2020-21 Vacation Scheme Applications Discussion

[Soccerox73]

Beginning of February, what about you?

Feb 10th!

 

[Soccerox73]

is this for the summer scheme? when did you apply?

Mine was for summer

 

[rosie.l]

when did you apply btw, if i may ask, i applied on the deadline

I applied maybe a week before the deadline

 

[Naomi U]

@Dheepa @Jacob Miller @Daniel Boden @Naomi U @Alice G

For an AC/Interview, where does my commercial awareness need to be? To be specific, are there things I should definitely know about instead of being able to talk about my interests?

This leads me to my follow up question, what can one do in terms of commercial awareness in anticipation of an interview/AC - I have some firms in the works and I hope to have an AC/Interview for any or all of them. Im not saying I will get it but I am so worried that I want to start prepping my commercial awareness/knowledge now rather than after getting the invitation for the AC/interview. What can I do?

For more context, If I get the ACs, they will include a written exercise, partner/associate interview, presentation and negotiation.

Thank you

Hiya!

I completely agree with the responses given above and think they will be super useful in helping streamline your prep.

From my own experiences, I have always took this question as one that is very open-ended. I don't think there is necessarily a right or wrong answer. My personal approach was to make sure that I had a good understanding of key and recent headline issues, but then my actual stories that I would discuss were based on areas of personal interest. I think your answer will naturally be stronger if you choose stories that you genuinely find interesting and are able to form an opinion on because it will feel less forced/ artificial.

It's important to remember that it's not a test but a discussion, so the expectation is that if you mention something, it's something that you understand and feel comfortable to speak on. Similarly, if a question comes up that you aren't as aware of- be honest and approach your response logically using what you do know.

For my prep, I often used podcasts such as BBC's Wake Up to Money and The Commercial Awareness Podcast by Tapiwa Musemba on Spotify. I was personally quite interested in consumer retailers so I also subscribed to the retail gazette which is a great resource.
Whilst these helped improve my commercial awareness, it's important that you structure your research in a way that's conducive for discussion ( which is why I mentioned before that it is important to remember that it is not a test). So whilst researching you want to try to pay special attention to causes, implications and perspectives. You can perhaps use techniques like the PESTLE (Political, Economic, Social, Technological, Legal and Environmental) factor breakdown or try to consider the stories from the perspectives of different practice areas.

I've also included my response to a similar question which may also help ☺️

Hiya,

Congrats on getting an AC ☺️

It really depends on a number of factors - there is no perfect story. I think you want to find a balance between a story that is relevant and current but also one that you have a genuine interest in. My biggest advice is to never feel forced to talk about a story simply because you think its what they "want" to hear.

There is a lot going on right now whether it be regarding the impact of COVID-19 on various industries e.g. consumer retail, hospitality, entertainment, pharmaceuticals etc. There is also a lot of M&A movement right now e.g. ASOS just bought Topshop and Boohoo just bought Debenhams. As mentioned you could also talk about changing market trends e.g. the Gamestop story. These are just some broad ideas based off things that have recently come to my attention but like I said it really depends on your interests.

Also, I think its important to remember that this question is not just focused on your general commercial awareness but also your commercial fluency - whether or not you are able to have a discussion and form an opinion on commercial matters.

When you are researching these stories/deals ask yourself:

What market/ industry was this achieved in, and what are the current trends e.g. is this an emerging market, a declining market?

Was this the first deal of this kind and why? When was the last/similar deal completed and what were the reasons for the time lag?

Was this deal particularly more complex and why? (Consider cultural, financial, environmental, tax and competition implications)

If the story is one involving the firm you are interviewing at- why was X firm able to succeed on this deal (consider location e.g. are they the only firm with practising capacity in that region, and practice area e.g. does X firm offer a unique service to clients that cannot be offered elsewhere)

I think if you approach your preparation for this question from this angle, this will really help to tailor your answer!

Hope this helps and best of luck!

 

[VivianeS]

is this for the summer scheme? when did you apply?

Yes, it is for summer and I applied about 2 weeks before the deadline

 

[Sebastian Clark]

How do you guys know whether you are on your way to a burnout or whether you are just tired/complaining but have got more in you? I feel I have lost a bit touch with reality especially in these covid times at home 24/7 and I genuinely would be interested in hearing how you gauge your mental state these days?! Is it just me or is working and all these applications/waiting for outcomes/ keeping up with commercial topics taking its toll?! (Sorry for posting this here but definitely the most active thread so trying my luck)
You are not alone

I’m ngl I’m pretty low at the minute and don’t think I’ve got much more to give. My Work is crazy busy currently with a high level remediation project so under a lot of pressure most of the time.

Then spending all of my spare time doing applications which don’t even get anywhere (at least past VI/WG) is just frankly soul crushing.

