Currently studying at Monash Uni in Victoria! AMA!
Studying a double degree in Commerce and Science.
[AMA] I'm a University student at Monash - Ask Me Anything! [Trigger Warning - Debt]
LHardAtTwerk on 25/10/2017 - 01:27
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The science part of my double degree is purely for potential employers. Hoping it will give me an edge over other people with just a Bachelor Of Commerce. I'm majoring in finance so considering doing some analysis work for a big bank once I finish.
Are you going to get a high yielding investment vehicle?
As a finance major it should be his top priority before starting his job at a bank
BCom final year at unimelb, doing MEng in electrical next year. Can confirm the 'edge' exists, currently doing part time analyst work mostly in programming for investment software (nobody else had programming interest)
That's very reassuring to hear, cheers
Graduated from the same double degree except at Melb Uni a few years ago. It did give me an advantage when going for graduate jobs as I had more to talk about in an interview. They always wanted to know why I chose such combination.
Do you fear AI/ML & Blockchain ?
+1 here for the science side of it! There's definately an edge. Science has a different way of thinking, solving problems and finding evidence. With the same kind of experiences and resume, I'd employ you over some with comm/law or comm/international relations or comm/bus
Do you eat smashed avocados?
It's the only reason I can't afford a house
How's the HECS going? 😂
1st year, sitting at 10 grand.
Should be 40k by the time I finish my undergraduate.I was just fkn with ya ;)
[Trigger Warning - Debt]
Excuse me - where's your [Trigger Warning - humour]??
TRIGGERED!!!
lol
70k and counting get on my level
Jealous asf
Bloody hell, I'm feeling rather lucky looking at those figures -
I graduate at the end of next year from my B.Comp Sci degree, been paying as I go and will only be around $5k in the hole when it's all said and done.
@Gronk: no point since you don't pay much interest, maybe just inflation. Better of putting your money elsewhere to get returns
You must not be interested in seeing a (positive) tax return for the next 10 or so years then? :D
@Gronk: You only pay a percentage depending on the level of income, so it actually doesn't affect the overall tax that much
@Gronk: This is one of the reasons why I am really happy to do a double degree with commerce, even though I have no intention on working in the business/finance field. Before studying at university I has pretty much no understanding of money and, like you, would have thought debt is bad and should be paid off as quickly and as early as possible. The truth is that HECS debt is one of the best deals there is (this is ozbargain, after all). It is charges no interest, has no maturity, and is indexed to inflation, so has no real cost. You are much better off investing the money in some indexed fund, and paying it off as late as possible.
I wouldn't say it's bad, because we all know it's a good deal, but it still hangs over your head just like any other debt if you want to borrow a larger sum for a house or business.
Yeah, the bank wanted me to repay off my HECS while negotiating a mortgage refinance. If I pay off my HECS in a lump sum, I need to borrow more money from the bank - and repay that at a higher interest rate. The finance logic didn't work from my perspective, but it's another hurdle in the current mortgage climate.
It is charges no interest, has no maturity, and is indexed to inflation, so has no real cost.
Only if 2-3% interest is 'no interest'. Check the interest rates of HECS for last 4 years.
@virhlpool: Technically it is not interest, the amount is indexed to inflation. That means, for example, that if the RBA stuffs up and Australia goes through a period of deflation, the total HECS debt will reduce.
@BJTorMOSFET:
Hmmm. Inflation is based on a basket of goods, so all HECs debtees collectively need to do is to artificially depress the basket of goods to zero and all their debt is scrubbed back to zero. They can flood the market with free tomatoes and milk for a financial year or inflation census period, inflation becomes -100% and all HECS debt is scrubbed. With total HECs debt in the vicinity of $40 billion, it will be cheaper for students to markent dump the basket of goods :)
Are you part of any student societies etc? If so, what do you actually do in them.
As an OzBargainer I refused to pay any fees to enter any student societies.
I'm an extremely boring University student tbhdepending on how the society is ran, some can be really good and get free things all the time because of uni grants
Sounds like you did to quite widely different degrees for the perceived prestige or differentiate factor when you apply jobs.
