Co-op in the recession

fivetwenty

Just a couple of things;

1) Are we less likely to get placements in the current scheme of things?

2) At what rate do students normally get paid at - and are we likely to get paid at all?

I want to do mine in Ireland BTW, not fussed about going abroad. As regards my co-op - it's another year off yet.

crinkley

the rate depends on the company. I was on over 500 a week while I know some who were on 200.

I see it will be far more difficult to find a place but thats up to ul, if not go abroad because otherwise you'll be left doing link in modules

hi_im_fil

Generally the pay is around €350-€400 per week. Just above minimum wage really but enough to get by on

1huge1

Well you said its another year off for you yet so hopefully things will have vastly improved by then. I'm only going into 2nd year but I intend to go abroad for my co-op anyway.

I heard a story about the 3rd years doing civil engineering in NUIG this year and they basically had to make a new course for a couple of months because none of the students got placements and had nothing to do.

ninty9er

It depends on the course.

The Business School has seen it as easier to get placements as companies are willing to take on short term staff ahead of making long term committments.

Placement of current 3rd year Business is 100% of eligible students.

Rineanna

ninty9er wrote: »

It depends on the course.

The Business School has seen it as easier to get placements as companies are willing to take on short term staff ahead of making long term committments.

Placement of current 3rd year Business is 100% of eligible students.

Really? That's very interesting. I'm guessing that doesn't include people who secured co-op placements before Christmas and were subsequently let go by the companies?

I know of four people off the top of my head who were let go as early as January because the companies were cost cutting. And I only know a small pocket of the ~350 people in my course.

But if that figure's correct, then great; the recession didn't do as much damage to the co-op programme than the rumours that were going around. There were rumours flying around (as they do) that there were circa 40-60 students back in College doing modules instead of co-op, but obviously just trash.

fivetwenty

Do UL offer any perks for those who fail to get a placement? I'd imagine those who chose here for Co-op would be angry at having more expenditure instead of earning 15g back.

Rineanna

fivetwenty wrote: »

Do UL offer any perks for those who fail to get a placement? I'd imagine those who chose here for Co-op would be angry at having more expenditure instead of earning 15g back.

Just to clarify, what kind of perks had you in mind?

I don't believe U.L are in any way responsible for students' lost earnings.

They don't control the economy, so can't be blames if less companies are offering positions for Students. They've been pretty good, in fairness, in securing co-op placements for all students in previous years, so I don't believe they could be blamed for lack of effort. And was earning money one of the promises of the course, or any course? It very well could be, but I believe the 'experience' attained on co-op is the principal reason for the programme itself.

And, correct me if I'm wrong, but I think it's safe to assume the majority of students who fail to secure placements are students with lower relative QCAs and grades, which is generally outside the control of the University too.

That's just surmising on my part though, I've no visibility into the co-op programme other than what I've experienced myself, nor do I know what happens to students who haven't secured a post.

goth_detective

And, correct me if I'm wrong, but I think it's safe to assume the majority of students who fail to secure placements are students with lower relative QCAs and grades, which is generally outside the control of the University too.

This isn't the case at all from my perspective anyway.Like alot of other people last year i was supposed to get a co-op placement,I have all As in all my modules thus far(im going into 3rd year). Most people in my course of which there is only 12 of us and ALOT of others didn't get a placement last year.There just isnt enough companies in these recessionary times willing to take on students which makes it alot harder for us to get placements.Last year was the highest I was informed, year of students not getting jobs.If you dont get one dont fret about it as theres an alternative programme. There are plenty of opportunities of placements abroad in places such as Argentina and China and also Ghana so keep this in mind.

Just my 2 cents.....

Rineanna

goth_detective wrote: »

This isn't the case at all from my perspective anyway.Like alot of other people last year i was supposed to get a co-op placement,I have all As in all my modules thus far(im going into 3rd year). Most people in my course of which there is only 12 of us and ALOT of others didn't get a placement last year.There just isnt enough companies in these recessionary times willing to take on students which makes it alot harder for us to get placements.Last year was the highest I was informed, year of students not getting jobs.If you dont get one dont fret about it as theres an alternative programme. There are plenty of opportunities of placements abroad in places such as Argentina and China and also Ghana so keep this in mind.

Just my 2 cents.....

Point taken. I was a bit rash in hindsight, as you're just after reminding me of a friend who, like you, had good results and failed to secure a placement solely because there were little/no jobs going in that particular industry.

ninty9er

I think that's excluding those left go since beginning. But some were placed VERY late and some even after the official start date for co-ops.

That's only according to what I've been told.

JoseJones

Does anyone know what you have to do if they don't find a placement for you? I was supposed to start in may but haven't got anywhere....I'm doing engineering btw....

Rineanna

JoseJones wrote: »

Does anyone know what you have to do if they don't find a placement for you? I was supposed to start in may but haven't got anywhere....I'm doing engineering btw....

