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1
ERES 2011
The value of practical work place experience in the property industry for the real estate student and graduate in South
Africa
Graeme Jay
University of the Witwatersrand
2
BACKGROUNDAND
RESEARCH PROBLEM
3
University of the Witwatersrand (WITS)
• School of Construction Economics and Management (CEM) is housed within the Faculty of Engineering and the Built Environment.
• CEM offers 3 degrees:– Quantity Surveying Studies– Construction Management Studies– Property Studies
• Property Studies is a new degree having been only introduced in 2001. The first group of graduates graduated in 2005.
• It has been noted that property studies as field of study is new in South Africa and has only been offered as a path of study in the last few years (Cloete, 2002).
4
Property Studies degree
• The number of students who have completed the property studies degree at WITS is as follows:– 2005 – 10 students– 2006 – 10 students– 2007 – 15 students– 2008 – 20 students– 2009 – 18 students– 2010 – 18 students
• There are 36 students registered in 2011 for the final year of study.
• Specialised degrees with small student numbers often face the challenge of justifying their existence to the university’s hierarchy (Baxter, 2007; Hefferan and Ross, 2010).
5
Recent challenges within CEM
• Degrees within CEM have been 4 year Honours degrees
• Degrees now need to be offered as a 3 +1 degree (Bachelors plus Honours)
• How does this affect accreditations?• The need to re-curriculate?• Some degrees with the Faculty (BArch) have
already included a practical component as a requirement to be registered as a professional architect.
6
Research problem
• One of the major roles of a university is to educate, as opposed to train, the student. Application of theoretical concepts is important for the student as well (Kickul, Griffiths and Bacq, 2010; Callanan and McCarthy, 2003).
• It has been noted by Kickul, et al (2010), that the advantages of work place experience is that students are able to achieve certain goals if given sufficient time to do so and that there is a realization of the resource constraints which organisations work with.
• Studies have shown that even community based work and outreach programmes provide students with valuable skills (Hollander, 2011; Millican and Bourner, 2011).
• Should the curriculum of the Property Studies degree at WITS be amended to include a practical work skills course or a formal internship?
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Methodology
• Two sample groups were identified:– Current 4th year Property Studies students (2011)– Students who completed their studies in 2010
• A questionnaire was developed for each group.• The questionnaire for the student group was administered
in class and 35 out 36 responses were received.• The questionnaire for the graduate group was emailed to
the group and 13 out 17 responses were received. One graduate could not be located.
• Questionnaires were analysed and responses from each sample group compared.
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Asset
Man
agem
ent
Brokin
g
Const
ruct
ion
Develo
pmen
t
Financ
e
Leas
ing
Inve
stm
ent
Mar
ketin
g
Portfo
lio M
anag
emen
t
Projec
t Man
agem
ent
Prope
rty A
nalys
t
Prope
rty M
anag
emen
t
Prope
rty V
aluat
ion
Real E
stat
e
Resea
rch
Retail
Man
agem
ent
0
20
40
60
80
100
69
6
80
49
0
46
11 11
63
37
1714
0
6
77
0 0
69
46
15
38
0 0
15 15 15 15
0
23
0
Areas of property industry most appealing to be employed in
Students
Graduates
% o
f re
spo
nd
ents
9
Brokin
g
Const
ruct
ion
Facilit
ies M
anag
emen
t
Mar
ketin
g
Prope
rty a
dmin
Financ
e
Leas
ing Law
Prope
rty M
anag
emen
t
Prope
rty V
aluat
ion
Quant
ity S
urve
yor
Real E
stat
e Age
nt0
20
40
60
80
100
911 11
6 6
11
36
14
46
9
63
54
0
15
0
23
8
15
23
46
31
0
15
Areas of property industry least appealing to be employed in
Students
Graduates
% o
f s
tud
en
ts
10Yes No
0
20
40
60
80
100
Students
Graduates
23
77
67
33
Contractual commitment to work for sponsor/bursar
Students
Graduates
% o
f st
ud
ents
11Yes No0
20
40
60
80
100
Students
Graduates
18
82
0
100
Sponsored student not having to work contractual commitment
Students
Graduates
% o
f st
ud
ents
12Strongly disagree Disagree Neutral Agree Strongly Agree0
20
40
60
80
