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TCLA Vacation Scheme Applications Discussion Thread 2024-25

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Amma Usman

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3 THINGS YOGA HAS TAUGHT ME (that apply to the law firm application process!)

The truth is, yoga and the law firm application process might seem worlds apart, but they share fundamental lessons that can make a real difference in approaching applications with clarity and confidence. When I was applying, I sometimes overlooked these three key things, which is why I am sharing them now, with the hopes that someone out there takes something from it too!

1. Discipline and Consistency Matter
Just like yoga requires regular practice to build strength and flexibility, the law firm application process demands consistent effort. Whether it’s refining your commercial awareness, perfecting your cover letters, or improving interview skills, progress comes from persistence. Even on tough days, showing up and putting in the work can make all the difference.

2. Balance Is Key
Yoga teaches the importance of balance, whether between strength and relaxation or effort and ease. The same applies to applications: balancing research with reflection, confidence with humility, and preparation with adaptability. Overloading yourself with applications can lead to burnout, while applying too passively might limit opportunities. Finding the right rhythm ensures both effectiveness and well-being.

3. Embracing Discomfort Leads to Growth
In yoga, holding a challenging pose might feel uncomfortable, but pushing through helps build resilience. Similarly, the law firm application process involves stepping outside your comfort zone, whether networking, handling rejection, or tackling difficult case study exercises. Growth happens when you embrace challenges rather than shy away from them.
 

Amma Usman

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Is it worth applying to firms if I haven't attended an open day or one of their virtual events? (My interest in the firm would only be shown through my online research and also perhaps speaking to one of the firm's solicitors)

@Jessica Booker @Amma Usman

You don’t need to have attended an event. The key is how you link your experiences from that event, to the new firm you’re applying to. For example, if you got an insight into a practice area that the firm you’re applying to is good at, use that experience to show demonstrated interest!
 
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M_m

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Jun 27, 2023
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Hi did you find any resources apart from the practice test ? I am panicking a bit...
Also good luck for the virtual aC! What time are you doing it?
Assessment Day and Job Test Prep both have paid packages specifically for the SHL deductive reasoning tests (including the interactive version). Assessment Day is significantly cheaper and with more practice tests.
 

Amma Usman

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WHAT IS LIQUIDITY?

Liquidity refers to the ease with which an asset can be converted into cash without significantly affecting its value. In financial markets, cash is considered the most liquid asset because it can be used immediately for transactions. Other assets, such as stocks and bonds, are also relatively liquid, as they can be sold quickly, though their value may fluctuate depending on market conditions.

On the other hand, assets like real estate or private equity investments tend to be less liquid because selling them can take time, and their value may be harder to determine at any given moment. Companies and investors pay close attention to liquidity because it impacts their ability to meet financial obligations, take advantage of new opportunities, and navigate economic downturns.

Having sufficient liquidity ensures that businesses and individuals can respond effectively to unexpected expenses or shifts in the market.

Trading Platform Water GIF by Plus500
 

Andrei Radu

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I had a first-round interview with GDC back in December and sent a follow-up email shortly after. Since then, I’ve been ghosted by the firm, while others who interviewed after me have already received rejection emails. Does anyone know if GDC has a waitlist, or if sending another follow-up email would come across as inconsiderate?
If you have already sent a follow up I would advise you to just wait a bit longer. I had a friend in a similar situation who interviewed with White & Case in December. He sent a number of follow ups and did not receive any response so he assumed he had been rejected, but then he ended up getting the offer a few days ago. For one reason or another, firms sometimes have drawn out processes - and the general rule is that no news is good news. As such, I advise you to wait one or two more weeks before sending a new email.
 
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elena11

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Jan 31, 2025
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Hey everyone I've been reading FT, economist and similar sources to improve my commercial awareness and I've found that it has helped keep me up to date with current trends in the market etc. What should I read to help me understand specific things such as the difference between debt financing and leverage buyout? Is there a resource for key terminology for corporate law that I can utilise? Thanks!
 
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