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Hi everyone!

I was wondering if anyone else has done legal work experience previously at independent/smaller firms and is now applying to international/bigger firms and how you explain this in interviews?

I have done a lot of work experience at a regional firm and find that this makes interviewers question my motivation. In truth, I did the work experience because it was an opportunity to get into law and I wouldn't ever turn that down. But now I struggle to explain how these experiences made me more interested in international work instead, without sounding like I'm dismissive of domestic work as I understand international firms do both.

... for applications, as some of the following advertised themselves as such but I don't feel as if they can be included?

-Aspiring Solicitors workshop at Dechert LLP (it was mainly focused on applications, interviews, commercial awareness, Dragons Den type competition etc.) so I am not sure if it counts? Although hosted at the firm's office with a couple of their lawyers present, the day was organised by Aspiring Solicitors

-volunteering (if there is not other section)

-firm presentations on campus

-firm workshops on campus (eg. components of a deal)

Which of these can be put under the 'work' experience area in application forms? Or should I just include the most relevant throughout the prose questions

Cheers in advance

Hey guys!!

I'm feeling a bit discouraged as I've missed a lot of deadlines for vacation schemes or been rejected from ones I have applied to.

I'm hoping to apply straight to training contracts and I'm wondering if anyone knows of firms that don't heavily select or favour vac scheme participants in the recruitment process.

Thanks in advance!

Hi

Just wondering if anyone has completed Pinsent Masons' GMA-A Psychometric test before (for the summer vac scheme)? They have provided a guidance sheet but no link to a practice test or anything.

Thank you in advance!

Hello everyone,

After a brief holiday hiatus, we are happy to share that our weekly commercial updates are back again! We will be posting our take on the week's most topical stories every Wednesday, so do follow this thread for more commercial updates.

Commercial Awareness Update: 23/01/19

The topics covered in this week's update are:

1. The UK Automotive Industry (by @bugsy malone)
2. Netflix's Q4 2018 results (by @Abstruser)
3. Potential tightening of US privacy laws (by @kitk)
4. The UK Supermarket industry (by @Sara Moon)
5. Apple's share plunge (by @Angel)

1. The UK Automotive Industry (by @bugsy malone)

The story:

The automotive industry seems to be heading for a down turn as it faces multiple challenges including:

• A fall in Chinese sales. China has been a huge growth market for premium carmakers so their slowdown has affected companies like Jaguar Land Rover (JLR) who heavily invested in the Chinese market, establishing production facilities. JLR saw a significant loss of around 50% in its October and November sales.
  
• The shake-up of tech.Demand for alternatively fuelled vehicles such as hybrids and pure electrics has increased by 30.7% to take a market share of 6.9%. To keep up with this growing demand and prepare for the future, carmakers are being forced to make big investments in electric cars, autonomous vehicles and mobility services such as car-sharing and ride-hailing. Carmakers also have to stay competitive against American tech giants such as Google with potential sights on venturing into transportation.
• Emissions regulation. The uncertainty around taxes on diesel cars has been blamed for declining sales.
• Brexit uncertainty. This has also been blamed by carmakers as negatively impacting on consumer sales. Additionally, a change in border checks could negatively impact carmakers who rely on just in time deliveries of parts. And this week JLR called on the government to ensure the UK does not leave the EU without a deal to prevent companies from having to make costly contingency planes.

Impact on businesses and law firms:

Law firm restructuring departments are likely to see an increase in work as companies are forced to take drastic action to survive this challenging time. Law firms may need to help companies with down sizing or leaving loss-making countries completely. For example, JLR announced they would cut 4,500 jobs last week to simplify its management structure and attempt to save £2.5bn.

Alternatively, M&A departments are likely to see companies seeking to increase sharing costs by forming alliances or full mergers which could bring large scale cost savings. An example of this consolidation is the new alliance between Ford and Volkswagen. The Economist commented these pressures for consolidation are unlikely to waver any time soon and an equity research firm said 2019 will be the year of “endless M&A rumours” as demand wobbles and costs soar.


2. Netflix’s Q4 2018 results (by @Abstruser)

The story:

Last week, Netflix released its financial results for the last quarter. The company added 8.8 million new subscribers over the last quarter, exceeding its own forecasts of 7.6 million. It also added $4.19 billion in revenue, a marked increase from this time last year. However, despite the strong performance, Netflix’s stock price fell sharply, dropping as much as 3.8% after the announcement.

