TCLA Vacation Scheme Applications Discussion Thread 2023-24

[Lola333]

Sort of agree, sort of disagree. My partner (romantic) is the right hand of a partner (business) at a Big 4 who dropped out part way through a degree at what was then a poly but obviously now is making silly money. These days that would be nigh impossible because the partner wouldn't even have got their foot in the door. It was possible maybe 20/30 years ago to enter these sorts of professional services without strong academics but I think these days competition is so tough and the recruitment processes so rigorous that whilst it may be possible if you keep going and look for roundabout ways of entry, it requires so much mental fortitude and time and the sort of dogged determination I don't think too many people have.

Not to sound negative in the face of such good vibes of course but this is a conversation I've had many times with my partner (romantic) and we always come to the same conclusion!

laughing at (romantic) and (business)

 

[neonorange]

laughing at (romantic) and (business)

I saw someone have to make the distinction in this thread earlier this month so I though for the avoidance of doubt it was best to specify!

 

[Deleted member 17013]

Ok but once again, I think you are getting confused between HOW businesses compete and WHO the competitors actually are. Those are just ways that law firms compete against each other and try to stand out.

Let’s look at the example of the car industry for instance: Tesla and Ferrari are both car manufactures. Now just because Tesla produces electric cars and Ferrari produces high performance petrol cars doesn’t mean that they are not competitors. Just because they try to target different audiences, brand themselves differently, price their cars differently etc. does not take away from the fundamental aspect that they are both car manufacturers in the same industry.

Being in the same broad industry ≠ competitors. Competitors fight for the same market share. That might be at a particular price point, in a particular region or otherwise. For example, The Commercial Law Academy (am I allowed to mention them here LOL) is fighting for the same market share as TLCA (people looking to go into corporate law). By contrast, a business helping people get into investment banking is still in the industry of getting people into professional careers but is not threatening TCLA's/The CLA's market share

 

[justanotherstudent]

Jones day summer VS offer!

Congrats! When was your interview?

 

[Farhan65756]

has anyone else heard from ts?

I heard one person has actually heard back

 

[J53]

Re Competitors

There are two kinds-

Those who compete for the same work in a practice area or industry.
With the example of W&C, their Africa projects team will compete mainly with MC and Latham who do work in this area.

This will be different for each practice area!

Those who are following a similar business model overall (and particularly in London).
By being bigger in London (their biggest office) W&C is pushing Latham / Kirkland on office size, and thus is a competitor of those firms, moving to a more full service model. Equally these firms compete with established UK firms for talent and work in London. Its a very different model to a Weil for example, who focus on their core areas of expertise in London.

Completely agree. Another way is looking at NQ salaries. Firms that are at a similar level all tend to pay the same to reduce competition eg magic circle all pay the same, cravath scale etc. Remember pay = hours worked x hourly rate. if they’re paying similar to other firms they’re either charging similar or they’re working longer hours which is only possible up to a point.

 

[Boating]

Ok but once again, I think you are getting confused between HOW businesses compete and WHO the competitors actually are. Those are just ways that law firms compete against each other and try to stand out.

Let’s look at the example of the car industry for instance: Tesla and Ferrari are both car manufactures. Now just because Tesla produces electric cars and Ferrari produces high performance petrol cars doesn’t mean that they are not competitors. Just because they try to target different audiences, brand themselves differently, price their cars differently etc. does not take away from the fundamental aspect that they are both car manufacturers in the same industry.

Ferrari and Tesla are not competitors

 

[ah898]

Congrats! When was your interview?

14th

 

[yasmars]

Agree with this and to add to this. Cooley and Covington have a life sciences and tech focus whereas Orrick has an energy focus and then there are the big PE players that are known for their excellent culture and excellent work-life balance (Its a joke btw).

Over half of Orrick’s work is for the tech sector

 

[RonRod13]

Being in the same broad industry ≠ competitors. Competitors fight for the same market share. That might be at a particular price point, in a particular region or otherwise. For example, The Commercial Law Academy (am I allowed to mention them here LOL) is fighting for the same market share as TLCA (people looking to go into corporate law). By contrast, a business helping people get into investment banking is still in the industry of getting people into professional careers but is not threatening TCLA's/The CLA's market share

The commercial law academy is fighting for the same market share as TCLA? That doesn’t make sense, how can it be fighting against itself?

And this example only reinforces my point further if anything. TCLA is specifically in the business of helping people get into LAW. It’s found a niche industry and producing a service within that niche industry. Their competitors would be chambers student, legal cheek etc and other businesses that try to help students get into LAW.

They are not competing against companies like Wall Street oasis, corporate finance institute etc. These are some of the companies that try to help students into BANKING (another niche area of business) you are comparing apples to oranges in your case.

 

[nliro85]

Over half of Orrick’s work is for the tech sector

Was just stating what they are known energy and infrastructure

 

[mfuturetrainee]

dear god here we go again

 

[RonRod13]

Ferrari and Tesla are not competitors

Are they both car manufacturers, yes or no?

 

[Deleted member 17013]

Yeah calm with all due respect I am wasting my time here XD

 

[Kad28]

hi, guys has anyone heard back from Travers Smith? i saw on their tiktok page a video given interview advice.

 

[VMS]

hi, guys has anyone heard back from Travers Smith? i saw on their tiktok page a video given interview advice.

I've seen about one person on here, so doesn't seem to be many. I haven't heard back yet.

 

[law2022x]

for those who had a TI with Akin, when did you hear back?

 

[S87]

dear god here we go again

Lord have mercy!

 

[S87]

@Jessica Booker Mother please come and give these kids some slaps or at least something to worry about.

 

[kcr]

for those who had a TI with Akin, when did you hear back?

Heard back a week ago for an AC, seems like they’re still giving out AC offers.