How to write a cover letter for your job application

When you apply for a job in tax, and especially for your first job in tax, you need to ensure your application stands out.

Your resume, of course, should clearly highlight your skills, qualifications and achievements to date. However, a hiring manager may not even see your resume if your cover letter doesn’t first spark his or her interest.

Using LinkedIn to boost your career in tax

LinkedIn is the premier professional networking platform, with over 450 million registered members around the world.

Employers are using LinkedIn more than ever to identify and recruit talent. This means all tax students should have an optimised, up-to-date LinkedIn profile to enhance their career prospects.

Here are some tips for building a LinkedIn profile that can attract the attention of hiring managers in tax firms.

Save time on your job search

When you’re looking for a job, it’s easy to get sucked into spending hours on job sites and networks.

Here are seven ways to cut back the time it takes to achieve the results you want.

Accepting a job offer - what you need to consider

Congratulations! You've received a formal offer for a job.

Before you sign on the dotted line, however, take a moment to assess what you're getting yourself into.

Most people react to a job offer by accepting immediately – they’re so relieved to put the hard work of applications and interviews behind them. But don’t allow the excitement of the occasion cloud your judgement about whether the role is ultimately the right one for you.

Here are some questions you should answer first:

1. Do you want the job?

If the position offered is your dream job, this question may be moot. But it’s worth considering any reservations you may have about accepting a less-than-perfect role.

If the job description causes you to hesitate, consider other factors:

• People and culture: Do you think you’ll get along with, and learn from, your new colleagues and boss? Will the organisation’s culture suit you? Will you feel comfortable there?

• Position and expectations: Do you anticipate the role will be interesting, or will it lead to more interesting positions down the track? Will you be able to perform to the standard the organisation expects? Is that standard realistic?

• Pay and benefits: Is the pay fair? If the pay is mediocre, are there other benefits that offset a lower remuneration? Will the organisation invest in you in other ways – through, for example, further training?

2. Under what conditions should you accept the job?

Still hesitating? Weigh up the opportunity cost of taking this job (which may mean you miss a chance at others) versus the possibility that a little sacrifice now could lead to genuine opportunities to progress in the near future.

Don’t be afraid to speak with the organisation about your concerns – the hiring manager clearly likes you enough to make an offer. If you haven’t raised issues such as pay and benefits, you can use this opportunity to negotiate such variables, or to secure a career pathway.

3. What’s in the contract?

Make sure you understand the terms of the contract. If you don't, ask your prospective employer for clarification. Also check that anything you've negotiated verbally has made it into print.

Be practical when you receive a job offer and treat it in a business-like way. Employment is, after all, a major part of your life. Only when you’re satisfied that you've made the right decision to accept should you pop the bubbly and celebrate.

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What's the right amount of time to stay with a company?

Asking how long you should stay with an employer is like asking how long a piece of string is: it depends on how much (time) you need.

According to McCrindle research, the average Australian employee's tenure is just over three years, and those who belong to Gen Y remain in their roles for little more than two and a half years.

While the days of starting work and retiring with the same company may be coming to an end, that doesn't mean you should scratch the two-year itch. You need to consider a number of factors before jumping ship.

Why am I considering working for another company?

A lot of people find themselves stuck in a rut and subsequently feel as though working for another company is their only escape. Common reasons for leaving include:

• I no longer find my work challenging or enjoyable.
• I don't get paid as much as I should.
• I don't get along with my colleagues/I don't like the company culture.
• I can't attain the flexibility I need to fit my lifestyle.
• I've decided to take my career in a different direction.

If you work for a small company, the allure of working for a big-name firm can be tempting, especially if accompanied by greater financial rewards. Be sure you're comfortable with the change in culture, clients and role. Working for a big firm looks prestigious on your resume, but there may be fewer chances to make an impact or advance quickly, which could mean staying in a junior position longer.

 

Some employees like to switch to smaller firms because they feel they can make a difference. However, they could be giving up benefits such as a higher salary or study and travel opportunities.