So if getting a job or employability is important to you. The one thing I'll wholeheartedly suggest is joining as many student societies/events as possible.
Not only don't you have the opportunity and time to do this as you get older.
- You make links with more students, who in industry you will bump into again and again over years
- Your social life will improve, I can think of uni friends who have married other uni friends from different degrees, who originally met at camps, drinking at BBQs etc.
- You will meet potential employersSOURCE: I met a principal of arguable the leading firm in my field, not once but two or three times at university organised talks (public lectures), and other events.
I went for an interview for an internship a year later, he happened to be walking past the meeting room while going to the fridge, saw me and waved, and a month later I got offered the job. Busted my hump there as an intern, helped immensely in my career based on the reputation of the calibre of people working at this firm in this industry.Thanks mate I'll definitely look into it
Agree with this 100%, I regret not participating, and only doing the fun ones like movie club, games club etc
Agree with this. I graduated from BCom at Melbourne Uni majoring in finance 2 years ago. A lot of people involved in commerce students society have ties that help them slide into jobs (in my year a heap ended up at Uber once they got going in Melbourne). Everyone who wanted a leg up to get into Investment Banking was involved in FMAA - not only do the ties with the firms help but your fellow members know what they are doing to get into these industries. Also they are really fun.
FYI - I ended up working in management consulting straight after graduating. In consulting you learn general business, analysis and problem solving skills that are extremely transferable and can help you move laterally to a lot of places that would otherwise be harder to get into. It's also kinda brutal so potential employers know that you can hack hard situations. I learned a lot about myself in that time.
networking vs merit OR both? I prefer merit or both but not just networking tbh. It sucks to get into a job just because you knew someone though there were other applicants with high calibre/ credentials. Not an Australian ethic.
@virhlpool: It's both. I don't like the term networking because it has super slimy connotations. Just build good relationships with people in business and in life and it will benefit everyone. Also don't forget, employers don't just want people with credentials, you need to be able to fit into the team etc and if they know you personally then they can determine that much more easily
@hepc: Totally agree, but connection shouldn't/ can't work in lieu of caliber or credentials. People with good credentials may or may not have caliber and vice versa.
Are you Colombian?
Greek.
You seem to be a Columbian though. Did you go to Columbia uni? Just kidding, mate.. ;)
Lol, lots of Colombians get annoyed when people mistake Colombia for Columbia.
It's a proud annoyance feeling though if they know what they are talking about.
How is the rental market in Waverley area? Easy to find apartments or there is lack of supply?
In my absolute expert opinion, yeah it's fine.
Do you have any entrepreneurial aspirations for a company you'd like to start?
None what so ever
What's the sex life like?
Mostly constant
Constant no or constant yes?
Constant yes
Constantly getting f'ked by lecturers and tutors
Are fruit flies healthier than normal flies?
As a dedicated science student, I have no (profanity) clue
They both provide great protein
ohhh, so that's what my gym buddies meant that flies would give me a bigger chest.
What's the current state of electronic devices and study notes in exams? It would be really cheap and easy to network graphic calculators. You could even have your calculator run mathematica on a pi zero inside.
"All electronic devices including smart watches needs to be switched off" is what they say before the exams start. Depends on the subject, you may or may not be allowed to bring notes. honestly its easy to cheat if you want to.. most of the times, at least for my subjects, there is no time to cheat or go to the bathroom..
As long as you pay the fees? :)
I doubt many unis check the content of graphics calculators, thee adjudicators probably don't even know what they are.
I'm not sure about Monash but at UniMelb, they specify what exact calculator your allowed to bring into the exam hall (it's become more stricter recently in that you're only allowed to bring in one specific type and brand). Furthermore, all watches must be put in a plastic bag and put in the corner of your table to stop you accessing it
All calculators are pre-approved, there's a short list of "allowed" calculators and they're marked usually with an easily identifiable sticker. Our phones are usually placed under our desks in a bag usually. If it goes off we're required to pay a fine. And I'm yet to undergo a unit where personal notes are allowed to be taken into the exam, most of our 'in exam' info is in the form of formula sheets.
