Volume 9 Issue 1 | 2017
the recap O-Week Edition
Market Recap Vidhi Nanda
First year guide to university henrietta chui
Exclusive Interviews with Sponsors
President's Welcome Welcome to 2017! Whether you are a first-year student embarking on your new university journey, or a final year student ready to close this chapter, we hope you make the most out of all the exciting experiences that this year offers. To our first-year students, we are delighted to welcome you to this next phase of your life which is university! This is the time which you should dare greatly and try out these new and incredible opportunities. Join various student societies, participate in collegiate sports, UniGames or go on exchange – the world is your oyster! To our returning students, make this the year that counts - take on every opportunity that is available, and use these enriching experiences to make yourself stand-out. To all students applying for graduate and internship positions, we wish you all the very best. 2017 is Capital W’s tenth anniversary and we have an exciting year ahead planned for our members. So, take the time this year to learn more about Capital W, come to our skills workshops or networking events, and equip yourself with the skills and networks that will put you one step closer to your dream job. Come and join us in celebrating Capital W's 10th Anniversary – we can't wait to meet you all in 2017! Tina Vo & Lauren Maxwell | Co-Presidents 2017
CONTENTS Exclusive Articles 1 Co-President's Welcome
By Tina Vo & Lauren Maxwell
2 Capital W Executive Team 2017 Meet the Executives!
4 Market ReCap
By Vidhi Nanda
5 First Year's Guide to University By Henrietta Chui
7 Bank of America Merrill Lynch Exclusive Interview with Angela Harding
9 Commonwealth Bank
Exclusive Interview with Caitlin Manzo
10 Credit Suisse
Exclusive Interview with Sarah Tan
Exclusive Interview with Larni de Courtenay
16 Morgan Stanley
Exclusive Interview with Louise Mylott
Editors Tina Vo (Co-President) Vidhi Nanda (Publications Director)
Exclusive Interview with Julia Hempenstall
Our contributors for this edition Henrietta Chui, Vidhi Nanda, Tina Vo, Chelsea Leung, Tricia Argeseanu Special Thanks to Our Contributing Sponsors Bain & Company, Bank of America Merrill Lynch, Citi, Commonwealth Bank, Credit Suisse, Deutsche Bank, EY, Macquarie Group, Morgan Stanley, PwC, Uber, UBS, Westpac Institutional Bank,
20 Westpac Institutional Bank
Exclusive Interview with Kirsty McCartney
21 Events Calendar
Capital W's major events in summary
21 Recruitment Calendar
Disclaimer: "The Market ReCap" article is general in nature and written by a student. The information should not be construed as professional financial advice and/or opinion. Statements and opinions expressed are of the author and do not represent the opinion of Capital W. The author and Capital W will not be held responsible for any liability arising from your actions. Please do your own research and come to your own conclusions, or consult with a licensed professional.
The ReCap 2017 Issue 1 | Page 1
A valuable source for deadlines regarding internships, graduate programs and special opportunities!
Capital W Executive Team 2017
What is your favourite thing about being on the Capital W team? The best thing about the Capital W team is being surrounded by like-minded, motivated and driven female peers that have all pushed me strive for greater things. I’ve developed a strong support network and long-lasting friendships with fellow members, executives and alumni that will last beyond my university career, and I would not be here without Capital W.
What have you gained by being part of Capital W? As a part of Capital W I have established a strong foundation of essential career-related skills including networking, event organisation and teamwork. Capital W has also been a fantastic way to meet like-minded student leaders who openly welcomed me to university life as a first year when I first became involved with the society.
Lauren Maxwell Co-President Fifth Year Commerce/Media
Tina Vo Co-President Fifth Year Commerce/Science (Mathematics) Where is the best food on campus? Max Brenner hands down. Their hot chocolate served in hug mugs is heaven during winter. It’s also a nice place to meet up with friends or study between classes. For a more substantial meal, look no further than Mamak next door which offers all sorts of addictive Malaysian dishes. It is guaranteed that you’ll keep coming back for their Mie Goreng or Nasi Goreng!
If you were given all necessary funding to change something on the university campus, what would it be and why? I would link all the buildings together so you wouldn’t need to venture outside at all on bad weather days.
Chelsea Leung Vice-President (External) Third Year Commerce Co-op
Estelle Pham Vice President (Internal) Fourth Year Commerce/Economics What is your favourite thing about being on the Capital W team? Definitely the people. Everyone is always so enthusiastic and passionate – it’s infectious. From the execs, to the directors to my fellow subcommittee members, being around like-minded young women motivates and inspires me every day to take on new challenges.
Stephanie Xu Treasurer Third Year Actuarial Studies
What advice would you give to a first year? To any first year I would say create your own definition of university and make it unique to you. For me, university was about more than my classes so my first year saw me participate in a number of clubs, organisations and social groups that allowed me to explore what I ultimately wanted from my three years here at UNSW.
