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BIG Careers Handbook 2017





Head of  Macquarie  Capital   Macquarie  Group    



Chairman and  Co-­Founder   Greenhill  Australia    


VICTOR HOOG  ANTINK   Special  Advisor   Gresham  Partners    


The BIG Careers Handbook | 2017


Banking 4 Consulting 6 Investment Banking 9 Investment Management 15 Professional Services 19 Treasury 24 Recruitment Ready 26


Disclaimer Every effort has been made to ensure the accuracy of the content in this publication. In some instances, no current information about a company has been available. The list of companies provided are by no means exhaustive and readers are encouraged to undertake their own research. BIG does not take any responsibility for how readers use the information in this publication. All rights are reserved for company logos.



BE THE DIFFERENCE ANYWHERE IN THE WORLD Why just exist when you can shape the world? With the right career path, you can develop into a highly qualified difference maker whose world is boundless. Consider joining the only accounting organisation in Australia and New Zealand that is currently a member of the Global Accounting Alliance, giving you recognition with 10 of the world’s leading accounting bodies. Along with the internationally recognised* Graduate Diploma of Chartered Accounting (GradDipCA), you’ll have a highly desirable portfolio of skills to work in exciting environments all over the world – wherever you want to make an impact. The CA designation will empower you to drive business decisions that help create better societies, communities and economies, for a more prosperous future for us all. It will give you unlimited opportunities to be the difference. Become a difference maker. Become a Chartered Accountant.

*Additional training may be required in some countries. The information in this advertisement is of a general nature only and is not intended to be advice. Chartered Accountants Australia and New Zealand (CA ANZ) does not expect or invite any person to act or rely on any statement, view or opinion expressed in this advertisement. © 2016 Copyright Chartered Accountants Australia and New Zealand ABN 50 084 642 571. All rights reserved.


The BIG Careers Handbook | 2017

Banking |5

Commonwealth Bank of Australia is the largest of the ‘Big 4’ banks, and is currently the largest Australian listed company on the ASX. It is also a multinational bank with businesses across New Zealand, Fiji, Asia, USA and the United Kingdom. Services: Finance and Insurance | Consumer Banking | Corporate Banking | Investment Banking | Investment Management | Wealth Management | Private Equity Website: Vacation Program: Applications for the Summer Intern Program open in July.

Westpac Bank is the 2nd Largest of the ‘Big 4’ banks in Australia and is also the 2nd largest bank in New Zealand. Services: Finance and Insurance | Consumer Banking | Corporate Banking | Investment Banking | Investment Management |Wealth Management |Private Equity Website: Vacation Program: Applications for the Internship Program will open in July.

Australia New Zealand Bank is the 3rd largest of the Australian ‘Big 4’ banks. Services: Finance & Insurance | Consumer Banking | Corporate Banking | Investment Management | Wealth Management | Private Equity Website: Vacation Program: The summer intern program takes place between November and January, with a two week break over the holiday period. Applications open

National Australia Bank is the 4th largest of the ‘Big 4’ banks. Services: Business Banking | Consumer Banking | Wholesale Banking | Wealth Management | Insurance Website: Vacation Program: NAB has many Business Trainee programs which can be inspected in more detail at:

6 | Banking

The BIG Careers Handbook | 2017



McKinsey & Company is a renowned consulting firm that works with its clients to address strategic, operational and technological business issues. Through its McKinsey Center for Government, the firm also conducts extensive research into government performance to overcome critical challenges facing the public sector. Services: Marketing | Operations | Business Technology | Organisation | Corporate Finance | Risk Website: Vacation/Graduate Programs: Undergraduates who are at the start of their final year should apply for the Business Analyst role. Go to pacific/australia/en/careers_in_australia/career_opportunities for details regarding the applications process. The Boston Consulting Group services top public companies, private firms, non-profits and government departments to address acute management needs. This may include developing solutions for mergers and acquisitions (and post-merger integration issues), firm productivity, marketing, turnaround and supply chain management (SCM). Services: Growth Strategy | Corporate Development | Corporate Finance | IT | Innovation | Marketing | People and Development | Operations | Risk | Transformation Website: Vacation/Graduate Programs: See company’s website for vacation/graduate application details as key recruiting dates are yet to be announced.