 

Have I done all I can at my current organisation?

 

In many cases, the symptoms above can be remedied by a change of role rather than leaving for another company. Also think about untapped opportunities at your current workplace. Perhaps you could join a leadership program, or extend your education? These decisions may affect your willingness to move on.

 

With tenure you may also be able to negotiate better because you exert greater influence, so pushing for a pay rise or beneficial working conditions could become easier as time goes on.

 

What's the opportunity cost if I stay?

 

While the prospect of changing roles has its appeal, you also need to consider what you may be giving up by sticking around. This could be anything from better pay, conditions and opportunities to gaining a diversity of experience.

 

Starting anew may also be the easiest way to jump into a higher salary bracket, leverage beneficial working conditions, secure a new career title and expand your network rather than doing this over time in the same workplace. This makes the question of 'how long?' a question of 'how patient are you?' and 'what will you do today to make it happen?'  

 

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Job trends for tax graduates

At the turn of the financial year, the short-term trend for jobs is usually accountancy based. What are the long-term trends tax graduates should heed?

Mid-year is always a busy time for tax professionals as individuals and organisations work to sort out their tax affairs following the turn of the financial year. As a result, tax graduates looking for work will find that tax accountancy roles are plentiful, ranging from filing individual tax returns to assisting larger businesses by joining corporate tax teams.

 

Core strengths

 

According to the government’s Job Outlook website, job prospects for tax accountants are high, with this trend to continue for the next five years. In the same period, job prospects for finance managers and analysts have an above-average rating. These three core areas for tax graduates are healthy and can all provide stepping stones to more complex areas of the tax industry if desired.

 

The nature of each of these areas, however, is shifting. In accounting and financial management, the roles will be less about compliance and more about providing advisory services, taking a holistic view of a client’s financial position. The complexity surrounding superannuation and trust structures in particular will require a tax professional’s advice.

 

The effect of tax reform

 

Changes to the tax system will inform the trend for tax analysts. The ongoing saga with the carbon tax is one to watch as it will affect a number of organisations directly and may have indirect follow-on effects for other organisations.

 

Further into the future, comprehensive tax reform is another item on the agenda that tax graduates will need to follow. There are roles on both sides of reform in policy research, advisory and development at the Australian Tax Office and other stakeholder organisations, as well as post-reform roles educating clients and rolling out the changes.

 

Globalisation

 

Globalisation will continue to occur with both Australian organisations going global and international interests being directed here. There are many legal and financial implications that intersect with the tax sector, including inbound and outbound employment, business and trade.

 

Understanding different tax jurisdictions will be an advantage if you want to work for multinational organisations, import/export businesses or in the foreign investment sector. There are a number of advisory and compliance roles in these areas, as well as a requirement for business planning and tax-structuring skills.

 

Being across the tax implications of foreign workers earning an income in Australia and Australian workers being employed elsewhere will also be helpful. You may work with individuals or the employing organisation.

 

While there is a general demand for tax professionals in the foreseeable future, you can ready yourself for specialisation by taking a look at what’s happening at different levels in the sector and angling towards the niche that interests you.

 

 

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Seven time-saving ways to search for a job

Looking for a job? You can get sucked into spending hours on job sites and networks if you're not careful. Here are seven ways to cut that process down to 15 minutes a day.

 

1. Have a plan

Simply outlining what you're looking for can make the job-seeking process more focused so that you spend less time sorting the potential from the rubbish. Do a little research upfront to find out what's realistic in terms of your role and salary expectations to set some parameters.
 

2. Identify and use keywords

Use the keywords that employers and recruiters use, for example 'graduate' is preferred over 'degree holder'. Don't forget to identify the different categories that they may use. Tax roles, for example, may be placed under 'accountancy' or 'finance', so be sure to check both. Also add these keywords to your job-seeking profile to increase the chance of someone finding you.
 