Gracie Logvyn Secretary Third Year Economics What is your favourite thing about being on the Capital W team? Working with all the members on the Capital W team! Each member brings a unique skillset and perspective to the team, and this combined with everyone’s zeal and encouraging disposition makes implementing Capital W’s events and initiatives a true pleasure.
Ashley Chen IT Co-Director Second Year Actuarial Studies
Megan Miranda IT Co-Director Second Year Info-Systems Co-op The ReCap 2017 Issue 1 | Page 2
What do you think is the modern relevance and importance of having a society on campus primarily dedicated to encouraging females in business? There is a great importance in having societies such as Capital W which are able to inspire women to pursue business oriented careers. This is because there are many opportunities provided to females in the business world that often go unnoticed. Having a society which not only creates but also encourages women to pursue these opportunities gives talented females the support needed to take the extra step towards their careers.
Capital W Executive Team 2017
Who has been a major influencer in your life, and how have they influenced you? The people who have influenced me the most throughout my life have been my friends and family. They’ve always encouraged me to challenge myself, pursue my own goals and learn as much as I can by embracing new opportunities.
What prompted you to join Capital W? The dynamics of gender equality and the role of women in business are constantly evolving. It is increasingly important that support is provided to emerging businesswomen so that they can be transformed from being motivated, intelligent students to leaders in industry. Capital W engages women in meaningful Henrietta Chui conversation and a network of support, Marketing Co-Director focussing on the strengths and talents of Second Year women. After signing up for many societies Commerce Co-op during O week, I found that Capital W’s mission fits the needs of females studying business perfectly.
What are your hobbies? In my spare time I enjoy volunteering with various organisations. In the past, I have volunteered as part of The Salvation Army as a youth ambassador dedicated towards social injustice as well as with Destiny Rescue where I had the chance to fly to Thailand and Cambodia to broaden my perspective on sexual trafficking and abuse. Whilst it is important to maintain your university workload, remember there is a wider scope than to study and work. Keep yourself entertained with something you're passionate to achieve.
What do you think is the modern relevance and importance of having a society on campus primarily dedicated to encouraging females in business? The idea of having a society primarily dedicated to female business students is incredibly relevant as women are often under-represented in top-level management positions. Capital W actively seeks to provide that link between its member’s aspirations and its dedicated sponsors. By doing so, Capital W attempts to positively address this under-representation.
Vidhi Nanda Publications Director Second Year Commerce/Law
Lily Zhang Marketing Co-Director Second Year Commerce/Information Systems
Patricia Argeseanu HR Co-Director Third Year Commerce Co-op
Karuna Narang HR Co-Director Second Year Commerce/Engineering
What advice do you have for those who aren't too sure of what direction they want to go? If you’re not too sure what direction you want to go in I would highly recommend getting involved in as many extracurricular societies as possible. This would give you a wide exposure to different career paths you can take such as consulting or investment banking, whilst allowing you to figure it out in a friendly, student-run environment.
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Market ReCap Vidhi Nanda Publications Director Australia
In the December meeting of 2016, the RBA decided to leave the cash rate unchanged at a historical low of 1.5%, following its first cut in May to 1.75%. This was in response to the slower year-end growth and a low inflation rate of 1.5%, still below the 2-3% target range of the RBA. At the same time unemployment has decreased to 5.6%, with all of the employment growth over the last year being in part-time employment, with an increased share of the labour force reporting they would like to work more hours.
Despite Brexit, terror attacks and numerous other political events over the last year, the Eurozone’s GDP growth improved to 0.5% in Q4 of 2016 following a rate of 0.3% in the previous two quarters. Growth is estimated at a steady rate of 1.5% for 2017, with the primary growth engines including low interest rates, improving employment and a weaker euro. Spain is expected to lead the pack with a healthy growth rate of 2.4%, following Germany and France respectively. However, there remains political risks arising from the French Presidential Election in April and May, and German Federal Election in September, that threatens the survival of the EU if other states were to follow Britain’s lead and exit the union.
The outlook for 2017 is mixed. According to Governor Philip Lowe, Australia is still in the midst of its transition following the mining investment boom and as such, increases in resources exports are expected as projects are completed. Announcements by OPEC about reductions to oil supply has led to the recent rise of coal and iron prices which have provided hope for stronger growth for Australia, however this is unlikely to be sustained. The wake of the US election has further fuelled global uncertainty and could lead to lower levels of investment for Australia. Despite this, GDP is expected to expand by 2.8% in 2017, unchanged from last month’s forecast. China China averaged a growth rate of 6.8% in the last quarter of 2016, its slowest growth rate since 1990. The primary contributors include a severe slowdown in manufacturing and construction, once China’s main growth engines. This has induced speculation and fear amongst investors, with capital leaving China at an unprecedented rate. While China has hoped to rebalance its economy away from investment and export-led growth towards domestic consumption, it is proving rather difficult for the government to encourage households to spend more. At the same time. the Chinese yuan has also come under pressure, sliding to eight-year lows amid speculation of capital outflows in the wake of the US election.
