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Hi guys

Was just looking for some advice on how to answer the above in a tight word limit (250 words)? Do you need to actually mention the competitors or just talk more about what makes the firm unique?

Thanks

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This was initially posted to a different thread but thought I'd repost it here. Please note, the case study may have changed since, or you may be given a different one.

From anonymous:

When was it?

Mid November 2018

What was it for?

Vacation Scheme (although the Training contract interview process is exactly the same)

First interview: Case Study

The first interview is a case study. You are given a document bundle to read through within 30 minutes. You then have to give a 20 minute presentation to a partner, who will then ask follow up questions for around 30 minutes.

The case study is typically a scenario of you as a trainee, working on an M&A deal. In the first couple of pages, a fictional partner provides some background information on a client. The client, an investment arm, is looking to acquire a target – which was a company producing [redacted] in my interview. You have to investigate the details of this deal. You are given explicit instructions by the fictional partner that you have to address 6 points. This includes questions such as: what legal issues are raised in the deal; how much the client should pay to purchase the target; and what are the shareholders rights issues (this was raised because the deal is a [redacted]).

The document bundle consists of different types of documents. There are company balance sheets, shareholder right documents; bank loan terms and conditions; and background company information on the acquirer and the target.

Note that this case study is immensely time pressured. There is about 30 minutes to read through it all. Seeing as there around 10 pages in the bundle, that gives you roughly 3 minutes per page. In fact, you probably have less time than this, because you have to factor in time to organise your thoughts and structure your presentation. It is also important to quickly discern what information is relevant to the 6 points that you are given in the briefing. Make sure you stick to the briefing instructions, and think carefully about how the information in the case bundle relates to the instructions.

Also, make sure that you do not just describe the issues at hand, but offer practical solutions. For example, in my interview, the [redacted] was being provided with automation technology by a supplier. What’s important is that you’re providing pragmatic suggestions to deal with aspecific problem you have identified.

In the presentation, you are being marked for the organisation structure of your answers. Make sure you have a clear and coherent structure – and, again, remember to offer practical solutions. The partner will probe you on various details you have missed. I think the best thing to do is engage with what the partner is asking you, to not be worried about looking over documents again (they expect you to do this), and to try and think on your feet.

Second interview: scenario based

This is the first time Allen & Overy have changed their second interview for years. It used to be competency and commercial. Now it is scenario-based. This means you’re extremely unlikely to be raised questions like: ‘what commercial news story interests you?’ You’re also unlikely to be asked firm-focused questions, like ‘where should Allen & Overy open its next office’ etc.

Instead, you are given a set of scenarios, and you have to answer what you would do in those circumstances. These scenarios were clearly pre-prepared by the interviewer and are testing specific skills, like adaptability. One example is: ‘you’re a trainee, and you have been working really hard on a specific task. But then, an associate says that you need to take a completely different approach and scrap what you’re doing right now. How do you react to this?’

These scenarios will be interwoven with related competency questions. So, with that scenario about taking a different approach, the interviewer would then ask: ‘has something like this ever happened to you in real life – when you worked really hard at something, but then had to completely change your plans? How did it make you feel?’

Some general advice:

The case study is considerably harder than the second interview. The latter will feel quite relaxing after the former. It is really hard to prepare for the case study, because it is such a unique task given the time pressure. Perhaps read some shareholder rights issues and do some basic balance sheet calculations (ebidta etc.)

But the most important things I would say is just relax, do your best, and try and engage with the partner and get into a conversation. The partner is not expecting you to retain all of the information. The case study is designed so that it is impossible for you to raise every issue and know all the ins-and-outs of it. So stay calm, listen to what the partner is asking, and engage with this as well as you can.

Hi All,

Just to let you know it’s FT.com Open Day, which means you can read the Financial Times for free today.

From here: https://aboutus.ft.com/en-gb/announcements/ft-sets-the-agenda-with-new-brand-platform/

16 September 2019: The Financial Times is calling for a better form of capitalism with its powerful brand platform, The New Agenda, launching today.

The publisher’s first major brand campaign since the global financial crisis, The New Agenda will position the FT at the forefront of debate about the disruption of established corporate and economic models and what should come next. Launching with the line - Capitalism: time for a reset - it will encourage business leaders to find opportunity in the new normal and promote stronger corporate purpose.

Introducing the concept to FT readers, editor Lionel Barber said: “The liberal capitalist model has delivered peace, prosperity and technological progress for the past 50 years, dramatically reducing poverty and raising living standards throughout the world.”

“But, in the decade since the global financial crisis, the model has come under strain, particularly the focus on maximising profits and shareholder value. These principles of good business are necessary but not sufficient. It’s time for a reset,” he continued.