100
30 0
20
77
8 8
0
23
62
Practical work skills should be included in the Property Studies degree
Students
Graduates
% o
f st
ud
ents
13Strongly disagree Disagree Neutral Agree Strongly Agree
0
20
40
60
80
100
3 3
17
31
46
15
8
0
46
31
Practical work skills should be a credit bearing course
Students
Graduates
% o
f st
ud
ents
14Strongly disagree Disagree Neutral Agree Strongly Agree0
20
40
60
80
100
3
9
17
40
31
0
8
23
31 31
Internship required in addition to practical work skills
Students
Graduates
% o
f st
ud
ents
15
Not in Favour 3 Months 6 Months 9 Months 12 Months 24 Months0
20
40
60
80
100
6 6
28
9
51
00
23
38
15 15
0
Duration of Internship
Students
Graduates
% o
f st
ud
ents
16
Unpaid R1000-R3000 R3000-R5000 R5000-R7000 R7000 + Whatever they get0
20
40
60
80
100
3
11
23
29
20
14
0
25 25
17 17 17
Salary during internship
Students
Graduates
% o
f st
ud
ents
17
Advantages and disadvantages of a formal internship for the intern
(student perspective)
Advantages of a formal internship
Disadvantages of a formal internship
Practical experience (26) Exposure to property
industry (20) Helps one to decide
which field to enter into (7)
Job opportunities and networking(6)
Student may not complete their degree (13)
Time consuming (5) Difficult to find an
internship (4) Low pay (3)
18
Advantages and disadvantages of a formal internship for the employer
(student perspective)
Advantages of a formal internship for employer
Disadvantages of a formal internship for employer
Be able to employ graduates with some experience (13)
Interns could become assets to the organisation (7)
Fresh ideas from interns (7) Cheap labour (6)
Interns are inexperienced (8) Costly to train interns (8) Lazy students (2)
19Yes No0
20
40
60
80
100
40
60
77
23
Students working while studying
Students
Graduates
% o
f st
ud
ents
20
Advantages and disadvantages of a formal internship for the intern
(graduate perspective)Advantages of a formal internship
Disadvantages of a formal internship
Work experience, more valuable than book learning (8)
Assists with direction of career (7)
Can show worked as a team and managed a project (7)
May be difficult to get internship (7)
Extending the course by an extra year may discourage students from taking the course, or to not go back to finish after internship (7)
Risky to give intern responsibilities when under little supervision (6)
May wish to change course after internship (6)
21
Advantages and disadvantages of a formal internship for the employer
(graduate perspective)
Advantages of a formal internship for employer
Disadvantages of a formal internship for employer
Cheap labour (8) Young motivated and
enthusiastic employees (7) Staff recruitment Employers can meet and
assess future graduates, without having to commit to permanent work (7)
Corporate social responsibility (6)
Resources, time and money spent (6)
Chaos if programme not run correctly (6)
Existing employees would have to sacrifice time and productivity to train interns (5)
Student can leave after internship, employer has then trained student for another company (5)
22Yes No
0
20
40
60
80
100
7
93
30
70
Working as a student due to contractual commitment
Students
Graduates
% o
f st
ud
ents
23
Less than R500 pm
R500-R1000 R1000-R2000 R2000-R3000 R3000-R4000 R4000-R5000 R5000+0
20
40
60
80
100
14
21
29
7 7 7
1413
0
24 24
13 13 13
Earnings while studying
Students
Graduates
% o
f st
ud
ents
24Yes No
0
20
40
60
80
100
86
14
89
11
Work advantageous when seeking employment
Students
Graduates
% o
f st
ud
ents
25
Importance of working whilst studying
• Two dominant themes, regardless whether the work was property related or not:– People’s skills– Appreciation for the value of money
26
Where to from here?
• This study suggests that both current students and recent graduates are in favour of both a practical work skills component be included in the curriculum as well as a formal internship. A practical work skills component may be more suitable and easier to manage.
• Comparative study with other universities to determine what other models are being used.
• Students who graduated between 2005 and 2009 to be surveyed to increase the sample size.
• Employers to be surveyed and their commitment needs to be obtained.
27
Thank You
• Questions?• Comments?• Suggestions?
To contact Graeme Jay
