Accounting internships is a highly important step for any prospective accounting university students. If you’re on the way to get practical experience before you get your big adult job in finance, accounting internships are the way to go. Sydney CBD offers the best of the best accounting internships on offer. Whether you take an experience from a small-scale to major accounting firm, you can find a placement that will give you the first steps into your finance career. Compared to American placements, accounting internships in Australia means that they are more likely to take advantage of you as a result of the increase of “unpaid internships”.
Here is all you need to know about accounting internships
Dodgy behaviour in smaller firms
Smaller scaled companies tend to work on a restricted time frame, budget, and resources. This means a lot of accounting internships from minor firms are more likely to deal with unlawful behaviour. It is appeared as more of a vocational placement therefore you are massively underpaid. In February 2019, the Fair Work Ombudsman found over 300,000 penalties received from a fashion start-up for underpaying three interns of $40,000. One of the interns worked two days a week for half a year without any pay being underpaid almost 7,000 dollars of her working hours.
The need for recognition of accounting internships as an important role
Accounting internships are just as vital as the other roles in a firm. When businesses are making their interns do work beyond their expectation, this is when it is important get Fair Work involved. Employers typically treat their intern staff as replaceable and useless, despite giving them work that is totally over their monetary value. University students on average have to finish multiple voluntary work before finding a job that pays just to get their start in the industry. These roles are incredible underpaid or unpaid, with most interns losing an average of $6,000 dollars in working wages during the timeframe of their placement. It is noted that accounting interns deserve to earn a minimum wage.
Here are aspects to consider when it comes to applying for accounting internships
The type of workload the intern is receiving
When applying for accounting internships, it is important that if you are doing work beyond your expectations this can go to the Fair Work Obudsman. If the intern is performing work that is benefiting the boss, this means an employment relationship. The main duty for an intern is to observe and learn which indicates an employment relationship or if they are undergoing through work that is naturally done by the employees this is not fair.
The type of contract given to the intern
It is important to consider whether or not the employer had given a legally binding contract, which is therefore viewed as an employment contract. This means that they are working on a contract that means they should be paid.
Length of the work experience
How long is the duration of the work experience? Any arrangement that is contracted for more than 2 days is therefore seen as employment therefore it is important to get paid for your work.
What is the length of the arrangement? Any arrangement of more than a day or two is more likely found to be employment.
It is highly important when applying for accounting internships that you get an experience that is worth your first steps into your finance career. Prospective university students to graduates, make sure to consider and do your research before you jump on board a voluntary role. A lot of smaller firms are more likely to underpay what you deserve therefore it is important to get into contact with the Fair Work Obudsman if anything persists.