co-op, is it worth it?

[metalman]

Okay so I am an accounting student at university and I am wondering as to whether you guys who have experienced co-op think it is a worthwhile endeavour. I'd think that for scoring a position with a Big 4 firm, they would love to hire previous interns, but really how competitive is it without interning?

Also, assuming that I do want to join the co-op program, you need 12 months of work experience to get it placed on your degree. The work terms are either 4 or 8 months usually. Now seeing that the Big 4 firms (or other) hire only 3rd yr students and that they have 8 month work terms, logically as a second yr student I should take another 4 month term this summer. Does this sound like its worth shelling out money to the uni to obtain a job? Do you think that this would better my chances for a Big 4 internship next yr?

Finally if I were to join I'd want to make the most money possible, and gain some valuable experience. 'd also be willing to work a ton of hrs. Shell/Albian Oilsands has postings for jobs up North that could satisfy both requirements:


Financial Operations (Oil Sands) Invoice Attestation (2 positions)-this assignment, in our Expansion Operations Accounting department will involve but not be limited to, understanding the contracts in place for Shell and its major contracts, validating terms and conditions against current contracts and purchase orders, validating receipts provided for completeness and compliance, as well as be involved in general analytical, project work and vacation coverage. These assignments are for 4 months

What do you think the pay/hrs of the position should be? How mindnumbing could this really be?


Okay so there is a bunch of questions. Feel free to just quote any of them to reply. Thanks

[AsianCaucasian]

Please don't. Quite a few of my friends are just going up and asking accounting firms for jobs w/out going through the co-op program. You'd be an idiot to pay the fee to look at the list of jobs when you can just go up and ask for the job yourself.

If you've taken FNCE 317, use your NPV skills and think about whether or not this is really going to benefit you. The job market is great, as long as you're not a moron, you are most likely going to get a job when you graduate. If you look at the stats in the Haskayne career centre, grads with co-op typically only make $2000 more than those that did not do co-op. Think about it this way. I would come out a whole year before you and make $32000 while you would have to pay hundreds of dollars to see the list and then come out a year after me and make $34000. With the interest alone I would be making more than you, not to mention I would be higher up in the company hierarchy. I'm sure that some here would probably disagree with me but there really is two schools of thought on this subject and I always try to dissuade my friends from going into co-op. I hope this helped a bit.

[Fuji]

Originally posted by AsianCaucasian
Please don't. Quite a few of my friends are just going up and asking accounting firms for jobs w/out going through the co-op program. You'd be an idiot to pay the fee to look at the list of jobs when you can just go up and ask for the job yourself.

If you've taken FNCE 317, use your NPV skills and think about whether or not this is really going to benefit you. The job market is great, as long as you're not a moron, you are most likely going to get a job when you graduate. If you look at the stats in the Haskayne career centre, grads with co-op typically only make $2000 more than those that did not do co-op. Think about it this way. I would come out a whole year before you and make $32000 while you would have to pay hundreds of dollars to see the list and then come out a year after me and make $34000. With the interest alone I would be making more than you, not to mention I would be higher up in the company hierarchy. I'm sure that some here would probably disagree with me but there really is two schools of thought on this subject and I always try to dissuade my friends from going into co-op. I hope this helped a bit.


Good Luck getting into a big 4 without interning. They base their junior staff accountants on that process. They just don't go spending weeks of effort on the whole info sessions and meet and greets for no reason. They forecast all the junior new hires they need for the year using this - you miss out, you will regret it.

You won't be higher up in the corporate food chain by not doing co-op either. You'd be the same probably even behind.

That being said I think you are wrong.

[AsianCaucasian]

Originally posted by Fuji



Good Luck getting into a big 4 without interning. They base their junior staff accountants on that process.

I dunno about that. One of my friends got into E&Y and the other got into deloitte. I shit you not.

[Fuji]

Originally posted by AsianCaucasian


I dunno about that. One of my friends got into E&Y and the other got into deloitte. I shit you not.


