Kingston University's careers intervention programme is supporting a diverse student cohort into graduate jobs in accounting and finance, explains Louise Cooper, Senior Lecturer in Finance.
Over 70% of my students studying Accounting and Finance are BAME and around half are the first generation in their families to attend higher education.
This ensures that many students lack what Tomlison (2017) refers to as “graduate capital, key resources that confer benefits and advantages in the labour market”. Such students face considerable challenges in getting their first professional role after university.
Coming into academia after thirty years of professional practice, I was surprised that most of my students don’t realise that they need to build their skills and gain work experience whilst at university, to build their ‘graduate capital’.
Many think a degree is enough to get a professional job and all they need to do is pass. Therefore, I decided to put together an intensive careers' intervention programme, called RISE.
Careers' intervention programme
During the first year students learn to:
- Tailor a CV to the skills required on a job specification and to ensure their CV passes ATS marking
- Practice aptitude tests and Hire Vue interviews
- Read the news (be commercially aware)
- Apply for spring weeks, summer internships and placement years as this is often the route to a graduate role
- Get work experience as early as possible
- Behave professionally, including how to introduce oneself
- Fully research a role and company and prepare for an interview
- Network and build professional relationships
It’s important that this is taught in the first year as summer internships and placement year applications open at the beginning of the second year and students need to be ready to apply.
Although many in recruitment would regard this advice as standard, most of my students fail to do it, or even realise that they need to.
The fun stuff
On a more practical note, we also do fun stuff as part of the programme.
RISE students meet with someone working in either finance or accounting, to learn how to prepare for a meeting, behave professionally and adjust to the standard expected of a graduate.
I take the students on a walking tour around the city to learn more about the finance industry as few understand what the industry does.
We visit finance firms and a student presents to a professional, explaining what the firm does and how it fits into the wider financial ecosystem. Students practice introducing themselves, presenting and behaving professionally.
Last year we visited the London Metal Exchange, a bank’s trading floor, and the executive boardroom of a boutique M&A advisory firm.
Developing a USP
To prepare students for interviews, I ask them to develop a story about themselves. Students bring in three photos of things that are important to them, and from those we develop a personal story that says a little about them and their USP - what makes them who they are and why they should be hired.
This has helped them to get jobs. A Greek student who was working for his family’s business during the country’s financial crisis successfully used his story to explain why he wanted to work in finance.
Another student used her family’s experience of homelessness to explain why she wanted to work in client advisory at a bank.
A student secured three accounting training contracts by using his story of working long shifts starting at 4am to demonstrate his work ethic.
Talent pipeline
For the last couple of years, I have arranged work experience at Transact (an IFA platform provider), Financial PR firm H-Advisors, Liontrust Asset Management and BMW Financial Services.
This gives students an opportunity that those from wealth and privilege would typically obtain through their parents’ contacts.
It has been so successful that Transact, H-Advisors and BMW hired past students, and Transact and Liontrust are taking students again this year.
Liontrust notes that, “The success of these weeks is highly dependent upon the participation and enthusiasm of those attending. They were a first-class group as demonstrated by their engagement and the quantity and quality of their questions.”
And Transact said, “It is great to be able to create a pipeline for future graduates for our entry level roles and we can keep students’ CVs on the books for any other vacancies that may arise.”
What do students think?
James Li is about to start a summer internship in Hong Kong, “The Rise program provided me with invaluable opportunities—from presenting during induction week to gaining work experience at financial firms. These experiences not only taught me professional conduct but, more importantly, helped me build the confidence to present and express my ideas in front of industry professionals”.
Madi Kadri is about to start a summer internship at H-Advisors, “Being part of the programme has given me access to experiences I wouldn’t have had otherwise, from one-on-one mentorship to career insights directly from industry professionals. It’s helped me grow in areas I didn’t even realise I needed to work on. One of the biggest lessons for me has been realising how much effort I need to put in to prepare for opportunities, whether it's for an interview, work experience or meeting a professional.”
Mirko Grappa is currently on a year’s industrial placement at BMW Financial Services, “Uninformed, unbothered, clueless. This is how I see myself when I look back at my attitude before joining the RISE programme. Coming from a household where no one advanced into higher education, I had no immediate examples to refer to when I started my journey at Kingston University. I possessed the ambition to succeed, but that was not enough to land a placement in such a competitive industry as financial services. RISE gave me the practical tools needed to succeed in the job market that a degree alone cannot give.”
Is RISE a success?
The first year of RISE students have just finished their finals and all six have secured jobs in accounting - two with training contracts, three with training support and one with a summer internship.
Three others are currently on placement year, which should hopefully lead to graduate jobs. I call that success!