TCLA Vacation Scheme Applications Discussion Thread 2025-26

[xMontmorency]

@Andrei Radu
Or anyone for that matter. Could someone explain whether there is a structured finance element in PE? I'm trying to understand the main differences between Kirkland and Weil and one clear point is that Kirkland doesn't have nearly as strong of a securitisation/ structured finance capabilities though is trying to build that out.

My question is why would Kirkland want to do this? I don't think Kirkland is trying to challenge the big dogs like Milbank or Paul Hastings who dominate the instituional bank side. Are they trying to build into the CLO manager side? Or is structured finance an important part of PE? The only way I can see this if the PE firm that Kirkland is advising on needs some kind of mezzanine funding, which in my mind seems rarer than other types of funding.

Alternatively, if someone has insight into what Weil's structured finance team actually does (i.e is it a strong practice area or merely complementary to PE) that would be so helpful. I feel like it isn't a main practice area? Maybe complementary to restructuring? But again I have no clue.

Not sure I fully understand your question but some thoughts:

• Lawyers working on structured finance transactions would be finance lawyers not private equity (corporate) lawyers.
• Structured finance ≠ CLOs. Pretty sure CLOs are the biggest sub-category, but structured finance includes all kinds of financial instruments like derivatives and other wonky lending arrangements.
• I don't think either Weil or Kirkland have a particularly strong structured finance practice in London. They mostly focus on borrower-side LevFin.
  • Kirkland literally only has Suril Patel who basically only advises PE sponsors.
  • Weil does have Andrew Lauder and Jacky Kelly who do some lender side securitisation and derivatives work alongside LevFin.
  • But overall not much.
• But, given structured finance is a bit of a loose concept most finance departments will come across it in some form when working for clients.
• Most likely, the majority of the structured finance work Weil and Kirkland do is driven by borrower side mandates for PE clients that might involve structured forms of borrowing like margin lending, NAV financing and specific asset-backed or PIK loans in some whacky corporate structure, or work they do in restructurings.
• From what I can tell I don't think either of them are building out into the CLO manager side, or the institutional bank / private credit side. If I had to guess why, I'd say: (i) structured finance is smaller and probably a little less lucrative than general LevFin, (ii) tough competition, and (iii) it might generate conflicts of interest with your borrower-side clients if you started advising lenders.
• Not sure whether the question "is structured finance an important part of PE?" follows.
  • CLOs are private credit since the money is raised through a private fund structure.
  • Derivatives are neither (I think?)
  • CLOs and other forms of structured finance are an important part of traditional private equity in the sense that it eases access to debt. But a private equity firm may have nothing to do with the collateralisation of the loans they have taken out.
  • So, for a law firm, having a dedicated securitisation / secondaries practice isn't really necessary to be able to advise PE sponsors.

 

[Anniee]

How long for CC to inform you whether you’ve passed Watson Glaser?

I think if you pass they will send you an email right after you done the test. But if you haven’t heard back I would suggest emailing them, CC grad rec team is very responsive

 

[Anniee]

CMS!

Hi, if you still need guidance on this I’m happy to give some insight through private message. My answer got to the test stage this year (I’m assuming the test is not automatic 😅 )

 

[Abbie Whitlock]

@Abbie Whitlock Do you have any advice on how to answer this question: Give an example of when you used technology to improve efficiency or solve a problem. What did you learn from this experience?

Feel like this is a dumb question but what could count as the use of technology?

Hello!

That's a great question - it's not dumb at all! Technology can mean a lot of things, and in this context, I would say it is any tool, app or system that aims to make a task easier or more efficient.

For example:

1. Using legal research databases (such as Westlaw and LexisNexis) to find cases faster or more effectively
2. Creating a case summary or reading summary template in Word or Excel to standardise how you take notes and save time later.
3. Using a reference-management software (such as Zotero) to organise sources for university essays.
4. Setting up shared folders or Google Docs to collaborate within group projects

When approaching the question, I would approach it as:

1. What was the problem or task?
2. What technology did you use?
3. What was the result or impact?
4. What did you learn from it?

So don't panic - it doesn't have to be something really technical! It's just about showing you can use technology thoughtfully and effectively

 

[Abbie Whitlock]

Hi @Abbie Whitlock ! Hope you are doing well. I am currently applying for a law firm's open day, but i wasn't too sure on how should I approach this question. Could you help me give me some guidance on how to approach this question, especially the second part of the question? Should I talk more about my experiences, or skills?

The question: Please explain why you are applying to Wedlake Bell's open day and why you would be a good candidate for the firm?

Hello!

I'm well, thank you - I hope you are too! Absolutely, I'm happy to share my thoughts on this question.

For that kind of question ("Why are you applying and why would you be a good candidate"), you'll want to balance both your motivation and your personal qualities/skills. A good structure could be:

1. Why you're applying

Make sure that you show you've done some research into Wedlake Bell, and mention what genuinely attracts you to the firm. For example, their practice areas, client base, firm culture, or training programme. Try to link this to your own interests and previous experiences (i.e. you studied the subject at university, or you worked in a similar setting before).

2. Why you'd be a good candidate

This is where you bring in your skills, experiences, and personal attributes that show why you would be a good fit for the firm. You can definitely refer to examples from university, part-time work, volunteering, or any legal experience. For example, this could be communication skills you developed at a legal clinic, or collaboration skills from working within a university society.

