Q & A

Q: I'm interested in training to become a nurse. I'm especially interested in mental handicap nursing. Where and when should I apply? What qualification will I get?

- Sligo student

A: You can apply for the three-year nursing registration/diploma programme in mental handicap by sending a stamped addressed envelope to the National Application Centre (Mental Handicap), PO Box 3017, Dublin 15, by the closing date of Friday, May 15th, 1998.

This programme will help you to acquire the academic knowledge, clinical skills and attitudes leading to qualification as a nurse in mental handicap with An Bord Altranais and also to the award of a diploma from a linked third-level institution. The course starts this September in eight locations - Cregg House, Sligo; Drumcar, Louth; Moore Abbey, Kildare; the Cope Foundation, Cork; Lisnagry, Limerick; and, in Dublin, at Clonsilla, Portrane and Stewarts.

Entry requirements are Irish, English, a laboratory science subject, maths, one other language, and one other subject to include two higher Cs and a minimum of four passes at higher or ordinary level in the Leaving Cert by next August 31st - and you must be not under 17 years old on June 1st next.

However, if you are 24 years or more by October 15th next, you are considered to be a mature student and there are then different requirements.

Q: I'm in fifth year now and would like to work in the London Stock Exchange or a related area such as investments. What kind of work is available? What third-level course should I pursue? Will I have to do a post-graduate course or can I start there immediately after a primary degree?

- Cavan student

A: Stockbrokers, market makers (previously known as stock jobbers) and investment analysts are all concerned with buying and selling stocks and shares (otherwise known as securities). Both market makers and stockbrokers are members of the stock exchange and some firms act as both.

Investment analysts are employed by stockbrokers or institutional investors to do research on companies, industries, markets or individual securities.

Market makers trade in securities on their own account with the aim of making a profit on each transaction. Though they no longer work in the hectic atmosphere of the exchange trading floor, they work from an equally busy dealing room in their own firms. There are no formal entry requirements, but most firms now recruit graduates only. A background in economics/ business/finance is useful but an interest in finance and business is essential.

In many large finance houses, recruits are introduced to all branches of the firm for about 18 months before deciding which section suits their abilities best. Before trading on the exchange, you must be registered with the Securities and Futures Authority (SFA). Some employers may also require the Securities Institute diploma. Openings for market makers are few and competition is pretty tough.

Stockbrokers, on the other hand, buy and sell securities as agents on behalf of individual clients or as principals with institutional investors. They also may advise clients on investments but the ultimate responsibility for the transaction remains with the client who pays a commission. Again, stockbrokers work from their own firms' dealing rooms using computers and telephones.

Recruitment requirements are similar to that for market makers but stockbrokers must be registered with the SFA and pass a registered person examination. There are about 400 member firms of the London Stock Exchange, so more jobs are available even though the competition is also very tough.

The work of investment analyst and fund manager are very similar. Investment analysts try to predict long- and short-term performance of securities. If they are stockbroker analysts, they advise clients - if they are institutional analysts, they advise their employers.

They also study foreign securities and, if working for a stockbroker, tend to specialise in particular fields such as utilities (gas, water, electricity) or other specialist areas.

Again there are no formal entry requirements but it's becoming increasingly difficult to be accepted as a trainee without a degree or professional training. Economics, statistics, accounting are good backgrounds plus languages if you hope to work overseas.

Most training takes place on the job while studying for tests set by the regulatory authority such as the Investment Management Certificate. This is usually followed by a professional qualification and associate membership of the Institute of Investment Management and Research.

Information from the Institute of Investment Management and Research, 211-213 High Street, Bromley, Kent BR1 1NY, or the Publicity and Promotions Department, The London Stock Exchange, London EC1 1HP, or the Securities and Futures Authority Ltd, Cottons Centre, Cottons Lane, London SE1 2QB.

Q: How much do I have to pay to accept an offer of a place on a course in the CAO scheme next August?

- Wicklow student

A: The amount to be paid in 1998 has not yet been decided but the amounts requested in 1997 are known. None of the institutes of technology (then RTCs), asked for any payment. Neither did NCAD or RCSI.

Most colleges asked for £250 except the following which asked for the £250 and an extra levy for students' centre/ sports facilities: UCD £10; UCC, NUI Galway and UL £30; TCD £50. In 1997, if you had been notified that you were eligible for a grant by your local authority or VEC, or if you or your parents had a medical card or were in receipt of Social Welfare benefits, then all you had to pay was £5. However, the students' facilities levy also had to be paid later on when in college.

Even if you did not pay when accepting because you thought you might be eligible under the above conditions, you would be required to pay the full balance later on.

Queries can be answered only through this column and not by phone or post. Write to Sile Sheehy, Education & Living, The Irish Times, D'Olier Street, Dublin 2 - or by email to education@irish-times.ie