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TCLA Vacation Scheme Applications Discussion Thread 2025-26

D

Deleted member 38167

Guest
Does anyone know if DLA Piper’s Watsgon Glaser test is sent to all applicants or only those who are progressed past the application stage?
So the process has changed since last year (so I can only comment on last year) but it was only sent to those applicants who progressed past the application stage - I had a friend fail to even get the WG test after applying
 

BobThebIlly

Valued Member
Premium Member
Dec 6, 2024
104
133
Hi everyone,

I’m practising the Freshfields preparation materials, including the slider-style SJT questions, and I’m a bit unsure about how to approach them. For example, one question asks: “My best work is when I…” with one extreme being “working with others” and the other being “working on my own”.

In truth, my best work has usually been in group projects, so I put the slider around 80% towards the “working with others” side. Is this the right approach? I never pass these tests and I’m not sure how people get through them. Any advice would be appreciated!
 

xMontmorency

Star Member
Dec 24, 2023
25
81
Hi everyone,

I’m practising the Freshfields preparation materials, including the slider-style SJT questions, and I’m a bit unsure about how to approach them. For example, one question asks: “My best work is when I…” with one extreme being “working with others” and the other being “working on my own”.

In truth, my best work has usually been in group projects, so I put the slider around 80% towards the “working with others” side. Is this the right approach? I never pass these tests and I’m not sure how people get through them. Any advice would be appreciated!
Both are good answers. Teamwork and being able to work independently are both important.

Trying to reverse engineer what you think the grad rec team have decided is the 'correct' answer just isn't going to work. Put what you think works best for you.

IMO this just highlights the problems with SJTs. Personality traits are not an 'either' / 'or' that can be revealed with a sliding scale.
 

CharlesT47

Star Member
Gold Member
Premium Member
Jun 30, 2025
47
21
@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.
 
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Afuturetrainee

Esteemed Member
Mar 11, 2025
78
71
Hi @Andrei Radu How would you go about answering the following questions, as to my understanding there is a lot of overlap of why Akin across both?

1. What motivates you to pursue a career as a commercial solicitor, and why do you see Akin as the right place to begin that journey? (250)
2. What are you looking for in your legal career, and how do you see a firm like Akin helping you achieve those goals? (250)
For the first part, discuss their awards and accomplishments. For the second part, highlight their personal development efforts, including training, pro bono work, and overall growth.

Then, in the practice area questions, mention the deals they worked on in the areas that interest you.

This is how I did mine,, not an official guidance.

Good luck!
 
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Reactions: tom-sawyer

xMontmorency

Star Member
Dec 24, 2023
25
81
@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.
 

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