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I did this method last year and got ACs for every vac scheme I applied for but none of the direct TCs. Ttake from that what you will but I think you are massively disadvantaged going through the direct route for just about every firm except the magic circle (who are ridiculously hard to get through for so not exactly a safe bet). This year I'm taking the L and applying for vac schemes too and will just have to use all my annual leave up on interviews/schemes if I get them.

Also on that point, love firms that harp on about social mobility but only hire through vac schemes