At first blush, this seems puzzling. However, three days before releasing its results, Netflix announced that it would be implementing its largest subscription rate hike since it launched 12 years ago. US subscribers, its largest customer base, will see subscriptions hiked by 18% this quarter. This price hike is expected to help Netflix ease its huge debt pile. Netflix currently has a debt burden of $10 billion, more than twice its current revenue. Most of Netflix’s debt is issued to fund its content creation (ie, producing Netflix Original TV shows and movies, like Bird Box and Bandersnatch). Last year, Netflix spent $8 billion on content creation, so it is likely to spend even more this year.

Impact on businesses and law firms:

Netflix’s recent stock performance adds to the FAANG’s recent woes, as investors start to re-evaluate the viability of high-growth tech stocks.

More broadly, Netflix’s continued push on content creation, rather than deleveraging and scaling back its spending, is indicative of a larger battle for dominance in the content streaming industry. Amazon and Hulu already compete with Netflix in this sphere, but the real Goliath will be Disney, who is in the process of launching its own streaming service. With Disney’s vast array of original movies (think: the staggering range of Marvel and Pixar movies), added to by its recent acquisition of Fox, the stage is set for a titanic Netflix v Disney showdown. Grab your popcorn.

For law firms, this shifting dynamic will generate a lot of work for commercial departments. For platforms like Netflix, and possibly Amazon, the onus will shift to creating new content, which means contracting actors and producers to make new movies and series. Disney is also pulling all of its content off other platforms like Netflix, so intellectual property lawyers may be involved in shortening licenses, or seeking to negotiate extensions of current licenses, depending on which side you’re on.


3. Potential Tightening of US Privacy Laws (by @kitk)

The story:

The US is facing multiple calls for a tightening of its privacy laws.

In December 2018, a bill co-authored by 15 Democrat Senators, the Data Care Act of 2018, was released. This obliges online service providers to "reasonably secure" information which identify individuals and vow not to use it in harmful ways, notify users in case of a data breach and hold third parties with access to the data to the same standard. In the same month, a non-profit organisation, the Center for Democracy and Technology, introduced a draft nation-wide privacy law for data processing by private companies.

Just last week, Florida Senator Marco Rubio introduced the American Data Dissemination Act. It requires the Federal Trade Commission (FTC) to develop recommendations for the formulation of privacy law and submit them to Congress for approval. If Congress fails to approve of the suggestions within two years, the FTC could approve and enforce their own rules.

Currently, the US has various federal laws that protect specific types of data like those related to consumer health and credit scoring. Last June, California passed the California Consumer Privacy Act, which will enter into force on 1 January 2020. Still, there is no overarching, national-level data privacy legislation unlike, say, the UK’s Data Protection Act.

Impact on businesses and law firms:

As there is a trend towards fragmentation of data protection rules which apply in different jurisdictions, law firms must constantly keep abreast of regulatory changes which are related to data protection. In practice, this fragmentation also means that law firms might err on the side of caution and advise their clients to adopt a single data protection standard which satisfies the most stringent data protection requirements of different pieces of legislation. This can lead to an overall “racheting upwards” of data protection standards.

With the possibility of more data protection legislation, businesses that operate in and/ or deal with customers in multiple countries must more carefully consider the necessity, costs and risks of their data collection and use.

Apologies if this question has already been posted.

Guys, how do you approach the question "What do you hope to gain from attending an open day?

Hi guys,

I'm currently answering a question for a Lewis Silkin application and needed some advice.

The question asks: Give an example of a recent development which you think represents a challenge or an opportunity for a firm like Lewis Silkin. How should Lewis Silkin respond to that challenge or opportunity? (200 words)

I was initially writing about technology, but I had noticed that within Lewis Silkin's Ius Laboris employment law alliance they do not have a member law firm in Africa. Would this be a good opportunity to write about how the firm should take the opportunity to form an alliance with an African law firm, considering that it is an emerging market? I'm having trouble working out whether this is of something that would be of great importance to LS's practice...


Thanks in advance!

Sam

Interesting article on the reasons why Dyson is moving their HQ to Singapore, according to the CEO, this move has 'nothing to do with Brexit' - https://www.theguardian.com/technology/2019/jan/22/dyson-to-move-company-hq-to-singapore

Slaughter and May training contract interview, December 2018.

Anonymous poster

Congratulations on your interview!

Slaughters is a really difficult interview to prepare for, not because it is difficult in itself, but because it is unpredictable. I personally had a very conversational, not-so-commercial interview, but I have heard of many others who had structured, extremely commercial interviews.