3. Save searches

Most job sites and job boards, including LinkedIn, allow you to sign up for a profile and save your search, including all the terms and parameters you set (keywords, salary, location). Automate this process instead of entering the same information every time you visit.
 

4. Create alerts

If you prefer push notifications, on most sites and networks you can create alerts that deliver jobs that match the terms and parameters you set and have them sent to you via text or email. You can also employ tools like Google Alerts to find relevant postings and have them notify you.
 

5. Sign up to newsletters

Sign up to the newsletter of each organisation you're interested in. Not only will the 'we're hiring' message be fresh when you get it, you'll also have recent news about the organisation on hand, which you can use in your interview.
 

6. Join relevant groups

Joining networking and industry groups is often a good way to find a job that may not be formally advertised. It's also an excellent way to get to know your potential employers. LinkedIn Groups, for example, let you get close to people you're not connected to, and you can respond to posts and keep an active profile to get noticed. Make sure your settings provide you with a daily digest of the group's posts so you don't have to spend all day on LinkedIn waiting for a job alert.
 

7. Recruit your network

Make sure the people around you know that you're looking for a job and, if you can, brief them on the type of role you're after. They may see something in a medium you don't check (e.g. newspaper) or hear something from people you don't know or can't contact. More seekers means more potential for opportunities.
 

Job seeking does take time, but with a little upfront investment you can reduce the effort you need to find and filter suitable roles. Set up your profile and alerts properly and it will pay dividends when trying to land the perfect job.

 

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How to select a tax specialisation

One of the benefits of having a career in the tax sector is being able to specialise in your area of interest. Here’s an overview of some things you need to know before choosing your focus.

 

A career in tax is versatile, but to optimise its versatility you first need to figure out what you want. Do you want to earn more or travel more? Are there particular lifestyle benefits you're keen on? What about political influence and meeting people? The industry you choose will determine the benefits and challenges you'll have.

Property and investment

Specialising in the ins and outs of property and investment tax issues will lead you to people who are interested in making money, including high-net-worth individuals and wealth-creation organisations.

Great for: Earning potential.
 

Superannuation

 
An ageing population, the increase in self-managed superannuation funds (SMSFs) and the complex tax issues around super all mean tax specialists in this area are in high demand. Expect to handle everything from super tax returns to SMSF structures and estate planning.

Great for: Job stability.

 

Corporate

There is a wide range of roles in the corporate tax sector – from audit and compliance to consultancy and advisory – and most will involve meeting with clients and working in teams on specific jobs. This environment is very supportive of graduates and you'll find that plenty of opportunities will present themselves, especially as all corporate firms and many of their clients are multinational.

Great for: Travel and international exposure.

 

Business

The beauty of understanding business tax is that your skills can be applied to almost any organisation, from not-for-profits to sole traders. Each industry has its own particular challenges, for example special exemptions and deductions for artists paired with the instability and breadth of their income streams. Many tax specialists find this work rewarding as it both helps businesses and provides interesting challenges.

Great for: Job satisfaction.

 
Policy and analysis

Interested in the mechanism of tax? Perhaps policy and analysis is the specialisation for you. A role as an economist or analyst drives everything from political platforms to tax-system reform. If you want to spearhead change as a thought leader on tax, this is your area.

Great for: Prestige and influence.

 

The tax industry provides steady work and a variety of roles, which is a big draw for students and graduates looking to test their skills in different areas of interest. Choosing a specialisation does require a little research so you can match its benefits and challenges to your skills, needs and interests for a satisfying career.

 

Read more about these areas of specialisation below:

 

https://www.ato.gov.au/Super/Self-managed-super-funds/Understanding-tax-and-SMSFs/

http://www.russell.com/AU/financial-professionals/publications-and-tools/market-insights/smsf-study/

 

 

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Small firm or corporation: What’s right for your tax career?

Taking that very first step in your tax career requires many decisions. One of the most important is whether your initial role should be with a small firm or a corporation.

