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Aspiring Lawyers - Applications & General Advice
My Training Contract Journey
a confused law student's TC journey :)
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<blockquote data-quote="RANDOTRON" data-source="post: 144282" data-attributes="member: 16724"><p>Commercial awareness is a very broad term, so it depends on how you define it. How I define it is a way of thinking and understanding business and stuff happening around the world. In this sense, I did use it in my tasks and in conversation during my VS – I also didn't do a corporate seat. But I want to caveat that every firm is different, so my VS experience might be different to yours.</p><p></p><p>All of my VS tasks were <em>very</em> straightforward (eg, update this presentation, proofread a contract, researching an upcoming legislation) so they mostly involve other skills like research, writing, presentation, etc. But commercial awareness was useful in terms of understanding the context and importance of the task I was doing. I wasn't asked to recite any news, and was only asked once to read a piece of news and write a very short summary for an internal publication.</p><p></p><p>As for conversations, I didn't bring up any FT articles or news. My conversation topics was a mixed bag ranging from their thoughts on and experience at the firm/their department to topics completely unrelated to work, like clothing brands. I do frequently ask about their current work, and commercial awareness does helps in enabling me to ask intelligent follow-up questions. For instance, a lawyer I spoke to was talking about some of the issues they were facing in their current project, and I followed-up with questions about ways to resolve those issues. I mostly spoke with people within my assigned department – I did speak to people outside of my department but only at social events or where I was introduced. I'd suggest stick within your department first and only if you have time as Jessica suggested in another forum. At the end of the day though, the key is to let the conversation naturally flow (silence is also a natural part of a conversation).</p><p></p><p>Commercial awareness was important during my in-tray exercise and interviewed becauseI was tested on it in terms of my way of thinking/understanding.</p><p></p><p>Overall, I'd say it certainly won't hurt to keep up to date on the news and build your knowledge. Knowing finance will be useful for any department just because it touches everything. I wouldn't overthink this – you're doing really good prep (certainly more than what I did), so just keep doing what you're doing, be yourself, have fun and crush it!</p><p></p><p>Do keep in touch via this thread – I'd love to hear about your VS experience!</p></blockquote><p></p>
[QUOTE="RANDOTRON, post: 144282, member: 16724"] Commercial awareness is a very broad term, so it depends on how you define it. How I define it is a way of thinking and understanding business and stuff happening around the world. In this sense, I did use it in my tasks and in conversation during my VS – I also didn't do a corporate seat. But I want to caveat that every firm is different, so my VS experience might be different to yours. All of my VS tasks were [I]very[/I] straightforward (eg, update this presentation, proofread a contract, researching an upcoming legislation) so they mostly involve other skills like research, writing, presentation, etc. But commercial awareness was useful in terms of understanding the context and importance of the task I was doing. I wasn't asked to recite any news, and was only asked once to read a piece of news and write a very short summary for an internal publication. As for conversations, I didn't bring up any FT articles or news. My conversation topics was a mixed bag ranging from their thoughts on and experience at the firm/their department to topics completely unrelated to work, like clothing brands. I do frequently ask about their current work, and commercial awareness does helps in enabling me to ask intelligent follow-up questions. For instance, a lawyer I spoke to was talking about some of the issues they were facing in their current project, and I followed-up with questions about ways to resolve those issues. I mostly spoke with people within my assigned department – I did speak to people outside of my department but only at social events or where I was introduced. I'd suggest stick within your department first and only if you have time as Jessica suggested in another forum. At the end of the day though, the key is to let the conversation naturally flow (silence is also a natural part of a conversation). Commercial awareness was important during my in-tray exercise and interviewed becauseI was tested on it in terms of my way of thinking/understanding. Overall, I'd say it certainly won't hurt to keep up to date on the news and build your knowledge. Knowing finance will be useful for any department just because it touches everything. I wouldn't overthink this – you're doing really good prep (certainly more than what I did), so just keep doing what you're doing, be yourself, have fun and crush it! Do keep in touch via this thread – I'd love to hear about your VS experience! [/QUOTE]
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