Hi everyone. I have a quarter final interview for the aspiring solicitors competition this week. Does anyone have any tips on how to prepare for it? And if anyone has already done it, how did you find it?
Hey!
I haven't previously competed in the Aspiring Solicitors competition, however, I did compete in BIUCAC last year so I have included some of my general tips for preparing for commercial awareness competitions below. Some of the advice relates to later stages in the competition, but I hope they assist! Best of luck with the quarter final interview
Know your content inside and out
Don’t just memorise terms or concepts - make sure you truly understand them and how they apply to law firms and businesses. Read the news daily in whatever format suits you best (for me, this was a mix of the Financial Times, LittleLaw, and BBC News). Highlight any sectors or topics you’re particularly unsure about and read about them in detail in advance. Before the competition, ensure you can confidently explain key concepts and how they would apply to a business setting, as they may ask you follow-up questions. It might be worth having your friends quiz you!
Master the basics
A strong grasp of the fundamentals is essential. I found it helpful to use Investopedia and the Finimize glossary to review terms I wasn’t confident in. Whenever I came across an unfamiliar word, I’d note it down and revisit it later to make sure it stuck. Focus on understanding core concepts such as bonds, equity, securitisation, and derivatives - and keep an eye on topical versions of these (for example, green bonds came up in BIUCAC!).
Understand law firms as businesses
Commercial awareness in the legal context isn’t just about knowing the news - it’s about understanding how law firms operate and how they bring value to clients. I’d make sure you understand:
- How law firms make money and attract clients, and
- The business climate and challenges faced by their clients
When reading a commercial news story, I always found it helpful to think about where a law firm might be instructed and which practice areas would be involved. This dual perspective shows that you understand both the legal and commercial dimensions.
Stay up to date
Make sure you are engaging with the news regularly - ideally daily. If reading articles isn’t your style, you could try podcasts such as FT News Briefing, BBC Business Daily, or Watson’s Daily for quick, accessible updates. You don’t need to know everything, but aim for a broad understanding across industries (unless you are told the focus in advance).
Have a go
If you’re unsure about a question, don’t panic - give it a go! It’s better to say something like “I’m not entirely sure, but here’s how I’d approach it…” and then explain your reasoning and thought process. This shows confidence and analytical thinking, which is often valued quite highly.
Additionally, if an assessor challenges your opinion, don’t immediately change your mind. Talk them through your thought process and how you arrived at your conclusion, and if they do bring up a point you had not considered, be open to altering your answer then.
Analyse articles and sectors effectively
If you’re given an article or sector in advance, ask yourself:
- Why is this happening?
- Why does it matter?
- What does this mean for law firms and their clients?
Look into the key opportunities and challenges in the given sector, and consider how law firms might help clients navigate them. Think about how law firms add value - for instance, through advising on regulatory change, managing risk, or facilitating deals.
Group Tasks
If you are assigned a group task, I would remember that often they are not only assessing your legal knowledge, but also how you work with others. It can feel very tempting in such a high-pressure environment to speak as much as you can; however, I would aim to be neither the quietest nor the loudest in the room! Try to build on your teammates' ideas and encourage them to share their opinions on topics you have brought up. I would also try to summarise ideas as you go along, which shows that you are listening and can help track progress.
One thing that especially helped when I was competing was to play to each team member's strengths. For example, we had to complete a negotiation, and this involved drafting the heads of terms and negotiating them with another team. As a team, we divided this up to our strengths - for example, I led the drafting, one team member led the research, and the other team member had experience negotiating, so he gave us advice on best practices. This was the best use of our time, and it meant that every team member was contributing in some way.
