TCLA Vacation Scheme Applications Discussion Thread 2022-23

[Lord Sumption]

Just received Paul Hastings Inside Look invite on 27 April - will be attending. DM me if you are going!!

Is this an open day or vac scheme equivalent?

 

[jomar]

Is this an open day or vac scheme equivalent?

It's open day basically

 

[Phoebe123451]

does anyone want to take one for the team and email A&P?😂😂😂

 

[HopefulFutureTrainee123]

does anyone want to take one for the team and email A&P?😂😂😂

Looking on the thread from last year, it suggests people received interview invites around the end of April/beginning of May

 

[Untilwinter]

I am just going to assume pfo now from wc

 

[SuccessfulSolicitor]

Are people still waiting to hear back post-AC f

Lol thank you 😂 I attended a grad rec zoom call sometime in Jan and they said that if you hadn't heard back they would consider you for Spring/Summer, so I didn't email them until last week when they said that everyone would hear the outcome soon!

Ohhh I hope you’re successful! W&C is defo the worst firm when it comes to giving responses. Though I have a feeling they’ll give responses tomorrow cause the spring scheme starts on Monday.

 

[Stasis]

Lol thank you 😂 I attended a grad rec zoom call sometime in Jan and they said that if you hadn't heard back they would consider you for Spring/Summer, so I didn't email them until last week when they said that everyone would hear the outcome soon!

Yeh I too have been waiting since October.

 

[Lily721]

Hi @Jessica Booker and forum members, I wanted to ask how you think is best to approach the following question:

Describe what you think it takes to be a successful commercial lawyer and what are some of the challenges you might face as a trainee solicitor. 300 words.

For the first part, I am expanding on two points in more detail, but the second part of the question throws me off a bit. My reaction is to list a few examples and then explain how I would go about overcoming them, but I know the question is not asking this so I feel it is wrong to take this approach.

Should I avoid making any link back to myself, and also should I only focus on 2-3 challenges in more detail, or is it fine to take more of an overview approach by naming a bunch of challenges?

 

[solba]

Hi Jessica, I’ve already completed the test which is the final stage for the vacation scheme, but there’s still an AC for the training contract later on if you’re successful. They use the same application for both so you can be unsuccessful for the VS and still get a training contract AC (which is what the office location preference is for).

Hi Jessica just wondering if you'd have some thoughts on this matter? @Jessica Booker

 

[Jessica Booker]

Hi Jessica just wondering if you'd have some thoughts on this matter? @Jessica Booker

If this is potentially before an offer is going to be made (eg for the vacation schemes I would notify the firm of the change in preference and explain why that has changed.

 

[Jessica Booker]

Hi @Jessica Booker and forum members, I wanted to ask how you think is best to approach the following question:

Describe what you think it takes to be a successful commercial lawyer and what are some of the challenges you might face as a trainee solicitor. 300 words.

For the first part, I am expanding on two points in more detail, but the second part of the question throws me off a bit. My reaction is to list a few examples and then explain how I would go about overcoming them, but I know the question is not asking this so I feel it is wrong to take this approach.

Should I avoid making any link back to myself, and also should I only focus on 2-3 challenges in more detail, or is it fine to take more of an overview approach by naming a bunch of challenges?

I actually think this is the right approach. I would just keep the how you would manage the challenges fairly brief and focused on really practical solutions. I’d probably keep the answer balanced - if you had two factors that make successful lawyers, id probably only do two challenges.

 

[HopefulFutureTrainee123]

I have a vac scheme coming up, and I spoke to a future trainee at the firm who said their hours were roughly 9am-8pm each day while on the scheme (not including evening socials). Is this standard for some firms? It felt a bit steep when I heard, but I’m unsure if I should just prepare myself to have no social life for two weeks 😂

 

[Samir_O]

Do Bakers hold separate ACs for direct TC applicants? wondering if its too late to apply, deadline end of this month and is rolling

 

[daisy_yawn]

I have a vac scheme coming up, and I spoke to a future trainee at the firm who said their hours were roughly 9am-8pm each day while on the scheme (not including evening socials). Is this standard for some firms? It felt a bit steep when I heard, but I’m unsure if I should just prepare myself to have no social life for two weeks 😂

On my vac scheme they strongly emphasised (both trainees and grad rec) that staying late wouldn't work in our favour and that we should leave at 6pm latest!

 

[Jessica Booker]

I have a vac scheme coming up, and I spoke to a future trainee at the firm who said their hours were roughly 9am-8pm each day while on the scheme (not including evening socials). Is this standard for some firms? It felt a bit steep when I heard, but I’m unsure if I should just prepare myself to have no social life for two weeks 😂

I wouldn’t say that is typical. Most firms/supervisors will be pushing you out the door at around 6pm.

They are trying to win you over, and it’s a shame that vac schemes are really more like what a trainee experiences, as 9-8 would be much more realistic insight of life as a trainee.

 

[HopefulFutureTrainee123]

They are trying to win you over

I’m just hoping that this firm isn’t trying to do this eg. If these are the VS hours where they’re trying to win candidates over, what are the TC hours like! I’m hopeful that they’re purely trying to give an insight into life as a trainee, but ofc I might be wrong.

 

[WAL007]

Guys if we have a question that asks us to talk about a current commercial issues - does the collapse of SVB answer this question in the sense that most tech startups cannot access their accounts no more that use SVB (most of its customers are tech startups)

 

[Cryingtiger]

I have a vac scheme coming up, and I spoke to a future trainee at the firm who said their hours were roughly 9am-8pm each day while on the scheme (not including evening socials). Is this standard for some firms? It felt a bit steep when I heard, but I’m unsure if I should just prepare myself to have no social life for two weeks 😂

Out of interest, what firm is this? 🫠

 

[HopefulFutureTrainee123]

Out of interest, what firm is this? 🫠

Will message you

 

[jomar]

Guys if we have a question that asks us to talk about a current commercial issues - does the collapse of SVB answer this question in the sense that most tech startups cannot access their accounts no more that use SVB (most of its customers are tech startups)

Not sure if anyone saw my reply a few weeks ago re: ESG/Bob Iger/Disney, which garnered a lot of positive reactions, but I will try to synthesis this situation well for you in terms of how I would answer/frame this question:

The main point is: SVB was a risk management disaster. The bank had USD$91B in startup company deposit go into the bank. The CEO/CFO/Board then go and decide to take that 91B and invest it in long term mortgage backed securities paying 1-1.5%.

The US Central Bank (The Fed) raises rates over the same period of time, and because interest rates are increasing, there are OTHER investments that pay higher. All of a sudden, 1-1.5% investment is quite poor relative to other opportunities.

The value of the SVB investment plummet. They disclosure this in an securities regulatory filing. VC firms and the smart lot of startup founders put 2+2 together, and boom, Silicon Valley Bank is bust.

Do not talk about startups not being able to access their accounts - talk about the fact this is a massive legal/regulatory/risk issue that firms can advise on. Where was the governance? How did the decision to invest 91B into long term low interest securities get past the board? Why did the CEO sell shares a week before this happened - which was approved AFTER the securities disclosure on the investment but BEFORE the collapse of the bank.

These are all massive commercial issues that can be focused on as opposed to simply talking about startups having their funds frozen.

My $0.02 - don't have to use anything I said, but this is how I would approach it.