US The end of last year saw steady gains in the labour market and a drop in the unemployment rate to 4.6%, its lowest level since 2007. Growth is expected to increase to 2.1% in 2017, with the primary growth engines including high consumer confidence, rising oil prices and improved conditions supporting the manufacturing sector. This is subject to change due to Trump’s possible policies and it is expected that while Trump’s plan for sizeable tax cuts and infrastructure spending could improve growth, it runs the risk of overheating the economy to near full employment. It also needs to be seen whether the increased fiscal expenditure and tax cuts will support growth and offset the risks present from immigration and trade restrictions, such as the disposal of the TPP. Strong valuation in equities since Trump’s election in November is proving hard to be sustained, with a turbulent first few weeks to Trump’s presidency and corporate results meeting the high expectations of markets putting a halt to the gains experienced in the equities market.
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First Year’s Guide to University
Before semester starts…
Food means friends!
Participate in O-Week! Go on a Yellow Shirts campus tour and find out where all your classes will be, sign up for some societies and grab some freebies!
Socialising and surviving at uni will very much revolve around food and coffee. In the US they have the term ‘Freshman 15’ for the weight gain commonly gained in first-year. Fair warning, it’s not hard to join the ‘First-year 5’ club when UNSW has such a great variety of food options.
Download the Lost on Campus app and find out where classrooms, lecture theatres, bathrooms and microwaves all are. This app is an absolute lifesaver. Don’t buy new textbooks unless you absolutely have to! Check out StudentVip, Facebook groups and ask friends in older years for second hand textbooks. You’ll be able to score great deals and save some extra cash for some of the awesome food we’ve listed below…
Your first class You’re no longer at high school and this definitely means more responsibility and self-management is required. Stay consistent with the way you take notes and try out applications like Evernote or OneNote to stay organised with your different subjects. University is 100% what you make of it, as the saying goes, you reap what you sow. It’s really easy to come to uni, go to class, go home and avoid human interaction but it’s the people you meet at UNSW that will make your experience worthwhile. So be friendly, ask someone for their name, what high school they’re from and what classes they’re taking.
Be friendly and be courageous - you’ll be surprised at how many great people you meet.
There are several contenders for the best coffee on campus but it’s hard to beat Will and Co on lower campus and the library coffee cart on upper campus. Some foodie hot spots not to be missed include: Making your own salad at Stock Market, grabbing a cinnamon or Nutella scroll from Quad, trying UNSW’s version of the infamous Halal Snack Pack, having sweet potato fries and pizza at Whitehouse, grabbing a gourmet pasta from Stellini’s… the list is endless!
So what are you waiting for?! Embrace first year and all the experiences thrown at you because the year definitely flies by. Remember to try your best in classes because although “P’s can technically get degrees”, a good WAM can also be incredibly useful when you look at going on exchange or try to land internships further down the track. So make sure in 2017 you take care of yourself, dream and achieve because in the words of Cady Heron aka. Lindsay Lohan,
‘the limit does not exist’.
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WORLD CHANGERS WANTED.
WHO WE ARE
Bain & Company is one of the world's leading management consulting firms. We support companies in important decisions on strategy, operations, technology, organisation, private equity and M&A – cross-industry and cross-border. Together with its clients, Bain works towards achieving clear competitive advantages and upgrading enterprise value over the long term. Since our foundation in 1973 we have been measuring our success by the results of our consulting work. Bain has 53 offices worldwide and employs over 6,000 people working with major international corporations in more than 60 countries.
WHAT WE DO
At Bain, we help the world's top leaders solve their toughest challenges. Our work fuels the growth of many industries; it creates change for some of the most influential organisations and notable brands around the world – and when those organisations are truly doing things right, they are positively impacting people’s lives around the world. You will personally be a part of driving that world-changing impact – developing creative solutions to real-world problems and then working in the trenches with senior leaders to achieve change across their organisations. You will leave your mark and together, we will change our world.
WHO WE LOOK FOR
Our "product" is our ideas, the solutions to many of the world's most complex challenges. We’re looking for all-rounders − independent thinkers who thrive as part of a team. We recognize that everyone is different and everyone will bring their own unique experiences and perspectives to the team. The essential skills we'll be looking for in an undergraduate are: a demonstration of exceptional academic performance and strong analytical, interpersonal and leadership skills. They are a group of high-achieving people from broad backgrounds.
OUR RECRUITMENT PROCESS
All applications need to be made online – please note applications for class of 2018 close Wednesday 1st March 2017. Please go to www.bain.com/careers to submit your cover letter, CV and academic transcript. Our interview process consists of two rounds of interviews, with two to three interviews per round. All interviews are case-based and run for 45 minutes.
