of full time experience under your belt, meaning you have a great advantage over other graduates.
However, as a coop, there's a specially created 'position' for each intern as they complete their 6 months. But realistically, the company won't invest as much time in training and teaching you, and from what I've heard the work is less meaningful in that you're there for the experience rather than as an employee. Also part of your scholarship in 3rd year is conditional on accepting an offer at a sponsor firm.
Also in terms of career progression and scope of learning, 2 years at a big 4 will look better than a few 6 month internships. Keep in mind many commerce/business graduates will also have internships under their belt.
I am only considering monetary and the short term because I have already weighed up the other advantages and disadvantages in relation to both programs and i guess the only aspect that i'm not sure of relates to the salaries/monetary benefits of both. As you can see, my first post was in regards to salaries as such.
The monetary benefits should not even be something to consider. I've done the calculations and it works out pretty much the same, even factoring in tax.
Reiterating what seremify said, it really depends on what you want out of your work experience.
If you want career progression and know what you want out of an accounting career, go for a cadetship.
If you just want to 'have a go' at being an accountant in different companies and possibly in different roles, eg. if you're unsure which service line you want to go into, or whether you want to be an accountant in an insurance company, big 4 or whatever, then go for a coop.
Personally, I chose a cadetship over the BAcc Coop, and of the dozen or so people I know who also received offers, none of them went with BAcc either.
Another anti-coop post lol, but seems like you've been fed too many pro-coop views, so its probably good for you.
