What WAM should I aim for?

[Greatness]

Let's change the question:
"If I want to get a generic competitive job, what should I do?" Because this seems to be the real question.

Well in what industry? It would vary between law, accounting, finance, engineering etc
From most internship applications I've seen from mainly accounting firms and banks (big 4) a 65/credit minimum is required for application. However, I've heard of students with much lower WAMs who have failed units and are still able to get an internship.

However, the deal breaker is ultimately you, the applicant. If you don't fit the firm's culture and the partners/HR/recruiters don't think you're a viable fit for the work place then you won't get the job regardless of your credentials. [Cheers OB I learnt and remembered something ]

[TrueTears]

Put it very simply: For top end finance jobs, if you have a high GPA that will count, the higher the better, work experience/extra-curricular activities is less important than the GPA when it comes to screening for interviews.

However, if you don't have an extremely high GPA, then you better have an abundant amount of work experience and other factors to make up for that lack of GPA, especially for the top end jobs at the top firms.

EDIT: Not only will the GPA matter, but in extremely competitive areas like equities/fixed income, screeners will especially look for 'science' units, ie, quantitative/analytical units on your transcript, with that being said, more and more physicists, mathematicians, engineers nowadays are getting the positions for the top quant fi jobs. A 'typical' Bcomm student with 'typical' Bcomm course progression is unlikely to get a top quant jobs unless you have an amazing academic transcript.

[ggxoxo]

Put it very simply: For top end finance jobs, if you have a high GPA that will count, the higher the better, work experience/extra-curricular activities is less important than the GPA when it comes to screening for interviews.

However, if you don't have an extremely high GPA, then you better have an abundant amount of work experience and other factors to make up for that lack of GPA, especially for the top end jobs at the top firms.

Hi TT, what's a "high" GPA? Would it be like 3.8+?

[TrueTears]

^ Depends on what area you apply for, what kind of units you have on your transcript and the type of firm - alot of variable factors which can't be generalised under one statement. I'll give two contrasting examples.

For example, a friend of mine who has a not so great transcript, but wants to work in M&A has 1) Very high scores (dux) in selective units such Investments/M&A 2) Alot (and I mean literally alot) of work experience in the M&A sector in various firms, both domestic and foreign. 3) Currently doing his honours thesis on M&A too. With those combined you don't necessarily need to have an insane GPA to get the position.

Another example is myself, I literally have no real working experience at 'firms' (apart from being a teaching associate at Monash), however because I have the academic results to back it up, the relevant units and awards etc, I've been offered interviews for GS, UBS, JPM for quant fi positions (equities/ficc). I've also been personally approached by the CEO of PwC (Luke Sayers) for their quant risk analyst positions.

But remember, the academic factor is only really for you to get that elusive interview, once you get the interview, almost all 'academic' knowledge is thrown out the window. You need to be very up-to-date regarding relevant market events, firm positions and what's happening around all financial sectors, without good practical knowledge, you will not pass the interview.

[pi]

I've also been personally approached by the CEO of PwC (Luke Sayers) for their quant risk analyst positions.

Dear TT,

We Knew you were a God, but now we know you are actually Zeus. That is f*cking beast!

Regards,
AN

[Yeezus]

Dear TT,

We Knew you were a God, but now we know you are actually Zeus. That is f*cking beast!

Regards,
AN

+1

TT, why didn't you take up this position?

[TrueTears]

There's a few reasons, the main reason is because my passion lies within academia and research, I don't want to give that up even if I am offered extremely good positions (in the Australian context). Even if I do decide to go into the industry, the Australian market is really too small for any real quant fi jobs, all the top end quant fi jobs are in the US and to even be considered for them, you need to have at least a PhD (physics, maths, engineering, mathematical finance, computer science etc), so after my PhD I may go into the US job market and see if I like it, if not I'll return to academia.

[Planck's constant]

Dear TT,

We Knew you were a God, but now we know you are actually Zeus. That is f*cking beast!

Regards,
AN

Managing partner of PwC : 'TT, I would like you to come and work for me'
TT: 'Maybe, but you have to go to Ballarat first'
Managing Partner of PwC : 'Ballarat ? Why ?'
TT : 'Thats where the end of the queue is'

[TheMirrorMan]

Does anyone know if the WAM required for smaller and mid tier accounting firms is lower than the Big Four?

[Fyrefly]

Does anyone know if the WAM required for smaller and mid tier accounting firms is lower than the Big Four?

Well yeah, it would be. Most people want to work at a Big4, so there's less competition for the small and mid-tier firms.