BAIN & COMPANY WILL BE PRESENTING ON-CAMPUS. FOR MORE INFORMATION GO TO WWW.BAIN.COM/CAREERS NOTE: APPLICATIONS CLOSE MARCH 1ST
Email firstname.lastname@example.org or visit www.bain.com/careers
Exclusive Interview with Angela Harding Angela Harding Analyst, Real Estate Corporate Advisory Bachelor of Economics & Commerce, University of Queensland
What is your background? I studied a Bachelor of Economics and a Bachelor of Commerce at the University of Queensland. In my penultimate year, I got an Investment Banking Summer Internship position at Bank of America Merrill Lynch where I came back to work as a full time analyst the following year. I now work in the Real Estate Corporate Advisory team as an analyst at BAML. What motivated you to pursue your current line of work and what aspect of it do you find most rewarding? After going to a number of networking events and speaking to UQ Alumni, it became clear that investment banking would be a challenging but rewarding career that would suit me. I have always enjoyed finance throughout school and found other corporate finance internships I had undertaken very stimulating. The aspect of work I find most rewarding is the real-time, fast-paced and high profile nature of the work, particularly when dealing with large cap ASX-listed clients. You get a lot of exposure to a client’s key decision makers and their strategic thoughts. It’s even more rewarding when you get to read about the work you are doing on the paper! If you could say something to your 18-year-old self, what would you tell her? If you want something that seems unachievable, set your sights on it and make a plan of the small things you can do to get there. Stick to the plan and work hard. You might not always see results straight away or exactly as you had intended but it’s a marathon not a sprint.
The theme of this Recap is ‘New Frontiers’. Throughout the course of your career, how have you best adapted to and taken advantage of new opportunities? As an analyst at a global financial services firm, I genuinely believe the opportunities are endless. My best piece of advice, and what I have done in my career, is to be open minded and have a willingness to learn. I have found that continually learning new skills, expanding your knowledge base and being a trusted team member positions you well to capitalise on new opportunities that present themselves. What mindset should a new university student adopt in order to ease the transition into the workforce? One of the main goals at university is to learn. Keep in mind, particularly in the earlier years of your career, that this is still one of the main goals – just a slightly different environment! Instead of a university lecturer or a tutor, you have a team of very qualified professionals around you that will personally invest in your development. How important do you think the years spent in university are? My years spent at university were very important to my development, career ambitions and professional network. Not only was university where I learnt the fundaments of what I do in my day-to-day job, but it is also where I met a very valuable network of very bright, like-mined individuals. These people educated me on the career choices available to me, which was a huge influence in my path to investment banking, and have since been great mentors. Further, the people I met at university have ended up in wide-ranging careers - from economists, consultants, accountants and other bankers to engineers and doctors - and you never know when you might need to leverage these connections in the professional context!
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Exclusive Interview with Caitlin Manzo Caitlin Manzo Institutional Banking & Markets Summer Intern (Innovation Lab) Bachelor of Science (Vision Science) and Economics, UNSW What is your background? My degree background is science, in particular optometry. In high school, I absolutely loved science, especially chemistry and biology and I also had a passion for mathematics. I finally ended up choosing a science degree at UNSW after taking a gap year to travel. I took an interest in Optometry after I started working for a local practice during my gap year. It was a challenge that I loved and probably will always love, however I found myself looking for something bigger. Over time I began to realise I did not see Optometry as a long term career. The transfer process from Science to Optometry admin-wise was hard work, and because of that I was reluctant to give it up. What motivated you to pursue your current line of work and what aspect of it do you find most rewarding? The change from Optometry into the Business School was totally terrifying but I had an opportunity to follow a career path that wasn’t related to what I studied. I often like to quote U.S. congresswoman Marianne Williamson when I talk about this pretty big change I made, who wrote “Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure.” So I attended a Capital W networking dinner and sat at the Commonwealth Bank table. I was totally mesmerised by the stories that were told that night. I attended another CBA event held in the Innovation Lab, where my internship has been based, and I was hooked. The most rewarding part has been contributing to these projects and feeling like I belong to an organisation who genuinely have a positive impact on society.
The theme of this Recap is ‘New Frontiers’. Throughout the course of your career, how have you best adapted to and taken advantage of new opportunities? I think what I have adapted is my thinking. I stopped thinking negatively. Never feel as though you can’t achieve what you want because you aren’t smart enough, aren’t good enough or don’t come from a certain background. I can say with some certainty that without that Capital W dinner, I probably would not be in the internship program today. I was so scared and nervous but I pushed myself to go to a networking event where I knew no one and came from a very unusual degree background. I was invited to another event on the back of that one and then went through the internship application process. Opportunity dances with those already on the dance floor, so get out there and move. What do you think are the biggest challenges that female professionals may face in their careers, and what is your advice for overcoming them? The second part of that Marianne Williamson quote is “your playing small does not serve the world. There is nothing enlightened about shrinking so that other people won't feel insecure around you.” Speaking as a woman entering the professional environment for the first time, I think we are often taught or conditioned to shrink away and to think that we aren’t enough. My advice is to do the opposite of shrink. Play into your strengths, show people your talents and don’t get caught up in what other people are doing. If you could say something to your 18-year-old self, what would you tell her? Firstly, I would say that if it doesn’t feel right, it probably isn’t. If you keep thinking the grass looks greener on the other side go and look at the grass! You wouldn’t even be thinking about it if you were busy enjoying your own green grass. It’s important to know what else is out there.
