I mean what's the point of the vacation scheme if everyone gets the TC?
If everyone got the TC it would be a big waste of time and money to throw on the VS, since vac schemers really don't get much valuable training or work done on the scheme itself. The benefit of advertising to prospective candidates is marginal since there are so many candidates to choose from anyways.
MC firms have started to realise that and slowly reduced the conversion rates on vac schemes as a result.
Remember vacation schemes serve as a two-way system. Many candidates won’t have legal work experience. In theory, one could complete a vacation scheme, hate the work/culture, and choose not to pursue the career. This is partly why the schemes exist.
For the average person, it’s incredibly difficult to secure even one vacation scheme. As such, I personally believe the conversion rate should be upwards of at least 80%.
You’ve put in all the work to pass the written application, pass the likely test, pass the potential VI, and then pass the AC(s). Numerous people (GR, associates, partners) prior to the VS have seen your ability, believed in you, and thought that you have what it takes.
On that basis, it is completely reasonable that most people on a VS should be offered the TC.
If you’ve made it onto a VS, then you have proven that you have what it takes to be a trainee. With this in mind, most feedback you receive after failing to convert a VS is arbitrary.
The issue is not to do with one’s ability. The issue is that some law firms unnecessarily and unreasonably take on too many vac schemers for no real gain of their own.