The campaign, developed with The Brooklyn Brothers, foregrounds FT journalism and is entirely content driven. Through a series of provocations, audiences will be encouraged to consider the implications of major economic and societal change, including the ethics of investing, the potential perils of big tech and the future of the corporation itself.

On September 18, print copies of the FT will be wrapped with the highly visible campaign creative. On the same day, the publisher will make FT.com free to read globally for 24 hours in what it calls FT.com Open Day, when new readers are invited to explore the FT’s award-winning journalism online.

The global brand creative will run out of home, on digital, mobile and display, and will be complemented by an integrated acquisition campaign that will run throughout autumn across all regions. The New Agenda will also manifest in the weeks and months ahead at FT events and through field marketing; in partnerships, sponsorships and all external communications.

Finola McDonnell, FT’s chief communications and marketing officer, said: ‘Our readers want a guide to the risks and opportunities that disruption brings. But they also want to be challenged: The FT has the authority and credibility to ask fundamental questions of business and, with this campaign, we are highlighting the choices that will determine the future of the economic order, reflecting what we do every day through our unrivalled journalism’.

Click to expand...

Enjoy!

Clifford Chance's vacation scheme application question for this year is as follows:
You have told us about your academic achievements and work experience and now, in no more than 600 words, we are keen to hear more about you. This should include your extra-curricular activities, positions of responsibility and an achievement of importance which you are most proud of.

How would I go about structuring my answer to this question? I thought that I'd make a list of 4 or 5 distinct points addressing each part of the question, and how each point developed the skills I need to be a good trainee, but I'm not sure whether I need to link all my points back to Clifford Chance/commercial law. I want to avoid writing a simple list of achievements or extracurriculars, unless this is what the question is asking me to do.

Any advice by any person is sincerely appreciated.

Our interview course is live! Access it here:
https://classes.thecorporatelawacademy.com/p/interview-course.

In this course, we've brought together the knowledge and experiences of 9 future trainee solicitors to help you excel at interviews. These future trainees bring a variety of perspectives based on what they’ve learned interviewing at multiple law firms across the City.

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In this course, you will receive advice on preparing for competency and commercial questions, strengthening your application, building a rapport with your interviewers and much more.

We also break down TCLA’s best advice for the variety of assessments during assessment centres based on our experiences conducting mock interviews with hundreds of candidates.

Note, this course is free for members of TCLA Premium.

Our applications course will be released this Wednesday!

Hi everyone,

I am an overseas student with an LL.B. from a Dutch university and have recently moved to the UK and am now wondering whether anyone could shed some light on my chances of getting into a vacation scheme/training contract here?

As I have a non-qualifying law degree, I was also wondering whether it would increase my chances if I would self-fund the GDL (or an LL.M.?) and then apply for vacation schemes/training contracts? Unfortunately, I thought I could increase my chances by getting into a paralegal/legal assistant positions in the UK but despite strong academics and some work experiences at university, I have so far not had any luck

Thank you for any help!!

Hi Guys,

I am currently researching about tech evolution in Africa. I have found the companies on which I want to focus on, however I cannot find recent articles explaining city law firms strategy in Africa.

Could you help me?

Thanks

Hi everyone,

I know this has been asked before but unfortunately, I couldn't find where and I can't remember what was said exactly!

Should you put upcoming events you are attending on your work experience form?

After applying, I have been invited to attend the LawCareersNetLIVE event in December. Is this something I should put on applications now under work experience? If so, should I just leave the details blank?

Thanks!

Hi All,

It's awesome to receive messages from you guys to say you've secured a training contract. I quite often hear that future trainees to help us out at TCLA (which we really appreciate!) but aren't entirely sure how. I've put this list together to give you some guidance on what helps us out the most.

1. Share with us your success story*: It's always inspiring when future trainees come back and share with us their journey and advice.
2. Share with us your interview* or vacation scheme experiences*: your experiences and advice can help make a huge difference to future candidates applying to your firm.
3. Help candidates by answering questions and posting in the forum: this is a big one - we love it when future trainees come back to help out in the forum - everyone has their own journey and perspectives, which we are always keen to hear.
4. Spread the word! We rarely pay for advertising, which means we rely on a combination of word of mouth, social media marketing and quality content to grow TCLA. Anything you can do to help us reach more people is always really appreciated.

*If you'd like to do this anonymously, that's absolutely fine. Please send me your post via PM and I'll post it on your behalf.

Thank you!

Jaysen

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Do you wonder why bond prices and yields move in opposite directions?

Why is everyone talking about the inverted yield curve and what does this have to do with law firms?

In his debut article, TCLA writer Matthew Dow explains all!

