Tag Archives: graduates

What a University Graduate needs to know about Money

Bookkeeping Course

When students graduate from university and embark on their careers and join the working world, there are a few things they need to take into account. Here are some pointers for students to take note and remember once you start their careers and begin to earn money.

  • Figure out how much you will need up front to move and start your life.
  • Know what your take-home pay is–it’s not as much as you think.
  • Be realistic about your expenses and essentials.
  • Understand cash flow.
  • Keep an emergency account.
  • Know when to use a debit card or credit card.
  • Get renter’s insurance.
  • Begin contributing immediately to a 401(k) plan or an IRA account.
  • Don’t be afraid to invest.

 

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Recent survey highlights skills shortage in finance sector

You will find there’s a escalating scarcity of skills in the financial-services marketplace, a survey released in Johannesburg last Tuesday .

“Seventy-nine percent of companies had limited success in hiring chartered accountants and additionally 80% had difficulty retaining scarce skills,” said Landelahni CEO Sandra Burmeister of the collected information from the Landelahni Recruitment Group’s Financial Services Survey 2010.

Eighty-two percent of auditing firms believe there is simply a scarcity of chartered accountants.

The feedback survey took into consideration the banking, financial-services along with insurance companies, in particular at graduates together with post-graduates.

Making use of Statistics South Africa and Seta data, it projected the fact that the availablility of employees within the financial industry in 2010 is approximately 270 000 — which is 3,3% of overall employment.

This figure decreased from 300 000 in June 2008.

Burmeister said it it was worrisome although the volume of students enrolling in accounting training courses at educational institutions had improved significantly, this was certainly not converting into the number actually graduating.

“In between 1999 and 2009, the total volume of university enrolments within the accounting sector was 504 068, against 60 114 degreed graduate students over the same period — a dismal 11,9% pass rate.”

At the same time, Technikons were not faring that much better.

“Technikon enrolments in accounting numbered 204 215 over the same 10-year period against 31 034 diploma graduates — a 15,2% pass rate.”

Given the increased complexity of regulatory compliance and corporate governance, accountants are more in demand than ever.

Couple this with the fact that scarcity is a worldwide issue, meaning local South African skills would likely make their way to foreign countries, some sort of long-term solution was considered necessary, said Burmeister.

“There is actually a escalating demand and despite the slowdown throughout the economy, the trend has not been reversed,” she said.

“Due to the scarcity of qualified accountant in the marketplace we’re paying premium rates for these skills — based on this data we are going to be paying the premiums for the next two decades.”

Take a look at these Accounting Courses and Finance Courses

Source: Sapa, svtuition.org, onlinembabuzz.com, kaikoura.govt.nz, decapitecpa.com, knol.google.com, gwinnettcollege.edu

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SA aims for more graduates and artisans

Higher Education Minister Blade Nzimande has highlighted a number of government initiatives to boost the number and quality of university and college graduates and artisans in South Africa.

Briefing journalists in Cape Town on Tuesday, Nzimande said a shortage of skills remained one of the country’s biggest hurdles to economic growth and job creation.

The government’s new economic growth path, launched last week, highlights the shortage of skilled artisans, workers and professionals as a key constraint to reducing South Africa’s unemployment rate from 25 percent to 15 percent by 2020.

Higher Education Minister Blade Nzimande

Nzimande said key initiatives of his department to tackle skills included:

* A review to improve the country’s Further Education and Training (FET) colleges.
* A career guidance programme for students.
* A standards body to improve the quality of artisans.
* Improved funding for disadvantaged students.
* A new strategy for teacher training and development.

Flanked by the department’s newly appointed deputy minister, Hlengiwe Mkhize, Nzimande told journalists that he had signed off the new teacher training and development strategy, which was crafted from resolutions made at a teacher training summit in 2009.

The strategy was now available for public comment, he said, adding that increasing the quality and number of teachers was a key focus area for President Jacob Zuma.

FET colleges

Turning to South Africa’s Further Education and Training (FET) colleges, Nzimande said these had to become into colleges of choice rather than “dumping grounds” for those that could not make it into technical universities or universities.

Nzimande said a key obstacle was that a FET college qualification did not guarantee entrance into a university.

The department would also work very closely with Police Minister Nathi Mthethwa to arrest and close down unregistered, fly-by-night colleges.

“We are going to be intensifying this, because fly-by-nights are exploiting the desperate needs of the majority of our people for access to education and training, and then giving them courses that are of such low quality.”

Career guidance

He said the South African Qualifications Authority (SAQA) had set up a helpline to advise students on career guidance. The department was also in discussions with the SABC on the possibility of setting aside certain time slots on their radio stations to offer career guidance sessions.

He said he had also asked the SAQA to work more effectively with schools to publicise the National Student Financial Aid Scheme and to look at ways to assist with career guidance.

The department was reviewing the scheme, which Nzimande said would inevitably involve some recapitalisation and better ways to fund disabled students.

