2020-21 Vacation Scheme Applications Discussion

[Celestie]

Hello hello everyone, been very absent but hope everyone has gotten some good outcomes this week.
Its a hella stressful time - so remember to look after yourself and treat yourself.

 

[Jaysen]

https://www.theguardian.com/busines...-goldman-sachs-claim-inhumane-work-conditions for next time we get asked 'why not investment banking'

105 hours average in a week

 

[jan28]

Eek... why are banks like this?

105 hours average in a week

madness. how can it be sustainable?! (i guess the answer is that it's not)

 

[Jaysen]

madness. how can it be sustainable?! (i guess the answer is that it's not)

In the future, I think we'll look back at many of these practices with horror.

Same with law firms; unless there's a need to be in the office because of a deal finishing in the early hours of the morning, I expect more firms will come to terms with the fact that crazy working hours on a sustained basis is not helpful for anyone i.e. higher attrition/more mistakes/lower output. Unfortunately, clients have to change first though.

 

[tk166]

madness. how can it be sustainable?! (i guess the answer is that it's not)

Its not, I have 3 friends with offers in GS IBD/CM and all 3 of them want to lateral to PE after 2-3 years

 

[Andrew M]

https://www.theguardian.com/busines...-goldman-sachs-claim-inhumane-work-conditions for next time we get asked 'why not investment banking'

"I've been through foster care and this is arguably worse" wow.

I've regularly worked 70/80 hours a week before and felt like I had no life at all. I can't even imagine doing 95+.

 

[Asil Ahmad]

Guys do you lot think SPAC's are on the rise in commercial awareness and do you think more law firms will be involved in SPAC's transactions in the future. SPAC'S means special purpose acquisition companies.

 

[Kubed]

Guys do you lot think SPAC's are on the rise in commercial awareness and do you think more law firms will be involved in SPAC's transactions in the future. SPAC'S means special purpose acquisition companies.

Definitely a hot commercial trend of the moment I would say! There's a thread on it here: https://www.thecorporatelawacademy.com/forum/threads/a-spac-tacular-change-in-uk-listing-rules.3590/

 

[M1999]

https://www.theguardian.com/busines...-goldman-sachs-claim-inhumane-work-conditions for next time we get asked 'why not investment banking'

I’m genuinely curious how corporate law firms compare to investment banking hours. You hear horror stories about both, but this forum seems to suggest that IB is more, well ‘in humane’

 

[Bonolaw]

Hi guys, can anybody who has been offered a Stephenson Harwood spring v/s tell me what the application stages are before the v/s offer, many thanks in advance.

 

[Asil Ahmad]

Definitely a hot commercial trend of the moment I would say! There's a thread on it here: https://www.thecorporatelawacademy.com/forum/threads/a-spac-tacular-change-in-uk-listing-rules.3590/

Thank you didn't know there was an article on TCLA forum about this.

 

[abab]

Has anybody completed a Trowers & Hamlins AC yet?

 

[Daniel Boden]

Hi guys wanted to ask if anyone knew if it’s okay to put on the work experience section for X law firm app about your upcoming vac schemes at a different firm/s. Is this okay to show you’re a serious candidate etc or do law firms not like it cos it’s a diff firm? Thanks 🙏🙏

Yeah it's okay - I did it last year when I was making direct TC apps and just said "incoming vacation with X firm" and then in the entry, I explained when the scheme was due to take place, the duration of the scheme and the seats I would be sitting in

 

[Daniel Boden]

I’m genuinely curious how corporate law firms compare to investment banking hours. You hear horror stories about both, but this forum seems to suggest that IB is more, well ‘in humane’

I think a key difference is more that at law firms there doesn't seem to be much of a facetime culture i.e. if you don't have work to do you go home (because the firms know that when there is work to do you'll be working hard and often late - very general point and obviously entirely depends on your seat/department) whereas in IB it seems that you're expected to be in the office till a certain time in the evening regardless of how much work you have on at the time

 

[Daniel Boden]

Its not, I have 3 friends with offers in GS IBD/CM and all 3 of them want to lateral to PE after 2-3 years

yeah the lateral move to PE or hedge funds is an incredibly popular move for that reason - compensation can be significantly higher and hours tend to be a bit more manageable

 

[Daniel Boden]

In the future, I think we'll look back at many of these practices with horror.

Same with law firms; unless there's a need to be in the office because of a deal finishing in the early hours of the morning, I expect more firms will come to terms with the fact that crazy working hours on a sustained basis is not helpful for anyone i.e. higher attrition/more mistakes/lower output. Unfortunately, clients have to change first though.

The fact GS has had to introduce a policy "enforcing no work on Saturdays" says it all to be honest...

 

[ellens]

AC invite for Cooley, they got back earlier than expected

 

[Elle W]

Hi guys, can anybody who has been offered a Stephenson Harwood spring v/s tell me what the application stages are before the v/s offer, many thanks in advance.

Hi, I haven’t been offered a place for the spring scheme but did my interview for the summer scheme on Monday so I can maybe help!
After the application stage there was a Watson Glaser, then the interview with HR which was 45 minutes and I believe the final stage is a written exercise

 

[Zubin]

Is Marriott Harrison rolling basis ?

not sure but I want to know!

 

[Guilherme Carvalho]

AC invite for Cooley, they got back earlier than expected

Congratulations! Best of luck with your AC.