2020-21 Vacation Scheme Applications Discussion

[Deleted member 3795]

Hi

How long should interview answers be especially those such as why commercial law, why you etc ?

 

[jan28]

Hi

How long should interview answers be especially those such as why commercial law, why you etc ?

I've taken about 4 minutes for cv blind interviews whereas for others it's around 2-3 mins. But frankly I'm also not quite sure if this is the right length so would be interested to hear others' thoughts

 

[Jacob Miller]

Hi

How long should interview answers be especially those such as why commercial law, why you etc ?

I would typically speak for about 4 minutes for each of the 3 why's, but there's no particular right or wrong. The key thing is the content in your answer, not how long your answer is.

 

[Matt_96]

Off-topic question but was wondering if anyone here has used the LPC answered guide for their core modules? If so, how did you find it?

I know materials are provided etc. but the sample seems to be clearer in its structure.

Thoughts?

I shelled out and bought it recently as I thought there was no way, being a disorganised person, that I was going to be able to make my own checklists. It is very good. Puts the basic facts into a very simple and easy to understand visual format. But it is probably not a total replacement for your own notes and I have yet to determine whether or not I could take it into an exam with me (lol). Doesn't really go into a huge amount of depth so you would need to supplement it with extra stuff.

 

[Deleted member 3795]

I would typically speak for about 4 minutes for each of the 3 why's, but there's no particular right or wrong. The key thing is the content in your answer, not how long your answer is.

That makes me feel miles better - was worried that I was dragging on a bit with an average of 2 and a half minutes for answering each question!

Incidentally, this is after following your advice on the 3 whys and so I’d like to thank you for the interview section you did on here!

 

[Asil Ahmad]

I had a TC offer from a partner's mobile once - there's a bit of a story goes alongside it, can see it here if you want a laugh.

OMG I just read it now and lol this just made my day.

 

[HopeLaw1997]

In a recent AC I was asked 'If I had a magic wand right now, and could do anything to fix the economy, what would I do?". This question stumped me as I was ready to discuss current things of interest within the commercial sphere (crypto currencies, ESG, SPACs etc etc) as well as issues and remedies within the legal world such as legal tech and COVID, but this questions took me by surprise. With such a broad question I was quite lost.
I spoke about tax and the new budget regime, but after that my answer was pretty terrible...whoops.

I would love anyones opinion on this so I can be better prepared in the future! Thank you @Dheepa @Jaysen @Jacob Miller

 

[VivianeS]

In a recent AC I was asked 'If I had a magic wand right now, and could do anything to fix the economy, what would I do?". This question stumped me as I was ready to discuss current things of interest within the commercial sphere (crypto currencies, ESG, SPACs etc etc) as well as issues and remedies within the legal world such as legal tech and COVID, but this questions took me by surprise. With such a broad question I was quite lost.
I spoke about tax and the new budget regime, but after that my answer was pretty terrible...whoops.

I would love anyones opinion on this so I can be better prepared in the future! Thank you @Dheepa @Jaysen @Jacob Miller

This question would require a twofold process. First, you would need to spot what is currently going wrong with the economy, including what the long-term effects of the present situation may be. In a second time, I would expose what solutions appear to be the most efficient to me.
For example, you could mention the huge surge of the debt and the growing number of bankrupt businesses. What would you do to fix that? Would you think long or short-term? Bet on interventionist and protectionist measures or rely on the possibility of foreign lending/investing? In addition, you could also mention how an adequate legal framework may help fix the economy.
Importantly, I wouldn't focus on very niche aspects or ones that have minor importance.
These are very vague answers because I believe that you should tailor your answer the way you prefer but hope that helps!

 

[Jaysen]

In a recent AC I was asked 'If I had a magic wand right now, and could do anything to fix the economy, what would I do?". This question stumped me as I was ready to discuss current things of interest within the commercial sphere (crypto currencies, ESG, SPACs etc etc) as well as issues and remedies within the legal world such as legal tech and COVID, but this questions took me by surprise. With such a broad question I was quite lost.
I spoke about tax and the new budget regime, but after that my answer was pretty terrible...whoops.

