30 November 2015

How to turn your internship into a career

I’ve finished my internship, the university semester is over, and I’m on the road to Dubbo with a group of thirty something volunteers on the annual Law Society and Compass road trip to talk to high school students about higher education. With a clear head, and looking outside to the NSW countryside, I’m thinking about the value of this internship, and how it impacted those who have done it before me, and those who will benefit from it in the future.

Having such an immense experience like the Industry Placement Program (IPP), especially for someone who is new to the workplace, has had such a profound effect on understanding what career path to pursue. Looking back on the experience, there have been so many opportunities to grow and broaden my horizons before I settle on exactly what I want to do.

Thinking of doing the IPP or have already done one? It’s a given fact that some people have a better experience than others at their workplace, but everyone is going to make it to the end of their placement and the question on your mind might be, what do I make of this experience afterwards? In this second post, following my first submission to the Big Opportunity Blog, I look towards 5 aspects of how the IPP affects one’s outlook on potential business careers for the overwhelming majority who aren’t sure where to go.

Reflect
Writing the journal entries as part of the assessments for the IPP was a great way of understanding how I worked best and what I had to improve. But what’s more important was writing down at the end of every day a couple of sentences, dot points or paragraphs about how the day had gone. Rather than a simple recount, it detailed steps to improve my professionalism and performance, and shows your supervisor that you can rise above. Whether it be an internal reflection or external reflection via the mode of feedback, I think many will find that it is extremely powerful.

Obsess
Obsession. It isn’t necessarily associated with being desirable. However, when asking yourself if you could really drive a career in a certain industry, you’ve got to ask yourself the question. Am I obsessed with the role I am taking on, so much so, that I’m going to fight my way to the top? Are you going to give up less important things to focus on this? Utilise the power of obsession to reach your goals – set yourself the challenge of achieving something every day or every week and power through it. Everyday, I saw my colleagues dedicating more and more of themselves to their work and their colleagues, all because they were obsessed and they had a drive. Are you obsessed with what you’re doing?

Potential
Different industries, different roles and different companies provide you with the potential to grow at different rates. So which do you choose? I make the comparison between working for private companies and the government. There are many arguments that big multi-national companies can provide you with the training and the name to start you off on the right track, with the potential to grow sustainably over time. As you probably know, most people enter into multi-nationals for their training and name, and after 3-4 years move onto another company, most likely in the industry they specialise in. In comparison, government roles tend to have a high growth potential within the first 5-6 years, but then plateau out as you get to higher, managerial roles, as there are only so many senior positions available. Obviously, there are other options too – small start-ups vs. large multinationals, and the like. It goes without saying that the position you choose should be one that challenges you far beyond what you thought about your potential.

Culture
After the internship, after talking to colleagues at work and at uni, and after consulting mentors, I’ve found what’s most important is knowing that work culture in every firm is going to be different and diverse from what you have ever experienced before. And it’s going to take more than ten weeks to realise the in’s and out’s of what it takes to become accustomed to the culture. I remember that the last two weeks was when I really started to get the hang of things. Maybe I’m just a slow learner, or more probably because this was my first professional role. Everyone wants to hire people that they can work with. Being in a junior role, it’s always important to have a genuine smile on your face, to be enthusiastic and willing to do whatever is required of you.

Endless opportunities
The IPP experience has been an absolutely great one. I remember at the start of the semester the copious amount of people who told me, “do the internship, you need all the experience you can get”, whilst others were telling me, “go on that academic exchange to the University of California”, as I had the option to do either. Sometimes, we are lucky enough to find ourselves with the option to do one thing or the other at university – we can’t do it all. At the end of the day, I’m happy that I chose to do the IPP because I know in the long-run, this is something that has really developed me. But I think one really has to think long and hard about what opportunity to take up – what is right for you? I remember older colleagues questioning why I would go on exchange – what benefit would it provide for me. What I realised through the internship is that I have a long journey ahead to develop myself before I enter the working world, and that is something exchange can provide for me.

So to end this blog post, I have one, quite predictable thing to say. Do it! Do the IPP, whether that is during the summer holidays (a wise choice), or during semester. I did it during the semester, took on full study loading, thought I was going to die, then came out the end knowing that I was a better person for it. Whilst I never thought it was true before, I know now that there are so many opportunities out there, and you are the one who needs to have the drive to do it. People who achieve things don’t necessarily need to be the smartest or the most gifted, but they need to have drive, to put it all on the line even if they know there is a chance of failure.

