Career Outcomes of Financial Planning Students

Abstract

In a competitive job market, a traditional university qualification that delivers technical knowledge, in itself, does not guarantee graduate employment (Crebert, et al. 2004). This study sought to determine which personal characteristics, skills and attributes lead to successful employment after graduating from financial planning degrees across Australian financial institutions. We find that education providers can do more to develop a number of skills, including interpersonal communication, negotiating, marketing and being a team layer, and that there may be gender differences in role preferences and pathways into a financial planning career. This study found that both students and employers are seeking more professional awareness throughout financial planning degree programs including learning outcomes regarding interpersonal communication, teamwork and leadership, analytical skills, presentation skills, enterprising skills such as developing business plans and marketing, as well as more mentoring programs and internships to develop more generic skills in graduates to help meet employers' high expectations. This study also suggests that students' work expectations could be better managed regarding entry pathway options, but also presents an optimistic outlook for existing students preparing for a career in financial planning.