I would love anyones opinion on this so I can be better prepared in the future! Thank you @Dheepa @Jaysen @Jacob Miller

First of all, this was very a tough question - I'd bet that almost every candidate struggled with this question. Half the battle is knowing how to talk through your thought process.

Second, there is absolutely no single right answer to the question, although there are wrong answers to this question (i.e. an answer that wasn't answering the question).

This question is much more about the fundamentals of commercial awareness. The common advice of learning about 2-3 topics in the commercial space will help you for many commercial questions, but not for these types. Instead, it's about whether you can apply your existing knowledge about the commercial world to solve a problem, which is quite different than discussing a topic you already know a lot about.

A useful framework for these questions is to break apart the question. To know how to fix the economy (if you even think it needs fixing), as @VivianeS said, you first need to think about what your opinion is of the problems facing the economy right now. You can take this answer in the direction you want to: Do you think it's down to a lack of consumer spending and business investment? The inability of businesses to operate to full capacity? The huge deficit as a result of government spending? The lack of productivity? Once you have the problem, you can use your magic wand to think about the solutions you would provide.

For me, the important takeaway is not to think you should have prepared an answer to this question already or to spend hours researching the current problems facing the UK economy. I would instead take some time to think about how you would answer this question now, relying on only what you do know. There will always be questions that you can't have prepared for, so what you want to show is an ability to break down problems, talk through your thought process, and enough commercial acumen to give a relevant answer to the question.

 

[Andrew M]

In a recent AC I was asked 'If I had a magic wand right now, and could do anything to fix the economy, what would I do?". This question stumped me as I was ready to discuss current things of interest within the commercial sphere (crypto currencies, ESG, SPACs etc etc) as well as issues and remedies within the legal world such as legal tech and COVID, but this questions took me by surprise. With such a broad question I was quite lost.
I spoke about tax and the new budget regime, but after that my answer was pretty terrible...whoops.

I would love anyones opinion on this so I can be better prepared in the future! Thank you @Dheepa @Jaysen @Jacob Miller

Not going to lie, as a politics nerd I would love this as a question! 😅

I do get the sense that applicants often tend to forget about politics when developing their commercial awareness. There's a reason politics is the first letter in "PESTLE". It would definitely benefit to spend some time considering how macroeconomic policy impacts the markets.

 

[LawStudent31]

Hey,

Congrats on the interview! All my advice for Travers would be contained in my interviews article which you can access via the link in my signature. You might also want to look at the Travers 2020-21 Interview Experiences.

In my experience of the interview (in-person), it was pretty relaxed and conversational. I got on really well with my interviewer which helped - but honestly everyone I've interacted with at the firm is genuinely really nice so you've nothing to worry about. Make sure your commercial awareness is good, have a real think about the morality-based reasoning questions, have solid justifications for the 3 Why's and make sure you're prepared to really justify anything you say as they'll occasionally press you hard on something which seems very innocuous to test you.

Other than that, just all the normal interview 'rules' apply really - be prepared as well as you can be, be on time, try and build rapport, be personable, ask decent questions at the end. One of the things I really liked about my Travers interview was that I was told my interviewer in advance so I could read their bio on the firm website etc, see their interests and recent work to specify questions more towards them rather than having to fling mud and hope it sticks.
Very best of luck

Thank you so much for this info!

 

[gee565]

I've just done a video interview and the timer cut me off mid sentence on two of the questions, do you think this is going to be looked down on?

 

[Dheepa]

hey guys, have this question in an application, id appreciate any pointers of where to look to research the answer!

"Tell us about a recent development, situation or piece of work within the legal industry that you think is a good example of lawyers or law firms thinking smart."

thank you !

This is a super broad question and gives you scope to talk about a deal, any new initiatives a firm has implemented or something more typical like legal tech. I'd probably start research by looking at some of the headlines on The Lawyer to see if there's anything you could use (if you choose to take the second route I mentioned). If that doesn't work I'd probably stick to talking about a particularly innovative or creative deal. For something like this, make use of the firm's annual report - usually includes a lot of in depth highlights on a deal.