I’m clearly doing something fundamentally wrong, which I can’t seem to identify as I’ve had good feedback on all my apps/practice VIs.

honestly I don’t know where I go from here. I’ll go and go again until I get my TC but right now I feel a million miles away, and my mental health is as low as it’s ever been.

 

[Jessica Booker]

Hey guys,

@Jacob Miller this may be a question for you as it is based off your article but does anyone know whether it is breaching the SRA Code of Conduct to lie on behalf of a client to the other party in the course of negotiation- I know you cannot do so if you are misleading the court but not sure if it's generally prohibited in a private negotiation setting, my gut would say so but wanted to check!

Yes... integrity is vital for the career

 

[Andrew M]

Icon! I'm curious about the context...

I was asked what my friends would say about me. One of my points was that I'm someone who will talk very passionate about and in depth about things I'm interested in. Such as Britney Spears and RuPaul. 🙃

 

[Jessica Booker]

@Jessica Booker opinions on changing AC dates for a third time? I was fast tracked to a January AC with a firm following an insight scheme, and changed it to a TC one in March. I then changed it to April. However, just realised that a vacation scheme I am interviewing for is in April, and I'd rather go through the TC process in March, and have that as my interview month.

Would this annoy the firm- 😅 😅 they've been so supportive and considerate so far but I feel really weird(not sure if I should)

Thank you

Yes, I’d advise against it.

But you haven’t got the vac scheme yet, so you could be changing it for no reason

 

[Athina]

Just got a PwC Legal Assessment Centre!! For those waiting from the VI I literally got it a few minutes ago so maybe check your emails.

Congratulations!! I just got mine as well! Pretty shocked tbh because I genuinely thought the interview was a car crash...

Which AC are you on?

 

[Naomi U]

When the interview question is something like "tell us about a recent commercial story you've been following" is it better to discuss a specific headline and its implications? or can it be better to discuss general trends in the market like ESG or investment in tech and tie it back to law firms?

Hiya!

I usually took the former approach. I think it's best to choose a story that has progressed over time, perhaps over a couple of months. This way you have more scope for discussion as you can include in your answer the impact and role played by the different trends and your opinions on them. I think this is usually better than trying to talk in great length about a story that emerged a week ago without much background insight.

The issue with speaking solely about trends alone, is that I think it's easy to go off track. You don't necessarily want to end up merely describing trends but rather you want to be able to discuss them in detail e.g. why they're occurring, their present impacts and what you think is likely to happen next. I think it's usually a bit easier to do this when you have one or two stories as your focus points, allowing you to use the trends to explain why such stories have occurred or to use the trends as evaluation points.

Personally, I don't think you would have to relate it back to the law firm unless it was specifically mentioned.


Hope this helps! ☺️

 

[josemourinho]

Hi, wondering if anyone has heard from Farrer & Co, CRS, Forsters and Boodle Hatfield? Am particularly interested to know if anyone has heard from Boodle.
If it helps anyone, I heard from Debevoise on Wednesday after sending my application on New Years Day.

 

[Iqra]

Those who've had PFOs from Osborne Clarke (despite attending their events etc) I don't know how helpful it'll be but let me know if you want me to have a look at the app and see what could have been the issue. I totally would've been upset too if I didn't get the AC invite, because I attended all their events, arranged phone calls etc.
And also, perhaps you can call up the firm to ask whether it was the VRT score that could've let you down?

 

[ellwilsen]

Hi, wondering if anyone has heard from Farrer & Co, CRS, Forsters and Boodle Hatfield? Am particularly interested to know if anyone has heard from Boodle.
If it helps anyone, I heard from Debevoise on Wednesday after sending my application on New Years Day.

Hey i was invited to interview with boodle Hatfield last week and had my interview this week but haven’t heard of the outcome yet

 

[ZaraB]

Lovely, a PFO from PwC as well 😭 😭 😭 didn't think that my VI went that badly too, this sucks

 

[LegalNim]

Has anyone who got a place on Fieldfisher's 2020 vac scheme (that was cancelled) been emailed about it being rearranged/ taking place this year?

Yes - it's in April.

 

[AlRJ]

I’m so happy for everyone that got an interview with travers but I just don’t know what they are looking for as I’m now expecting a PFO. I literally put everything they ask for into my app and still no luck 😢

They have only just started sending out interview invites today..... this does not mean you have been rejected!

 

[Zyyyy]

Another day of no news omg my patience is dropping now and Kennedys said week beginning 15th Feb and still waiting.

They told me W/B 22nd now

 

[MikSoroko]

I know there have been a few rejections but has anyone heard from Winston & Strawn with positive news yet?

Haven't heard anything since I applied on the 12th Jan

 

[Zyyyy]

Anyone heard back after an AC at W&c for the summer scheme? How long did they take to accept or reject you? I hate this waiting game :/