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TCLA Vacation Scheme Applications Discussion Thread 2025-26

msclm

Esteemed Member
  • Oct 22, 2024
    82
    296
    What about Sidley? Note that I don't mean WVS

    Their grad recruitment team is small and will be focusing on the wvs now. I can’t imagine they’ll hold interviews in December, while the wvs is going on and both HR and partners are busy. For spring or summer vacs, I would say January is more likely to have updates
     

    ashwright

    Legendary Member
    Gold Member
    Premium Member
  • Jul 10, 2023
    236
    474
    Hi @badmintonflyinginsect I think the effects you mentioned are natural consequences of increased government borrowing. Increased borrowing firstly means an increase in demand for government bonds, which, in the absence of a proportionate increase in supply, results in a decrease in bond price, which leads to an increase in yields. Secondly, increased government borrowing comes with increased defaulting risk, which bond markets price by demanding higher yields as compensation.

    On the general interest rate side, an increase of government borrowing can firstly lead to increased government spending, which can be inflationary and thus lead to central banks increasing interest rates. Secondly, rising government borrowing can theoretically have a "crowding out" effect: because of its size, it can absorb a large portion of the economy's lending capacity, potentially leading to higher interest rates across the entire economy, including for private sector businesses and individuals.

    Nonetheless, while these consequences follow from an economic theory perspective if you look at this point of fiscal policy in isolation, I do not actullay expect them to end up materialising in practice (at least in a very strong and impactful sense). Firstly, on the yields side: modern governments rise and fall on the reaction of bond markets, as seen with Liz Truss' disastrous mini budget, and this Labour government is very unlikely to take the risk of a similar situation occurring. If there is any wind of a negative outlook as to the country's defaulting risk, this will likely result in further tax rises. Secondly, on the interest rate side, I would not expect this crowding out effect to occur, simply because the UK government has access to immense pools of international public and private capital; and following this post-Covid inflationary period, I think government spending is something that will be a lot more tightly controlled.
    Hey Andrei, I'm not OP, but I wanted to say thank you for your reply. Really appreciate your analysis; it really helps us understand these stories in terms of the bigger picture.

    I'm curious about how you learned about economic theory - it's always fascinated yet bewildered me! May I ask whether you studied economics at IB/A Level? I didn't & so my economics diet is purely reading snippets from the FT every morning (and listening to their podcast). As a result, I feel that I have a rather disjointed and superficial understanding of current affairs.

    I think that learning about some economic theory would help me understand the bigger trends embodied by such stories, so I'm thinking of picking up a traditional textbook to help me. If you have any resource recommendations to help develop a better understanding of these macro concepts & economic theory, I'd be extremely grateful.

    This is a little off-topic, so it might be better suited for a PM - let me know & I can follow up with you there. Thank you!
     

    badmintonflyinginsect

    Legendary Member
    Premium Member
    Jan 26, 2023
    142
    124
    Hi @badmintonflyinginsect I think the effects you mentioned are natural consequences of increased government borrowing. Increased borrowing firstly means an increase in demand for government bonds, which, in the absence of a proportionate increase in supply, results in a decrease in bond price, which leads to an increase in yields. Secondly, increased government borrowing comes with increased defaulting risk, which bond markets price by demanding higher yields as compensation.

    On the general interest rate side, an increase of government borrowing can firstly lead to increased government spending, which can be inflationary and thus lead to central banks increasing interest rates. Secondly, rising government borrowing can theoretically have a "crowding out" effect: because of its size, it can absorb a large portion of the economy's lending capacity, potentially leading to higher interest rates across the entire economy, including for private sector businesses and individuals.

    Nonetheless, while these consequences follow from an economic theory perspective if you look at this point of fiscal policy in isolation, I do not actullay expect them to end up materialising in practice (at least in a very strong and impactful sense). Firstly, on the yields side: modern governments rise and fall on the reaction of bond markets, as seen with Liz Truss' disastrous mini budget, and this Labour government is very unlikely to take the risk of a similar situation occurring. If there is any wind of a negative outlook as to the country's defaulting risk, this will likely result in further tax rises. Secondly, on the interest rate side, I would not expect this crowding out effect to occur, simply because the UK government has access to immense pools of international public and private capital; and following this post-Covid inflationary period, I think government spending is something that will be a lot more tightly controlled.
    Thanks so much for your response! Do you reckon we're going to see a marginal improvement in deal activity/exits because of this?
     

