What it does: Provides economic advice to the Federal Government
Staff stats: Around 800
The good bits: Helping steer the national economy
The not so good bits: Long hours preparing the May Budget
The Department of the Treasury
The Department of the Treasury (or Treasury) is the Australian Government Department responsible for economic policy, fiscal policy, market regulation, and the Australian federal budget. Formed at the Federation of Australia, Treasury is one of the oldest continuous departments of the Australian Government. As a central policy agency, the Treasury is expected to anticipate and analyse policy issues with a whole-of-economy perspective, understand government and stakeholder circumstances, and respond rapidly to changing events and directions.
Treasury provides sound economic analysis and authoritative policy advice on issues such as: the economy, budget, taxation, financial sector, foreign investment, structural policy, superannuation, small business, housing affordability and international economic policy. The Treasury also works with State and Territory governments on key policy areas, as well as managing federal financial relations
The Department is overseen by the Secretary of the Department of Treasury, who reports to the Treasurer of Australia, the Minister for Revenue and Financial Services and the Minister for Small Business.
Treasury is committed to the principles of workplace equity and diversity and selection for vacancies is made on merit. As such, the people at Treasury are intelligent hard-working individuals with a passion for policy development and a drive to make a positive contribution to raising the living standards of all Australians.
At Treasury, you’ll be playing a key role in ensuring Australia continues to be a prosperous and cohesive first-world nation. In terms of diversity, Treasury participates in a wide range of initiatives to support and advance diversity issues. Treasury supports the White Ribbon campaign, which aims to stop violence against women. To further the goal of increasing Indigenous representation, Treasury participates in the Australian Government Indigenous Graduate Recruitment Program and the Indigenous Australian Government Development Program. The Department’s Disability Action Plan 2014-2018 aims to ensure disability employment networks are used to recruit new staff, recruitment processes are merit-based and job advertisements explicitly encourage people with disabilities to apply. Under the Progressing Women initiative, the Department has adopted strategies to develop a flexible work environment free of unconscious bias where all staff feel equally valued and capable of fulfilling their potential.
The recruitment process
Treasury employs graduates from a broad range of disciplines, as long as they have at least a credit average. It is particularly interested in those with degrees in economics, law, commerce, finance, public policy, political science and mathematics. It looks for tomorrow’s capable and professional leaders to drive policy development and make a positive contribution to raising the living standards of all Australians. Candidates also need to have Australian citizenship, be able to pass a security check and be willing to move to Canberra.
The recruitment process starts with an online application. This has to include your resume, academic transcripts and a statement of up to 750 words explaining why you want to work at Treasury and what skills you bring to the table. While it’s not an official part of the selection process, those who are shortlisted on the basis of their application have the opportunity to meet with senior Treasury officers to find out more about what a career at Treasury involves. The next stage is a face-to-face interview. These are conducted in June and July in all major capital cities. For those unavailable to attend in person, a telephone or video interview can be arranged. If your interview goes well and there are no issues with your referee checks you can expect a letter of offer to arrive from July onwards.
Treasury’s Graduate Program includes on-the-job learning, interactive policy analysis and technical skill development from subject matter experts. While undertaking the program, you may find yourself: preparing advice for the Treasurer; developing policy; drafting Ministerial correspondence or helping put together the Federal Budget.
Graduates commence at the APS3.2 level, which has $63,259 base salary with 15.4 per cent superannuation. Graduates have the opportunity to progress to the APS4 and APS5 level dependent on performance. Treasury staff also benefit from generous leave entitlements, flexible working arrangements, study assistance, access to health and wellbeing programs and onsite childcare.
Graduates are paired with a buddy and have access to mentors who support their career development. After completing the graduate program, you’ll continue to have the opportunity to undertake the ongoing training and development needed to progress in your career. There are a range of in-house courses focusing on areas such as management, writing, presentation, policy and communication. The department also supports those undertaking further external study.
Treasury aims to teach graduates to broaden their thinking, meticulously analyse, openly question, creatively conceptualise and deliver policy advice. Possibly because of that training, many of those who’ve completed Treasury’s Graduate Program have gone on to illustrious careers in both the public and private sector.
The vibe of the place
Treasury staff work in the engine room of the national economy. They are offered a stimulating, varied and challenging environment with the chance to contribute substantially to Australian Government policy. If that sounds like an exciting prospect to you, you should feel right at home working there.
From the Employer:
"The Treasury Graduate Program offers recent university graduates the opportunity to join Australia’s leading economic policy adviser. Our program offers comprehensive training, development and mentorship from skilled professionals, who will work with you to develop your skills, knowledge and confidence. We draw upon a diverse range of expertise and perspectives, using a wide range of information and cutting-edge analysis.
"At Treasury, we work on public policy issues that govern just about every aspect of economic activity in Australia and that affect all Australians – the work we do is everywhere and it matters. Treasury people are known for their ideas and have the opportunity to work on policy issues right from broad concepts through to detailed legislation and implementation. We are constantly seeking new perspectives and expertise – and our graduates are an important source of fresh ideas." John A. Fraser, Secretary to the Treasury
The Treasury is best known for producing the Australian Government’s annual budget, but we do much more than that. We cover the waterfront – everything from working with the states and territories on significant public policy matters; to forming a view about the global and domestic economic conditions; and shaping the tax, superannuation and financial systems that are fundamental to how our economy functions.
We’re looking for tomorrow’s capable and professional leaders to drive policy development and make a positive contribution to raising the living standards of all Australians.
Our commitment is to enrich you professionally and prepare you for a successful public or private sector career."