There are countless firms that can provide you with your first foray into the tax world, and the size of the business can be a clue to the type of workplace you can expect. Here are some general guidelines.

Working for a small firm

Because there are fewer people in a small firm, you will get to know everyone and will probably work directly with most of them. This is great if you feel more secure when you’re familiar with the team members who are driving the business.

• Day-to-day functions: Employees in small firms tend to work across a number of clients and usually perform some ancillary tasks to support their job, including administration. Prepare for variety and expect to wear a number of hats.
• Skills: Multitasking and being a quick learner are two skills you should already have. If not, you’ll pick them up swiftly in a small-firm environment.
• Personality traits: People who like being part of a team and being able to see how their contribution directly adds value to the business will enjoy this environment.

Working for a corporation

Working for a corporation, such as one of the Big Four, has many benefits including established career development programs and opportunities to work internationally. This situation is ideal for ambitious employees.

• Day-to-day functions: Corporate employees generally have specific roles and are assigned tasks appropriate to that role. Your work will be guided and may focus deeply on specific areas. This may be repetitive for some, but could also lead to specialisation.
• Skills: Being able to work autonomously and follow process is a key skill. Those who have leadership skills tend to move into management positions. 
• Personality traits: Those who are ambitious can make their mark through high performance and good networking. By the same token, those who are content to be a cog can also find the anonymity of being in a big company attractive.

These are just some of the generalisations related to small firms and corporations. Of course there will always be some crossover, with small firms taking on corporate traits and vice versa, as well as medium-sized businesses that may be a blend of both.

The key is to figure out what you want and then find the workplace most likely to give you what you seek. As you and the nature of the workplace change, this will more than likely affect your choice.

Give yourself the edge with free Student Membership

If you are a tertiary education student, The Tax Institute can help you progress in your career journey.

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Three essential questions for your job-acceptance checklist

Congratulations! You've been offered the job. But before you sign on the dotted line, take a moment to assess what you're really getting yourself into. Here’s a checklist you should always run through before accepting.

Most people's reaction to being offered a job is to accept immediately, if only to put the hard slog of sending out CVs and doing interviews behind them. However, don’t let the excitement of acceptance cloud your judgement on whether the role is ultimately the right one for you.

Here’s a short checklist of questions to answer before formally accepting a job offer.

1. Do you want the job?

If the role being offered is your dream job, this question may be moot, but it’s good to field any reservations you may have about accepting a role that isn't absolutely perfect. If the role offered makes you hesitate, you need to take into account other factors to sway your decision:

• People and culture: Do you think you will get along with, and learn from, your new colleagues and boss? Does the culture of the organisation suit you? Will you be comfortable there?
• Role and expectations: Do you find the role interesting, or will the role lead to more interesting positions down the track? Will you be able to perform to the standard the organisation expects? Is that standard realistic?
• Pay and benefits: Is the pay fair? If the pay is mediocre, are there benefits that offset lower remuneration? Will the organisation invest in you in other ways, through further training, perhaps?

2. Under what conditions should you accept the job?

Still hesitating? Weigh up the opportunity cost of taking this job, which may mean you miss a chance at others, versus the possibility that a little sacrifice now will lead to genuine opportunities to progress in the foreseeable future.

Don’t be afraid to talk to the organisation about your concerns – the employer obviously likes you enough to make an offer. If you haven’t raised issues such as pay or benefits, you can use this to negotiate those variables, or to secure a career pathway.

3. What’s in the contract?

Make sure you understand the terms of the contract. If you don't, ask your would-be employer for clarification. Also check that anything you've negotiated verbally has made it into black and white.

Be practical when you receive a job offer and treat it with a businesslike approach. Employment is, after all, going to be a major part of your life. Only when you are completely satisfied that you've made the right decision to accept should you pop open the bubbly and celebrate.

Give yourself the edge with free Student Membership

If you are a tertiary education student, The Tax Institute can help you progress in your career journey.

Find out about Student Membership.

