2020-21 Vacation Scheme Applications Discussion

[Dheepa]

Might be a silly question, but do law firms who have a strong white collar crime/global investigations practice do the same work as a firm with a strong financial regulation practice? Or are they very different? For reference I am thinking Willkie vs. Akin Gump.

I'd say they're very different, although I can understand why it'd be easy to confuse the two.

White Collar Crime generally involves defending clients from both criminal or civil litigation brought by government or regulatory bodies. So while the lawyers would need a level of understanding on the regulation the charges are being based on, the work is a lot more contentious rather than merely advisory. That typically involves liasing with the counsel representing your client in court maybe, or developing a defense strategy for the case. Examples of things that would be considered white collar crime: fraud, embezzlement, money laundering etc. Clients could also be individuals or institutions.

Financial regulation involves advising what used to be predominantly financial institutions (banks, hedge funds, insurance companies) on their investment activities. Examples include advising on compliance with clearing systems, financial product registration/licensing and advising on ESG investment guidelines. While fin reg had a huge boom especially after the 2008 crisis, I think there's probably a second wave of big ticket work in this area now because of things like fin tech and new payments systems. From what I understand although the work is predominantly advisory, there can be a transactional element to it when companies need advice on capital and liquidity requirements during M&A transactions (i.e. prudential regulation)

Personally, I tend to think of WCC lawyers as the people that come in to do the damage control once something has gone wrong while financial regulation lawyers might be needed perpetually to advise on different regulations.

 

[Jaysen]

I'd really recommend everyone listen to Matthew Walker's podcast with Joe Rogan where he speaks about his book "Why we sleep" or just buying the book itself which is brilliant:

Or, alternatively, his recent Ted talk which is shorter:

For me, it was incredibly eye-opening and pretty scary tbh, as I, like you, used to prioritise everything in my life but sleep, be it work, training and competing in my sport, study etc. but his words really shocked me into making sleep more of a priority just because of how harmful less than 7 hours of sleep a night is for our minds and bodies.

While we may not see negatives in our 20s or 30s, come our 40s and 50s the consequences can be awful and by then it's too late as the damage is done. Equally, you'll probably find you'll be far more productive if you get those additional 3 hours and will use your time far more efficiently - a 2-hour task on 4 hours sleep will take you 1 hour on 8 hours sleep for instance. To me, I felt this far greater efficiency was almost like my mind and body's way of thanking me haha

If you're struggling to sleep, I found using the app 'headspace' before bed really useful and that helped improve my sleep a lot. Also, things like trying to avoid looking at my phone, laptop etc. in the hour before I go to bed can also help your mind unwind but using headspace was the gamechanger for me

PS: what espresso machine have you got? Need some recommendations for a new one haha

That Matthew Walker podcast was so eye opening to me!

 

[Jaysen]

Hey guys, I know as potential commercial solicitors, we're meant to be able to work under pressure and all... but having received a few rejections recently, it's really affected my confidence and while I'm really grateful for having my one AC invite this cycle, I feel my imposter syndrome kicking in. The overwhelming pressure I feel from potentially messing it up, and as a final-year international student, having to go back home where things aren't great, is also completely throwing me off my AC prep. 🥺

I know this is a low-key rant (and I'm sorry!) but does anyone have any advice on how to overcome this and not let the pressure affect me?

Just wanted to give you a shout-out for having the courage to post something like this. I think it's something so many candidates feel going through the process (I definitely did). Asking questions like this helps other people to know they're not alone in feeling this way .

I think the impression when seeing existing lawyers is that they were/are always super composed and put together. No doubt some are, but there are also so many who had doubts (and continue to have doubts) at every single step. I don't think it's easy to ignore imposter syndrome, I just think you have to keep doing the things anyway, even if you feel terrified inside. Over time, as you persist, you'll start to develop confidence, knowledge and skills, and realise that you are completely capable.