He said one of the reasons for the high drop-out rates was that the scheme often did not cover enough students or all the needs of students. An announcement on the review would be made later this month, he said.


Nzimande said his department was also looking at setting up a central application system, to which all students could apply, to gain entrance to any university or college.

He believed that such a system, coupled with career guidance centres, would help to see more university and college students complete their studies.

Artisans

To address the quality of artisans, the Department of Higher Education would set up the National Artisan Moderating Body.

The problem was particularly pressing, as the average age of an artisan was now 50 years old, and in little over a decade most will have retired, he said.

Student community service

Commenting on the proposal to have students complete community service before graduating, Nzimande said he expected the bulk of this review to be carried out next year.

He said that, following the resolution of the ANC’s national general council to look into the proposal, the department would study the community service in place for doctors, as well as best case practices from across the world.


“We are of the view as a department that this is very very important,” said Nzimande, who pointed out that such a system could address two kinds of problems.

While it could help to provide work experience for the some 50 000 unemployed graduates, it could also address the shortage of skills, particularly at rural municipalities, he said.

Source: BuaNews, foundation4.com, symposiumc6.com, design-flute.com, interiorsandsources.com

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Fewer South African doctors graduate

The number of doctors graduating from South African universities has dropped in recent years, despite a pressing need for more medical practitioners. A more than 6% decline in medical graduates between 2004 and 2008 – from 1,394 to 1,306 – has been blamed on lack of funds, staff shortages and poor facilities.

Another major problem is the control provincial governments have over medical schools, and deans are lobbying for the central government to play a more active role. A meeting is scheduled for 9 April in Durban where medical deans from across the country will air their grievances and follow up on issues raised at a similar meeting that took place last year.

The institutions with the biggest declines in graduates were the University of Limpopo, from 238 in 2004 to 150 in 2008, the University of the Free State from 167 to 109, and Walter Sisulu University from 119 to 103.

“It’s a bit of a circus at the moment,” said Professor Pieter Nel, programme director of health science at the University of the Free State medical school.

Nel told University World News the university generally had around 100 medical graduates a year. But in 2004, the number was much higher because of a cross-over of graduates after the school changed its programme from six to five years in 1999.

Still, the number is low, which Nel said was because of the poor state of health services in the Free State. Hospital wards and theatres had closed and training staff were in short supply. In 1999, there were around 2,000 hospital beds in the province, now there were fewer than 500.

“It’s chaotic,” he said. “The facilities they offer are terrible.”

The universities of the Free State, Limpopo and Walter Sisulu are all in provinces with acute shortages of doctors. The number of vacancies for doctors grew by 4% from 2008 to 2009 in the five provinces where comparative data were available: from 4,376 to 4,557 – with 1,815 of those vacancies in Limpopo.

“There’s been no forward thinking,” said Mike Waters, opposition Democratic Alliance’s shadow minister of health. Waters made the graduate numbers public after receiving a reply to a parliamentary question.

“The government hasn’t been actively engaging with universities to encourage them to increase the intake. So we wait for a crisis to happen,” he told University World News.

The government has proposed a three-scenario plan, from low-growth to high-growth, which involves increasing new intakes of medical students by 3% to 6% at some or all of the eight universities that offer the degree.

The low-growth plan would see an increase in graduates of only 175 (14%) from 2008 to 2020, while the high-growth scenario would achieve an increase of 800 graduates (63%).

Waters said even the projected high-growth scenario increase would be inadequate for South Africa’s needs and did not take the capacity problems at some medical schools into account.

Nel agreed. “We can’t do it with the current facilities and staff,” he said.

The Ministry of Higher Education and Training admits in its proposal that the challenges are great. Costs of employing additional academics and expanding classroom space will be high, and the increase in clinical training will burden already struggling provincial hospitals.

Waters said the private sector was ready to step in to help, and had offered to train doctors and provide the technology and infrastructure so sorely needed. But this possibility was not mentioned in the government’s three-scenario plan.

Some universities are faring better than others. The University of KwaZulu-Natal had the biggest jump in doctors qualifying, from 178 in 2004 to 224 in 2008, and the University of Pretoria increased from 180 to 200.

Some universities, such as KwaZulu-Natal, have maintained consistently high success rates despite similar funding problems and educational handicaps.

“Like other universities, 50% of our intake is from previously disadvantaged backgrounds,” said Professor A Willem Sturm, Dean of the Nelson R Mandela School of Medicine. “We try to compensate for their lack of foundation as best we can.”

But the problem goes beyond higher education. Fully 17% of doctors leave South Africa once they qualify and the reasons are diverse: the poor state of the nation’s healthcare system, the soaring crime rate – and vastly more lucrative job opportunities abroad.

Taken together, the decline in doctor graduation numbers and the brain drain points to a growing health crisis.

Source: universityworldnews.com,

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