Read here: https://www.thecorporatelawacademy.com/the-yield-curve-inversion-impact-on-the-legal-sector/

Hi everyone,

I have a vacation scheme interview with A&O and would be really grateful if anyone could share any experiences, tips or advice for this?

In particular, I was wondering how to prep for the case study part of the interview? I’ve never done a case study interview before so don't really know what to expect.

Any help would be much appreciated!!

Can you apply to more than one in the same year? E.g. to the spring/summer ones if you're rejected from the winter one?

I know on the website it says to only apply for one, but that's immediately preceded by a paragraph solely relating to international students so I wasn't sure whether that only applied to them.

TIA!

Hi All,

I'm pleased to say one of our long-time forum members, @Abstruser, has kindly agreed to answer any questions you have on this thread.

She is a future trainee at a Magic Circle law firm, and a first-class law graduate. She secured multiple training contract offers in her second cycle of applications as an international, non-EU student. She is currently studying the LPC.

You might want to use this thread to ask about how she worked on applications, went about developing commercial awareness or even tips for securing a first. Abstruser will be sharing her advice based on her own journey and experiences, but it's worth noting - there are many ways to approach all of these things and what works for one person might be different for another.

Enjoy!

Hi,

I have to complete a written assessment for an assessment centre with SEO London, and one of the questions is 'tell me about a commercial story or development of interest'. (300 word count)
How do you think I should go about this question?

Kind regards,
Jasleen

Hey guys,

I applied to a firm last year and was successful with the initial stages. Can I use similar application answers if I update and change my work experiences/motivations?

Cheers

Hi everyone,

Is anyone here taking part in the competition this year?

Thought we could share commercial awareness tips and tricks before it starts if people wanted to!

Hello,

I was reading one of TCLA's guides about how law firms grow internationally. Please does anyone know how White & Case grows internationally or where I can find it on their website?

Thanks.

Alot of people are having/going to have assessment centres. Whilst it's not really possible to prepare for the written exercises, it seems a lot of them involve writing a client memo.

I was wondering what is the best way to structure a client memo? I'm still slightly confused as to what the purpose of a memo is! If any trainees/vac schemers have done any, think their opinions could be really useful!
Any other tips would be greatly appreciated.

I've had a search and it doesn't seem as if this has been discussed before! Apologies if it has!

I couldn't remember if there was an article on the website about this already, but I think this is a key issue that law firms are facing and wondered if anyone wanted to share their thoughts as we get ready for application season. Please note that I have not done any specific research before writing this, and have just based this off of things I've read, heard at Open Days etc., as well as my own opinions.

For me, generational change is about how law firms engage with recruiting and keeping talent. In previous times the rigid 'up or out' system that we are fairly used to was the only model practiced at law firms, and while the work is still hard and the competition to reach partner is still fierce, it is now recognised the old system has led to a lot of excellent (but probably burnt out) talent being lost. Larger firms appear therefore to be doing more to keep staff feeling happy and supported, albeit in very different ways:

• On one hand, you can see this in the "Magic Circle" approach. This approach encapsulates firms, like the Magic Circle, that invest heavily in lawyer support services, diversity & affinity networks, as well as technology-enabled flexible and gig-working. I personally think that whether this has been successful or not is an open question: a lot of firms pay lip service to making the workplace more people-friendly, but unless you have childcare commitments, I do not think there is a huge difference between working hard till 1am at the office, or in your bed.

• On the other, I think we can clearly see a "Kirkland" approach. The Kirklands of this world are, like the eponymous firm, generally American and generally paying outrageous salaries at every level. There is probably less investment in support services here because of the lean nature of many of these firms' London offices, and the expectation is that the money makes up for the lack. Several firms seem to have opted for the Magic Circle approach because they cannot/do not want to compete with Kirkland et al's fluctuating dollar-pegged pay packets. It comes down to the idea of "you will work just as hard, but even though you will be paid slightly less than the top of the market, you will be far better supported."

Structural change to me seems more varied. The traditional legal career of trying to stay as a solicitor in private practice for as long as possible is no longer the only option. Becoming the in-house counsel of a business, which is where a lot of the 'out' typically ended up, is no longer seen as a career-ending move - many general counsel are recruited from the partnerships of top law firms, and you can now see movements of lawyers going the other way and back into private practice. Some larger corporates now offer training contracts to some employees, but it seems that this is only something offered to those who have worked there for a large period of time.

Another feature that has changed is how firms approach partnership:

• Some firms have chosen to double down on the traditional lockstep model, such as Slaughters, and it does have its benefits. Keeping a firm's culture collegial and the income of its partners relatively equal limits egos and other destructive behaviours, and promotes consensus and long-term strategic business planning.

