Cooperative Education Program (Co-op)

Cooperative Education Program (Co-op)

Cooperative Education Program (Co-op)

Become an in-demand accounting or actuarial professional and gain practical skills while completing your university degree.

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As a Co-op student, you’ll undertake three placements of three to six months each, over the course of the four-year combined degree. This unique practical experience means you’ll develop in-demand skills such as communication, creativity, ethical practice and entrepreneurial expertise. Your learning will be further enhanced via classroom-based reflective tasks designed to prepare you for the real-world workplace. These competitive combined courses attract high-achieving students with leadership potential, who can demonstrate a genuine interest in the accounting or actuarial professions.

Program features

  • Three work placements totalling 15 months
  • Receive financial support from Co-op partners
  • Explore a range of career options during placements
  • Mentoring and training designed to improve your employability outcomes
  • Combined courses co-created with industry to prepare you for the future of work

Our Actuarial Co-op partners include:

TALEYFinity

NDISPWCZurich

Our Accounting Co-op partners include:

3MBerryEcholabMazars

Earnst and YoungLeadenhallPKFMetcash

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Catherine Buryak, Co-op student

Bachelor of Actuarial Studies with the degree of Bachelor of Professional Practice

"I now have the invaluable opportunity to have a work-integrated study pattern allowing me to learn about actuarial roles and gain priceless field experience."

Catherine Buryak, Co-op student

Bachelor of Actuarial Studies with the degree of Bachelor of Professional Practice

"I now have the invaluable opportunity to have a work-integrated study pattern allowing me to learn about actuarial roles and gain priceless field experience."

WHY ACTUARIAL STUDIES AT MACQUARIE?

Reputation

Recognised as a world leader in actuarial education and the longest-running actuarial degree in Australia

Accreditation

The course has been accredited by the Actuaries Institute since 1969 – the first in the world to be professionally accredited. As part of the course, you may be able to complete part, or all, of Parts I and II of the Actuaries Institute’s professional requirements.

Centre of Actuarial Excellence

Macquarie is designated as a Centre of Actuarial Excellence by the US-based Society of Actuaries.

Graduate advantage

Our graduates pursue careers with organisations such as Macquarie Group, Ernst & Young, JP Morgan, Quantium, Finity Consulting, TAL, NDIS, PwC and Zurich Insurance.

WHY ACCOUNTING AT MACQUARIE?

Industry connections

Our degrees are co-created with industry and will prepare you for the future of work. Students build business acumen and embrace emerging technologies to increase their employability and develop professional networks across a number of settings.

CPA Exam pass rate

Our graduates have the highest rate of success in CPA Australia exams in the country. Our degrees are designed to give students the skills they need as a professional accountant in the global accounting environment.

World rankings

Macquarie is ranked among the top 100 institutions in the world for accounting and finance (QS World University Rankings by Subject 2018). We’re also ranked above the national average for full-time graduate employment (QILT, 2018)

Professional accreditation

Our degrees are recognized as an approved tertiary institution for membership for the following organisations: CPA Australia, Association of Chartered Accountants Australia and New Zealand (CAANZ), Association of Chartered Accountants (ACCA), Chartered Institute of Management Accountants (CIMA) and the Instituter of Public Accountants (IPA

Who you are

Applicants for either course must be:

  • completing or have completed the HSC (or equivalent)
  • active in school and/or community activities
  • able to demonstrate exceptional communication, teamwork, problem solving, innovation, service and leadership skills
  • an Australian/New Zealand citizen or permanent visa holder

Bachelor of Actuarial Studies with Professional Practice (Honours) applicants must also:

  • show genuine interest and motivation to enter the actuarial profession
  • be expecting or have achieved Band 4 for HSC Mathematics Extension 2, or equivalent
  • be expecting or have achieved a minimum selection rank of 98.5, which includes a maximum of 5 Educational Access Scheme adjustment points, if eligible. Students expecting a selection rank of 97.00 or above are strongly encouraged to apply. No adjustment points (except Educational Access Scheme) will be considered for this requirement.