3. What you've learned or what you hope to gain

With any open day application, it's important to discuss why you'd like to attend the open day specifically. You can round off your answer by mentioning what you hope to learn from the open day - it shows enthusiasm and a growth mindset!

In short: I'd focus half on motivation, and half on what makes you a strong candidate - whilst making sure you are discussing examples or experiences rather than just listing the skills or traits.

I hope that helps, and best of luck with your application!

 

[tosin4774]

Anyone attended white and case Mergers and acquisition webinar today? Please please PM to share any notes or screenshot. I will really appreciate this.

Same. I would appreciate it

 

[stilltrying]

Could anyone provide insight into Weil or Mayer Brown VI - can help with HSF and Latham AC and also freshfields and Hogan test 1 and 2 as well as white and case VI

 

[Bbhu19]

Hey after finishing milbank test 1 did anyone receive a feedback report?

 

[futuretrainee101ac]

Thanks! Strengths: credibility, pride, critical reasoning. Weaknesses: self sufficient/individual impact. Wbu?

Strengths : active collaborator, growth mindset , efficiency
Weakness: tendency to be realistic?

 

[Shaky_Pete]

Anyone know if the RPC online assessment includes video interview questions?

 

[flower1]

Hello @Abbie Whitlock @Andrei Radu
This may seem ridiculous but I was wondering how can I actually keep track of ongoing things in the market, like inflation / interest rates, trade wars and geopolitics etc - I feel like there's so much information, and with things like interest rates which keep changing how am I supposed to track when it changes and other things in relation to this?

Thank you

 

[s123]

This is probably really silly but how likely is it to get through with a middle band numerical top band verbal and a score of 677 on the Simmons amberjack? I can never seem to get top band in the numericals and I find the SJTs so tricky

 

[user55998384]

any a&o ac invites???

 

[yumjuicebox]

DLA pfo post WG Super upset as my application answers were really good and I really like the firm, managed to get to VI 2 years ago. Shame that my chances are just gone from a meaningless test.

sorry to hear this, may i ask how you did on your WG (if you're comfortable sharing)?

 

[Lawlawland]

How long for CC to inform you whether you’ve passed Watson Glaser?

Pretty much Immediately. Or within an hour.

But it's important to note that passing WGT is NOT ENOUGH for CC. They have an internal threshold for percentile that we have to meet. Only then your application will be read.

 

[Lawlife5]

Pretty much Immediately. Or within an hour.

But it's important to note that passing WGT is NOT ENOUGH for CC. They have an internal threshold for percentile that we have to meet. Only then your application will be read.

So does that mean even if you passed the test last cycle and do not have to re-do the test again this cycle there is no guarantee that your app was even reviewed last cycle or will be reviewed this cycle?

 

[Lawlawland]

This is probably really silly but how likely is it to get through with a middle band numerical top band verbal and a score of 677 on the Simmons amberjack? I can never seem to get top band in the numericals and I find the SJTs so tricky

This is a really great score TBH. I know people who got AC at S&S with 645 and average scales

 

[Lawlawland]

So does that mean even if you passed the test last cycle and do not have to re-do the test again this cycle there is no guarantee that your app was even reviewed last cycle or will be reviewed this cycle?

I was informed that the WGT is for every cycle (that you can do it only once in a cycle). IDK if the last cycle scores would be carried over for this cycle.

And yes, there is no guarantee that they've read your application even if you've received the WGT pass mail.

 

[Lawlawland]

@Abbie Whitlock @Andrei Radu

I hope you're doing well ✨
I would like to have some suggestions on how to answer this question:

"Why do you want to be a trainee solicitor in a transactional focused firm?"

 

[DavidJC]

Hello @Abbie Whitlock @Andrei Radu
This may seem ridiculous but I was wondering how can I actually keep track of ongoing things in the market, like inflation / interest rates, trade wars and geopolitics etc - I feel like there's so much information, and with things like interest rates which keep changing how am I supposed to track when it changes and other things in relation to this?

Thank you

I'm not them but I personally use podcasts like FT News Briefing, Unhedged, and Non-Billable, and just read the Business news section of The Guardian (others recommend BBC and other outlets too) everyday and generally scroll LinkedIn for a shrot few minutes each day which helps me keep quite on top of stuff. It's kinda impossible to be on top of everything at all times but dedicating a few minutes a day really helps.

For interest rates specifically, the three main ones to keep track of are Bank of England (BoE), European Central Bank (ECB), and the Federal Reserve (Fed). Usually their relevant rate-setting committees (e.g. monetary policy committee for the BoE otherwise known as the MPC) meet approximately every 2-3 months which is when you'll get more commentary on interest rates and then an actual decision whether to hold, cut, or raise interest rates. For example, the BoE recently held interest rates at 4% at a meeting on Nov 6 with a 5-4 vote, and the deciding vote was cast by the Governor (Andrew Bailey) citing that he wanted to wait for the upcoming Autumn Budget (due Nov 26) and maintain the status quo until then before deciding on any further movement in interest rates. There's some level of depth available as to how and why interest rates are set (especially in relation to the Fed) but I think just knowing about interest rates and paying attention to them is a pretty good baseline level of knowledge already, particularly if you know how it affects borrowing which affects transactional activity and thus impacts law firms.