• On the other hand, money talks, and a lot of partners and senior associates near partnership level are finding it hard to ignore the whispers in their ears of highly lucrative but short-term mega contracts at better-funded US giants. I think an article I read in Legal Week quoted one associate as being called by recruiters for different US firms up to 5 times a week.

• Equally, several firms have begun adopting equity/non-equity partner splits. This appears to me to be a double-edged sword. It allows ambitious associates who have no designs on going in-house to reach partnership a lot faster, but denies them the real rewards they have been seeking for several more years. I also think it stymies change within a firm. Existing equity partners have little incentive to change the direction of the firm's strategy when newer voices are only given a token stake in the outcome.

So what do you all think? What will the effects of all these changes be on law firms? Slightly more shamelessly, how would you make these points in an application?

My personal situation is probably very different from the vast majority of applicants, but I would appreciate any insights as to my prospects of securing a vac scheme and/or TC.

I study Law at a top university, after achieving very good GCSE and A Level grades. I achieved the highest marks in my home country for two out of my three subjects. However, my first year results were dismal, to say the very least. I initially struggled to keep up with the rigours of the course, and I suffer pure-O OCD and GAD. Whatever the cause was, I ended up failing my Contract Law module, which was probably the worst outcome for someone interested in commercial law. I re-sat and passed but my official mark is capped at 40%, so a bare pass. My performance in my other modules wasn't great either, with 2:2s and low 2:1s.

I was determined to turn things around and I really worked hard this year, alongside getting proper medication and counseling support. I've ended up with a mid-2:1 average for second-year, including a first. I know that for most law students such results come naturally, but after my first year, I am quite proud of how far I've progressed. I've been a Committee member on four different societies and I've taken up a part-time retail job. In terms of legal experience, I've done four internships at prestigious international law firms based in my home country; I've attended first-year insight schemes and campus Careers events, and I actively volunteer as a caseworker at a legal clinic. I'm also multilingual.

In short, do I still have any chance for even getting a vacation scheme? Firms keep on going on about how they're willing to take extenuating circumstances into account, but realistically, even if I write the best app I can; I have relevant ECs and good A-Levels/good second year grades (from a very reputed/competitive uni), does my first-year pull me back? My degree is awarded based only on second and third year performance so I can still achieve a 2:1 overall, but are firms going to reject me instantly because of Contract/an average of 2:2 in first year?

Would really appreciate any advice/support because I've been getting very anxious about my future. I do want to qualify as a solicitor in a commercial firm, and I feel like I've screwed up years of hard work and dedication because of one bad examination.

Dear all,

I am doubtful there will be many people who have been in my position. I am a funded Cambridge University PhD student (MSt from Oxford, First-Class degree from King's College London), going into my penultimate year. I have been researching law firms over the past year with an eye to leaving academia behind and making money in the city. I have a passion for life sciences in general, although my PhD is in Philosophy. I expect to graduate from my PhD in 2021, and am beginning to organise work experience in the legal sector alongside writing my thesis, as I am sure this is indispensable to finally securing a training contract.

Given that I am going into the second year of my PhD, when should I think about applying for vacation schemes and/or training contracts? I am aware that the GDL route will no longer be available in 2021 when I graduate. I am nervous about the unknowns of the SQE, and how training contracts will work around those exams (without being accompanied by a formal course of study).

I would be grateful for advice in my predicament. I already have an internship for summer 2020 at an educational charity in Monaco, so will not be able to do a summer vacation scheme. I wonder whether, with my current lack of legal work experience, it is worth my applying for vac schemes (for Winter 2019, Spring 2020)? Please, anybody, give this aspiring solicitor some advice.

All the best!

L

Hi guys,

I was hoping to get some clarity on this question:

Why have you chosen to become a solicitor? What relevant skills do you possess? (200 words)

Given this question is 200 words and wants me to cover why I want to become a solicitor AND what skills I possess, I have basically jumped straight into why I want to be a commercial solicitor specifically (it's a commercial firm that I am applying for.)

Do you think this is acceptable? Or should I make more effort to explain why I want to be a solicitor generally?

I'm trying to do it in 100 words to leave room for the skills.

Thanks!

Hi all,

I was just wondering whether Shearman's winter and summer vac scheme 2020 is on a rolling basis?

Many thanks!

As recruitment season is approaching, I was wondering about the sorts of questions I should be asking to Recruiters/Lawyers.

What are some of examples of questions that helped you decide on what firms to apply to for training contracts? What type of questions do you recommend regarding the application?

Aside from researching the firm's website, It's difficult to differentiate the law firm's culture and if it could be a good fit in such a short amount of time talking with recruiters and trainees.

Anything helps, thanks!