TCLA Vacation Scheme Applications Discussion Thread 2024-25

[l789]

Anyone else receive a paul weiss online open day invite along with the PFO? Wondering if it’s a standard thing they do?

It’s a step up and advantage nonetheless from those who didn’t apply to the open day at all (granted it’s exclusive as it says and was only emailed to applicants who applied).

We will still be getting a good insight into the firm- as they haven’t posted any virtual events as of yet. So it’s only the open days by which we can learn more and get some juicy info

 

[LimitedLiabilityLover]

Thank you this us really helpful.

Thank you for this and yes that is a good poi8nt. Also I could discuss what is happening in the US and whether that could affect this whether Trump will raise interest rates.

Unlikely that Trump will, Jerome Powell (president of Fed) has been, over the past few years, the first person to cute base rates.

 

[Tcvspfo]

Unlikely that Trump will, Jerome Powell (president of Fed) has been, over the past few years, the first person to cute base rates.

Yh was thinking that also maybe as Trump wants to help businesses grow.

 

[studentdelaw786]

Wondering about Weil too, but in website it says all applications will be reviewed regardless of when you apply

Weil is rolling but Grad Rec confirmed at the insight evening it’s still okay to submit your application

 

[studentdelaw786]

is it too late to apply for rolling deadlines (esp ones in december or even early jan) like weil, bird & bird, hogan lovells etc? wouldn't wanna hurt my chances in the future by sending off an application that won't even be looked at...
also is davis polk rolling?

Davis Polk is non-rolling.

 

[BBsharkk]

I did as well, I want to know if they selected a pool of candidates who slightly missed the mark for their in person open days to attend the online one- or if it’s just generic

Wondering if anyone else who got rejected from the previous open days also recieved an invite?

Pretty sure everyone gets the invite as you automatically get the link after registration.

PW will most likely be at least the 3 most competitive firms this cycle, so not surprised at all with how competitive their open days are.

 

[Boating]

For this Goodwin question.... Discuss a commercial issue that has particularly interested you. Why did it capture your attention, and what impact could it have on the legal sector?

Are they looking for a general issue (i.e. interest rate rises, i probably wont use that...) Or are they looking for a particular story (like a recent merger for example). @Jessica Booker @Andrei Radu @Amma Usman @Ram Sabaratnam (sorry for the tags lol) Thank you!

Just following on this, if anyone can help I’ll be grateful!

 

[Ram Sabaratnam]

Would love thoughts on this - A commercial issue for Weil app am thinking of talking about the rise of private credit. This is a commercial issue that affects asset management and PE firms for alternative forms of financing through private credit. My issue is will this still be relevant as interest rates and inflation have be lowered will private credit still be relevant. Any thoughts on this @Ram Sabaratnam @Amma Usman @Andrei Radu

Hiya @Tcvspfo

I think this could make for a great topic to discuss. While interest rates are easing, this doesn't mean there are no remaining and live issues surrounding private credit. If you're worried that interest rates will make for less of a compelling focus, you could also consider tackling the trend from other angles, including:

1. Regulatory Scrutiny: You might've heard about the relatively new EU leverage caps on private credit funds and increased FCA data demands highlight challenges for fund managers and PE clients. Many of the concerns that motivated these regulatory interventions haven't gone away, and you can read about this here in a more recent Bloomberg article covering the issue of private credit valuations. There's also questions about the general transparency of the sector, which the UK is now particularly focussed on. Have a think about how this creates opportunities and challenges for firms like Weil to help clients navigate.
2. Market Growth: There's been increasing involvement of big players like BlackRock in private credit. You might want to reflect on the way these moves create competition pressures and demand for bespoke legal structuring.
3. ESG Pressures: As with many other forms of financing, private credit providers face growing scrutiny on sustainability practices. There's even been calls for certain well-known private credit specialists to be removed from initiatives such as the UN-backed Principles for Responsible Investment Scheme. Again, think about how these efforts relate to firms such as Weil and their clients.