Unless the co-op office have told you specifically to do something, I don't believe there's much you can do. I know if the placement falls during term time, they sometime create modules/projects to complete in lieu of the placement itself. If I'm not mistaken, your placement runs up until next January? If it does, and there's still no joy in the jobs market over the next couple of weeks, I'd ring the co-op office before term starts to see if they've any replacement modules planned for engineering students.

FireFly09

Just wondering what the pay would be like in say KPMG or PWC in Dublin for Co-Op students?

Would it be hard to get into said places without previous experience but a 3.3 QCA? (I know there's an interview involved too)

Cheers

JoseJones

Rineanna wrote: »

Unless the co-op office have told you specifically to do something, I don't believe there's much you can do. I know if the placement falls during term time, they sometime create modules/projects to complete in lieu of the placement itself. If I'm not mistaken, your placement runs up until next January? If it does, and there's still no joy in the jobs market over the next couple of weeks, I'd ring the co-op office before term starts to see if they've any replacement modules planned for engineering students.

Yeah, I emailed them and they told me I had to meet someone the first week of September if I am still unplaced.

I just wanted to know if it happened to anyone before and how many modules etc. did they have to do....

The first week in September is a bit late to be organising somewhere to live etc.
You're right btw, my coop runs until January.

Rineanna

FireFly09 wrote: »

Just wondering what the pay would be like in say KPMG or PWC in Dublin for Co-Op students?

Would it be hard to get into said places without previous experience but a 3.3 QCA? (I know there's an interview involved too)

Cheers

The pay tends to be higher in Dublin than the rest of the country, for obvious reasons. Now, these accounting places are a law upon themselves. I have friends working in two of the 'Big 5' accounting firms, and, believe it or believe it not, they're getting paid less than minimum wage because they're technically on a training contract and the company's only obliged to pay an 'allowance'. Granted this is in Limerick. I have friends in Dublinwho are mostly on over €400 a week, I think. Me, and a good few people I know outside of Dublin, are on < €400. Depends on the company.

The people I know in accounting firms in Dublin didn't have any previous accounting experience, so the interview is the key. If you're going into auditing, be prepared to be travelling. I couldn't get over how many people I know on co-op who are gettinig to travel around auditing companies, getting put up in hotels, etc. They tell me the novelty wears off, but that's hard to comprehend when you don't get to travel at all! :P

rmacm

Rineanna wrote: »

They tell me the novelty wears off, but that's hard to comprehend when you don't get to travel at all! :P

Not an accountant but myself and kaimera do quite a bit of travel and the novelty does indeed wear off....granted it hasn't for me yet but I'm a glutton for punishment :P

The whole living out of a suitcase thing gets annoying after a while, after my last trip I didn't even bother unpacking fully two weeks in a gaf I'd just moved into and then away for 4 months.

At least there's cheap beer and smokes here

ninty9er

FireFly09 wrote: »

Just wondering what the pay would be like in say KPMG or PWC in Dublin for Co-Op students?

Would it be hard to get into said places without previous experience but a 3.3 QCA? (I know there's an interview involved too)

Cheers

I was on €1200 a month plus flat rate expenses when I was on co-op. I think the lads in the same company in Dublin were on about €1600, but rent is a bollix in Dublin.

If you don't have a car and full licence you will be at a disadvantage for auditing positions. If you plan on buying a car before co-op, buy a decent one, as a Micra or Corsa just won't cut it when you're going to all 4 corners of the country, down every backroad in the land.

QCA tends to be irrelevant. They look at your grades in accounting subjects, but they're more interested in your work ethic than your grades. They could easily overlook someone with a 4.0 QCA for someone witha 2.2 QCA who's been working 20 hours a week since they were 16, and to be honest, if I was hiring, I'd do the same myself.

FireFly09

So what type of positions are there in KPMG/PWC etc ? Is it either accounting or auditing? Is there a difference in the pay/ work difficulty?

I'm doing Law and Acc and have full license and a decent car so I'd be grand with travel and such for Auditing positions.

I've gotten an A2 and B1 in my accounting modules for first year so hopefully I can keep that up for next year!!

I know it's a long way off as I'm only goin into second year now but I kinda want to find out as much as I can.

Thanks for all the info

ninty9er

FireFly09 wrote: »

So what type of positions are there in KPMG/PWC etc ? Is it either accounting or auditing? Is there a difference in the pay/ work difficulty?

I'm doing Law and Acc and have full license and a decent car so I'd be grand with travel and such for Auditing positions.

I've gotten an A2 and B1 in my accounting modules for first year so hopefully I can keep that up for next year!!

I know it's a long way off as I'm only goin into second year now but I kinda want to find out as much as I can.

Thanks for all the info

It'll be either tax/auditing/corporate restructuring with these companies.

LACCYs are more likely to get tax than Business students, but tax doesn't involve much work out of the office. I know from talking to people in my course that I got a way better co-op in BDO than they did on PWC or KPMG as the larger firms have plenty of juniors to do what I was doing. There would be more filing and mundane work involved in the bigger firms, with more responsibility and closer working with the partners and managers in the medium/smaller ones.