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Exclusive Interview with Sarah Tan Sarah Tan Analyst, Investment Banking and Capital Markets Bachelor of Commerce/Law University of New South Wales
What is your background? I attended the University of New South Wales where I studied a double degree in commerce and law. I am now a second year analyst in the Investment Banking and Capital Markets (IBCM) department at Credit Suisse. What motivated you to pursue your current line of work and what aspect of it do you find most rewarding? When I started my degree, I didn’t know about investment banking but gradually took an interest by attending networking events and my own research. As a junior analyst, I was given responsibilities and given the opportunity to become an important contributor to the team’s work. The financial markets are dynamic and fast-paced, and I am always challenged to learn or experience something new. The theme of this Recap is ‘New Frontiers’. Throughout the course of your career, how have you best adapted to and taken advantage of new opportunities? Having an open mind and a willingness to try new things are important qualities to have. My first job was working at the United States Consulate. The experience gave me a rare glimpse into diplomatic relations and what it’d be like to work in an American workplace. The years you spend at university are important in assisting you to work out what career you might like, so cast your net wide and discover what suits you best.
In striving for your goals, what would you say are your main motivations and inspirations? I have a curious mind and love learning new things. From every job I’ve had, I believe I’ve learned something new and seen a new side of a transaction. In my career, I hope to develop a widely translatable skillset which reflects my multidisciplinary background. If you could say something to your 18-year-old self, what would you tell her? Be confident. Learn how to sell your strengths and do not be modest about your achievements. Consider your unique experiences or interests which set you apart from others. What mindset should a new university student adopt in order to ease the transition into the workforce? Day 1 on your first job can be a nerve-racking experience. I’d suggest taking a part-time job during your degree so that you become familiar with the lifestyle and learn how to balance university/personal commitments with work. How did you work towards your academic, career and life goals during university? It’s not easy balancing full time university with a part time job, extracurricular activities and spending time with family and friends so there is a level of planning/ organisation that is required so that you don’t fall behind with university work and ensure that you still have time to enjoy activities outside of university as well.
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We look for future leaders with a wide range of interests, backgrounds and degrees. credit-suisse.com/careers
Credit Suisse is an equal opportunity employer. ÂŠ 2017 CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.
Exclusive Interview with Larni de Courtenay Larni de Courtenay Partner, Transactions in Advisory Services Business Bachelor of Arts in Psychology & MBA
What is your background? I am currently a Partner in Transactions in Advisory Services Business and have been for 4 years. I have been with EY for 11 years and it’s an incredibly friendly culture where everyone is always willing to help someone else out. Before starting at EY I spent two years at Qantas and two and a half years at IAG, both in internal consulting. Prior to that I spent 5 years at Accenture after studying a Bachelor of Arts in Psychology as well as an MBA. My current role is focussed on corporate finance, M&A in government and power and utilities and contrasts to my previous roles which were in more general consulting, implementing IT systems and business strategy consulting. I wanted to work in something exciting and fast-paced where I felt I could really make a difference so I moved into the world of transactions. What motivated you to pursue your current line of work and what aspect of it do you find most rewarding? Helping clients and understanding client issues truly enables me to make a positive difference. This is particularly evident when working in government as I can see the tangible outcomes from my work, for example, designing and supporting programs of work that impact people with disabilities or kids in foster care. This definitely aligns with EY’s motto to “Build a better working world”. In addition, my current role in a leadership position enables me to help junior members and provide them with advice I’ve gained from my experiences, and this is really rewarding.
If you could say something to your 18-year old self, what would you tell her? You truly can overcome any challenge. Be respectfully present in meetings and vocal about your points of view in a positive way. That is, engage and be engaged in a constructive and balanced way that isn’t perceived as aggressive. You are more than capable and just as worthy as everyone else around you, you should have the confidence to speak up, be present and drive your career in whatever way you want to. The theme of this Recap is ‘New Frontiers’. Throughout the course of your career, how have you best adapted to and taken advantage of new opportunities? Throughout the course of my career, I’ve had many personal opportunities but it’s been a mixture. At times I’ve felt my career has stalled while at other times I have been given invaluable opportunities to progress. Having a child definitely played a part in stalling my career but it also showed me that it is paramount that you don’t let disruptions derail you from seeking out your ambitions and achieving your goals. Stay true to who you are and don’t get side-tracked, no matter what the challenge is. What do you think are the biggest challenges that female professionals may face in their careers, and what is your advice for overcoming them? Elements of discrimination still exist in the workplace, even if they are mostly non-intentional. It’s subconscious, it’s subtle and they’re often assumptions about what women want to do, what they’re capable of contributing and their style of leadership. Career progression following a woman’s decision to have a child remains one of the biggest challenges in our careers. Although men are also beginning to face similar issues, it’s crucial that women don’t get sidetracked, stay employable and continue to achieve and strive towards their goals. It’s all about being flexible and running the race on your own terms. Women, take every challenge into your stride, put your hand up for every opportunity and keep looking to be challengedthat’s something that EY absolutely focuses on.