Understanding roles in the tax industry

What can you expect of a role in the tax industry? Using this snapshot you’ll be able to see if a career in the tax sector is for you.

The tax industry is a broad and important one. Because tax affects everything we do, Australia requires tax professionals to ensure individuals, businesses and governments are well served by the tax system.

Though many tax professionals may wear more than one hat, there are five main roles in the tax industry (figures in parentheses represent people registered in the occupation):

1. Accountants (169,700).
2. Analysts/economists (1300).
3. Lawyers (solicitors, not specifically focused on tax: 69,700).
4. Policy developers/advisors (not specifically focused on tax: 22,700).
5. Tax agents/advisors (unknown).

Of these, accountants comprise the biggest population of tax professionals with about 170,000 registered in Australia in 2012, according the Australian Government’s Job Outlook.

Are you a future tax accountant?

Accountants work with clients to plan and develop financial systems as well as advise on recordkeeping and compliance, including tax obligations. The skills you need to be a good accountant are active listening to best serve your clients, an ability to use systems and mathematics to solve problems, and critical thinking to evaluate problems and propose solutions.

Accounts clerk salaries begin at about $35,000 per annum, but those with a bachelor degree with a tax specialisation usually start higher, on $48,000. The average salary is $80,000, going up to about $150,000 for highly experienced tax accountants. Pay generally differs with the employer, whether the organisation is public or private, big or small.

Are you a future tax lawyer/solicitor?

Solicitors are legal advisors who prepare legal documents and represent clients in negotiations in matters related to the law. In addition to the skills required of accountants, solicitors and lawyers are expected to have complex problem-solving skills and to exercise a high degree of judgement and decision making.

The starting salary for law clerks/paralegals is about $40,000 per year with solicitors starting at around $50,000. Due to the higher education baseline required to go into tax law, the entry-level salary for specialist tax lawyers is $70,000. A mid-level tax solicitor/lawyer can expect to earn $115,000-140,000 per annum and those at the top generally earn above $200,000.

Are you a future tax policy advisor?

Government intelligence and policy analysts collect and analyse information to inform and develop policy that will in turn affect government and commercial operations and programs. To do well at this role, you’ll need to have solid research and critical thinking skills as well as be able to solve complex problems, evaluate systems and communicate your findings and recommendations.

This role is generally not for graduates; most graduates will support activities in this department before moving into this position. Because this is a government role, the starting salary is a healthy $55,000 with the average employee bringing in $90,000. At the highest level you can expect to earn $145,000 per year.

If you’re intelligent and can solve complex problems, are comfortable performing technical calculations and keeping up with legislation changes, the tax industry wants you for a stable and well-paid career.

Give yourself the edge with free Student Membership

If you are a tertiary education student, The Tax Institute can help you progress in your career journey.

Find out about Student Membership.



[Sources]

http://joboutlook.gov.au/keyword.aspx?keyword=tax
http://www.taxinstitute.com.au/careers/a-career-in-tax
http://content.mycareer.com.au/salary-centre

Life after university: what to expect from your new career

If you've undertaken work experience or a graduate program in a professional firm, you’ll know there’s a big difference between life on campus and what’s required when you start work in the real world. Here’s how to make the transition from student to full-time tax professional as easy and pain free as possible.

What to expect

Your first job is an essential step in shaping your career journey. Each new experience offers an opportunity to learn, build practical skills, establish rapport with your team members and expand your knowledge of taxation. So try to pick up as much as you can by asking questions and seeking assistance as you need it. Your new colleagues will be much happier to help you learn the right way from the outset, than fix problems later.

Your role

In a graduate or entry-level role you’ll most likely be given a variety of tasks to perform. Depending on the organisation, this could range from carrying out research, to practical tasks like preparing tax returns and business statements. In addition, there could be formal training, workplace mentoring or coaching by senior staff, as well as opportunities to attend client meetings and industry events. Use these experiences as an opportunity to gain a firm grounding in best practice for preparing work, building communication skills and understanding business etiquette and due diligence.

