AUSTRALIA 40% INCREASE IN FOREIGN STUDENTS TO STUDY ACCOUNTING BUT - TopicsExpress



          

AUSTRALIA 40% INCREASE IN FOREIGN STUDENTS TO STUDY ACCOUNTING BUT LOCAL STUDENTS DROPPED BY 8% DESPITE HIGH FEES AND LITTLE JOBS BUT ONLY BENEFITS STUDENTS ENJOY THAT CAN OBTAIN 485 VISA AFTER COMPLETION CAN STAY FOR 18 MONTHS WITH PATH WAY TO MIGRATION A 40 per cent jump in new overseas postgraduate accounting students in 2013 was the sole driving force in the critical tertiary accounting education market, as local students continued to shun the field. International students now ­dominate accounting courses, making up a record 79 per cent of the 17,600 enrolled postgraduate students in 2013, according to data from the federal Department of Education. At the undergraduate level, ­international accounting students made up about 55 per cent of the more than 25,400 enrolled students, a ­percentage that is down from a peak of 64 per cent in 2011. These fee-paying overseas accounting students, lured to Australia by the promise of a ­high-quality education and a potential pathway to migration, bring in ­significant and much needed revenue to cash-strapped universities. In 2013, overseas accounting ­students made up the second-largest group of enrolled international ­students at both the undergraduate and post-graduate level, behind only business and management en­rollees. In the same year, the number of new local post-graduate accounting ­students fell more than 8 per cent to 1500. The data was more dire at the undergraduate level, with the number of new undergraduate domestic and international accounting student falling for a fourth consecutive year. This massive cohort of new international accounting students will face a difficult jobs market if they choose to find work in Australia after graduation. Accounting is on the Skilled ­Occupation List, a list of in-demand occupations, meaning international graduates can obtain a 485 Temporary Graduate Visa and work in Australia for up to 18 months. The Australian Financial Review has reported on the challenges ­international accounting graduates face finding an accounting job, with employers reluctant to hire ­foreigners without ­permanent residency. The situation is little better for local accounting graduates. Don Rankin, the executive director at mid-market firm Pitcher Partners, said the firm received almost 2000 applications for 85 graduate positions this year, the equivalent to 23 applicants for every job. Almost one in four bachelor-degree domestic accounting graduates are still looking for work four months after graduation, the highest unemployment level since 1992, according to Graduate Careers Australia figures.
Posted on: Mon, 10 Nov 2014 04:05:21 +0000

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