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How will your ideas make the world work better? Student opportunities in 2017 ey.com/au/betterbeginsnow #betterbeginsnow
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Where will a career at Macquarie take you? Macquarie opens up a wealth of opportunities. There’s no set path. It’s up to you which direction you take your career. It’s up to you to own your future.
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Exclusive Interview with Louise Mylott Louise Mylott Executive Director, Institutional Equity Division Bachelor of Commerce (Economics Honours), UNSW What is your background? I attended UNSW where I studied a Bachelor of Commerce (Honours) majoring in Finance and Economics and I completed an Honours year in Economics. I’ve been with Morgan Stanley in various roles for twelve years and transitioned from Investment Management to the Institutional Equity Division. During my time at Morgan Stanley, I’ve been involved in growing Australian businesses and I worked at the New York Sales desk with a focus on Asian equities. Eventually, I came back to Australia and now focus on a blend in specialist sales in real estate and real estate stock as well as broader Australian equity based here and off-shore. The theme of this Recap is ‘New Frontiers’. Throughout the course of your career, how have you best adapted to and taken advantage of new opportunities? Firstly, it sounds like a cliché but you have to find something that you enjoy and that suits your personality. In terms of adapting, always be open to ongoing education and maximise the option value of your career. Actively keeping your eye out for opportunities in a balanced manner is important. Be vocal about what you want to pursue and how you want to go about that. If you could say something to your 18-year-old self, what would you tell her? I would re-iterate the importance of maximising the option value of your career. I love and I have always worked in financial markets. But with rapidly changing skillsets and technology, the world is increasingly becoming a more global place. Transitioning into a different industry and line of work is challenging further on in life.
I would tell my 18-year-old self to not pigeonhole yourself too early. Try to worry less about job titles and remuneration and give yourself the maximum optionality. If you decide one- day to transition from a stock-broker to a completely new division, make sure you set yourself up early with as many tools to help that transition. How important do you think the years spent in university are? They’re extremely important years. Going back to my 18-year-old-self, I would approach university very differently to how I did. The contact hours of my Economics/Commerce majors were comparatively low to other degrees such as Medicine and Engineering. So I would’ve liked to have treated university not as the number of contact hours but as a 9-5pm job as my dad would often say. The underlying drive is to discover your passion, get to know your classmates, lecturers, academics in your department and what the university can offer you. There are a lot of things I could have tapped into and it’s just as important to build a network in University as it is in the workforce. I would recommend exploring what university can offer you whether that may be studying abroad or completing honours and how you can take up those opportunities. Is there a particular academic or career-based opportunity that you’re proud of in your time at university? One thing I was pleased with was to stick out the extra years and do honours as it differentiates you from your peers when applying for jobs. Completing that honours year allowed me to work in the Department of Economics at UNSW whilst doing my thesis. I tapped into a lot of new-found academics and got a ‘flavour’ for academic life as well as other career options. In perspective, the extra year compared to your whole working life is not much. That extra time in honours allows you to challenge yourself and is completely different to the first three years and I’m glad I completed that additional year.
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Do the extraordinary.
Annabelle is an Associate in the Cyber and Forensics team at PwC - yes, you heard that right...Cyber and Forensics. You may immediately be thinking NCIS and all things digital...but there is more than meets the eye when it comes to working in this area of the business. As a trained Private Investigator, Annabelle gets to undertake forensic investigations in order to solve financial crimes each and every day. The Cyber and Forensics team assists the private and public sector to resolve issues and create safeguards against potential money laundering, fraud, bribery and corruption. “It’s a great team. The work is fast paced and I am constantly challenged to think outside of the box. Everyone brings a different perspective to the table which is important when trying to solve forensic matters.”
Annabelle Scott Associate, Cyber and Forensics Applications for our 2018 Vacation and Graduate programs will open Monday February 20th, 2017! Please visit our PwC Student Careers page: www.pwc.com.au/studentcareers.html
© 2017 PricewaterhouseCoopers. All rights reserved. PwC refers to the Australian member firm, and may sometimes refer to the PwC network.
Annabelle didn’t always know she wanted to take her career in this direction. On completion of her High School Certificate, she had planned to study physiotherapy. However, after a year of living abroad and speaking to lots of different people, she decided that an accounting degree would provide her with opportunities to live and work in both Australia and overseas. Annabelle studied at The University of Sydney where she undertook a Bachelor of Commerce/Bachelor of Arts (Accounting, International Business and French). During this time she completed three exchanges in France, LA and NYC. “Learning a language at university and studying overseas was a challenging but very rewarding experience,” she explains. “I learnt how to adapt to new environments and cultures very quickly. This skill was also very useful when I started at PwC.” Annabelle’s incredible travel experiences did not stop when she joined PwC. During her time here, she has had the opportunity to travel to Singapore and Kuala Lumpur with a client where her team provided training to the client's senior leadership, teaching them how to conduct their own investigations. This, she says, has been a real career highlight! She is hoping travel to Europe and the USA will be on the agenda for 2017!