Bachelor of Professional Accounting and Bachelor of Professional Practice applicants must also:

  • show genuine interest and motivation to enter the accounting profession
  • (desirable) have minimum selection rank of 95.00 - which includes a maximum of 5 Educational Access Scheme adjustment points, if eligible. Students expecting a selection rank of 90.00 or above are strongly encouraged to apply. No adjustment points (except Educational Access Scheme) will be considered for this course.
  • Have studied Mathematics Standard 2 (assumed knowledge) and Mathematics (Advanced) (desirable).

How to apply

1

Register online and submit a CV and answer the selection criteria

  • register online in our application system
  • submit a one page CV.
  • submit your answers to the selection criteria below:
    • what is it about Macquarie University, Co-operative Education and either the Actuarial Studies OR Accounting discipline that motivates you to apply?
    • how do you think the actuarial OR accounting profession will evolve over the next 10 years? What factors in the economic, technology and global environments will influence these changes?
    • Co-op is a demanding program and requires a high level of commitment from students. Select one of your academic or extracurricular activities, and tell us how it has prepared you to succeed in a challenging program.

Get in touch with any questions. We’re available Monday to Friday, 8:30am-5:30pm via phone, live chat, email or in person.

2

Supply Academic Reference

If you are completing your HSC (or equivalent) in 2019, your school will be asked to provide an academic reference which includes your most recent HSC (or equivalent) trial results and all your subject rankings (for example, Maths Extension 2, second out of 41 students).

Important: please allow sufficient time for your school to submit the academic reference and trial results. It is your responsibility to ensure that both parts are submitted before the application closing deadline of 5pm (AEST) on Friday 27 September 2019.

3

Submit application to Macquarie University

Submit your application to Macquarie University by 5pm (AEST), Friday 27 September 2019.

You’ll receive an email confirmation once you have submitted your application.

4

Submit application via UAC

You must also submit your application via UAC by 5pm (AEST), Friday 27 September 2019, selecting the appropriate course below as your highest eligible preference:

  • Bachelor of Actuarial Studies with Professional Practice (Honours) (300238)
  • Bachelor of  Professional Accounting and Bachelor of Professional Practice (302222)

5

Attend interview

If successful in your application to Macquarie University, you’ll be asked to attend a panel interview. Further details for shortlisted applicants are provided in step 6.

6

Check offer advice conditions

If you are successful at the panel interview, you’ll receive a conditional early offer in early December.

You’ll need to satisfy the condition/s as stated in your early offer advice from Macquarie University.

Get in touch with any questions. We’re available Monday to Friday, 8:30am-5:30pm via phone, live chat, email or in person.

Applicant shortlisting

Key dates

  • Friday, 27 September 2019: applications will be assessed after this closing date
  • Week of 11 November 2019 HSC shortlisted applicants will be contacted for an interview. IB shortlisted applicants will be contacted when their exams have finished.
  • 26-28 November 2019: shortlisted applicants attend interviews

To help you prepare for your interview, a 2 hour voluntary Interview Preparation Workshop will be held 19 November 2019 for the Bachelor of Actuarial Studies with Professional Practice (Honours) applicants; and on 20 November 2019 for the Bachelor of Professional Accounting and Bachelor of Professional Practice applicants.

If you are successful at interview, you’ll receive a conditional offer in early December, pending your final selection rank.

Selection criteria

Co-op students are selected on academic merit and assessment of their interests, qualities and skills. The selection panel will likely include representatives from the Co-op team, academics and representatives from industry.

The panel will be looking for evidence that:

  • you show a genuine interest and motivation to enter the actuarial or accounting profession
  • you are active in school and/or community activities
  • you demonstrate exceptional communication, teamwork, problem-solving, innovation, service and leadership skills.

If you are successful at interview, you’ll receive a conditional offer in early December, pending your final selection rank if you are applying for the Bachelor of Actuarial Studies with Professional Practice (Honours), and pending you final selection (or equivalent admissions rank) results if you are applying for the  Bachelor of Professional Accounting and Bachelor of Professional Practice.


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FAQs

Overview

What will you gain from the program?

