What are recruiters looking for in their graduate tax professionals – could it be you?

For the recently graduated, you’ve weathered long nights of study and emerged triumphant, armed with all the makings of an accomplished tax professional. So how can you ensure you have the opportunity to turn this dream into a well-paying reality?

 

What tax recruiters are looking for

 

The Big Four cite educational diversity, ambition and a passion to contribute (and evolve) in the workplace as the most coveted traits of a graduate tax professional. Studying the candidate-selection process used by the firms you apply to can be indicative of the skills they prioritise, and therefore the skills you should underscore during the application process.

 

While selection methods will vary from firm to firm, you can expect the standard process to include a series of interviews, face-to-face assessments and a test of applied skill, such as a case study, to determine your eligibility. Specifically, your would-be employers are looking to gauge:

• Why you chose to apply for the role, including demonstrating what knowledge you have of the firm.
• Your communication and time-management skills.
• Your literacy and numeracy levels.
• Your personality, including your teamwork skills and leadership potential.

 

Increasing your odds

 

Beyond having an impeccable CV, being versed in industry news and proactively networking at career events, there are a few things that will help you better prepare:

• During the job-application process, make notes on each company’s organisational structure. Should you be successful and progress to the interview stage, this material will be important to convey not only your readiness to progress, but your interest in the firm. Specifically, what is your pathway to progress and what in-company learning programs are available?
• Behavioural questions are a favourite among recruiters to judge your personal skills. These are often situational-based with answers that reflect how well you handle tense situations. An example would include: “Tell me how you solved a problem that had a particularly time-sensitive deadline?" Respond to these questions using the STAR technique: situation, task, action, result. Contextualise your answer, outline what was required of you, define what course of action you took and how it played out. This will help keep your answer robust, but concise.
• An eagerness to undertake further education, particularly those courses that feature practical skills such as the Graduate Diploma of Applied Tax Law, is a pursuit well-received by employers. This is a trait that helps demonstrate your dedication, determination to succeed and budding management skills.

 

While qualifications alone are not the golden key to your first job, they do equip you with a number of desirable traits that employers are looking for. Take note on how you can improve during the selection process and bolster your chances of taking home the prize.

 

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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

Tips to help you land a graduate job in tax

If you’re hoping to secure a sought after graduate position or entry level role in taxation, you’ll need to pay attention to the little things that can help your application stand out above the rest. Securing an interview is the first step on the path to your new role and there are several things you can do to set yourself apart.

No matter whether you’re a recent graduate, in your final year, or just starting your university journey, these suggestions will help transform your application from boring to brilliant.

1. Go beyond books

Although it’s important to highlight your academic qualifications, don’t assume that a degree alone will catch the recruiter’s eye. Always outline any industry-related volunteer positions or internships you've undertaken, that show you’re passionate about the sector and willing to work hard. For instance, if you've given time to the ATO's Tax Help program or completed a work placement at a relevant organisation, make sure you spell out these achievements.

Volunteering and work placements can lead to future job opportunities, so approach them with your best foot forward. Ask for references from your superiors and include these in your graduate applications. Emphasising non-academic selling points is key to a model application that will ensure recruiters seek you out.

Related: Resume writing tips to secure your dream job

2. Highlight your industry credentials

When applying for a graduate program, it pays to focus on your status as a future professional. Accomplish this by listing significant seminars, talks and professional development opportunities you've attended during your undergraduate career and don’t forget to mention speakers of note. The same goes for taxation-related field trips or study tours that have helped you better understand how the industry operates. The Tax Institute’s free student membership is a great industry qualification to include. Demonstrating your real-world industry insights will show that you’re a professional bound to slot effortlessly into a future workplace.

Related: Building a great student profile on LinkedIn

3. Demonstrate your expertise

Although it’s not critical to list every unit you've studied, it is important to highlight the subjects you excelled in. Make sure you include these in the education section of your application, to offer a potential recruiter insights into your strengths. It’s also imperative to list the taxation-related software packages that you may have mastered during each class. Drawing attention to relevant, industry-specific skills will help give you a competitive edge.

Ultimately, creating a winning application is about identifying your strengths and tailoring them to the potential job. If you ensure your application reflects your best attributes, you’re sure to reap career rewards.

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.

Insider’s guide to getting a job in tax

If you’re applying for work experience or your first job in taxation, you’re probably wondering exactly what companies’ are looking for in a candidate. What are the skills, attributes and attitude that will make you stand out above the field?