It's all based on circumstance. and frankly it's a pretty rare occurence - hence i said "Good Luck". It's not impossible, but its very rare

[AsianCaucasian]

Originally posted by AsianCaucasian



Well it's a pretty rare occurence - hence i said "Good Luck". It's not impossible, but its very rare

Lol i think you edited my post by accident.

Anyways, they technically are still interning, just not officially doing it with UofC. They just went up and asked to do a work term and take a year off school. Apparently most firms are willing to do this nowadays. I agree that work terms may be beneficial for those that are doing either Accounting or Finance but for the rest of those taking BComms, I would suggest just finishing your degree as fast as possible and building up your resume on your own time.

[Fuji]

Originally posted by AsianCaucasian


Lol i think you edited my post by accident.

Anyways, they technically are still interning, just not officially doing it with UofC. They just went up and asked to do a work term and take a year off school. Apparently most firms are willing to do this nowadays. I agree that work terms may be beneficial for those that are doing either Accounting or Finance but for the rest of those taking BComms, I would suggest just finishing your degree as fast as possible and building up your resume on your own time.


The guy who is asking the question is an accounting major.

If you want to go for your CA, make sure you get to a big 4.. you wont be paid the best initially and you'll work shit hours, but it's all to make more later on. It's all up to what path you want

[MikeHL]

I guess I might as well throw in my 2 cents.
I'm a co-op with one of the big 4 firm’s right now.

One thing to keep in mind is that don't do it because of the $$ as the pay is so so, but nothing to be wowing over (it’s about high 30k's per year. I'm salaried so no paid overtime for me. I might regret this come end of February haha.

The work the best to describe it is mundane, i.e. Photocopying, looking up files and dates (work that your manager doesn't have the time to do). Note that I haven’t been trained in tax yet. Not really as mental stimulating as say financial accounting. Of course this all changes when I get trained and the tax returns start flowing in.

As for getting in the big 4 after your degree, it might be a bit easier. About 5-6 people in my orientation signed on after their co-op terms or have already done a co-op term with the company. Of course you "network" (god I hate that word) within the company during your term, so of course it’s easier to come back.

As for the job up North pay is most likely better then anything offered in Calgary, but there are also living costs, rent and the fact that you’re stuck in a hole for 4 months.
Also it depends on what you want to pursue CA, CMA or CGA. The job you listed seems more suited for CMA types.

Finally I would defiantly recommend the co-op program if you’re in accounting. You can get great experience and see what your future job is like. Plus even if you do mundane shit work you learn a hell of a lot more stuff in 1 week then 3 weeks in class.

If you have any more questions just ask by PM

[triver525]

I don't have any experience in the accounting world but in engineering the co-op program opens some doors that most people can't do on their own. There are several companies (usually the big owners) who ONLY hire co-op students. Also, there are a lot of hiring managers out there who look at the word "co-op" and think "this guy must have some decent experience" and will look at whatever experience you have differently than someone who didn't take co-op.

I didn't take co-op but I was lucky enough to get great jobs during my summers. However, when I was interviewing out of school I could tell that even though I had a lot of responsibility (for a student) that because I didn't take co-op it wasn't as good. We all know that's total BS but there is definitely a stigma.

[khtm]

I'm a huge fan :thumbsup: of co-op (Engineering), but from UVic which has mandatory co-op. I'm not sure about U of C though.

I had the chance to work for 6 separate companies before getting my degree. How often in your career do you have the opportunity to leave a job at the end of 4/8/12/16 months without any hard feelings from either party?

[metalman]

Well thanks for the advice everyone. I am fully aware that they drag you over the coals as an articling CA student, but I am full prepared for that when the time comes. I think that I will try and obtain a Big 4 position next yr, however being a 2nd yr student, I still need a job this summer. Does anyone know of any good, high paying positions for second yr accounting students with quality, but non financial experience? I mean I would love to obtain some experience that pertains to my degree, however I would have to be making upwards of $20 an hr to compete with the firm who has offered me a non-financial job. Is it unrealistic to expect this kind of money in Calgary these days? After all, I am still a student and money is an issue at this moment for me.

I'm also open to going North to Fort Mac if Housing was covered....