General Discussion Thread 2020-21

[M1999]

Those who’ve done the GDL/qualifying conversion courses, did you get a part time job in order to pay for the expenses? I am worried about juggling the full time course with training contract applications and a part time job in order to pay for it. Any advice would be appreciated!

 

[gg999]

Those who’ve done the GDL/qualifying conversion courses, did you get a part time job in order to pay for the expenses? I am worried about juggling the full time course with training contract applications and a part time job in order to pay for it. Any advice would be appreciated!

Hard but doable from what i've heard. I will also be juggling a part time job when I start my PGDL in September. I know it is going to be intense but hoping the income I earn alongside my studies keeps me motivated to keep on top of things.

 

[c1070]

Those who’ve done the GDL/qualifying conversion courses, did you get a part time job in order to pay for the expenses? I am worried about juggling the full time course with training contract applications and a part time job in order to pay for it. Any advice would be appreciated!

There’s a specific thread for this somewhere!

But I did the GDL last year whilst working part time - initially 24hrs a week in a bar then dropped to 16 a week in a shop. It was hard work but I came out with a commendation and managed to still socialise plenty and have a life etc. Generally speaking the GDL is just a LOT of work in terms of volume, so I’d advise doing part time work that doesn’t make you super tired and leaves brain power to do the work. You are only actually in uni a few days a week so if you’re organised it’s doable, but don’t be fooled it isn’t easy, I was pretty tired the majority of the year lol. A couple of others in my group did tutoring part time, which I think if you don’t necessarily need as big/stable an income would be a really good option.

Hope that is helpful and not off putting, if you can make sure you save your holidays for revision period/exams, and just be super organised!

On the bright side, it is SUCH a good way to demonstrate certain competencies in interviews and firms do tend to really respect that you’ve done it as they see how you are resilient/organised/can cope under pressure and still achieve results etc. You can make a very strong argument for those competencies if you’ve had to juggle the two!!

I’ll try and find the link to the other thread where a few more people shared their experiences

 

[Jen E C]

Just got a WG invite from Bakers! (Arghh the WG is literally my biggest hurdle in the VS app cycle I previously was embroiled in, but I'm definitely going to study it hard now!)

I wanted to ask, is the WG automatic for Baker McKenzie like it is for Hogan Lovells? Or did they sift through my app first and then offered the WG test( firms like NRF , Freshfields etc).

If I remember correctly from the open day, the test is not automatic, so congratulations! They also mentioned their WG bar is not as high as other firms, so that should work in your favour. Best of luck!

 

[dosblancos7]

If I remember correctly from the open day, the test is not automatic, so congratulations! They also mentioned their WG bar is not as high as other firms, so that should work in your favour. Best of luck!

Lovely to hear that- thanks

 

[Ar2016]

If asked in an interview about ways to finance an acquisition what MAIN methods should definitely be mentioned? in a nutshell, I have understood and keen on mentioning"
1. Debt (loans and bonds)
2. Equity (selling shares to raise capital + share swap +IPO)
3. Cash reserves

Question-- I am not sure if I want to go into LBO or earn-outs but thought i'd ask some of you on here what you thought?

 

[jan28]

If asked in an interview about ways to finance an acquisition what MAIN methods should definitely be mentioned? in a nutshell, I have understood and keen on mentioning"
1. Debt (loans and bonds)
2. Equity (selling shares to raise capital + share swap +IPO)
3. Cash reserves

Question-- I am not sure if I want to go into LBO or earn-outs but thought i'd ask some of you on here what you thought?

I guess it would depend on the type of acquisition. If you’re discussing a private equity deal then LBO would be something I’d talk about.

I wouldn’t think an earn-out agreement as a main source of financing an acquisition. Rather, my understanding is it is used to resolve disagreements in the pricing. So I’d talk about it in the context of pricing the deal rather than financing it.

 

[W]

I guess it would depend on the type of acquisition. If you’re discussing a private equity deal then LBO would be something I’d talk about.

I wouldn’t think an earn-out agreement as a main source of financing an acquisition. Rather, my understanding is it is used to resolve disagreements in the pricing. So I’d talk about it in the context of pricing the deal rather than financing it.

If asked in an interview about ways to finance an acquisition what MAIN methods should definitely be mentioned? in a nutshell, I have understood and keen on mentioning"
1. Debt (loans and bonds)
2. Equity (selling shares to raise capital + share swap +IPO)
3. Cash reserves

Question-- I am not sure if I want to go into LBO or earn-outs but thought i'd ask some of you on here what you thought?

An earn-out is simply an agreement between the buyer and seller where the buyer pays the seller additional compensation if the business reaches a certain performance target. So yeah like R19 says, talk about earn outs in the context of pricing the deal and/or negotiating the price of the deal.

LBO would be more appropriate to talk about in PE deals. Hope that helps.

 

[thirdtimelucky]

I have my first interview soon and I was wondering if there would be any commercial questions (I've already done the case study)?

 

[TCLA Community Assistant]

I have my first interview soon and I was wondering if there would be any commercial questions (I've already done the case study)?

which firm?

But yes, even if a personal interview you may get commercial questions, often related to your career motivation.

 

[Law2022]

Rejection from Eversheds today, god this process is tough but you have to keep on trying!

 

[Pallatablelawyer]

Rejection from Eversheds today, god this process is tough but you have to keep on trying!

same here.. i worked hard on that application and just like that .. not even past the first stage.

 

[Law2022]

same here.. i worked hard on that application and just like that .. not even past the first stage.

It’s such a disappointment I know. Just have to keep positive and remember anything worth having does not come easy. I’m wishing you luck in all your other applications. We will get there in our own time

 

[Dannys]

same here.. i worked hard on that application and just like that .. not even past the first stage.

Same here. Really thought was a strong application..

Onwards and upwards!

 

[NMD]

Hi everyone, I hope you’re all keeping well! I was wondering whether anyone had completed the Mishcon training contract assessment day and whether they could shed any light on the process? I would really appreciate any guidance! Thanks

 

[thirdtimelucky]

which firm?

But yes, even if a personal interview you may get commercial questions, often related to your career motivation.

Ah this makes sense. It's for Mishcon. All I've managed to find online is that they ask a lot about your chosen subject (which they asked about in the application) !

 

[Popal]

Same here. Really thought was a strong application..

Onwards and upwards!

Same here... hmmm definitely a trend here. I wonder whether they’ve reduced the number of direct training contracts available due to COVID. We can tell ourselves that anyway, if it makes us feel better

 

[Law2022]

Same here... hmmm definitely a trend here. I wonder whether they’ve reduced the number of direct training contracts available due to COVID. We can tell ourselves that anyway, if it makes us feel better

Could be a possibility as my app was really tailored to the firm. Haha COVID is a good excuse for it anyway

 

[dosblancos7]

To those doing Freshfields' VS, is it 3 weeks or has it been reduced to 1 due to the virtual nature?

 

[Andre]

Do you know if you are able to apply to Freshfields tomorrow or is it midnight tonight?