You could also explore how certain recent high-profile disputes (e.g., Cerberus) have highlighted the need for strong legal advice. Again, the point just is that private credit remains a live issue for many reasons aside from interest rate fluctuations. I'm sure that @Andrei Radu and @Amma Usman would have much more to add here as well, but I hope this helps you get the ball rolling on your answer.

 

[l789]

Pretty sure everyone gets the invite as you automatically get the link after registration.

PW will most likely be at least the 3 most competitive firms this cycle, so not surprised at all with how competitive their open days are.

I know… I just wanted to feel a bit special, like I was a strong applicant.

But wonder if previous open day rejectees also had the same

 

[Tclarocks123]

Just following on this, if anyone can help I’ll be grateful!

same

 

[SoonToBeTrainee]

I know… I just wanted to feel a bit special, like I was a strong applicant.

But wonder if previous open day rejectees also had the same

I applied to a prior PW open day, got rejected, and didn’t receive an invite for an online open day.

No one has mentioned an online open day up until now either, so I don’t think anyone who previously applied got invited to one

 

[legalxp2]

Anyone heard from Mischon?

 

[Tcvspfo]

Hiya @Tcvspfo

I think this could make for a great topic to discuss. While interest rates are easing, this doesn't mean there are no remaining and live issues surrounding private credit. If you're worried that interest rates will make for less of a compelling focus, you could also consider tackling the trend from other angles, including:

1. Regulatory Scrutiny: You might've heard about the relatively new EU leverage caps on private credit funds and increased FCA data demands highlight challenges for fund managers and PE clients. Many of the concerns that motivated these regulatory interventions haven't gone away, and you can read about this here in a more recent Bloomberg article covering the issue of private credit valuations. There's also questions about the general transparency of the sector, which the UK is now particularly focussed on. Have a think about how this creates opportunities and challenges for firms like Weil to help clients navigate.
2. Market Growth: There's been increasing involvement of big players like BlackRock in private credit. You might want to reflect on the way these moves create competition pressures and demand for bespoke legal structuring.
3. ESG Pressures: As with many other forms of financing, private credit providers face growing scrutiny on sustainability practices. There's even been calls for certain well-known private credit specialists to be removed from initiatives such as the UN-backed Principles for Responsible Investment Scheme. Again, think about how these efforts relate to firms such as Weil and their clients.

You could also explore how certain recent high-profile disputes (e.g., Cerberus) have highlighted the need for strong legal advice. Again, the point just is that private credit remains a live issue for many reasons aside from just interest rate fluctuations. I'm sure that @Andrei Radu and @Amma Usman would have much more to add here as well, but I hope this helps you get the ball rolling on your answer.

Thank you this is really helpful and so insightful @Ram Sabaratnam

The bit about high profile disputes is an interesting point and never thought about that. I will look into that and do more research into it.

It is great to see your detailed commercial awareness and love your detailed responses.

 

[Andrei Radu]

For this Goodwin question.... Discuss a commercial issue that has particularly interested you. Why did it capture your attention, and what impact could it have on the legal sector?

Are they looking for a general issue (i.e. interest rate rises, i probably wont use that...) Or are they looking for a particular story (like a recent merger for example). @Jessica Booker @Andrei Radu @Amma Usman @Ram Sabaratnam (sorry for the tags lol) Thank you!

Hey @NJS I think both can work, as long as you can explain (i) why this general commercial issue/more particular story interested you more than other general commercial issues/more particular stories; and (ii) how it directly impacts the business and practice of law firms in the future. Generally, I think it will be easier to fulfil both criteria when discussing a broader commercial topic as that is by its nature something that tends to have a wider and more significant impact on the economy. If you choose to discuss a more particular story, like a merger, it will require a lot of research to be able to properly explain why this merger was so unique so as to distinguish it from all other deals and also why it is likely to have a significant impact on the legal industry in the future. Indeed, only a handful of transformative and precedent-setting deals will ever be capable of fulfilling this requirement.