For the inside scoop on what tax industry recruiters are looking for, we spoke with Richard Knox, the head of people (tax and audit) at KPMG.

He says landing a dream job in taxation hinges on a candidate’s passion, commercial acumen and ability to think outside the box. Having a traditional background in law and commerce is not as important as your ability to understand the issues and communicate effectively with clients. Read on for more insights on how to score your dream job.

What are the most important attributes you’re looking for in a candidate?

Richard Knox, KPMG

RK: KPMG is heavily focused on diversity at the moment. We’re really looking for a diverse range of candidates with a diversity of thought, a diversity of background and a diversity of experience – all attributes that could benefit our clients.

We also think that problem-solving ability is central, and value graduates with the ability to work around a problem and communicate an idea with conviction and passion.

We’re looking for candidates who are passionate about taxation, but can apply that passion to particular commercial sectors. If someone is really passionate about the mining industry, automotive industry or financial services sector, and can offer a deep knowledge of that area, then they’re a good candidate.

What’s the ideal pathway for a career in taxation?

RK: People often assume that taxation is generic, when it’s not generic at all. Although a Commerce and Law double degree is the traditional background for a taxation career, arts students do really well in both corporate and expat tax space.

Also, research and development groups often hire engineering and science graduates, while candidates with an economics background are the most qualified for a job in transfer pricing. Again, it all depends on the type of tax that someone is interested in doing.

If you come from a non-conventional background, what is the best path towards a career in tax?

RK: Firstly, it’s important to be passionate about taxation as a career regardless of your background. Understanding the most pressing issues and being able to explain them to a client in a convincing way is key. Secondly, I would suggest completing a work placement with one of the firms in the area, or entering into a vacation program at a major firm.

How have perceptions of the ideal taxation graduate evolved over the years?

RK: These perceptions change in line with the external market. More than ever, a broad commercial view is really important. It’s no longer about the technical skills, it’s about being able to apply those technical skills in a commercial context, to help clients solve problems.

What are the biggest mistakes a potential candidate can make?

RK: The common mistake that we see is a lack of preparation. We often notice candidates failing to do due diligence and follow basic business etiquette. It’s important to understand the fact that you’re no longer on campus, but in a very different world.

What tips would you give a graduate looking to embark on a taxation career? 

RK: The tips that I’d give to any graduate to set them up for success would be previous work experience, even if that doesn’t relate to taxation. It’s also important to demonstrate the ability to network and to come and meet us at various recruitment fairs. If you can network with me, you can network with the client – it’s a valuable skill.

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.

What to expect in an entry-level tax position

Resume

When writing a resume for a tax position, it is important that the information disclosed is written in a concise and logical manner.

A summary of your work experience and the use of bullet points within a resume can help recruiters easily determine whether candidates are suitable for a position e.g. where candidates are applying for a graduate position, there may be numerous applications, so it is best to present your resume in a manner which is convenient for the person reviewing it.

Further, where a cover letter is required, it is important that it is tailored to the individual position being applied for, and the company/firm which the application is being made to. Whilst your resume will generally not vary too much, the cover letter should be very specific and gives you the opportunity to distinguish yourself from other candidates.

Tax job search tips (where and when to look)

For students currently at University, careers fairs are usually the best place to start looking for tax positions. Most firms attend University careers fairs in order to promote upcoming opportunities they have such as graduate positions etc.

However, if students know the type of organisations/firms they want to work for, they should go to their websites and search for current and upcoming opportunities there. Although most organisations/firms recruit at different times throughout the year, candidates should be looking to apply for positions such as graduate positions in their penultimate year of study.

Further, many organisations/firms offer vacation/clerkship opportunities, which can also lead to graduate positions.

What to expect in an entry-level position

A tax graduate can expect all types of things in an entry-level position/graduate position. In a professional services environment, this can range from having to do various tasks, attending various meetings, on the job training, formal class room technical training, mentoring and coaching from senior staff, and attending social events just to name a few.

Generally, when you start as a graduate in tax, you will spend a lot of time initially doing research, which helps candidates become familiar with tax law concepts. This is usually followed up with assisting with tax compliance (such as income tax returns, business activity statements and fringe benefits tax) and providing assistance with tax consulting pieces.

Graduates may also get the opportunity to attend client meetings, and/or internal meetings with other business divisions.

Contributed by Pitcher Partners of NSW.

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.