You’ll develop professional skills and networks and bring your practical experience back to the classroom to further enhance your studies. This is achieved through three placements combined with on-campus preparatory and reflective practice components. You’ll graduate with practical knowledge, strong professional networks and enhanced employability in your chosen field.

Can I do a double degree with the Co-op program?

It is not possible to complete the 4-year Bachelor of Actuarial Studies with Professional Practice (Honours) as a double degree. As the Bachelor of Professional Accounting and Bachelor of Professional Practice is a double degree, it is not possible to undertake a third degree.

Can the program be undertaken part-time?

No, the program must be undertaken on a full-time basis.

If I am accepted into the program, can I defer my place?

No, you are unable to defer your place. If you decide to take a gap year you will need to reapply the following year.

Does the Bachelor of Actuarial Studies with Professional Practice (Honours) program allow me to gain exemptions from the Actuaries Institute’s professional exams?

The Bachelor of Actuarial Studies with Professional Practice (Honours) is accredited by the Actuaries Institute and allows you to complete Part I and the university components of Part II  of the Actuaries Institute’s professional requirements (subject to academic performance).

I’m studying for the International Baccalaureate Diploma Programme; can I apply for the Co-op program? 

Yes. Find out more

I’m an Australian citizen or permanent resident studying overseas or interstate; can I apply for the Co-op program? 

Yes. Your interstate or international high school qualification will be considered in the application process.

I’m an international student; can I apply for the Co-op program?

No, to be eligible for the program you must be an Australian citizen or permanent resident, New Zealand citizen or humanitarian visa holder.

I completed my HSC or equivalent prior to 2019, can I still apply for the Co-op program? 

Yes, you can apply for the Co-op program if you meet all the eligibility criteria.

Placements

How many placements will I undertake in the program? 

You will undertake three placements over the course of four years (approximately 15 months in total). One placement is completed over approximately three months; the other two are undertaken for approximately six months each.

When are the placements?

The first placement is for approximately three months at the end of first year (over the summer vacation). The second and third placements are approximately six months each, undertaken throughout third year.

Table-Cooperative-Education

Table-Cooperative-Education

*Placements are indicative timeframes only. Exact placement dates determined in negotiation with sponsor organisations.

Where will I undertake the placements?

At the premises of partner organisations. Each placement is generally undertaken at a different organisation.

What will I be doing while undertaking placements? 

Placements are carefully structured and closely supervised learning experiences that give you the opportunity to put your learning into practice in the workplace. You will undertake activities that align with the learning outcomes of the placement unit and will be expected to abide by the partner companies’ professional codes of conduct.

Can placements be undertaken part-time? 

It is expected that all placements will be undertaken on a full-time basis.

Am I covered for insurance during my placements? 

Yes, you will be covered by a combination of the University’s and the partner organisation’s insurance cover.

Will I get paid while I’m undertaking a placement?

Bachelor of Actuarial Studies with Professional Practice (Honours) students receive their scholarship ($18,200 per annum) via fortnightly installments while undertaking their vocational placements but they will not be paid by the sponsor organisation. To learn if your scholarship is tax deductible, Macquarie recommends that you seek advice based on your personal circumstances. You may wish to consult the Australian Taxation Office.

Bachelor of Professional Accounting and Bachelor of Professional Practice students will be paid directly by the partner organisations while they are undertaking their placements. Pay will be set at market rates. Market rates vary by industry and sector.

Keep in mind the value of a placement is not primarily in the short-term benefit of a scholarship or remuneration at a particular rate of pay. Some of the many additional longer-term benefits include professional experience in their field, building networks and having the opportunity to explore preferences for organisational size, structure, culture, etc.

How many Co-op places will be offered?

The number of Co-op places offered depends on the number of sponsors supporting each new cohort of Co-op students. This may vary year by year.

Can I accept other scholarships at Macquarie University while receiving this scholarship?

Generally, no, however, there are exceptions. If you have been offered more than one scholarship, contact the Coursework Scholarships and Prizes Unit on +61 (2) 9850 7337 or email csap@mq.edu.au for advice.

Get in touch with any questions. We’re available Monday to Friday, 8:30am-5:30pm via phone, live chat, email or in person.

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