 

[BBsharkk]

I know… I just wanted to feel a bit special, like I was a strong applicant.

But wonder if previous open day rejectees also had the same

I completely understand. I applied twice for their open days and put quite a bit of effort in the later one as well. But the truth is given how much interest is shown in this forum alone, PW will be incredibly competitive for all the reasons, notwithstanding its meagre trainee intake.

The online invite should be for everyone who got rejected for the last open day, although I might be wrong.

 

[Ram Sabaratnam]

Just following on this, if anyone can help I’ll be grateful!

Hiya @NJS

I'd be curious to know what @Andrei Radu and @Amma Usman say here, but I think this question is more flexible than it might seem. I think you can choose either a broad commercial issue or a specific event (as long as you can point out what commercial issue the story raises) and then explain why it interests you and connect it to the legal sector. If you choose a broad topic (e.g., interest rates, increasing liquidity constraints, ESG investment trends), focus on recent developments, challenges or opportunities the topic raises for clients and firms in roughly the same position as Goodwin.

Alternatively, if you do choose a particular story, like a recent merger, case, or regulatory change, I would ensure that your response highlights the specific commercial issue or opportunity that the story illustrates. That is, try to think beyond the story itself and consider what commercial trend or commercial opportunity/challenge the story brings into focus. For instance, consider the dispute-related story between Cerberus and Spanish Bank Sabadell (I mentioned in my previous post). Given Goodwin's expertise in both real estate and private equity, this recent case could be an apt news story to discuss, but what commercial issues/trends does this raise? For instance, does it raise questions about how private equity companies should handle distressed property portfolios in the future? How could decisions like this affect investor confidence in private equity funds dealing with distressed or complex assets? Could cases like this alter how such distressed assets are valued in PE transactions? Again, these are just some ways of drawing out the commercial trends/challenges/opportunities posed by a single story.

Overall, I'd say focus on an issue or news story you genuinely find interesting and that's relevant to law firms operating in roughly the same segment of the market in which Goodwin is positioned.

 

[l789]

I completely understand. I applied twice for their open days and put quite a bit of effort in the later one as well. But the truth is given how much interest is shown in this forum alone, PW will be incredibly competitive for all the reasons, notwithstanding its meagre trainee intake.

The online invite should be for everyone who got rejected for the last open day, although I might be wrong.

Aw thank you for being honest and understanding about things.

I’m sorry to hear you got rejected, especially after putting in so much effort.

I wish you all the success with your applications and hope you follow through (and achieve the outcomes you deserve) with your desired firms, no matter the rejections or setbacks

 

[Andrei Radu]

That’s what I would usually do but there’s no questions on the application form so I wasn’t sure!

Just to add to @Amma Usman's great response, I think to the extent that you can make connections to the firm in the work experience section (such as mentioning why particular skills demonstrated by your work experiences align well with the responsibilities and tasks in the firm's main practice areas), I think you would be desirable to do so. However, my advice is to only do so if you can draw plausible links - do not grasp at straws, as this will be very evident for recruiters. I don't think it will be a big issue if you do not get to mention many 'why the firm' points. Some firms simply prefer not to ask the 'why the firm' question at this stage and to assess your application on other criteria. If they cared a lot about your why the firm reasoning at this point in the application process, they would have asked the question directly.

 

[cheeseontoast]

Pretty sure everyone gets the invite as you automatically get the link after registration.

PW will most likely be at least the 3 most competitive firms this cycle, so not surprised at all with how competitive their open days are

Who are the remaining 2? just to have an idea

 

[cheeseontoast]

Can you apply to both the linklaters direct TC and vacation scheme? I would really prefer not to do a vac scheme as I work full-time but my success rate with direct TCs is awful compared to for vac schemes…

I asked the exact same question the other days, this is their reply:

"We advise to apply only for one vacancy per recruitment cycle as you can complete online assessments only once per academic year so your scores from first application will be considered for the second one as well."