    Harvey Specter

    Legendary Member
    Jul 4, 2024
    770
    2,821
    For those applying to Skadden, how do we write a detailed answer for the second question ‘if you could choose a career other than the law, what would you choose?’ Is the expectation to explain why that career, our skills or competencies, how they align back to law and/or Skadden, etc? Just seems very confusing hence I left it till the end. I am able to think of a few other careers, but should they be similar to commercial law or something different? Surely I can just say I would choose X career and call it a day but it is asking for 250 words lmao. Any help would be appreciated! Also if @Andrei Radu or @Abbie Whitlock could help that would be great!​
     
    Reactions: Abbie Whitlock

    Abbie Whitlock

    Administrator
    Staff member
    Gold Member
    Premium Member
    Sep 11, 2025
    640
    588
    is it worth applying to FF is ac offers r being sent out?
    Hey!

    Whilst it is an advantage to apply early for a rolling deadline, I would still encourage you to apply even if people have been progressed to the next stages already! Most firms will review every application that is submitted before the deadline (and will receive the majority of applications in the last few days), and so the most important factor is that you submit a strong and tailored application that you are confident with!

    If you feel you can do that before the deadline, I absolutely would apply :)
     
    • Like
    Reactions: Lawlawland

    Abbie Whitlock

    Administrator
    Staff member
    Gold Member
    Premium Member
    Sep 11, 2025
    640
    588
    Just received an LLM offer from King's College London; a little bit of hope after PFOs...
    Huge congratulations!!! That's amazing and I hope you celebrate well :)

    Celebration Yes GIF by Chippy the Dog
     

    Abbie Whitlock

    Administrator
    Staff member
    Gold Member
    Premium Member
    Sep 11, 2025
    640
    588
    For those applying to Skadden, how do we write a detailed answer for the second question ‘if you could choose a career other than the law, what would you choose?’ Is the expectation to explain why that career, our skills or competencies, how they align back to law and/or Skadden, etc? Just seems very confusing hence I left it till the end. I am able to think of a few other careers, but should they be similar to commercial law or something different? Surely I can just say I would choose X career and call it a day but it is asking for 250 words lmao. Any help would be appreciated! Also if @Andrei Radu or @Abbie Whitlock could help that would be great!​
    Hi!

    This question definitely feels confusing at first, but it's actually more about understanding you rather than testing your commitment to law. Skadden wants to see how you think, what motivates you outside the standard "commercial law" narrative, and whether you can give a thoughtful and well-rounded explanation of your interests.

    A strong 250-word answer will usually cover three main things:

    1. Pick a genuine alternative career

    It doesn't need to be similar to commercial law, but it can be if that is your genuine answer. However, picking something different often works as it gives them a clear picture of you as a person. As long as it is credible and you can back it up with reasons for why you would choose it, any career path should be fine!

    2. Explain why that career appeals to you

    The main focus should be on what draws you to it - this could be problem-solving, strategy, creativity, leadership, analytical thinking, working with people, etc. This should show what drives you and makes your answer authentic and personal. Discuss the elements of the role that you would like and why your skills would be well suited for it.

    3. Indirectly reveal strengths and transferable skills

    You don't need to link it back to Skadden explicitly, but you can highlight the underlying qualities that you'd bring to any career (including a career in commercial law).

    For example, if you choose journalism, this could include curiosity, communication, and distilling complex information - all traits that are very transferable to the role of a trainee solicitor. This allows Skadden to infer the traits you'd bring as a trainee without you hammering the point home.

    The two main things that I would avoid in your answer are:
    • Don't say a career that undermines your motivation for law (e.g. "I'd be happier doing anything else" or "I'm really open minded to lots of career paths and haven't decided", etc.)
    • Don't force a cliche "this is basically law but with a different name" answer - they want to see what your genuine interests and motivations are!

    250 words are there to let you develop your reasoning and personality, not to trip you up! As long as you write a genuine answer and back it up with real motivations, you can write a really strong answer. I hope that helps, and best of luck! :)
     

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