Damn I hope not bcs I just submitted and there's no clear indication of when I'll be getting sent the test lolDo we have to complete the NRF OA before the deadline on the 7th too?
Damn I hope not bcs I just submitted and there's no clear indication of when I'll be getting sent the test lolDo we have to complete the NRF OA before the deadline on the 7th too?
i have applied for solicitor apprenticeships, first year schemes and finally vac schemes this year. i think I have sent off over 60 applications throughout, got to one AC this year and was successful at macfarlanes. the three days before my AC i recieved rejections from S&M, Jones Day, and A&O. reflecting on it all, id say my applications the past two years deserved to get rejected but dont forget just because you get rejected doesnt indicate ur strength as a candidate. its a two way thing as well, you could write the same quality app for two firms and get accepted and rejected by each, because it also depends on general fit.Just to get a feel for things - if anyone has any previous experience: usually how many rejections can one expect for VS/TC applications per cycle? I think I need to reset my expectations lol
Edit: by rejections, I mean pre-AC rejections
congratulations on Macfarlanes!! That is very true - sometimes I don't know whether to apply to more just to "up the chances" or to keep the numbers low because of "quality", I guess both could go both waysi have applied for solicitor apprenticeships, first year schemes and finally vac schemes this year. i think I have sent off over 60 applications throughout, got to one AC this year and was successful at macfarlanes. the three days before my AC i recieved rejections from S&M, Jones Day, and A&O. reflecting on it all, id say my applications the past two years deserved to get rejected but dont forget just because you get rejected doesnt indicate ur strength as a candidate. its a two way thing as well, you could write the same quality app for two firms and get accepted and rejected by each, because it also depends on general fit.
very wise words! though it's definitely hard not to focus on rejections ahha - I've not applied to too many so it hurts to watch your chances and list dwindle down one by one 😂 I'll keep that in mind though, thank you!All I can say is don't focus on rejections. If you progress to further stages in any of your apps, focus on making it further. It's honestly a big, big luck to receive one interview these days. Of course, it also depends on your educational and professional background, but even for the brightest minds from the best universities, it's still quite hard.
Hi @flower1 that is a really good question that I also used to struggle with. Firstly, I will clarify that generally you will not be expected to know as much about finance as you will be expected to know about M&A, so you should not worry a lot simply because your knowledge of finance seems more basic when contrasting it with your knowledge of M&A. Secondly, what you need to know about finance will be highly depended on the firms you are interviewing with - the types of finance matters a firm specialises in should significantly influence the scope of your research while you prepare.Hello @Andrei Radu @Abbie Whitlock
I was wondering in terms of pure concepts - what should we know about regarding banking and finance? I know for M&A for example - to know about public/private, deal structure etc but I'm struggling with regard to banking and finance. And also, where to find out about this?
Thank you
I agree - but I learned how to detach... I mean, if a rejection is too painful, I allow myself one day to reflect and cry, and then I move on! "You can't always get what you want, but if you try sometime, you'll find you get what you need" 😀very wise words! though it's definitely hard not to focus on rejections ahha - I've not applied to too many so it hurts to watch your chances and list dwindle down one by one 😂 I'll keep that in mind though, thank you!
I think it is ok to keep the same deal as long as you update it with mentions of any relevant new legislation and experiences. If you feel like this is still not enough (in terms of the answer looking "new"), you can always look to simply reformulate and restructure some points, changing the manner you express the relevant information rather than changing the information you communicate itself.Thank you Andrei, this has been really helpful. In terms of why this firm? I was talking about a deal which I really liked and cannot find another one in the firm news that mirrors that. Would you recommend changing that still or using the same one but maybe updating it slightly with new legislation or my experiences? Thank you so much for taking the time to answer my question
agreed! there's much to learn from rejections also, though feedback would be appreciated at the earlier stages haha...I agree - but I learned how to detach... I mean, if a rejection is too painful, I allow myself one day to reflect and cry, and then I move on! "You can't always get what you want, but if you try sometime, you'll find you get what you need" 😀
You live, and you learn... Don't let pre-AC rejections affect you too much -- sometimes it's as simple as luck that determines our progress with VSs/TCsagreed! there's much to learn from rejections also, though feedback would be appreciated at the earlier stages haha...
Thank you @Andrei Radu - this is really helpful. Also, I'm wondering beyond knowing about banking & finance, M&A, and private equity - is there any other concepts regarding practice areas that we need to know. I don't mean like trends or inflation etc, but pure substantive concepts and content. And if so, what exactly should we learn? I hope that makes sense. The US firms I have in mind are strong in corporate, PE, capital markets etcHi @flower1 that is a really good question that I also used to struggle with. Firstly, I will clarify that generally you will not be expected to know as much about finance as you will be expected to know about M&A, so you should not worry a lot simply because your knowledge of finance seems more basic when contrasting it with your knowledge of M&A. Secondly, what you need to know about finance will be highly depended on the firms you are interviewing with - the types of finance matters a firm specialises in should significantly influence the scope of your research while you prepare.
That being said, I think there are a number of basic finance concepts that you should understand irrespective of the particular firms you will have ACs with, in that they are foundational enough to be "fair game" regardless of the particularities of a firm's practice. I will list here the ones the come to mind right now, but this is by no means an exclusive list:
- Equity finance vs debt finance, and the main advantages and disadvantages of each;
- Elaborating on the above, explaining what bonds, loans, and IPOs are;
- Interest rates and how those are impacted by inflation;
- Securitisation (how debt can be packaged to be sold on secondary markets);
- How lenders protect against default risk (securing a debt over fixed/floating assets);
- A basic understanding of how banks work and what their role (and the general role of lending) is in sustaining and contributing to the growth of the global economy;
- The downward spiral risks of financial crises and the fundamental importance of trust in the stability of banks, ensured through financial regulation (ie why are stricter capital and liquidity adequacy requirements necessary, how the banking sector changed post the Global Financial Crisis),
- A basic understanding of how the process of restructuring and insolvency works;
- A very basic understanding of different practice areas within finance (ie you should know how to explain the difference between traditional banking and finance, leveraged finance, project finance, asset finance, DCM, funds finance, and derivatives & structured finance)
It doesn't but the second stage does!! Best of luckThis has probably been asked lots of times now lol, but does the Latham 1st stage assessment have a VI?
Hello!Hi!
How would you recommend approaching Paul Weiss' questions?
1) Tell us why you want to join Paul, Weiss (250 words)
2) How do your extra-curricular activities align with a career at Paul, Weiss? (250 words)