Degrees Add Heat In Job Hunt
The Age
Saturday May 7, 2005
Doing it by the numbers is not enough to maintain a dynamic career in investment and finance, Valerie Khoo reports.
PEOPLE keen to move into the finance industry are increasingly turning to the Securities Institute of Australia (SIA) to get their foot in the door.Christopher Glebatsas, a former computer systems manager, knew he wanted a career change into investment banking."I had family friends who worked in investment banking," says Mr Glebatsas, 25. "I saw what they were doing and realised that's exactly what I wanted to do. I was also attracted to it because I wanted a global skill - one I could transfer easily to be able to work anywhere in the world. I'm also a bit of a capitalist and I wanted to work hard in an industry where I would be rewarded." He embarked on a graduate diploma in applied finance and investment in 2001. "I started with the graduate diploma but then I just kept on going." He completed his masters degree last year. His hard work was recognised by his employer and he was able to make the transition from computer systems manager at ANZ Bank to foreign exchange dealer at ANZ Markets within the investment bank division. The bank also sponsored the masters component of his degree. "I would never have been able to make the switch without the SIA qualification," he says. "It has basically fast-tracked my career." The institute's general manager of membership and marketing, Robert Swinton, says its courses particularly help students looking to develop careers in financial services. "It's the reputation that counts," he says. "The majority of students come to us on recommendation from their colleagues or employers. Employers know, recognise and respect the qualifications and have probably studied with the securities institute themselves. In many cases, it's like an unwritten industry standard and has been for the 38 years we have been providing education to the industry." Origin Energy's forecasting and portfolio analysis manager, Kylie Springall, decided she needed the institute's graduate diploma in applied finance and investment, although she already had a masters in business administration, majoring in finance. "The MBA is much broader and, even though I did finance subjects, I felt that I needed something more solid," she says. "I chose the SIA course over other alternatives because they had quite a practical approach and because of their solid reputation. In terms of finance, it was much more comprehensive than the MBA." Ms Springall, 29, who initially studied electrical engineering, completed her diploma last year and now evaluates risk in a market in which prices are volatile. "I like working in the energy markets because it's a very immature market," she says. "The dynamics are still being learnt and they are not yet fully understood. I like getting into the numbers, looking at the big picture and working out how to best manage the situation." She says an institute qualification is essential for those who want to get ahead in finance. "If I was going for roles in the finance industry in the future, I don't think I could get them without this formal qualification." Institute students typically complete eight subjects part-time over a two-year period. However, the courses are offered via flexible study options.Mr Swinton says students can choose to study by distance education, lectures or workshops or any combination of these modes."We have students in over 50 countries, including places like Kuwait, Mongolia, Zimbabwe, Latvia and Romania." Students can focus on courses in financial markets, financial planning or mortgages. Qualifications range from certificates to masters programs. Mr Glebatsas graduated last month at a ceremony at the Melbourne Convention Centre. He believes his years of study were worth it: "Having a masters degree is a point of difference. If there are 100 people applying for a position, you need two or three degrees under your belt to get your foot in the door. Apart from that, one of the most valuable aspects has been the networks you get. I've been able to build networks and talk to different people in the industry. That makes a big difference, having friends who work in different companies." Those networks have paid off for Mr Glebatsas, who has received three job offers since he completed his degree.
© 2005 The Age