How to behave

In the early stages of a new job you’re continuing to prove your worth to the company. Make sure you prepare your work carefully, adhere to processes and ask questions if you’re not sure. Remember that the early stages of your career are about learning to work as part of a team, so be flexible and see your colleagues and your manager as people to assist in achieving a common goal. Even if the work doesn't initially meet your expectations – for instance, it isn't as challenging as you’d like – your efforts will be rewarded and you’ll quickly learn about the company’s clients and business, which will hopefully lead to opportunities for progression.

Client management – learn from others

When you have the chance to attend meetings, use these experiences to learn from your colleagues. Observe how they explain issues to clients, manage expectations, set clients at ease and solve problems.

Keep studying and stay up to date

A solid technical base and knowledge of tax law will help you progress your career and distinguish you from others in your field. Formal training programs offered by The Tax Institute and other professional bodies, combined with on-the-job training are invaluable to young professionals. It’s also important to keep up with developments in the sector – tax is a specialised area and one that’s often subject to changes in law and practice, so continuous reading is required to stay up to date.

Making a successful transition from university life to the workplace is all about being prepared, taking time to understand the experiences of others in the industry, getting to know more about the organisation and treating each opportunity and task as one to learn from.

Give yourself the edge with free Student Membership

If you are a tertiary education student, The Tax Institute can help you progress in your career journey.

Find out about Student Membership.

Your must-read guide to finding a job in tax

With the end of the academic year approaching, it’s time to plan your future in tax! To help kick-start your career, here’s a rundown of where jobs are advertised, as well as how to uncover hidden opportunities through networking and keeping up with industry job trends.

Job-listing sites

A great place to start looking for a job in tax is with the general job sites and career portals:

• SEEK
• MyCareer
• Australian Public Service

Search the “Accounting” industry category and use key terms like “tax” and “graduate” to find entry-level positions. You can set up regular email feeds for jobs that are custom fit to your preferences for location, experience level, salary and sector.

Recruitment agencies

Agencies such as Hays, Talent2 and Randstad post advertisements on their websites. In addition to searching the advertised jobs, you can create an account, submit your résumé and register for employment. The agencies have teams of recruiters to help tailor your approach and recommend you for placements.

Industry-specific recruitment agencies and portals

There are a number of industry-specific recruitment agencies and job portals to service the local and global taxation industry. These vary in the degree to which they can offer individually tailored placement assistance, but all allow you to search the listings and submit your résumé. Some of these include:

• Accountancy Options
• Brewer Morris
• Tax Jobs

Industry Organisations

Industry associations support their members’ careers by providing job listings. The Tax Institute’s Job Seeker Section offers a direct link to opportunities within the tax profession Australia-wide. Submit your résumé for the attention of prospective employers, search the listings and register as a jobseeker to receive alerts.

Professional social networking sites

Social platforms are another great source for finding jobs. With a raft of positions posted to social media giant LinkedIn, it’s the preferred medium for recruiters and employers.

LinkedIn enables you to search for jobs and offers an additional valuable dimension – an opportunity to establish a professional network through which to grow your personal industry presence and attract the attention of your dream employers. This requires setting up a well-considered student profile to help you shine in a competitive job market. For more on setting up your profile, check out how to build a great student profile on LinkedIn.

Networking – tap into the world of unadvertised opportunities

Many jobs are not advertised. To access this ‘hidden’ market, become an active online and offline networker.

• Networking online: Networking sites and industry associations are excellent platforms for connecting with other professionals in your industry, prospective employers and agents. They are also essential to keeping up with industry developments and job market trends, best done through ‘following’ companies, joining online groups, participating in industry forums and learning about industry events.
• Networking offline: Follow up your online connections and continue to build your networks in the real world by attending industry events. Keep up to date with these through the Tax Institute’s Professional Development page.

Networking is an important part of sharing tax knowledge and understanding your industry. For more on how to secure a graduate job, see our tips to help you land a graduate job in tax.