A few things I would recommend for the partner interview:

• Be confident. This is literally the most important piece of advice I can give. The Slaughters interview is very much based on partners getting a feel for your personality and whether you will fit into their firm. 200 of their 220 partners trained at the firm, so 'fit' is quite important that way. Of course, there is more to your personality than just being confident, but by being nervous and uncomfortable you are definitely not demonstrating that 'fit'. I used to go into interviews thinking I had 'gotten lucky', thinking it was a fluke. That really affected the way I interviewed, and generally made my interviewers uncomfortable. Go into your interview knowing you have everything it takes to be there, and that you 100% deserve to get the job (or vac scheme). That will help make your answers more convincing, your demeanour more relaxed and the interview less stressful generally.
• Have 4-5 large news stories you have been following. I usually pick about 3 massive stories (Brexit, US-China trade war etc) and 1-2 smaller stories that I personally find interesting. You are bound to be tested in some way about your commercial awareness, either in your interview or case study, so knowing about the 3 massive stories shows that at least you are aware about popular and current affairs. Having 1-2 smaller stories is helpful just in case they ask you about something you've been following, and you can talk about a less cliche topic and one that is genuinely interesting to you.
• Know your CV inside out. This sounds really obvious, but you need to know everything you have written on your application form, and thought about all the possible questions that might be asked based on that information. For example, if I wrote I was working at a fintech startup, they might ask me what my role was, why did I choose the startup vs a law firm, what did the startup do, etc. If you've highlighted a specific task you did, eg 'drafted opinion on securitisation', be prepared for questions like 'what is securitisation'. The last thing you want is to look like you've exaggerated on your application form.
• Prepare questions to ask after the interview! My conversation with the partners after the interview went on for quite some time, and I got the feeling they were testing both my interest in the firm and also my ability to hold a conversation. Read some of their latest publications, have a look through what the press has been saying about them and come up with 2-3 prepared questions. The rest will flow naturally.

On the 15-minute article, it is always an opinion piece either from The Times, FT or Guardian. The topic is highly unpredictable, but it will never be anything too technical. Just have a grasp of what the article is about, have a viewpoint, and be ready to defend it.

The case study isn't very difficult. You're given 60 minutes - really plenty of time, as the case study itself is only a few pages long. You have the option to type or handwrite - definitely choose to type, unless you're really fast at writing!

The HR interview is really casual, but still assessed, so maintain your professionalism and answer the questions. I was asked about how I thought I did in the interview, and a couple of motivational questions.

Hey guys!

Found this article interesting https://www.gulf-times.com/story/618047/Blockchain-is-making-its-way-into-Islamic-finance

With lots of firms specialising in Islamic finance, I think it's interesting to consider some of the implications of blockchain in this area.

Is it possible to request from firms a breakdown of how you answered each question, in order to learn for the future? Or are firms quite strict with just telling you whether you passed/failed?

Hey guys!

I am in the process of applying for a TC at Orrick and in addition to their cover letter requirement (500 words), we are also required to answer 6 contextual questions. My question is what you would recommend including in the cover letter if most of the contextual questions cover things you would traditionally write (ie. I would normally explain why I chose law, why I chose the firm and why they should choose me in the cover letter but the questions essentially cover this). The questions include:

-Why specifically are you interested in training at Orrick? What makes us different to the other firms you have applied for? (250 words)
-Why have you decided to pursue a career as a commercial lawyer working in an international law firm? What factors and influences have affected your decision? (250 words)
-Have you been following any recent news stories or events that have attracted your attention and you think would have an impact, or be of interest, to Orrick? (250 words)
-What is your proudest achievement and why? This does not need to be academic related. (200 words)
-Please detail academic awards, prizes or scholarships and non-academic achievements at school, university and law school (if applicable). (200 words)
-Describe your involvement and positions of responsibility in any extra-curricular activities including societies, sports, charitable and voluntary work. (200 words)

Thanks in advance!

Hey guys,

I have a Linklaters AC coming up in less than two weeks. Would anyone be able to share some advice? I have never taken an e-tray exercise before, so any tips for it would be greatly appreciated!

Hi guys,

In the midst of sending off more vac scheme applications as a second year law student.

I am just wondering what the realistic possibility of me landing one is considering I have only got a 3 day regional firm administrative work experience stint a couple of years ago and a couple of paper rounds under the work experience section...

I applied for a few insight days last year but I was not accepted, and spent last Summer studying at NUS on a university Summer School type programme.

Any advice on what my next steps should be? Or is this not fatal to my application.

My first year results from a Russell Group uni were all an okay 2:1, but not outstanding.

Thank you in advance!

Please use this thread to post any links/thoughts on these topics.

To kick us off: https://www.bbc.co.uk/news/technology-46944696

Google has been hit with a €50 million GDPR fine by the French data regulator.
This was due to a "lack of transparency, inadequate information and lack of valid consent regarding the ads personalization".

Hi All,

I have recently come across the above question during an interview, and I was wondering how do people tackle this sort of question?

I try and mention a few unique features of the firm, i.e. innovative nature, high cross border deals, international reach etc..