Mark Jeyaraj
Current student at the University of Sydney Business School

23 November 2015

Madsen Real Estate – Unfinished Business

"Coming together is a beginning. Keeping together is progress. Working together is success." Henry Ford
 

New York City in November is stunning. 15-20 degrees, unreserved sunshine and a city desperately trying to capture the last embers of warmth before Winter hits. Places like Central Park, the mesmerising view from the Top of the Rock and other NYC destinations have an extra slice of magic to them.

Pictured from left to right: Kevin Oh, Thuy Thai, Howell Sze, James Pyo
So why were we there?
Well, our team Madsen Real Estate was representing the University of Sydney in the Cornell International Real Estate Case (CIREC) competition. The 7th annual CIREC competition ran from 5 to 10 November in New York City, with participants from 19 leading universities across the globe including Cornell University, Brown University, New York University, University of British Columbia and Cambridge University. So naturally, we arrived a few days earlier to soak in the sights and “acclimatise” through getting to know the night life and the locals…of course.


Our experience? 
It undoubtedly lies within the sheer vibrancy and culture of the city. People briskly brush past you, always with a purpose and yet this is contrasted with the abundance of talent that flocks towards the city, hoping to secure your attention for a night as their own fleeting careers grow. We had a chance to watch local comedians, catch Wicked at the famous Gershwin Theatre, attend the final World Series Game (Go Mets!) and also demolish bowls of ramen at the world famous Ippudo. But as they say, all good things must come to an end.

World Series Baseball Game 5…GO METS!

What about the competition itself? 

The case centred around a portfolio of three properties in separate districts within the United States, including Oklahoma City, North Carolina and the LAX area of El Segundo. The properties themselves had unique features to them, including significant lease ups, rebranding projects and also a problematic tenant – being a 80,000 sq ft strip club of which we needed to advise our private equity clients as to what to do with them. Over the next five days, we wouldn’t sleep much, we would single-handedly support Koreatown’s instant noodle business and also had to sneak down for a slice of delicious New York pizza whenever we could.

Being the second year the University of Sydney has ever participated in this competition and standing shoulder to shoulder with Cambridge, NYU and British Columbia, it was difficult to remain calm on the day. We did not sleep much the night before, but we knew we had a chance to help expand the opinions of others and put the University on the map of global real estate competitions.

The heats

The heats could not have gone any better. The judges were delighted with our 100 page+ pitchbook and we managed to finish almost exactly on the 15 minutes we were allowed to present. It was thrilling to beat out the seeded team from the year before and suddenly we were filled with hope, more than just our usual bravado.

Our box of pitchbooks + a very happy Kevin

The final

A panel of 16 people who are effectively the “Who’s who” of New York Real Estate is imposing. It gets worse when they start asking questions. But it truly escalates when they’re fighting over each other to ask the hardest question they can and watch us squirm. And whilst we squirmed (only a little), I know we’re all a little stronger knowing we made it through an inquisition for the ages.
 

And whilst we didn’t bring home the bacon, we received a handy global 2nd place to make up for the disappointment. Two months ago, no one on our team knew how to value a building, our only experience in leasing was our own private negotiations for a cheap apartment to stay within and yet I know at the end of the day, what we did, was the best we had and I cannot thank my team enough for all the effort throughout the five days.

Post announcement that we had come 2nd in the world! We’ll get you next year Cornell!

 


So our parting advice?
It’s rare to have a team where everyone is on equal grounds, everyone speaks up about their thoughts and everyone not only can make fun of themselves but feel comfortable enough to laugh at each other. And a long time from now, we probably will not remember the experience, the result or the intricate details. But one thing we know is that the three others who shared some of the most difficult and proudest moments of our lives together – that is something none of us will ever forget.

Howell Sze

Current student at the University of Sydney Business School

9 November 2015

My Experiences with the Financial Management Association of Australia

After starting university at the beginning of this year, I was eager to start thinking about how I could best to position myself for my future whilst further developing my understanding of commerce. In light of this, I applied to become a subcommittee member of FMAA, which has since offered me a wide range of experiences, challenging me both personally and professionally to a degree I never expected in a student society.



Through my role on the subcommittee I have attended numerous events run by FMAA that establish a connection between students and industry. The opportunity to personally engage with representatives from various firms is one that I have found particularly beneficial, allowing me to develop my communication skills within a professional environment whilst learning more about everyday experiences within the workplace.

My involvement with these events was not limited to just participation. As a member of the subcommittee, my role involved assisting with organisation and preparation. Events such as the Down-to-Business Luncheon required lengthy preparation and extensive coordination with sponsors, students and within the team itself. This experience with FMAA has helped me understand the value of teamwork, as all the members relied upon each other to ensure the event was a success, from initial marketing all the way through to collecting feedback.