Annabelle has also become involved with PwC’s Diversity and Inclusion Symmetry committee through which she Each member firm is a separate legal entity. has been given the opportunity to host several internal and external events in Please see www.pwc.com/structure for order to promote PwC’s Diversity and further details.
Inclusion agenda. And her efforts have not gone unrecognised... As the runner up firmwide PwC D&I "Above and Beyond" award, Annabelle was not only nominated for her significant involvement in Symmetry but also for being a founding member of LMBDW: an international female entrepreneurial group that over the past year has grown to 27,000 members around the world! The group provides on-line peer support, advice and face-toface networking opportunities. Annabelle has introduced a number of partners across the firm and has been a key player in building the community at a global level. “Being apart of this group has allowed me to continue my passion for entrepreneurship. I have been able to use my internal and external networks to find mutually beneficial opportunities for both the group and PwC.” Working in Cyber and Forensics presents exciting challenges and requires a high attention to detail. To stay focused, Annabelle says it is important to maintain a balanced lifestyle. “Whether it is before or after work, I always find time to exercise as this helps me to concentrate. PwC’s flexible working hours are great for helping me shuffle things around to ensure I don’t miss this.” “I am also currently completing my Chartered Accountant Program. Studying and working can be challenging but PwC has been very supportive and given me extra time to study when I need to.” When she first joined PwC as a Graduate, Annabelle applied for a position in the consulting business. PwC recruitment helped her discover the Cyber and Forensics area of the business, and there she found her perfect fit! “When applying for graduate roles, I think it is good to be open and apply to areas of the business, especially ones you have never heard of. You never know, it may turn out to be your dream job!” Throughout university Annabelle had hoped to work at an international firm, like PwC, that would provide her with opportunities to live and work overseas. Annabelle hopes to complete a two year secondment with her team in the near future.
Exclusive Interview with Julia Hempenstall Julia Hempenstall Sydney City Lead for UberEATS Bachelor of Chemical Engineering (Co-op), UNSW
You’re right on the digital disruption frontier at Uber. Can you talk us through what you’re working on? I’m the Sydney City Lead of UberEATS, which we launched in July 2016. The service is all about drawing on the existing 18,000-strong Sydney Uber driver network to branch into food delivery. We started with 100 restaurants in 20 suburbs and now, six months later, have about 600 restaurants in over 100 suburbs, so it’s moved really quickly. What did you do before you joined Uber? I studied Chemical Engineering at UNSW under a Coop Scholarship, and decided to work for a major oil company after graduating, so I’d have the opportunity to work overseas. I joined a graduate program at Shell and spent a couple of years as a process engineer on Sydney Harbour, spending my days cruising on a bicycle between tanks in Greenwich. I was actually the first woman ever to work on-site there, where just about everyone was a 50-year-old male. Then I moved into the more commercial parts of the business. I took an economics and scheduling role in Melbourne - a job that I used to liken to running a bakery. Every day we were baking gasoline cakes, jet fuel cakes and bitumen cakes and my job was to make sure we had all the right ingredients and the recipes were perfectly executed. This led to roles in commercial negotiations and trade, and a lot of overseas travel throughout the Americas and Europe (for both work and pleasure). In 2015, I returned to Australia and started at Uber as an Operations and Logistics Manager, then took the UberEATS role in June 2016.
What was it like, being a 22-year-old female in the 50-year-old male dominated environment of the oil refinery? To be honest, I take a pretty casual approach to most interactions and using humour has been a good way to deal with odd situations. I tend to either laugh things off or use them as an anecdotal story; that then becomes a bit of a joke I feel comfortable sharing as a learning. I feel like the important part is trying not to see gender as a barrier, recognising that most people can be reasonable, and being confident in the way that you go about things. What made you choose to study Chemical Engineering at UNSW? I was inspired by an article I read that described chemical engineering as a really flexible degree that teaches you great problem-solving skills and how to think well. It talked about a bunch of CEOs from a wide variety of industries who had all studied process or chemical engineering. What’s a favourite memory from being on campus at UNSW? I really loved my engineering degree for the fact that we all worked together. I remember friends who were studying law heading off to the library to steal a book so no one else could have it, while in engineering we were sharing around our assignments so everyone could benefit! This set me up really well for working in a collaborative business environment. What innovations in your industry are most exciting at the moment? Uber’s overall focus and mission of making transport as reliable as running water for everyone, everywhere is really exciting because it affects so many different people and businesses. There is this sort of feeling of “Uber everywhere”, and that you will be able to “ondemand” anything you want at any time. Making things accessible is a really cool way of thinking about it.
