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TCLA Vacation Scheme Applications Discussion Thread 2025-26

gao8899

Standard Member
Nov 26, 2025
5
4
On Sidley's market position and strengths:
  • Sidley is a Top 10 global law firm by revenue (sitting around the $3.5bn mark), is more international than most US rivals (with 20+ offices), with a large both New York and London presence (currently the 17th by London-generated revenue, having surpassed the $225m mark).
  • The firm is known for its high-value transactional work, and is therefore uncontroversially deemed to be part of the newly formed group of "global elite" law firms (a group of highly-profitable firms with strong offerings in both London and New York, who are expected to increased their hold over the transatlantic deal corridor over the coming years).
  • While sitting just bellow the traditional "Vault 10" group of firms (a US publication ranking the biggest US firms by prestige based on associate reviews every year) in terms of historical reputation and also profitability (most V10 firms are sitting around the $7 million average PEP figure, while Sidley's PEP is approx $5 million), the firm could be compared with the likes of Milbank and Paul Hastings in terms of its embrace of private capital work and its huge recent growth to catch up with the historical New York elite.
  • Speaking of an embrace of private capital, while Sidley had historically been very strong in traditional banking, securitisation, and financial regulatory work, but, as this type of work took a hit post 2008, the firm has shifted to servicing the booming PE industry.
  • In London, this is reflected in their practice area strengths, as the firm has top tier teams for PE Funds work and PE buyouts, and more recently has hired one of the best leveraged finance teams in the market from Latham. This move was very talked about last year as it is thought to demonstrate (i) Sidley's growing ambition in London; and (ii) its increasing clout, having been able to hire rainmaking partners from Latham, a larger and more profitable firm, that has traditionally been seen as more dominant in the private capital space.
  • Finally, in London Sidley is also known for its regulatory work, being particularly strong in financial services and life sciences - a feature that differentiates it from most of its US rivals. This is apparently also helping Sidley secure work on PE deals that come with particular regulatory complexity.
Thank you so much @Andrei Radu this is so helpful!!
Would you suggest I read up on any specific topic/developments as well?
Thanks again!
 

CharlesT47

Distinguished Member
Gold Member
Premium Member
Jun 30, 2025
59
36
Hi @Andrei Radu Was hoping to hear your perspective.
Right now, I'm trying to write about the UK's recent relaxing of the capital rules for banks.
I'm struggling though to get deep into the analysis outside of the obvious increase in dealmaking. (I.e PE/ M&A transactions rely on a lot of leverage. Now that banks have more capital to invest with, these two areas will likely boom).
How can I then flesh this out/ have more commercial depth?
Is it fair to say that certain practice areas will benefit more/ less? Will drug research/ life sciences see additional increases in activity because of how capital intensive this area is?
Alternatively, is this perhaps not the best topic to use for a commercial issue application answer? I just wanted to hear your opinion, since I remember you saying how your answer was on a similarly broad commercial topic like how low interest rates affect deals.
 
Reactions: Andrei Radu

nansies

Standard Member
Nov 25, 2025
5
1
Are graduates allowed to apply to Sullivan & Cromwell's vac schemes? I was about to submit my app when I read the following on their website:

"S&C offers two-week placement schemes in the spring and summer for students interested in joining the Firm as a trainee. [...] We will accept applications for our 2026 spring and summer vacation schemes from penultimate-year law students and final-year non-law students, as well as those studying for postgraduate degrees, from 1 October 2025 through 5 December 2025."

They seem to recruit mostly from vac schemes, so do graduates have an almost zero chance of getting a TC offer from S&C?
 

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