As the University of Sydney branch of an Australia-wide society, this level of teamwork is required not only amongst our own branch but nationwide, and flying down as a team to Melbourne for the FMAA National Conference last month allowed us to meet the executive members of other chapters. On a personal level, the conference provided me with a unique insight into the operations and everyday issues faced by most firms. Discussions of how to ensure effective communication between FMAA’s divisions and how to best add value for all relevant stakeholders reflected matters that commonly arise in a professional environment, and was another experience that contributed to my overall understanding of how life will be in the workforce. And beyond the conference itself, the team also took the opportunity to immerse ourselves in the local culture, enjoying the warm days in local cafés, shopping and watching the AFL grand final, practically mandatory in Melbourne.

Throughout the year, I have been frequently asked why I decided to get involved with such a society in first year rather than wait until the events were more relevant to my career prospects. But personally I see a lot of value in developing the skills and the knowledge crucial to success in the workforce gradually over time, and I would encourage other first year students to start early and take advantage of similar opportunities offered by the Business School. FMAA has offered me a range of skills that are critical for workplace success and introduced me to a set of new friends, an experience I would recommend to all students.

Alexis Orsmond
Subcommittee member of FMAA and current student of the University of Sydney Business School

2 November 2015

Thoughts on NOW’s Equal Pay Day Event

In my second year of university, I have had the pleasure of being involved in The Network of Women (NOW), a stimulating and invigorating student run society. NOW just celebrated its first birthday, and after a very successful year with over 400 members, NOW also recently won the University of Sydney Union’s ‘Best New Club’ award.

On the 16th of September at Sydney University’s CBD Campus, NOW co-hosted an event with the Work and Organisational Studies Society (WOSOC) with over 50 attendees. The event surrounded Equal Pay Day and was titled, ‘we cannot rewrite the past, but we can rewrite the future’ encapsulating that in order to improve equal pay, we must not dwell on the past, but instead work towards a better future.

In Australia, Equal Pay Day marks the additional days that on average, women would be required to work to earn the same as men. It is calculated once a year in August, using may as the reference period. Equal Pay Day thus changes every year, with it falling on the 4th September in 2015, indicating an extra 65 days. The gap is unfortunately increasing, with NSW alone adding 2.8 days in just one year.

The event was led by Marian Baird and included a panel of esteemed business men and women including Sydney University’s Vice Chancellor, Dr Michael Spence; Managing Director and Founder of Xplore for Success, Ms Diana Ryall AM; Head of Diversity and Inclusion at Telstra, Mr Troy Roderick; UN Women MBA Scholarship Recipient (USYD), Dr Kim Johnstone and Research Executive Manager at WGEA, Dr Carla Harris. Further special guests included two year 6 students from Darlington Primary School, Matilda and Alex, who shared their thoughts on the gender pay gap, stating they would never think men and women should be paid differently when completing the same job. Although they are just beginning their quest in order to find the right career path, it does bring up the question – where does this intention change? 


The panel led an engaging discussion around the theme of gender targets, workplace relations and gender equality within a number of differing workplaces. The discourse prompted me to further reflect on the existence of gender pay gaps and gender ratios in my own family’s architecture business, where there is a noticeable difference in males pursuing higher paid positions than females. What I found very interesting was that the panel discussed the issue that more women than men pursue higher tertiary education degrees such as honours and PHDs, however when they enter the workplace this does not align with job offers and further career advancements.

Furthermore, the hotly debated issue of gender targets was discussed with the panel agreeing that without organisations sticking to the targets, further gender workplace arrangements such as more part time roles (for both parents) will never be implemented. It was also great to see that the University of Sydney itself is looking into their own gender pay differences and employment opportunities, with Dr Michael Spence specifically stating he would love to see a 50/50 female to male employment across the university.


Overall, my involvement with NOW has left me feeling empowered and enlightened on the realities of equal pay in the workplace. Bringing this conversation to both the university level, as well as the workplace level is important as the issue spans every market, and students must be informed of the issue in order to further implement changes in their careers. NOW itself also provides a platform through which passionate, motivated peers with similar desires to initiate change can connect. It has truly been a fantastic year being on the executive of NOW as the Media and IT Director, and every event has only benefitted myself as I embark on my own journey into the workforce.

More information on the gender pay gap: https://www.wgea.gov.au/sites/default/files/Gender_Pay_Gap_Factsheet.pdf
NOW’s Facebook page for further information about events, interesting articles and how to join: https://www.facebook.com/sydneyuni.now

Rochelle Sharpe
Media/IT Director of The Network of Women