Considered one of the most prestigious consulting firms and a member of the ‘Big 3’, Bain & Company strategise with their clients to realise objectives across all aspects of business. As a results-driven company, Bain often takes payment in the form of equity so it only profits when its clients do. Services: Customer Strategy | Marketing | IT | M&A | Private Equity | Performance Improvement | Website: Vacation/Graduate Programs: Bain & Company encourages final-year undergraduate, master’s or law degree students to apply for an Associate Consultant position. See the company website for details on when applications open.

Accenture’s global management consulting practice offers business and project integration solutions, inclusive of enterprise resource planning and customer relationship management (CRM). Notably, many regard the company’s technology infrastructure strategies to be leading the industry. Services: Enterprise Architecture & Transformation | Finance | Enterprise Performance | Digital Business | IT | Operating Strategy | CRM | Marketing | Talent (People) Website:

8 | Consulting

Vacation/Graduate Programs: See company’s website for application details. The Accenture Adventure program is a one-day event held in most major capital cities to meet, work and interview with senior Accenture managers.

The BIG Careers Handbook | 2017

Corporate Advisory with James Diamond Where did you intern? I interned with Ventures International Corporation in Singapore on two separate occasions. Why this firm? I wanted to gain international experience. They are also a boutique firm, which appealed to me at the time as larger firms were a bit more intimidating. How would you describe this line of work? In corporate advisory, we basically would take businesses from A to Z and work with them to address issues surrounding their establishment and strategic direction, from structuring, registration and everything inbetween. How did you go about securing an internship? I secured this internship through personal contacts so there wasn’t much of a process. How was your “typical” day? I was into office at 8am and leaving by 6pm, so the day was not that long compared to other lines of work. Day-to-day tasks included meeting with potential and existing clients to guide my research tasks set by my superiors. What did you most enjoy working on? I most enjoyed being amongst the complexities of international business transactions. The firm had an outstanding culture and greatly encouraged me to learn about the extensive area of international firm restructuring.


Investment Banking 10 |

The BIG Careers Handbook | 2017

Key Terminology

2017 Rank 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 25 27 28 29 30

2016 Rank 2 3 5 4 8 11 7 9 16 NR 10 6 12 13 15 14 17 19 NR 20 21 22 23 28 24 25 26 27 18 32

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Company Goldman Sachs & Co. Morgan Stanley Centerview Partners Evercore J.P. Morgan Bank of America Corp. Greenhill & Co., Inc. Perella Weinberg Partners Moelis & Company PJT Partners Credit Suisse Houlihan Lokey Peter J. Solomon Company William Blair UBS Baird Cowen Group, Inc. Citi Institutional Clients Group Loop Capital Markets Lazard Barclays Investment Bank (Americas) Deutsche Bank AG Guggenheim Securities, LLC Qatalyst Partners Jefferies & Company, Inc. Rothschild Wells Fargo & Company Allen & Company LLC RBC Capital Markets Macquarie Group (U.S.)

Bulge Bracket Banks: Refers to toptier investment banks, such as Goldman Sachs, Morgan Stanley, JP Morgan, etc. These banks have full service coverage, including leveraged finance, debt and equity cpaital markets, securities sales and trading as well as dedicated research teams. Boutique Banks: Small- to mid-tier banks who often have a pure advisory focus, or may just be the local arm of an international investment bank. For example, Greenhill is only advisory and generates strong dealflow. M&A: Mergers and Acquisitions. Refers to the provision of advice relating to takeovers of and mergers between companies. Also includes defence of said takeovers. This is the bread and butter of investment banking. ECM: Equity Capital Markets. This is where an investment bank raises equity capital (i.e. common shares) for a company, whether through an IPO, private placement or second raising. DCM: Debt Capital Markets. Given the complexity and size of debt markets, it can often involve cross-border transactions. IPO: Initial Public Offering. The first offering of a company’s shares to the public on a public stock exchange. LBO: The acquisition of a company without the commitment of large amounts of capital. That is, significant money is borrowed to meet acquisition costs. League Tables: Rankings of investment banks tracking performance across M&A, ECM, DCM, etc. See Dealogic.

