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TCLA Vacation Scheme Applications Discussion Thread 2025-26

Advice needed! I have been fortunate enough to receive a direct TC offer from a firm, with only 1 week to accept the offer. I have another vacation scheme coming up next month with my dream firm. I really want to try my luck with my dream firm, but also don't want to turn down a guaranteed TC at the other firm (I have asked and they are unwilling to extend the offer deadline). Any advice on how to proceed ? 😅 @Abbie Whitlock
Hi first congratulations !!! That's amazing

Does your TC contract mention you can't do a VS and vice versa? If not I would say accept the TC and do the VS.
Otherwise that might be more complicated and Abbie might be able to answer better
 
Heyy can anyone advise on which firms genuinely recruit from DTC route? Ive been told to check trainee/vs intake but this isnt very telling as it is not always precisely disclosed, and even the firms which recruit 90% from VS advertise the TC as realistic which it likely isn’t. For those applying to DTC, which would you say genuinely recruit a substantial number from this pathway?
 
Heyy can anyone advise on which firms genuinely recruit from DTC route? Ive been told to check trainee/vs intake but this isnt very telling as it is not always precisely disclosed, and even the firms which recruit 90% from VS advertise the TC as realistic which it likely isn’t. For those applying to DTC, which would you say genuinely recruit a substantial number from this pathway?
Some firms only have a dtc route like fried frank, king & Spalding among others
 
Heyy can anyone advise on which firms genuinely recruit from DTC route? Ive been told to check trainee/vs intake but this isnt very telling as it is not always precisely disclosed, and even the firms which recruit 90% from VS advertise the TC as realistic which it likely isn’t. For those applying to DTC, which would you say genuinely recruit a substantial number from this pathway?
Irwin Mitchell don’t have a vacation scheme anymore so they recruit all from direct applications
 
Slaughter & May PFO. Yay so happy
What The Wtf GIF by STRAPPED!
 
Heyy can anyone advise on which firms genuinely recruit from DTC route? Ive been told to check trainee/vs intake but this isnt very telling as it is not always precisely disclosed, and even the firms which recruit 90% from VS advertise the TC as realistic which it likely isn’t. For those applying to DTC, which would you say genuinely recruit a substantial number from this pathway?

honestly I'd be very wary of the VS vs DTC stats. For example, I applied to CRS DTC on the basis here that

50%-100% from direct TC applications

CRS

Plus:

"No, we recruit from both the placement scheme and direct training contract route. A placement scheme is useful if you also want to gain some legal work experience as part of your application process but isn’t required. We equally recruit our trainees from both routes, so we recommend applying for the route that best suits you. "

However, in reality

"
Thank you for your patience as we review your application.

We appreciate that it has taken longer than we hoped to get back to you. We experienced a significant increase in applications this year and reviewed our Placement Scheme applications first as these take place before our Direct Training Contract assessment days. We are still making decisions and appreciate your understanding."


Best IMO is to assume that unless there is no VS route, then VS is preferred.
 
So grateful to have embarked on this journey. It's had its tough times, but truly, the people I've met throughout this journey have made it worth it! I came into this field dreading the networking, but now, I am ecstatic whenever I make a new friend or have the opportunity to attend an event 🥺 Here's to many more peaks and troughs, as well as new friendships along the way! 🥂
 
Freshfields DTC offer. Latham SVS offer. Been applying for three years. If you’ve just started this year or feel it’s all hopeless, just know that I fumbled my Ashurst AC last year and didn’t have a single other AC. Think it’s fair to say my options this year have turned around. Keep applying - it’ll come eventually!
 
Freshfields DTC offer. Latham SVS offer. Been applying for three years. If you’ve just started this year or feel it’s all hopeless, just know that I fumbled my Ashurst AC last year and didn’t have a single other AC. Think it’s fair to say my options this year have turned around. Keep applying - it’ll come eventually!
so so happy for you! that is AMAZING, congratulations! no doubt super well-deserved - hope you spend lots of time celebrating such a wonderful win!
 
Hey!

With restructuring case studies, the emphasis usually shifts from "should this deal happen?" to "how do we deal with a company in trouble?". Therefore, you'll typically be given a scenario where a business is under financial pressure, and your job is to diagnose what is wrong and think through realistic solutions to assist the business. This could involve looking at cash flow issues, debt levels, or external pressures, and then considering options like refinancing, selling parts of the business, or some form of insolvency process. I'd say that a big part of what they are assessing is whether you can think in a balanced way and reach a solution that benefits a wide variety of stakeholders (e.g. creditors, shareholders, and management).

Capital markets case studies are also slightly different, and tend to be more about advising a company on how to raise money or access the market. Therefore, you might be weighing up options such as issuing shares versus taking on debt. The focus is less on technical knowledge (so try not to panic too much!), and more on your ability to think through timing, market conditions, and risk - essentially, you should show why one option might be more attractive than another in a given situation.

In terms of structure, I would say that they are actually quite similar to M&A case studies. You still want to clearly set out the key issues, work through the options in a logical way, and then land on well-reasoned recommendation - the main difference is just the context.

For preparation, it might be worth getting familiar with the basics of restructuring (like the different routes a distressed company can take and how creditors rank) and keep an eye on the wider economic picture in your commercial awareness preparation, particularly things such as interests rates. I always found Investopedia handy for learning new concepts, so it might be worth checking those out! Additionally, Jaysen has recently released a video that explains Corporate Finance, which I'd definitely recommend to provide some wider context :)

Best of luck with the interview!! :)
Thank you so much Abbie, this is really helpful!

I really had no idea where to start so i really appreciate you taking the time to help!

Thanks again :)
 
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