TCLA Vacation Scheme Applications Discussion Thread 2025-26

[Dannie]

Do you think my hsf kramer app is disadvantaged if i didn't mention the merger as a reason to apply?

 

[Andrei Radu]

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

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.

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)

 

[CupOfTea17]

Hey guys! Just looking for some advice - how crucial do you think it is to have previous paralegal experience when applying for vacation schemes (in the hope of converting them to training contracts)
When looking at current trainees (at the firms I want to apply to) profiles on Linkedin, I've noticed a lot of them have at least a year of paid paralegal / legal assistant experience. This seems to be more common to for small-mid size firms which is what I am interested in.
Do you think it is necessary to be a paralegal first to secure a TC? (I am still very new to the legal field so just trying to work it all out!)

 

[yk1906]

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 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"

 

[Andrei Radu]

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

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.

 

[yk1906]

agreed! there's much to learn from rejections also, though feedback would be appreciated at the earlier stages haha...

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/TCs

 

[TCchaser]

This has probably been asked lots of times now lol, but does the Latham 1st stage assessment have a VI?

 

[flower1]

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.

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)

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 etc

Thank you

 

[Winter]

This has probably been asked lots of times now lol, but does the Latham 1st stage assessment have a VI?

It doesn't but the second stage does!! Best of luck

 

[legallycurly]

For Latham & Watkins, does the first stage include the pro bono case and a short behavioural assessment, or is there more? I am afraid I ended the assessment prematurely because I did not see any other components.

 

[wooliewoo]

Can someone please confirm if the Latham 1st stage test needs to be sat before the deadline. I know you have 72 hours to sit it but not sure if this needs to be done by today. Thank you!

 

[Abbie Whitlock]

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)

Hello!

I'd approach these questions by making your answers targeted, evidence-driven, and personal. I've set out below how I would approach each one - hopefully it helps as a starting point!

1. Why Paul, Weiss?

I'd focus on specificity. Make sure that instead of discussing generic points such as "prestige" or "top-tier private equity", dig into the aspects of the firm that genuinely attract you:

• Practice areas that Paul, Weiss is known for (e.g. private equity, litigation, etc.)
• Big headline matters the firm has handled that particularly resonate with you
• The culture - things such as their diversity values, their training style or the collaborative environment
• Any interactions that you have had with lawyers / trainees (e.g. at open days, networking events, on LinkedIn).

The important part is to connect those features back to you. Explain why they matter to you, with reference to both your past experiences and your future career goals and what you hope to contribute. You should show the graduate recruitment team why you are a good fit for the firm based on those two things.

2. How do your extracurriculars align with a career at Paul, Weiss?

Pick 2-4 extracurriculars that clearly demonstrate relevant skills or qualities. For example, this might look something like:

• Business societies / finance roles / commercial awareness competitions -> private equity or transactional awareness
• Advocacy or debating -> litigation interest and communication skills
• Pro bono / volunteering -> aligns with the firm's strong pro bono culture
• Competitions / sport / leadership -> resilience, teamwork, high performance, etc.

For each activity, I'd briefly describe what you did, then emphasise the skills that you gained and how they translate to a training contract at Paul, Weiss (and why you'd be a good fit!). Make sure to show growth and reflection, and how you made an individual impact.

For example, when I applied to Paul, Weiss last cycle, I discussed my participation in BIUCAC and how this showed an interest in private equity work and developed commercial awareness skills. I could then link this to my motivations for applying to the firm, which helped to create a clear image of how my experiences align with the firm overall.

I hope that helps!

 

[BM99]

Hi @Andrei Radu @Abbie Whitlock please can I ask during a 2 minute video interview response, if I talked about all important points and got cut off when I was trying to end the whole answer with a nice conclusion sentence, does that automatically mean failing the video interview question?

 

[Abbie Whitlock]

If Legal Cheek will be conducting another virtual Law Fair at 24th March 2026, whilst most participating firms deadline has passed, do they accommodate for the next cycle in 2026/2027 or they will reopen vacancies to fill out the TC intake for this cycle incoming in 2028??? Eg. some candidates decline their offer, or future trainee failed SQE so they need to postpone intake.