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Goldman Sachs provides a wide range of investment banking, securities, and investment management services to individual and institutional clients. Regarded as the top dealmaker, Goldman Sachs led 2014 M&A deal volume, global equity and US equity offerings. Website: Graduate (New Analyst) Program: Applications open mid-February and close early April. Summer Analyst Internship Program: Applications typically open early May, and close between early July (Melbourne) and mid July (Sydney and Perth).

Morgan Stanley is a leading investment bank with three key business functions: institutional securities (inclusive of M&A and corporate advisory services); asset management and; wealth management. Website: Graduate Program: Go to programs/analyst.html for further details on analyst programs across divisions. Summer Analyst Internship Program: Go to people/internship-programs/ for further details and key recruitment dates.

J.P. Morgan’s services span investment banking, asset management as well as private and commercial banking. Website: Winter Analyst Internship Program: Internships are offered over the winter vacation break in Investment Banking and Equity Research divisions. Applications open at the beginning of April. Summer Analyst Internship Program: Visit the J.P. Morgan website.

Macquarie is a global financial services provider across funds management, financing, capital markets, advisory and research. Its investment banking arm is Macquarie Capital. Website: Graduate Program: Applications for the graduate program open early in the year prior to the program commencing. Summer Analyst Internship Program: Recruitment for Macquarie’s summer internship program will begin mid-year. Closing dates vary by office location, so check the website for details. 12 | Investment Banking

The BIG Careers Handbook | 2017

INVESTMENT BANKING A brief look inside the Macquarie Capital Internship experience with Chloe Ranicar

I interned back in 2015 for a period of 12 weeks in the Summer Program with Macquarie Capital, working in the Equity Capital Markets division. I applied via the Macquarie website to both the Melbourne and Sydney offices before being asked to complete the online assessment, followed by a phone interview and finally attending an assessment centre. From December 2015 to February 2016 I worked in the Martin Place office doing long days, however they had me working on interesting deals and writing daily reports, allowing me to expand my skillsets whilst at Macquarie. For day-to-day support during the internship program I was paired with a buddy, while being given a mentor for professional development and feedback. The overall experience with the team at Macquarie was fantastic, and they were very welcoming to me. Since completing my internship I was offered and have accepted a graduate position to start at Macquarie in 2017. Also while at Macquarie I had the opportunity to attend events for women in investment banking.

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As one of the world’s largest financial firms, UBS services corporate, institutional and alternative clients through its investment banking, asset management and wealth management business divisions. Website: Graduate Program: Applications will open between March and April. Summer Analyst Internship Program: Applications open in April.

Credit Suisse’s core business functions are separated into: Private Banking and Wealth Management; Investment Banking and; Asset Management. Its corporate finance solutions range from equity and debt finance to IPOs and financial restructuring. Website: Vacation/Graduate Programs: See company’s website for how to apply.

Deutsche Bank provides both retail banking and investment banking services (which encompass capital markets and corporate advisory). With $1.27 trillion of assets under management, the group’s wealth and asset management divisions are amongst the largest in the world. Website: Vacation/Graduate Programs: See company’s website for how to apply.

The investment banking arm of Citi, ‘Citi Institutional Clients Group,’ provides a range of advisory and financing services to corporations, institutions, governments and high net-worth individuals/families. Website: Vacation/ Graduate Programs: See company’s website for details and how to apply.

14 | Investment Banking

The BIG Careers Handbook | 2017

Barclays’ Investment Banking division provides strategic advisory, financing, and risk management services to corporate, government and institutional clients. Beyond this, Barclays offers an array of financial products in private equity and emerging markets. Website: Vacation/Graduate Programs: See company’s Asia-Pacific website.

Bank of America Merrill Lynch raises, manages, invests and protects capital for its clients. The company provides a full range of sales and trading, investment banking and investment management services. Website: Vacation/Graduate Programs: See company’s website for how to apply.

