Yep a couple of years ago I didn't find out for like 5-6 weeks after an AC and it was good news (think I was on the maybe pile) so don't give up just yet!The partner told me during the interview that they were pretty fast in getting back to people and that I would know in a week, but I didn't get anything for 3! but it was good news xx
Are you allowed to apply for a TC in the same application cycle if you've been rejected for a VS?Are you going to apply direct? Or do you reckon its too late given that they are rolling?
waiting for MoFoAnyone still waiting on MoFo or Debevoise post-app? It's been 3+ months since I applied so I'm assuming PFO, but has anyone heard?
*Also I'm aware debevoise are already doing ACs so presumably I have missed the boat?
@Dheepa how would you respond if you were asked what other ways to reduce budget deficit? Other than tax, I’m thinking reducing government expenditure and issuing government bonds? I don’t think I’d talk about quantitative easing here
Can I ask you if it is for spring or summer VS? Thank you very much in advanceAnyone have any advice for the Reed Smith AC? Have it tomorrow and feeling all kinds of nervous!!
Hey, so I agree that reducing government expenditure and raising taxes are probably the main ways to cut deficit. Not sure if I know of other ways besides drastic ones like a bailout (which wouldn't be applicable to the UK anyway).
If I was asked to discuss something like this in an interview I'd go through the pros and cons of ways in which the deficit can be reduced and try to tie it to what I understand is the state of the UK economy at the moment. I want to caveat this by saying I'm no expert and this is just what I know from the things I've read so if anyone wants to correct me please do!
1. Increasing taxes (as you rightfully say) - really the only downside to this is if you increase overall tax rates during a recession then you're going to reduce spending and so GDP which may end up increasing your deficit anyway. There is a lot of buzz around imposing a one off wealth tax in the UK, which would raise the money needed without the prolonged impact on spending that increases in VAT/income tax would create.
2. Reducing government expenditure - Pretty self explanatory except it can go wrongly very quickly depending on what areas the government chooses to reduce spending on. Generally as long as the spending cuts don't affect areas that help create jobs or welfare/social benefits then this is a good method. Something that I know is a constant issue in the UK especially is that despite recent spending cuts, increased pension costs are a constant drain and likely will be for a long time because of something called the triple lock guarantee.
On government bond issuances, you could discuss how it works in conjunction with quantitive easing. The Fed and BoE did QE last year to deal with the direct impacts of COVID and ended up buying government bonds (and corporate bonds) off the back of that. My own opinion is that while I think both QE and bond issuances can be a great quick source of revenue for governments, the impact of having to pay interest rates etc on those bonds won't make the long term budget deficit any better.
Hope that gives you some ideas!
well done!! hate to be the one to ask but when did you apply?video interview for W+C summer! wooooo!
I've never actually come across these tables before! Very interesting read.I am interested why people apply for certain firms with bad reputations. Seeing the ROF polls for firm culture and management there is always a few firms that score way worse than the rest and in the comments there are horrid accounts of what it is like to work at these firms.
RollOnFriday Firm of the Year 2021: The 11 worst-managed firms | RollOnFriday
Pandemic pannedwww.rollonfriday.comRollOnFriday Firm of the Year 2021: The worst cultures | RollOnFriday
Eight firms scored under 50%www.rollonfriday.com
(many US firms are left out but you can guess where some would be)
Since there are so many firms which have an excellent reputation for training trainees as well as a decent culture, why do people apply for the few that seem especially bad? If you did apply for one of those firms that has a bad reputation, why?
Not judgemental- just genuinely curious