The ReCap 2017 Issue 1 | Page 18
Exclusive Interview with Kirsty McCartney Kirsty McCartney Senior Associate, Corporate Banking, Industry Analytics and Insights Bachelor of Commerce, University of Melbourne What is your background? I completed a Bachelor of Commerce at Melbourne University in 2014 majoring in Finance and Marketing, with a breadth in Law. Between my second and third years I completed an internship within Westpac’s Institutional Bank rotating throughout teams in the Corporate and Institutional Banking space. Following my internship, I was offered a Graduate position which I commenced in Feb-15. At the conclusion of the program, following some fantastic rotations I was lucky to secure a role as an analyst in Corporate Banking. What motivated you to pursue your current line of work and what aspect of it do you find most rewarding? The fast paced and sometimes challenging client engagement initially excited me, I find it rewarding when we get a deal across the line for something that is going to help our customers grow and do something new or exciting. In particular, for me this revolves around acquisition funding. The theme of this Recap is ‘New Frontiers’. Throughout the course of your career, how have you best adapted to and taken advantage of new opportunities? This has been a key driver of my career in the past 12 months, and in fact supported me for a promotion within my first 12 months. Mid 2016 we were several members down in terms of our usual analytical capability for my team, with only 4 of the usual 7 team members for about 3-4 months. During this time I put my hand up to assist on a couple of what we call ‘new to bank’ deals, which usually may not have come my way yet given I was still quite a new Associate within the team.
This allowed me to showcase my skills, assisting in winning these two deals and bring two new names into our portfolio. It also took me on a steep learning curve, progressing my knowledge far quicker than I could have envisioned. By taking advantage of the shortfall capacity in my team and adapting to take on new work, I was promoted to Senior Associate within 12 months of my role. If you could say something to your 18-year old self, what would you tell her? Join more groups in University and get as involved as possible. I made the mistake of joining a couple of groups but not really getting involved in what they do. If I had my time again I would take a position in some of the groups to get more involved, know the people a lot better and build better relationships. Especially since you will probably cross paths with these people again throughout your career.
What do you think are the biggest challenges that female professionals may face in their careers, and what is your advice for overcoming them? I I definitely think this is not as prominent as it used to be, and that my workplace is one of the best in terms supporting the equality of women. My people leader is a female and the Head of WIB is also female. I think to truly succeed we need to be strong when it comes to what we believe is right, and back ourselves 110%.
What mindset should a new university student adopt in order to ease the transition into the workforce? Be a sponge - soak up everything, talk to everyone, and always say yes to going for coffee. Not only do you want to be good at your work, but you also want to be a good person to work with.
The ReCap 2017 Issue 1 | Page 20
Capital W Calendar Semester One Events
10th March International Women’s Day Breakfast Week 3 First Year Social, Subcommittee applications open Week 8 Internship Applications Workshop Week 4 – 13 Sponsor In-house Events Early July Annual Dinner at Doltone House, Hyde Park Early August High School Workshop Please note that specific dates and times will be confirmed closer to the events. We will give notice of this in the fortnightly e-newsletter and place the details on our website and Facebook page. Sponsor events will also be held throughout the semester.
NB: An updated version of the Recruitment Calendar and Capital W Events will be available on the Capital W website in the near future. Many recruitment deadlines remain TBC and will be updated as more information is obtained.
Recruitment Calendar Bain & Company Bank of America Merrill Lynch Citi
Graduate Deadlines Open: Currently Open Close: 1 March, Wednesday TBC
Close: 6 April, Noon (Sydney & Melbourne – TBC) Open: 23 February Close: 26 March TBC
Open: 13 February (Melbourne & Sydney) TBC
Goldman Sachs Macquarie Group
Summer Internship Deadlines TBC
Close: 13 July, Noon (Melbourne) | 27 July, Noon (Sydney) Close: 13 July, Noon (Melbourne) | 27 July, Noon (Sydney) Open: 3 July Close: 6 August Close: 13 July, Noon (Melbourne) | 27 July, Noon (Sydney) Close: 13 July, Noon (Melbourne) | 27 July, Noon (Sydney) Open: 13 February (Melbourne & Sydney) Close: 31 March (Melbourne & Sydney) Open: 13 July, Noon (Melbourne) | 27 July, Noon (Sydney) Open: 18 May, Thursday Close: 13 July, Thursday (Melbourne) | 27 July, Close: 13 July, Noon (Melbourne) |27 July, Noon (Sydney) Open: February 20 Melbourne & Sydney) Close: March 19 (Melbourne & Sydney) TBC
Open: 2 March Close: 6 April, Thursday TBC
Open: 20 February
Open: Currently Open First Round Interviews: 7 April
Open: March/April 2017
Open: April 2017
Westpac Institutional Bank
Open: Monday 20 February
Special Opportunities (scholarships, programs, cadetships) Bank of America Merrill Lynch
UNSW On-Campus Presentation Date: 28 February
Women in Banking Scholarship Close: 4 May, Noon
Macquarie Capital Innovative Student Award Open: April 3, Monday Close: May 11, Thursday Uber Case Competition Registrations open: 10 April Registrations close: 23 April
The ReCap 2017 Issue 1 | Page 21
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