Greenhill squarely focuses on advisory work (including mergers, acquisitions, capital raising and financial restructures) and thus does not have dedicated research and trading divisions. Website: Vacation/Graduate Programs: Applicants interested in an Analyst position in Greenhill’s Sydney or Melbourne offices are encouraged to submit a cover letter and resume to the email address highlighted on the company’s careers website. Greenhill also offers Summer Analyst opportunities for undergraduates in their penultimate year.

Lazard’s business is divided into financial advisory and asset management units. Under its advisory arm, Lazard engages in raising and restructuring company capital and M&A transactions. The asset management teams deliver an array of investment products to private clients, corporations and public funds. Website: Vacation/Graduate Programs: See company’s website for how to apply and application deadlines.

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Investment Management

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The BIG Careers Handbook | 2017 Blackstone is a global management fund overseeing $284bn for a variety of public and private organisations in different industries around the world. Blackstone’s funds partake in private equity, real estate, credit and hedge fund investments globally. The firm also offers an independent financial advisory business which handles highly complex and critical M&A, restructuring and reorganisation assignments. Website: Vacation/Graduate Program: Details are provided on the company’s website for US Campus Recruiting and vacation programs.

JLL is a professional services and investment management firm that specialises in providing a range of real estate services to clients. These include (but are not limited to): Corporate Finance; Strategic Consulting; Office Leasing Valuations and Advisory as well as; Property and Asset Management. Website: Vacation/Graduate Programs: No specific dates are provided on its website, but it does contain some career information, including some tips on interviews and resumes (

Suncorp is one of Australia’s largest banks and multi-service firms outside of the ‘Big 4’. Along with insurance and superannuation products, Suncorp offers portfolio management, margin lending as well as regular banking functions such as term deposits. Website: Vacation/Graduate Programs: The vacation program runs in the summer break from December to February each year with a two week break provided for the Christmas/New Year period. Applications open August each year.

Colonial First State is one of Australia’s leading wealth management groups, with more than A$164 billion funds under management. The company provides investment, superannuation and retirement products to individuals as well as to corporate and superannuation fund investors. Expertise spans Australian and global shares, property, fixed interest, credit, infrastructure and private equity. Website: Vacation/Graduate Programs: No available information on a Vacation Program. Prospective candidates will have to contact the company personally.

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Professional Services

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The BIG Careers Handbook | 2017 PWC operates in 158 countries and provides professional services primarily in the fields of accounting, auditing and assurance, tax, human resources, deals, forensics, and consulting services. Services: Assurance | Consulting | Deals | Indigenous Consulting | Legal Services | People Business | Private Clients | Taxation | Economics Website: Vacation Program: Applications open early in the year for students in the penultimate year of their degree and continue on a rolling basis throughout the year.

Ernst & Young (EY) is the 3rd largest (by aggregated revenue in 2014) of the ‘Big Four’ worldwide professional services firms. Services: Assurance | Tax Advisory | Consulting | Financial Advisory | Strategic Growth Markets | Specialty Services Website: Vacation/ Graduate Programs: Applications open between Februrary and March for both programs. The best bet is to get in early as positions may close as applications are received.

KPMG is a multinational company and is one of the ‘Big Four’ worldwide professional services firms. Services: Assurance | Consulting |Tax Advisory |Financial Advisory |Actuarial | Legal Economics Website: Vacation/Graduate Programs: Applications open for the graduate program in Februrary. Applications for summer internship programs also open in February. Check the company website for further information. It pays to apply early as positions are often filled before the closing date.

Deloitte is the largest professional services network in the world by revenue and number of professionals. The company operates in 150 countrires delivering audit and advisory, consulting and tax services. Services: Audit | Economics | Financial Advisory | Human Capital | Legal | Operations Risk | Strategy | Tax | Technology Website: Vacation/Graduate Programs: See company’s website for details regarding the application process. Based on historical dates, applications for both graduate and vacation programs open in February. Professional Services | 19

grow your career. explore our backyard.

