A&O Winter Vac Scheme 2022

[baileyjozef]

Just wondering if anyone has any experience they are happy to share regarding what happens on A&O’s vac schemes as I haven’t been able to find too much!!

I’m attending the Winter one, and would really appreciate any tips regarding:
- technical preparation beforehand
- the sort of tasks one might undertake during the week
- advice for completing assessed work
- whether there is an exit interview and if so, what was it like?

Thank you!

 

[AvniD]

Hi @baileyjozef! I haven't done an A&O vac scheme (or any vac scheme for that matter 😅) but will link some posts that my teammates have made in the past with their experiences and best tips- I really hope this is helpful!

• Neville's experience
• Conversion interview insight
• Conversion tips by George
• A collection of threads on vac schemes

 

[baileyjozef]

Hi @baileyjozef! I haven't done an A&O vac scheme (or any vac scheme for that matter 😅) but will link some posts that my teammates have made in the past with their experiences and best tips- I really hope this is helpful!

• Neville's experience
• Conversion interview insight
• Conversion tips by George
• A collection of threads on vac schemes

Hi @AvniD,

Thank you! I really appreciate that. Will have a look through and keep my fingers crossed all goes well.

 

[AvniD]

Hi @AvniD,

Thank you! I really appreciate that. Will have a look through and keep my fingers crossed all goes well.

All the best- fingers crossed for you too!

 

[hopefullyfuturetrainee]

Hi! Congrats on your offer!! I hope it goes well How long did it take for A&O to get back to you after the AC?

 

[baileyjozef]

Hi! Congrats on your offer!! I hope it goes well How long did it take for A&O to get back to you after the AC?

Thanks! I heard back exactly 3 weeks later, once they had interviewed all of the winter candidates 😁

 

[BEB]

Just wondering if anyone has any experience they are happy to share regarding what happens on A&O’s vac schemes as I haven’t been able to find too much!!

I’m attending the Winter one, and would really appreciate any tips regarding:
- technical preparation beforehand
- the sort of tasks one might undertake during the week
- advice for completing assessed work
- whether there is an exit interview and if so, what was it like?

Thank you!

Hey!

Congrats on the A&O WVS offer, I hope all went well! I have an upcoming AC with A&O and was wondering if you had any tips on how to prepare as this is my first AC?!! The case study interview sounds especially daunting!

Thank you so much!

 

[baileyjozef]

Hey!

Congrats on the A&O WVS offer, I hope all went well! I have an upcoming AC with A&O and was wondering if you had any tips on how to prepare as this is my first AC?!! The case study interview sounds especially daunting!

Thank you so much!

Well done for getting invited to the AC stage - the application stage is really competitive so you’ve already done well!! I’ve copied in some tips I sent to a friend a while back and covers most of the things I think are important to consider in the interviews but just let me know if you’d like any more info (and apologies in advance for how long this reply is!)😁

Hope this helps!

Case studies:

