chapter 3 - Bentham Science

Graduates’ Use of Technical Software Applications of Spreadsheets in Education The Amazing Power of a Simple Tool 243
that “the use of spreadsheets in the workplace is ubiquitous,” with 80% of their respondents rating
them “very important” to “essential.” Despite this broad use, only 30% of managers indicate
that they provide a basic training course, expecting “staff to learn on the job from colleagues or to
already have these skills before joining the organization” [4].
Aside from spreadsheets, Larres and Oyelere [14] suggest a number of other technical software
tools that workers in the finance sector are familiar with: these include, to varying extents, integrated
accounting packages, word processing packages, and database creation and manipulation packages.
Mohamed and Lashine [15] consider the importance of a multifaceted graduate, noting that “the use
of information technology, in particular, processing and communication information has become an
essential need. Knowledge of some accounting packages is no longer a plus; it is a must.” More
recently, Murray et al. [16] consider the following IT applications as most important for finance
graduates to possess: Microsoft Office, Internet browser, Enterprise Systems, Instant Messaging,
Windows, Project Management Software, and Modeling Software (e.g., Microsoft Visio).
Some of the literature reviewed here does not reflect the influence of technical software, including
spreadsheets, in finance in 2010. In addition, the requirements of recent graduates are rarely
investigated. In the next section we will present the results of our survey of the use of software
among graduates working in the financial services industry.
11.3 Methodology
There is a clear gap in our understanding of the use of technical software by graduates working in
financial services. The methodology chosen was an in-depth online survey of recent graduates. The
survey (see the appendix at the end of this chapter) was comprehensive and designed to ascertain
graduates’ use of various types of technical software used for financial and statistical analysis and
modeling. The Institute of Actuaries of Australia (IAAust) advertised the study to its members,
and the authors contacted industry colleagues directly to invite them to participate. Recent students
who had completed postgraduate courses run by Macquarie University for the IAAust were also
invited to participate. Most, but not all, of those contacted were members of the IAAust. Members
of the IAAust work in a wide range of jobs throughout the financial services industry, not just
in the traditional areas of life insurance and pension planning (superannuation). There were 76
respondents to the online questionnaire.
11.4 Results
11.4.1 Demographic and Work Characteristics
The demographic characteristics of the 76 respondents are shown in Table 11.1. Almost two-thirds
of respondents are male, and 90% are aged under 30. Two-thirds of the respondents have been in
the workforce for three years or less, and 95% for five years or less.