Vincents is a leading Australian mid-tier firm of specialist accounting experts & business advisors providing innovative solutions and superb service in a range of areas. Our firm’s tremendous growth offers talented people rewarding careers – from undergraduate experience through to director opportunities. We will nurture your ability and assist in your professional development through our extensive education and training programs. Join the team responsible for delivering Vincents’ multi-award winning client service.

at vincents you will discover:

rewarding work experiences

ongoing study support

competitive salary packages

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social activities & employee benefits

direct client access

an interactive director environment

true work/leisure balance

The BIG Careers Handbook | 2017

PwC Vacationer Program Experience with Alastair Hall I did a vacationer internship with PwC in Brisbane spanning 4 weeks in November through to December 2016, for which I applied online. During my time with PwC I worked in the assurance division as a part of their internal audit teams. PwC is big on making any work experience a real reflection of ‘real’ employment and as such every task I was given meaningful and realistic. While I spent most of my time in the office, some of my interning colleagues were on client sites all week, however in all cases the work was completely hands-on and real world. All vacationers have a buddy to help them with day-to-day life, and a coach to answer technical questions about the systems we work with, in addition to the managers we do work for. I felt no shortage of support and both my buddy and coach helped me tremendously throughout my time, from how to use the coffee machine to how to submit client documents to the server. As PwC prioritises continuous feedback, both to me as the vacationer and from me about my managers, I reported quite frequently during my tasks, and when I switched to a different team I gave a final ‘snapshot’ of my work. My managers evaluated it, and any feedback they hadn’t given me before was sent through, making it a very constructive culture to build you up and focus on bettering your skills and abilities.

despite being the largest accounting firm in the world. A welcoming workplace is one of the most important characteristics of a career, and this experience reinforced this. Not only that, I had an amazing time while doing it! My time at PwC also provided me great networking opportunities. All the people I did the vacation program with (from all divisions) are now my friends on Facebook and LinkedIn contacts. We had a group chat going throughout the vacation period and its (somehow) still going. This isn’t counting my managers and colleagues I met in the office. I cannot quite express just how social and people-oriented PwC – its basically impossible to not meet amazing people.

For me, the highlight of my experience was just how welcoming PwC is. It really differed to what I was expecting because every day, colleagues genuinely wanted to know how I was. It truly is a people-centric culture Professional Services | 21

Corporate Recovery

| Interview with Dylan Master | Where did you intern? BDO, SV Partners, Ferrier Hodgson

 Networking – meet with numerous staff

Why these firms? They all offer insolvency/ corporate recovery.

 Group Activity – given a problem and have to present a solution in front of Senior Managers and Partners

For those who don’t know, what is corporate recovery? As a basic idea you would - work with companies that are in financial distress to ensure that the right approach is adopted and the best outcomes are achieved for the benefit of secured and unsecured creditors and stakeholders. Numerous approaches can be taken, but commonly you either restructure the business to sell as a going concern or help it trade out of difficulty. Or wind the company up as quickly as possible in order to minimise further losses.

 Individual Activity – 45min Accounting exam  Interview – with senior staff Snapshot of tasks involved? • Investigate bank accounts to see whether a director of the company was transferring money into private accounts, prior to the company becoming insolvent, to avoid paying creditors • Attend Creditor meetings • Review contracts

What was involved in securing these internships? It’s not easy. I attended a presentation by BDO at the CDC and HR encouraged all that attended to apply. As a basic overview, the process involved: • Submitting an online application via the firm’s website (numerous questions and attach resume, cover letter and academic transcript); • Online testing (4 tests) • Video Interview (presented with 4 questions, and have 2mins to answer each question). • Group Assessment at the firm:

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• Report to ASIC How did you find the firms’ cultures? All the firms’ that I have worked at have a very supportive, welcoming and rewarding culture, all highlighted by their differing team structures and social club offerings. Best tip? Undertake as many internships as possible. They help you realise what line of work you like, and don’t like. Additionally, you can gain an idea of the type of firm that suits your needs and a culture you enjoy.

