This has been exactly what I have been pondering about throughout the past few weeks. It's disheartening, and because I am also at a highly-academic university, keeping up with both demands has been impossible. I've been having one meal a day plus vending machine snacks to sustain myself haha. It feels like exam season every term.
To add to that, every firm is adding to their process and making the whole application harder with VIs, more OTs etc. I was talking with a partner from
Ashurst at an event and he said all he had to do back in the day was ring up the firm - he got a place on their interviews and their vac scheme the next day haha. Oh the good old times.
Best of luck, I really hope we both get something out of this application season!