TCLA Vacation Scheme Applications Discussion Thread 2025-26

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With so many firms undergoing mergers rn, how will that affect trainees, future trainees, and in particular, NQ retention and salaries?
I don't see trainee intakes dropping to be honest. If anything, combining cash flows, profits etc means that firms will have more money. Obviously, with NQ positions, initially, it is likely to reduce as 1) there will be a lot of overlap + unnecessary amount in certain practice areas and 2) a lot of Associates and even Partners may simply choose to leave as they may not 1) like the merger in the first place 2) think they can get better opportunities elsewhere. In short, there are so many competing factors at play, and ultimately it is going to very firm specific and based on the market conditions at the time.
 
I'm a bit stuck on how to answer this question what 3 skills makes a good commercial trainee, how would this differ from what 3 skills makes a good trainee?
Hey!

I would say that this isn't actually too different from a standard "3 skills of a good trainee" question, and the core foundations are generally the same.

The difference is likely in the framing - for a "commercial trainee", you would place more emphasis on commercial awareness, client focus and practical judgment / advice. It is about showing that you don't just complete tasks accurately, but that you understand the client's business objectives and think about the wider commercial impact of the work that you do.

Therefore, you don't need completely different skills - I would just write your answer with a slightly more commercially focused angle on the same core competencies :)
 
Hey!

I would say that this isn't actually too different from a standard "3 skills of a good trainee" question, and the core foundations are generally the same.

The difference is likely in the framing - for a "commercial trainee", you would place more emphasis on commercial awareness, client focus and practical judgment / advice. It is about showing that you don't just complete tasks accurately, but that you understand the client's business objectives and think about the wider commercial impact of the work that you do.

Therefore, you don't need completely different skills - I would just write your answer with a slightly more commercially focused angle on the same core competencies :)
Thanks so much Abbie!
 
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Hi @Abbie Whitlock

Please correct me if I’m wrong, but I understand that corporate lawyers generally work in four main areas:
  • Advisory/Regulatory – would trainees mainly be updating clients on legal developments, doing legal research, and drafting advice?
  • Contentious – would a trainee’s work involve assisting with litigation, preparing witness statements, supporting court preparation, and conducting legal research to develop arguments?
  • Transactional – would trainees primarily draft and negotiate contracts? Also, in M&A deals, do trainees ever get involved in negotiating the deal price, or is that mainly handled by investment bankers?
I’d love to know if this is an accurate view of what trainees do in each area, or if there are other key responsibilities I should be aware of.

Thanks in advance! :)
 
Hi @Abbie Whitlock

Please correct me if I’m wrong, but I understand that corporate lawyers generally work in four main areas:
  • Advisory/Regulatory – would trainees mainly be updating clients on legal developments, doing legal research, and drafting advice?
  • Contentious – would a trainee’s work involve assisting with litigation, preparing witness statements, supporting court preparation, and conducting legal research to develop arguments?
  • Transactional – would trainees primarily draft and negotiate contracts? Also, in M&A deals, do trainees ever get involved in negotiating the deal price, or is that mainly handled by investment bankers?
I’d love to know if this is an accurate view of what trainees do in each area, or if there are other key responsibilities I should be aware of.

Thanks in advance! :)
I have to get more sleep - I thought the actual Lord Sumption was on TCLA for a sec
 
I have to get more sleep - I thought the actual Lord Sumption was on TCLA for a sec
Hey it's me:
202508JonathanSumptionMINIMALCC.jpg
 
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