It would be interesting to see what others think.

Hey guys,

I am trying to draft an answer to the following question: Describe a time when you had to drop everything and really “raise your game” in order to keep a promise you had made to someone else. How did you manage both this and your other commitments

This is the answer I have so far:


In second year, I stepped in as interim fundraising officer for LSESU Global Brigades. As fundraising officer, my task was to raise at least £1000 in six weeks as our minimum brigade contribution. I had to balance this task with other commitments, including participation in moot-court competitions and deadlines for summative coursework. I navigated this challenge by doing three things.

First, I broke down our £1000 target into smaller goals, aiming to raise at least £400 every two weeks. To accomplish this target, I estimated potential revenues from one fundraiser, eventually determining that two weekly fundraisers could help us achieve our target. I assembled both brigades for a meeting and proposed these targets.
After receiving their approval, we collectively planned a ‘fundraising calendar’ and designated Tuesday and Thursday as our weekly fundraising days. After this, I contacted the Activities and Development officer at the Student Union, outlined our tight fundraising timeline, and convinced her to reserve a weekly stall for our society for the next six weeks. On the day of each fundraiser, I had to set up the stall with our baked goods, assist team-mates with sales and record our cash-flow. Our fundraising experienced several ‘bumps’; sales were slow, especially due to the snow in February. I proposed that we individually visit various faculty buildings and pitch our goods to academics. We were able to increase our income by around £108 due to this ‘door-to-door’ fundraising in February.

Secondly, I resolved clashes with fundraising and my other commitments by prioritising academics and communicating with my team in advance. One example of this was when I had a 4,000-word summative essay due on Friday and the semi-finals of a moot competition on Thursday evening. I told my team that I would not be able to supervise at the stall, and the business brigade leader helped me by volunteering to set-up and supervise.

Consequently, we held ten fundraisers over the course of six weeks, and raised £1042. In addition to this, we sold glow-sticks at the local club queues for five Fridays straight, eventually adding £237 more to our revenue.

I am having the following issues with my answer:

1) Am I being too descriptive? I am not sure if I have adequately answered the question enough.
2) Any bits or details that you guys think are not needed? I am running way over the word count so any tips on how to trim the waffle would be great.

I just got invited to do a video interview for Gowling WLG's summer vacation scheme.

The email says 'it is a short interview to give you a realistic preview of the type of work we do at Gowling WLG and also what our culture is like. This means that we will present you with a scenario and will ask you how you would deal with it, what action you would take and how you would achieve a positive outcome'.

Has anyone done a video interview with them before? I'm guessing this a situational judgement test in the form of a video interview (and probably mixed with competency based questions). Any tips would be appreciated! Thank you.

This is one of the VS questions from CRS...just wondering if anyone had any tips on how to answer?! I'm guessing they are just looking to see what sort of values the character holds and in what ways you identify yourself with them - but I really have no idea who and how to pick! Has anyone else had to answer this before?

Hi,

DOes anyone have any suggestions for good questions to ask at the end of an interview?

Does anyone have any tips as to how to value a company using its balance sheet, my thoughts are subtracting the liabilities from the assets. Though I'm aware shares are also included in the balance sheet (correct me if i'm wrong pls) - how would i take those into account?

Just generally as well - any guidance as to how to talk about about a balance sheet in interviews?

Thank you!!

Hi everyone,

I was wondering if anyone has experience of the Addleshaw Goddard Assessment Centre? The e-mail received tells me that there will be a group exercise, an interview, a partner briefing exercise and a proofreading exercise.

Has anyone got any ideas what the partner briefing exercise will be?

Huge thanks for any help!

Hi guys,

I cannot access Mayer brown graduate website.

Am I the only one who is having this problem?

Hi,
I am currently working on a research task for my interview at a law firm next week.

The scenario is that a private funds client in the States is setting up a new fund structure in a couple of different countries and is considering adding a limited partnership/private fund limited partnership.

Now I need to give a recommendation to the client advising them whether to set it up as a traditional LP or a PFLP. I also need to include the advantages of using each of these vehicles.

I understand that the new PFLP is much more flexible as it reduces the administrative burden and also can give the limited partners more rights.

However, the whitelist does not guarantee LPs any actual new powers over the fund - it is still up to the investors and managers to commercially agree on the inclusion of such power in the contract in the first place.

I would definitely recommend the client to go ahead with the Private fund LP and cannot really see any advantage that the LP has over the Private fund LP.

Am I missing out on an important point here?

For those in on a Saturday night, Trump is about to make a "major announcement" on on “the humanitarian crisis on our southern border” and the partial government shutdown. For context, this is the longest government shutdown in US history.

You can watch it here: https://www.whitehouse.gov/live/