A slightly lesser known example that jumps to mind is when DLA Piper had a huge cybersecurity issue a couple of years back the firm very quickly went to working via Whatsapp solely (no emails because they were dealing with the hack) to still get client work done. Doesn't seem like they did anything particularly new but I think there's something to be said about coming up with any means/approach necessary to get work done.

 

[Dheepa]

Does anyone know any firms that recruit from direct TC? I was thinking of submitting at least 5 direct TC applications but I'm an international student and don't know if any firms will sponsor. anyone got advice? should i just call it a day on this cycle?

Most major City firms will sponsor and will say as much on their GR website. Have you looked into applying for the two year graduate visa? I think guidelines on how to apply and when (1 July if I'm not mistaken) were just released this past week!

 

[lawgal101]

anyone done DACB VI?

 

[breadpitt]

What is a question that you guys usually ask partners post-AC? I find that the questions I tend to ask are quite generic/boring

 

[Jacob Miller]

In a recent AC I was asked 'If I had a magic wand right now, and could do anything to fix the economy, what would I do?". This question stumped me as I was ready to discuss current things of interest within the commercial sphere (crypto currencies, ESG, SPACs etc etc) as well as issues and remedies within the legal world such as legal tech and COVID, but this questions took me by surprise. With such a broad question I was quite lost.
I spoke about tax and the new budget regime, but after that my answer was pretty terrible...whoops.

I would love anyones opinion on this so I can be better prepared in the future! Thank you @Dheepa @Jaysen @Jacob Miller

Hey,

In all honesty this is an absolute horror question for an interview - I'd never have been able to answer it on the spot. Hell, we're applying to be commercial solicitors, not economists.

I would tend to echo the above here and say, within reason, that they're more interested in your thought process, justifications and ability to defend the position you take rather than the actual 'solution' that you give.

If I were trying to plan a response to this, I would first consider all the different things that actually make up 'the economy'. Then, subsequently take a look at the key areas where it's failing and then look at things which can be done to improve that.

Say, for example, you decided that a lack of accessible credit was one of the key issues that the economy was failing. One solution could be to cut interest rates in order to stimulate and incentivise borrowing. I'd approach an answer structure vaguely as follows:

1. Identify the thing you would change (in this example, cutting interest rates)
2. Explain how you've identified that a lack of borrowing is one of the major things causing economic stagnancy
3. Explain the importance of having easy access to finance, especially in the current circumstances
4. Explain the role that interest rates play in encouraging the sale of credit
5. tie your arguments together, concluding that you feel cutting interest rates would stimulate the economy by encouraging the sale of credit, which can then in turn be used to keep businesses afloat and also for re-investment

I know the above is super vague but hopefully it's some help at least!

 

[GK8997]

What is a question that you guys usually ask partners post-AC? I find that the questions I tend to ask are quite generic/boring

I personally ask them about themselves- why they chose to specialise in their practice area/ sector (depending on the firm's structure)/ to tell me about something interesting they've worked on/ why they chose to come to the firm or stay at the firm- I also ask them about something commercial if it comes up i.e. for one of my interviews the partner mentioned how she liked the fact that the firm had loan and high yield departments that work closely together so i asked her about how she thought activity within capital markets had changed/ been affected due to the pandemic (but this is only because it came up in conversation)

 

[ZaraB]

I am and think it's completely worth it - literally the price of a coffee for a month's worth of a really good commercial awareness resource! It's a no-brainer to me really and would highly recommend

I am a subscriber and I would recommend it. I am not sure how much it costs now as I am on the old subscription plan and pay £2.99 monthly but I think it is great value for money and really helpful. I also attend the weekly zoom meetings on Thursday which are for paying subscribers and I find that helpful too.

I am also subscriber, definitely worth it for £2/month. Also v useful to point you to the articles if you want to do more research on something they summarise in the daily newsletter!

Thanks very much all for your recommendations! Will be subscribing this evening 😀

 

[FM302989]

Thanks very much all for your recommendations! Will be subscribing this evening 😀

See you on a Zoom call in the future!