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Aspiring Lawyers - Applications & General Advice
Applications Discussion
TCLA Vacation Scheme Applications Discussion Thread 2024-25
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<blockquote data-quote="Ram Sabaratnam" data-source="post: 188027" data-attributes="member: 36738"><p>Hiya [USER=36830]@emma.d[/USER] 😊</p><p></p><p>[USER=36740]@Amma Usman[/USER] and [USER=36777]@Andrei Radu[/USER] would certainly have valuable insights to share, but I’ve done a quick search and found a few resources that could help. I’ve hyperlinked them along with some points you might want to consider. I’ve skipped over common topics like ESG and AI since there’s already plenty out there on those. Here are some other areas worth reflecting on:</p><p></p><ol> <li data-xf-list-type="ol"><strong>Broader Economic Pressures</strong>: A recent <a href="https://www.lawsociety.org.uk/topics/business-management/partner-content/five-challenges-facing-the-legal-sector-in-2024" target="_blank">Law Society</a> article discusses how the volatile UK economy is affecting clients, leading to pressures on law firms to reduce fees and boost efficiency. It cites an industry survey showing that 44% of partners are facing client demands for fee reductions, and 46% report clients moving to less expensive competitors. It might be useful to think about how these economic pressures could affect firms over the next several years.<br /> <br /> </li> <li data-xf-list-type="ol"><strong>Professional Regulatory Pressures</strong>: An excellent recent piece in <a href="https://www.thetimes.com/uk/law/article/solicitors-watchdog-under-fire-for-regulatory-failures-qv56tzstg?utm_source=chatgpt.com" target="_blank"><em>The Times</em></a> covers how the Solicitors Regulation Authority is ramping up scrutiny, especially around fraud, money laundering, and firms' internal risk management. This focus stems from several high-profile financial crime cases across UK firms.<br /> <br /> </li> <li data-xf-list-type="ol"><strong>Competitive Market Pressures</strong>: The<a href="https://www.ft.com/content/541f8b38-d657-4542-a7de-8c92a113db28?utm_source=chatgpt.com" target="_blank"> <em>Financial Times</em></a> recently highlighted how UK firms' hourly rates and salaries are shifting, influenced not only by the growing presence of US firms but also by specialist boutiques. With clients becoming more price-sensitive, firms may need to navigate this carefully. More on this can be found<a href="https://www.ft.com/content/6cc103ec-b6ed-4145-84f9-cae0c9682098?utm_source=chatgpt.com" target="_blank"> here</a>.</li> </ol><p>If there’s anything else you’re exploring or would like to refine, just let me know - I’d be happy to help! 😄</p></blockquote><p></p>
[QUOTE="Ram Sabaratnam, post: 188027, member: 36738"] Hiya [USER=36830]@emma.d[/USER] 😊 [USER=36740]@Amma Usman[/USER] and [USER=36777]@Andrei Radu[/USER] would certainly have valuable insights to share, but I’ve done a quick search and found a few resources that could help. I’ve hyperlinked them along with some points you might want to consider. I’ve skipped over common topics like ESG and AI since there’s already plenty out there on those. Here are some other areas worth reflecting on: [LIST=1] [*][B]Broader Economic Pressures[/B]: A recent [URL='https://www.lawsociety.org.uk/topics/business-management/partner-content/five-challenges-facing-the-legal-sector-in-2024']Law Society[/URL] article discusses how the volatile UK economy is affecting clients, leading to pressures on law firms to reduce fees and boost efficiency. It cites an industry survey showing that 44% of partners are facing client demands for fee reductions, and 46% report clients moving to less expensive competitors. It might be useful to think about how these economic pressures could affect firms over the next several years. [*][B]Professional Regulatory Pressures[/B]: An excellent recent piece in [URL='https://www.thetimes.com/uk/law/article/solicitors-watchdog-under-fire-for-regulatory-failures-qv56tzstg?utm_source=chatgpt.com'][I]The Times[/I][/URL] covers how the Solicitors Regulation Authority is ramping up scrutiny, especially around fraud, money laundering, and firms' internal risk management. This focus stems from several high-profile financial crime cases across UK firms. [*][B]Competitive Market Pressures[/B]: The[URL='https://www.ft.com/content/541f8b38-d657-4542-a7de-8c92a113db28?utm_source=chatgpt.com'] [I]Financial Times[/I][/URL] recently highlighted how UK firms' hourly rates and salaries are shifting, influenced not only by the growing presence of US firms but also by specialist boutiques. With clients becoming more price-sensitive, firms may need to navigate this carefully. More on this can be found[URL='https://www.ft.com/content/6cc103ec-b6ed-4145-84f9-cae0c9682098?utm_source=chatgpt.com'] here[/URL]. [/LIST] If there’s anything else you’re exploring or would like to refine, just let me know - I’d be happy to help! 😄 [/QUOTE]
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TCLA Vacation Scheme Applications Discussion Thread 2024-25
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