The BIG Careers Handbook | 2017 Grant Thornton is one of the largest players in the global network of independent member firms. Services: Assurance Services | Tax Advisory | Privately Held Business Services | Corporate Accounting | Outsourcing Website: Vacation/Graduate Programs: Applications for the program typically open early March. BDO is one of Australia’s largest associations of independently owned accounting practices, with firms situated all across Australia. Services: Audit | Tax | Business Recovery & Insolvency | Corporate Finance | Forensic Services | Private Wealth | Consulting | Risk Website: Vacation/Graduate Programs: Applications open in February and will be accepted via Pitcher Partners is a national association of independent firms and is also an independent member of Baker Tilly International. Services: Accounting & Business Advisory | Audit, Risk Management & Assurance Corporate Finance | Recovery and Insolvency | Tax Advice | Compliance Planning | Wealth Management Website: Vacation/Graduate Program: No current information available about the application Moore Stephens is one of the world’s major accounting and consulting networks. Services: Audit & Assurance | Corporate Finance | Corporate Recovery| Forensic Accounting | Governance, Risk & Assurance | IT Consultancy | Legal Services | Tax Wealth Management Website: Vacation/Graduate Programs: The website does indicate that Moore Stephens runs vacation Programs, however at the time of writing there is no information. Ferrier Hodgson is one of the largest specialist accounting, corporate turnaround and insolvency management firms in the Asia Pacific region. Services: Corporate Advisory | Forensics | Corporate Recovery | Management Consulting Website: Vacation/Graduate Programs: The website does indicate that some firms run vacation Programs, however at the time of writing there is no information. Professional Services | 23

The BIG Careers Handbook | 2015

24 | Treasury Investment Banking

The BIG Careers Handbook | 2017

As a central policy agency, the Commonwealth Treasury analyses economic issues and works with various stakeholders to provide national policy advice. Website: Graduate Program: Go to program.asp for information on the program’s rotations and to keep up to date with key recruitment dates.

Queensland Treasury and Trade (QTT) manages the state’s finances, collect certain taxes and procures infrastructure. Website: Graduate Program: Apply for QTT’s GRADStart program through the Queensland Government Graduate Portal. Go to: Vacation Program: Applications for the vacation employment program are usually accepted in May and October each year. Details of vacancies are published at this time through the Queensland Government Graduate Portal. Scholarship Program: Applications are usually accepted August each year.

The NSW Treasury advises the state government on policy and economic conditions/issues. The department also coordinates the State Budget, manages state assets, monitors expenditures and budgets of government agencies. Website: Graduate Program: Go to for details regarding the recruitment process and to keep updated with recruitment dates. Based on information for previous years, applications open mid-year.

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Recruitment Ready What’s on offer for Commerce students? Whether you see your future career path involving amassing capital for major transactions (investment banks) or leading a team to advise clients on business strategy (management consultants) or analysing financial management statements for a large conglomerate, there is lots to consider. Most graduate programs offer an accounting or finance stream and the challenge will be to narrow down your choices.


The first interview will most likely be with a graduate recruiter from the organisation before an assessment centre and will be either a phone or a video interview. Both will generally take 15 minutes and are used to confirm a few details on your resume and check your communication style along with your interest and knowledge of the role. The second interview will be with a senior member of the organisation and may be a panel interview with a number of people from a particular division you have applied to. Third and fourth round interviews are not uncommon.

For additional support and suggestions please make an appointment with one of the team at the CDC. T: 07 5595 3386 E:

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Online Applications

All applications will start with an online application. Some employers will ask you to complete forms addressing selection criteria and others will require you to upload a cover letter, resume and transcript. Online Tests Psychometric testing is very common practice for recruiters and is administered online under strict time restrictions. You may encounter numeric and/or reasoning questions and it is important that you answer these accurately and honestly. There are websites that can assist you with practicing this stage of the process. For more information about verbal, numeric and abstract reasoning testing see

Assessment Centres

Assessment centres are an opportunity for an employer to observe you in a team setting. It often involves a set task and time limit. Employers will look for, amongst other things, problem solving, leadership, collaboration, idea generation and time management skills. This may entail case studies, group presentations and exercises.

The BIG Careers Handbook | 2017

Get involved on campus by joining clubs and societies! Join professional associations CFA, CPA, CA, FINSIA

Attend industry events

Women In Business Evening, Titans of Industry, Careers Fair, CDC Meet & Greets.

Research and apply for internships and vacation programs.

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BIG Careers Handbook 2017  
BIG Careers Handbook 2017