I'm wondering if it's possible that more firms would follow Reed Smith's path this cycle to open new TC route like last year, especially those which open through VS route only. Sorry if it sounds silly as this is my first cycle. @Abbie Whitlock

Hi!

Not a silly question at all! If Legal Cheek are holding another fair in March 2026, firms will still attend even if deadlines for that round have closed. They often use these events to engage with future applicants for the next cycle, so it can still be useful for 2026/2027 recruitment.

Vacancies can reopen later, but it's not guaranteed. This usually happens if there are dropouts, deferred offers, or unexpected space in the intake (e.g. as you noted, when someone doesn't pass the SQE). Reed Smith's late direct TC route last year is an example, but it's pretty tricky to predict whether more firms will do the same.

It's definitely still worth attending the virtual law fair - you can network, ask about future cycles, and get ahead for the next round even if applications are closed for this cycle

 

[wooliewoo]

It doesn't but the second stage does!! Best of luck

Do you get the second stage automatically after passing the first stage?

 

[tcla02]

are we supposed to fill in the work ex section in the NRF app form even though we are submitting a CV?

 

[Abbie Whitlock]

Hey guys! Just looking for some advice - how crucial do you think it is to have previous paralegal experience when applying for vacation schemes (in the hope of converting them to training contracts)
When looking at current trainees (at the firms I want to apply to) profiles on Linkedin, I've noticed a lot of them have at least a year of paid paralegal / legal assistant experience. This seems to be more common to for small-mid size firms which is what I am interested in.
Do you think it is necessary to be a paralegal first to secure a TC? (I am still very new to the legal field so just trying to work it all out!)

Hi!

In my view, it's not necessary at all - plenty of people secure vacation schemes and TCs without paralegal experience. It can be helpful for building legal awareness or proving commitment to the profession, but it is definitely not required in order to be successful. In many of my vacation schemes last cycle, I was often one of the only people with paralegal experience (and that is simply due to my placement year, which a lot of universities do not offer). Even in my direct TC cohort at Reed Smith, there are a few people who don't have any prior legal work experience!

What firms really look for is transferable skills, motivation, and evidence that you understand commercial work. You can demonstrate this through uni societies, part-time jobs, mooting, volunteering, open days, insight schemes, or other non-legal work. Even if paralegal roles tend to be more common at small-mid size firms (as you have seen on LinkedIn), this tends to be as they sometimes recruit trainees internally after getting to know them through support roles, so the pathway can be more common. That said, it's not a requirement - plenty of students go straight from uni to VS / TC without paralegal experience, especially if they can show the same core skills and motivation in other ways!

If you can get legal experience in some way, that's great - but don't worry if you're starting out. Focus on building skills and exposure in whatever way is available to you, and use applications to show why you're well-suited to their firm.

I hope that helps!

 

[Lawlawland]

People who've applied for the Simmons AI internship, did you hear back from them yet?

 

[Amgrad]

Hi!

Not a silly question at all! If Legal Cheek are holding another fair in March 2026, firms will still attend even if deadlines for that round have closed. They often use these events to engage with future applicants for the next cycle, so it can still be useful for 2026/2027 recruitment.

Vacancies can reopen later, but it's not guaranteed. This usually happens if there are dropouts, deferred offers, or unexpected space in the intake (e.g. as you noted, when someone doesn't pass the SQE). Reed Smith's late direct TC route last year is an example, but it's pretty tricky to predict whether more firms will do the same.

It's definitely still worth attending the virtual law fair - you can network, ask about future cycles, and get ahead for the next round even if applications are closed for this cycle

Thank you Abbie. I was aware of the deferral as well, your answer made it clearer.

I'd definitely still attend it whether I secured TC or not in next Spring, especially I love to Network with people, but I could only attend virtually so that least I can do. I renewed my list that I missed to attend their booth last fair because of running out of time and outage, also I noticed new 5-6 firms that will attend first time this cycle, so interesting as it'd be 93 law firms, the biggest one.

 

[FutureTraineeMaybe]

Did people add their extracurriculars in the work experience section for NRF ?