Hey! I had two ‘fast track’/‘first steps’ schemes at
Weil, Gotshal & Manges, and
CMS, respectively.
For Weil, there were 10 of us on the Fast Track scheme and 3 of us converted it. However, I know the scheme is really is challenging and can catch those who are unprepared off-guard.
For
CMS, I don’t know how many of us were on the scheme - maybe 50...but don’t hold me to that, I can’t remember! I don’t know how many of us got it, but the conversion rate seemed pretty high.
I can’t give hardcore facts and stats - but I’ll just say that if you do get on a first steps/fast track scheme, you’re in with a really good shot of getting a VS, compared with applying to the VS at the respective firm through the normal route.
The best way to prepare is like any other VS - however, try and leverage the experiences you have on the said schemes in your interview answers. Don’t do it ad nauseam but enough to demonstrate your development and that your interest in the career/firm has deepened.
Hope that helps!