Graduate programs

Many advertised positions require a minimum of one to two years’ experience. Graduate programs, offered by both the government and private sectors, provide an excellent base on which to build your experience. Find out who offers programs by checking the careers sections on the websites of the major accounting firms, banks and government departments.

Whether you are ready to enter the job market or simply planning your career path, the sources here will help you stay one step ahead in the job hunt.

Give yourself the edge with free Student Membership

If you are a tertiary education student, The Tax Institute can help you progress in your career journey.

Find out about Student Membership.



[Sources]
http://socialmediatoday.com/leaderswest/1440796/infographic-77-all-jobs-are-posted-linkedin
http://www.npr.org/2011/02/08/133474431/a-successful-job-search-its-all-about-networking

Building a great student profile on LinkedIn

LinkedIn is a powerful resource for building relationships, expanding your industry profile and getting ahead. For students and young professionals, it’s an indispensable tool for tapping into the increasingly competitive job market.

The social network for professionals is growing exponentially. With 238 million members globally, LinkedIn has become a talent pool for savvy employers looking to fill a spectrum of roles.

Here are three ways you can use LinkedIn to supercharge your job-seeking efforts:

1. Setting up your LinkedIn profile

Your LinkedIn profile is like an online resume where you’re marketing yourself to prospective employers and associates. So think carefully about how you want to appear and keep that in mind when writing your profile.

One of the great things about LinkedIn is that it’s totally customisable, so if you don’t have extensive work experience, don’t worry. You can display your education, skills and expertise prominently by bringing those sections to the top.

Get started by writing an informative profile headline including suitable keywords so that it’s easy for prospective employers to find you. For example, “student at National University seeking taxation role” or “Tax, accounting and law honours student”. Next, write a concise professional summary including your relevant experience to date, skills and career aspirations. Include any awards, honours and professional memberships, but keep it under 200 words for easy reading.

If you’re already working or have completed internships, ask your supervisors for recommendations and endorsements of your skills and experience. These can go a long way to making you stand out from the crowd.

Don’t forget to upload a professional profile photo – usually a headshot against a blank background. If you don’t have a suitable image, ask a friend to take a fresh one. Profiles with a photo are viewed more often than those without.

2. Research your industry

Once you have a professional profile in place, you can start networking. LinkedIn industry groups function as communities where you can network with potential colleagues and peers, get valuable advice and stay up to date with industry news and developments. These groups are a powerful source of information and insight into your industry. You can also follow company pages of organisations you’d like to work for. For example, check out The Tax Institute’s LinkedIn group and company page.

To get started, identify a few groups that line up with your career interests and apply to join them. Follow the conversation, comment on discussions and share interesting content that you come across online. LinkedIn pushes a highly relevant stream of articles and job advertisements to your news feed based on your interests and connections, so don’t be afraid to share content within LinkedIn or from outside the network.

3. Connect with your dream employers

Research shows that around 44 per cent of jobs are found and filled by networking, creating a huge hidden job market. In fact it’s estimated that over half (58 per cent) of candidates actively seeking new roles found them this way, and that was even higher for passive candidates (81%). Employers count LinkedIn as a serious recruitment channel and use it to headhunt emerging talent.

Take advantage of this by creating a list of your ideal employers and following them on LinkedIn. Sign up for job alerts (under the Jobs tab) so you are notified about roles as they come up.

Remember that LinkedIn isn’t Facebook or Twitter, so don’t bombard your connections with constant updates. That said, try to update your status with something of interest or value regularly, at least once a week, and take part in conversations more often.

Do be selective about who you connect with on LinkedIn. You’re cultivating your future professional network, so think about quality not quantity. LinkedIn is a powerful ally for jobseekers willing to invest some time and effort – and a must for young professionals.

Give yourself the edge with free Student Membership

If you are a tertiary education student, The Tax Institute can help you progress in your career journey.

Find out about Student Membership.