Nothing stopping you from removing the sticker off an 'allowed calculator' and sticking it an un-allowed one. Its what we all used to do…
Un-Australian.
Phones and wearables need to be placed on the ground in plain view or be put away in a backpack / bag, there are also threats of fines and potentially worse should your phone make any sound during the exam.
While you probably could get away with stashing a pi zero inside a graphics calculator, you could probably just invest that effort in studying and achieve the same result :D
Does it suck to be a student in this day and age, or is it coool and exciting
I never thought I would contemplate suicide so many times in one year.
Hope that answers your question
there are services on campus for that
do not be afraid to use them
Wow the unis have really changed a lot. Didnt know they provide services/ avenues for u to commit suicide these days..
Yeah, they make you put your phone and watch in a little plastic bag under the desk. If your phone goes off or you disturb the other students they give you a fine.
Was it hard to get into Monash? What was your ATAR score?
87.10. I wouldn't say hard, my score got me in pretty comfortably. Admittedly, I could of put in a lot more effort and I would of gotten into my first preference (Physio at Monash). But I'm happy where I am at the moment.
i thought commerce was in the 90s atar is or that just melb
Science and commerce are 85, combined I think they go to 87. Not 100% sure though.
Melb uni is 95+ ATAR for just commerce
@garffi: Yeah just did some research and you're right.
Double in Commerce and Science requires a 91.40 at Monash.
@HardAtTwerk: Then how did you manage to get in with 87.10? Or is it now that the average has gone up to 91.40?
@virhlpool: A 91.40 guarantees entry but you can often get in with a significantly lower ATAR. From what I've seen Monash is quite lenient on this, especially if you have a SEAS application.
Nice. I am scoring less than that overall but avoiding could of and would of may give me an edge over people that make use of it ;)
Were you disappointed when you didn't get your first preference?
EDIT: Sorry I just read above you didn't actually apply to Melbourne
Yeah dude.
Initially I was very annoyed with missing out but now that it's worked out I'm happy.probably a good choice, I learned nothing from Melb uni commerce
What's your average weekly Mi Goreng consumption?
no average, it's breakfast, lunch and dinner…
So 21
Who only has 1 packet at a time though?.. Wait… Probably uni students..
As a Melbourne Uni student, I always wanted to find out how does it feel to be 2nd best? Maybe you can finally enlighten me. ;)
At least our uni doesn't have one of the lowest job outcomes :)
http://www.news.com.au/finance/work/careers/new-data-reveals…Uni of Melbourne is technically "Highest ranked but also has a course in Eurovision" status.
I get very defensive when it comes to this subject ahahha.
But in all seriousness, there were many factors that went into my choice of uni (commute time, course structure) and I can say that I'm quite complacent in being second best.I can only give anecdotal evidence on this point.
My ex and I both did comm/law at Monash and Melbourne respectively.
Consequently I was at Monash a lot, and in many ways thought it was a better uni.
But at least for law, I certainly got the impression that there was a big difference in peoples' perception when telling people you did law at Melbourne compared to Monash.
Also my boss kept saying he hired me because I was a Melb uni grad even though I am a d1ckhead.Why did you think Monash was better? I chose Monash, even though I got into Melbourne, and I regretted that decision. Melbourne is better funded, with better quality lecturers and tutors.
Do you have many people questioning the value they get from their Uni degree(s) these days?
i.e. $40k debt vs entering the workforce straight away?
Or is Uni still seen as a way to delay the workforce and still be productive.
Where I live, the socioeconomic status isn't very high. Most people from my high school either dropped out or are already doing full time work. I think that it is kind of expected that if you get a score high enough to go to uni, that you'll actually do it. I don't know a single person who is deemed "smart" enough to go to uni that choose not to.
I like your explanation. It's a common and logical trend vs checking actual ROI, to be honest.
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What do you plan to do in the future with a degree in two very distinct fields?