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Aspiring Lawyers - Applications & General Advice
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I am an Associate at a Global Law Firm. Ask me Anything!
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<blockquote data-quote="LM" data-source="post: 48537" data-attributes="member: 9535"><p>Thanks, [USER=9603]@VLV[/USER] for the interesting question. After reading your queries, I believe the most helpful response I can provide comes under the heading of "the role of a junior associate in a city law firm".</p><p></p><p>Overall, the role of a junior associate in a city law firm is to first and foremost, provide value add to the transaction and do the majority of the heavy lifting. By this I mean they are supposed to act as the main point of contact for the various other departments that are providing input during the due diligence process. While they may be involved in helping draft the transaction documentation, running signing and completion checklists, running due diligence reports, leading client discussions, etc. </p><p></p><p>Regarding being "commercially aware", I don't think there is an expectation (as such) to be able to read a company's accounts and provide comments! I think what is more important, in regard to being commercially aware, is being able to spot trends that impact the Firm's/department's client base. For example, I would expect someone of your level to be aware of the National Security and Investment Bill and how this would impact a transaction. A knowledge of these large-scale market trends that provide opportunities for global firms to provide advice to their clients is what city firms are looking for in their recruits. I can put your mind at ease and say I have never been tasked with reviewing a company's accounts in preparation for a kick-off call. Also, there is no real expectation that you will get everything right the first time. Drafting is partially down to the person reviewing so there will always be amendments and changes due to personal preference. Overall, it sounds like you have as much experience as I have, maybe on a slightly smaller scale in terms of deal size and the fact your deals (I presume) are national and not global.</p><p></p><p>My main takeaway for you is that you should not downplay your abilities, especially when it comes to interviews. It sounds like you have great experience and your uncertainties are getting in the way of you making the jump. All I can suggest is to give it a go ... what's the worst thing that could happen?</p></blockquote><p></p>
[QUOTE="LM, post: 48537, member: 9535"] Thanks, [USER=9603]@VLV[/USER] for the interesting question. After reading your queries, I believe the most helpful response I can provide comes under the heading of "the role of a junior associate in a city law firm". Overall, the role of a junior associate in a city law firm is to first and foremost, provide value add to the transaction and do the majority of the heavy lifting. By this I mean they are supposed to act as the main point of contact for the various other departments that are providing input during the due diligence process. While they may be involved in helping draft the transaction documentation, running signing and completion checklists, running due diligence reports, leading client discussions, etc. Regarding being "commercially aware", I don't think there is an expectation (as such) to be able to read a company's accounts and provide comments! I think what is more important, in regard to being commercially aware, is being able to spot trends that impact the Firm's/department's client base. For example, I would expect someone of your level to be aware of the National Security and Investment Bill and how this would impact a transaction. A knowledge of these large-scale market trends that provide opportunities for global firms to provide advice to their clients is what city firms are looking for in their recruits. I can put your mind at ease and say I have never been tasked with reviewing a company's accounts in preparation for a kick-off call. Also, there is no real expectation that you will get everything right the first time. Drafting is partially down to the person reviewing so there will always be amendments and changes due to personal preference. Overall, it sounds like you have as much experience as I have, maybe on a slightly smaller scale in terms of deal size and the fact your deals (I presume) are national and not global. My main takeaway for you is that you should not downplay your abilities, especially when it comes to interviews. It sounds like you have great experience and your uncertainties are getting in the way of you making the jump. All I can suggest is to give it a go ... what's the worst thing that could happen? [/QUOTE]
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