For those interested in banking/finance - some links to check out;
Daily Newsflow
http://afr.com/markets/dealbook
http://www.theaustralian.com.au/
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FAWAinsider
Competition for finance graduate and internship positions is intense. Firms are keen to snare the cream of the crop – students with excellent interpersonal skills, outstanding academic results, relevant work experience coupled with a passion and knowledge of the industry…
In the face of such competition, creating and maintaining your professional image is important. Alas, we need to face facts: as great as your ‘insides’ may be, interviewers will also be considering your ‘outsides’. How you dress can help distinguish you from other applicants who are less attentive to projecting a successful, professional image.
Research conducted by Frank Bernieri, Ph.D., a social psychologist at Oregon State University, found that lasting impressions are often reached within thirty seconds. With the fast paced world of finance, the ‘instant communication’ of your appearance increases.
What you wear makes a statement about who you are, and for that reason, interviewers will base their judgment on your character and work ethic on what they see (amongst other factors). Dressing well and appropriately shows others that you have a respect for well established customs of the industry. Moreover, it puts forward an impression of confidence and decisiveness.
In a conservative industry like finance, classic corporate attire is the most appropriate choice. When purchasing apparel for the office, the key things to look out for are fit, colour and style. Contrary to popular belief that beauty is pain, if the fit of a garment makes its wearer uncomfortable, he or she will look it. As a result, when considering a purchase, the fit should take precedence.
Intuitively, people consciously and subconsciously associate colour with feelings. For the office or job interview, it is best to opt for traditional ‘power’ colours like navy blue, charcoal grey or black. Generally, dark colours look flattering on most skin tones and body shapes. Navy blue conveys importance and affluence; whilst charcoal grey is symbolic of stability and sophistication.
Not even for the weekends…
Men’s corporate apparel is fairly straightforward – adopt classic timeless styles and ignore passing fashions. Select high quality natural fabrics such as pure wool which has great longevity, wrinkle resistance, ability to absorb moisture and is appropriate for all seasons. Avoid fabrics with a reflective quality as this often looks cheap.
Single breasted suits are a more versatile and fashionable cut, relative to the double breasted. On the other hand, a double breasted suit can project an air of elegance and refinement; but is best avoided by short, stout men. Single vents (vertical slits) in the back of the jacket are the most common on suits. However double or side vents are the most practical and appear more expensive; but heavy set men should steer clear, as it will make a larger backside much more noticeable.
With women’s corporate attire, most companies don’t have specific guidelines regarding what to wear to work. When given such freedom, opt for classic and simple garments as it will assist in creating a polished and elegant image that is work appropriate. Remember that in the corporate environment, it is more important that you look professional as opposed to being on trend.
Select structured items, such as a jacket with well defined shoulders, to project professionalism and strength of character. Pants and skirts should be fitted, but loose enough to sit comfortably. For a feminine look, work back the traditional ‘power’ colours with softer colours such as pastels and creams. Keep accessories minimal and follow the adage that, less really is more.
In the end, looking professional is in your best interests. Employers are attracted to candidates that present themselves as those who strive for excellence and have leadership potential. So, are you dressed to impress?
Kim Phan
Nibbling on pastry, I wandered through Marienplatz in Munich smiling as I picked up the familiar Aussie accent. While the tourists flock in for clothes, beer or the sights; it is a wonder whether anyone has an eye on the uncertainty that the European Union faces ahead. With stress-test results of 91 banks released on 23rd July, the world continues to watch the EU as it acts to restore confidence in its weaker nations.
And eyes are most certainly on Germany. As the Euro-zone’s strongest (and arguably the most influential) economy, its penchant for discipline may or may not shape anticipated reforms.
As the European sovereign debt crisis unfolded, commentators observed the actions and inactions of Chancellor Angela Merkel. Despite Germany’s politicians reiterating that ‘European unity’ is still very much a priority; German citizens wondered why their banks were paying for undisciplined budget deficits. This cautiousness was reflected in the multitude of conditions (including threats of sanctions) imposed on the €120 billion bailout the country recently provided to Greece. German citizens even speculated that the country would abandon its ties to the Euro currency. But despite the outcry, commentators and German corporations alike acknowledge the benefits of the euro; especially the benefits that have been flowing throughout the crisis.
As of late, Germany has benefitted from the weakening euro and its traditional competitiveness in exports. Emerging powerhouse economies, China and Brazil, have especially driven demand for German exports. While international news was burdened with the sights of workers’ protests in Greece and Spain; Germany’s unemployment rate currently sits at 7.7% - the lowest it has been in over a decade. In his 23 June address at Humboldt University, George Soros toyed with the suggestion that Germany reinstate the deutche mark; but concluded that doing so would lead the economy’s decline. He criticised that perhaps the German populace would ironically only be content when the government bails out its own national banks rather than that of Spain or Greece.
Before the release of the stress-test results, many analysts doubted its credibility. As so, on the 23rd July, only 7 out of 91 banks tested were reported to have fallen short of the 6 per cent Tier 1 capital minimum. As expected Germany initially kept its cards close to its chest stating local laws did not require its banks to fully disclose the results of the stress-test.
Yet despite the dramatic criticisms of the stress-test, markets responded well to the results. From the strengthening Euro, to the price of oil, a confidence now fills the air - suggesting that the worst of the Euro-zone crisis is over.
But as history shows, all great reforms are ushered in after a great scare. Perhaps it may well be the time for Germany to re-evaluate its role in the Eurozone. After Chancellor Merkel’s delayed response to a struggling Greece, many are hoping that this re-evaluation leads to a more politically cohesive European Union.
But for now, commentators are optimistic - at least when it comes to Germany. So, with the 100th year anniversary of Oktoberfest looming, I suggest you head to Munich to enjoy the beer that will undoubtedly continue to flow. Just remember that if your Aussie dollar did not get you as big of a Paulaner as you would have liked… perhaps it is for the best.
Wen Fen Chong
FAWA had its inaugural social event in April to celebrate the end of a very successful Semester. Over 50 of us turned up at Cambridge Bowls Club and braved the conditions for an entertaining session of extreme winter lawn bowls. Whilst many of us hadn’t tried the “sport” before, a friendly and competitive environment ensured that we all had a great time and left the event with a renewed enthusiasm for game of bowls. You might not believe it, but one of our members has since turned his back on banking to chase his dreams of joining Australia’s world cup team! Bowls team that is…
For those of you still struggling with the concept that the bowl will only lean in one direction (yes that’s you, Simon), keep practicing, you’ll get there! I’ve been talking to the boys down at the bowls club and they’re happy to offer free private sessions to save any future embarrassment.
Thanks also to everyone who took part in the tournament; whilst organization isn’t one of my strongest points, we got there in the end. I think we all agree that the girls were more than a match for the boys too, and that the winners were very deserving, whoever they were.
Once the bowling finished, those of us left moved into the club house and got stuck into a few rounds of pool, a few rounds of beer, and for those of us not driving home, a few more rounds of beer. Luckily it wasn’t all beer though; the seemingly endless tab meant that the girls had plenty of wine and Hayden had plenty of shots. I’d like to say the night didn’t get too out of control, I really would.
The success of the event was very much down to the hospitality of the bowls club and the outrageous prices they charged us, or rather didn’t charge us, for the booze. I didn’t hear any stories of food poisoning either so I’m assuming the BBQ went down well too. But the biggest thanks has to go to the members that supported us. We hope you got something out it and I’m sure we’ll see you at the next one.
Joe Walsh