 

[aaron_atde]

Does anybody have tips for an Eversheds Sutherland VI and strengths based interviews in general?

 

[Dheepa]

For a question for a VI (where you have 2 mins to talk) that is: what characteristics make a good commercial lawyer? Would you go into detail about examples of where you demonstrated that characteristic?

I would probably stick to the question. So for each characteristic that you think is necessary, detail why it's necessary in the day to day life of a trainee and how you could see these skills being applicable. I think questions like this are trying to test your understanding of the job more than anything else.

 

[LeilaScott]

As I am waiting to hear a TC outcome, I'm applying to alot of the US firms that still have open VS applications - My thinking atm is that it is better to send some applications off rather than just be resigned to "they are rolling" but does anyone have any insight in regards to how likely something is to come through at this stage in the year? Particularly with Mayer Brown, Sidley, Morgan Lewis or Macfarlanes?

 

[Luiz1001]

As I am waiting to hear a TC outcome, I'm applying to alot of the US firms that still have open VS applications - My thinking atm is that it is better to send some applications off rather than just be resigned to "they are rolling" but does anyone have any insight in regards to how likely something is to come through at this stage in the year? Particularly with Mayer Brown, Sidley, Morgan Lewis or Macfarlanes?

I believe that Morgan Lewis is non rolling, but I could be wrong

 

[33c]

As I am waiting to hear a TC outcome, I'm applying to alot of the US firms that still have open VS applications - My thinking atm is that it is better to send some applications off rather than just be resigned to "they are rolling" but does anyone have any insight in regards to how likely something is to come through at this stage in the year? Particularly with Mayer Brown, Sidley, Morgan Lewis or Macfarlanes?

I applied to ML on the TC deadline last year and progressed to phone interview. I would still give it a go!

 

[Victoria R]

Is CVmail down for anyone else? I can't access a VRT that expires tomorrow

 

[Moon]

Does anyone know what to expect for AG's interview, how long is the prep time, answer time, what questions could appear?

 

[Moon]

@Jacob Miller Just wanted to get your thoughts on how to do well on an interview. I got invited to the AG interview, in the email they said the interview will be voice recorded only. How do I impress the hell out of them? Your guidance would be greatly appreciated. Thank you.

 

[Jacob Miller]

@Jacob Miller Just wanted to get your thoughts on how to do well on an interview. I got invited to the AG interview, in the email they said the interview will be voice recorded only. How do I impress the hell out of them? Your guidance would be greatly appreciated. Thank you.

Hi @Moon,

Great question. Key things I would really focus on in an audio-only interview are mainly the key factors associated with good public speaking practice in general:
- Appropriate and varied vocal tone
- Clear, appropriately-paced speech enunciated properly
- Appropriate use of language, vocabulary etc
- Clear line of discussion in responses, avoiding 'diversions' and staying on the main course of discussion
- Quality content in your responses

Hope this helps

 

[NA1998]

Is CVmail down for anyone else? I can't access a VRT that expires tomorrow

Both CVmail and Chambers Student are down for me

 

[MJ90]

A&O staff must be overwhelmed...Rejected on a saturday for direct tc!

 

[M777]

Anyone not heard back from Davis Polk post-app? Assuming it's a rejection since many are already interviewing with them, and they tend to send out invites by mid January?

 

[s10]

Congrats!!! When was your AC if you don't mind me asking?

It was on the 21st! I heard back the very next day.

 

[collie_121]

Is CVmail down for anyone else? I can't access a VRT that expires tomorrow

Omg I'm in the same position as you. Have you emailed anyone?

 

[corplaw0702]

Have people who gotten through to WG at Bakers gotten the link yet?

 

[CMB]

VI invite for Eversheds. If anyone has any tips/advice, it'd be much appreciated !

 

[_mxrkyyy]

How do you generally approach scenario based questions? For example, a partner asking if you can take on a task if you are already busy.