TCLA Vacation Scheme Applications Discussion Thread 2021-22 (#1)

[elizabethjo123]

Thanks! Did Travers mention anything regarding what they are looking out for in the work experiences section?

I didn’t hear anything specific on this, but I think just focusing on skills gained that aren’t mentioned in cover letter are probably the way to go!

 

[ssolicitorz]

What do you guys think about legal & compliance roles in finance firms? Would you say it is easy to go from such a role and into a training contract?

 

[alice_28]

Does anyone know how long the ability tests for simmons take (1 verbal reasoning and 1 logical reasoning) and whether they are timed?

 

[Kubed]

Hey, does anyone know how a firm's strength in mid-market M&A bears in actual practice? What is the main difference between mid-market and high-end M&A? Any help would be v appreciated!!

Hey, so I asked this question to a partner at a vac scheme last year and got a response along these lines: not too many differences in terms of process aside from the value of the deal (there are specific boundaries that can be found by googling).

More subtly, in terms of the actual work, the partner found mid-market deals to be more varied and the higher-end ones to follow more of a predictable process. So he was able to be more 'creative' in the mid-market whereas high-end work tended to much more process-driven in his experience.

With high-end deals, he also commented that it was often a case of just getting the deal done with little disruption along the way as those clients tend to know what they're doing, whereas this may not always be the case with the mid-market.

I would caveat this by saying that the partner was speaking from his own experience, so may not always be true.

 

[h1]

Is there a term of phrase for when a law firm has the ability to work across different practice areas, on the same deal. Say project finance and capital markets, in order to complete a deal/ project.

cross-practice?

 

[charlottel]

Anyone have any tips for the Irwin Mitchell VI in terms of what types of questions their VI typically covers? not too experienced with VI's and havent done one for Irwin Mitchell so would definitely appreciate any tips/guidance/insight!

Have you taken it yet? If so, do you mind sharing some insight? If not, good luck!

 

[rose0904]

I have an AC on Thursday and I'm super nervous about the commercial awareness side of the whole thing, mainly because it was the reason I failed on an AC last year. Obviously I can't become 100% commercially aware within 4 days but does anyone have any advice about things I can do to try and improve over the next few days? Particularly any resources for current affairs etc that break things down more simply

 

[avaelle42]

I have an AC on Thursday and I'm super nervous about the commercial awareness side of the whole thing, mainly because it was the reason I failed on an AC last year. Obviously I can't become 100% commercially aware within 4 days but does anyone have any advice about things I can do to try and improve over the next few days? Particularly any resources for current affairs etc that break things down more simply

i find littlelaw rly helpful and if u can get ur hands on Christopher stoakes book and have a read its also super helpful - im going through it now, good luck !

 

[Commerciallaw]

I have an AC on Thursday and I'm super nervous about the commercial awareness side of the whole thing, mainly because it was the reason I failed on an AC last year. Obviously I can't become 100% commercially aware within 4 days but does anyone have any advice about things I can do to try and improve over the next few days? Particularly any resources for current affairs etc that break things down more simply

I am not sure if you know these but for more general commercial awareness I really like the corporate conduit - https://corporate-conduit.com/
Also, the things I like using are Watson's daily - I think I watson's yearly is coming out. Also, comaware https://comaware.net/ It provides short concise weekly summaries.

More specifically - to gain more legal awareness just see what law firms are writing about in their thought leadership. These are the things that I do and find helpful - but I haven't been tested yet ( i have my first AC's this week) so take my recommendations with a massive pinch of salt !

 

[rose0904]

i find littlelaw rly helpful and if u can get ur hands on Christopher stoakes book and have a read its also super helpful - im going through it now, good luck !

I am not sure if you know these but for more general commercial awareness I really like the corporate conduit - https://corporate-conduit.com/
Also, the things I like using are Watson's daily - I think I watson's yearly is coming out. Also, comaware https://comaware.net/ It provides short concise weekly summaries.

More specifically - to gain more legal awareness just see what law firms are writing about in their thought leadership. These are the things that I do and find helpful - but I haven't been tested yet ( i have my first AC's this week) so take my recommendations with a massive pinch of salt !

Thank you both so much, I'll have a look at those resources asap!

 

[SCN]

I have an AC on Thursday and I'm super nervous about the commercial awareness side of the whole thing, mainly because it was the reason I failed on an AC last year. Obviously I can't become 100% commercially aware within 4 days but does anyone have any advice about things I can do to try and improve over the next few days? Particularly any resources for current affairs etc that break things down more simply

I would break it down into general awareness of affairs, news, what's going on. But also your understanding of business, how they make money, what they're concerned about. Too many people think if they digest the FT they're 'commercially aware' but it's going a bit deeper

 

[rose0904]

I would break it down into general awareness of affairs, news, what's going on. But also your understanding of business, how they make money, what they're concerned about. Too many people if they digest the FT they're 'commercially aware' but it's going a bit deeper

Thank you for the advice! Think sometimes it can all be a bit overwhelming

 

[SR99]

If anyone has any advice for HSF AC it would be much appreciated Especially anyone who recently did the spring AC with the new format of interviews!

 

[Jessica Booker]

What do you guys think about legal & compliance roles in finance firms? Would you say it is easy to go from such a role and into a training contract?

I don’t think it makes it easy, but I think it gives you a range of transferable skills and knowledge to leverage in the recruitment process.

 

[CF12345]

What are good questions to ask trainees at a trainee meet and greet in an assessment centre?

 

[lawful_neutral216]

I have an AC on Thursday and I'm super nervous about the commercial awareness side of the whole thing, mainly because it was the reason I failed on an AC last year. Obviously I can't become 100% commercially aware within 4 days but does anyone have any advice about things I can do to try and improve over the next few days? Particularly any resources for current affairs etc that break things down more simply

Corporate Conduit is pretty good for sure! They also have this function where you can study and learn the basics of M&A through flashcards which I've found super helpful for technical terms

 

[Amanpreet Kaur]

Hey, so I asked this question to a partner at a vac scheme last year and got a response along these lines: not too many differences in terms of process aside from the value of the deal (there are specific boundaries that can be found by googling).

More subtly, in terms of the actual work, the partner found mid-market deals to be more varied and the higher-end ones to follow more of a predictable process. So he was able to be more 'creative' in the mid-market whereas high-end work tended to much more process-driven in his experience.

With high-end deals, he also commented that it was often a case of just getting the deal done with little disruption along the way as those clients tend to know what they're doing, whereas this may not always be the case with the mid-market.

I would caveat this by saying that the partner was speaking from his own experience, so may not always be true.

Thank you so much!! I really trawled google and couldn't find anything, this is extremely helpful

 

[layk]

Does anyone know how long it takes for Clyde & Co to get back to you after the VI?

 

[CorporateLaw101]

Anyone else having problems with cv mail? Was going to apply to travers but it seems like that won't be happening...

 

[Jessica Booker]

What are good questions to ask trainees at a trainee meet and greet in an assessment centre?

Focus on what you want to learn more about the firm that cannot be found out from their website/brochure but that trainees can answer - this is typically more around their personal experiences as a trainee, but also their opinions of the firm.