• These are usual based on a hypothetical M&A/banking/litigation scenario at the due diligence stage, so you will need to look through a bunch of information to essentially 'kick the tyres' of a target company for example.
• To begin, you’ll have a preparation stage where you need to look through a large bundle of information and prepare a short presentation answering a number of questions given to you at the beginning of the bundle. These are meant to be really time pressured and it's really important to focus on answering all the questions in the brief rather than reading everything super-in depth! If they ask you something you're not sure of, it's okay to flick back through and answer - be level headed and address the issue calmly.
• For case studies, I think the most important things to be are: solutions-focused, flexible and commercially aware
• By 'solutions-focused' I just mean that when you pick up any issues, try to suggest how you might go about addressing it. It’s no use spotting a red flag without saying why it’s an issue and how it can be solved/used to the client’s advantage!
  • For example, if there is a risk that key employees might leave after an acquisition, you might want to look at the possibility of using equity incentivisation to encourage them to stay for 'x' years after the transaction.
  • You might also find a mismatch in the sellers'/buyers' company valuations, so could suggest using an earn-out to pay the difference if the company meets an agreed performance target within 'x' years following the transaction.
• Being flexible just means that you need to be open to new suggestions, fighting your corner if you need to, but also admitting when you are wrong/something else is a better option.
  • As I mentioned above, it really helps to know that the interviewers aren't trying to catch you out. They want to see that you can reason sensibly and think on your feet when needed.
  • I misread a clause which the brief asked about (supplier had terminated the contract on this basis), to the effect that I bascially saw that a frustrating event occurred, so the whole contract was lawfully terminated. The interviewer walked me through and it actually turned out that further down, there were a number of provisions which meant that e.g. only the receiver could choose to terminate the contract. I acknowledged my previously incorrect position and changed accordingly.
• In terms of commercial awareness, I would say that you don't need any super in-depth knowledge about e.g. the price of lithium/kg in the new Brazilian mine, but just an awareness and understanding of key issues which might affect the transaction (e.g. right now: cost-of-living/energy prices, Online Safety Bill, semiconductor shortages) and how they might affect it, e.g. might cause supply chain issues or more expensive operations -> all of which can be used as leverage to reduce/increase the asking price for a target company.
• I recommend getting a basic understanding of company accounts e.g. what a balance sheet shows but don’t get too bogged down memorising all of the formulas if you can’t! At the end of the day we’re playing the role of a lawyer in the transaction, not the accountants. ( don’t take this as absolute gospel though!)
• Some typical problems + solutions I researched beforehand:
  • franchise agreements -> look further into contracts
  • Force majeur contracts -> more info. relied on before?
  • Market shares post-acquisition -> antitrust concerns? Due diligence into competition laws.
  • Bad press -> leverage for lower purchase price
  • Key employee wants to leave -> transition period? non-compete agreement? leverage? incentivisation?
  • Antitrust concerns/pre-existing litigation -> seek indemnities/warranties? seek conditions precedent saying transaction will not complete until proceedings/investigations have cleared
  • mismatch between seller & buyer valuations -> earn-outs/working capital adjustments?
• Other things to be aware of during due diligence:
  • Basic valuations e.g. market capitalisation/book value (this was actually already done for me on mine!)
  • General IP issues (transferability, ownership, litigation, encumbrances etc.)
  • Common solutions (warranties, indemnities, conditions precedent, earn-outs, share options, escrows)
  • Types of financing (equity, debt, private, public)
  • Cost-saving options (economies of scale, integrating supply chains, outsourcing etc.)
  • The process of an M&A transaction (watch: 'A&O: The Anatomy of a Deal')
  • M&A benefits (less competition, synergies, diversification etc.)
  • Leases (intended use, rent, maintenance, term)
  • Law teams involved in an M&A transaction and what they do (e.g. employment look at pension provisions & banking looks at financing)
  • Other key parties in M&A transactions (buyers, sellers, lenders, shareholders, regulators)
  • Pre-existing obligations/contracts (e.g. supply contracts, leases, machinery, IP)
• Situational Interviews:
  • For my assessment centre, I was given some scenarios e.g. 'a colleague has been making some mistakes?'. I would give my answer and then we would talk a bit more about e.g. would my response change if the colleague was more senior. I was then asked about a time where I had done something similar.
  • Finally, it’s a good idea to make sure you have something prepared in case you are asked the ‘why commercial law/A&O’-type questions! No idea if they do this for everyone but always good to be prepared.

 

[BEB]

Thank you so so much for this incredibly helpful and detailed reply! Lots of things I had not considered so I will be spending the next 10 days skilling up! Can't thank you enough for this

 

[baileyjozef]

Thank you so so much for this incredibly helpful and detailed reply! Lots of things I had not considered so I will be spending the next 10 days skilling up! Can't thank you enough for this

No problem at all. Let me know if I can help with anything else 😁 Good luck!!!!!

 

[AvniD]

Well done for getting invited to the AC stage - the application stage is really competitive so you’ve already done well!! I’ve copied in some tips I sent to a friend a while back and covers most of the things I think are important to consider in the interviews but just let me know if you’d like any more info (and apologies in advance for how long this reply is!)😁

Hope this helps!

Case studies:

• These are usual based on a hypothetical M&A/banking/litigation scenario at the due diligence stage, so you will need to look through a bunch of information to essentially 'kick the tyres' of a target company for example.
• To begin, you’ll have a preparation stage where you need to look through a large bundle of information and prepare a short presentation answering a number of questions given to you at the beginning of the bundle. These are meant to be really time pressured and it's really important to focus on answering all the questions in the brief rather than reading everything super-in depth! If they ask you something you're not sure of, it's okay to flick back through and answer - be level headed and address the issue calmly.
• For case studies, I think the most important things to be are: solutions-focused, flexible and commercially aware
• By 'solutions-focused' I just mean that when you pick up any issues, try to suggest how you might go about addressing it. It’s no use spotting a red flag without saying why it’s an issue and how it can be solved/used to the client’s advantage!
  • For example, if there is a risk that key employees might leave after an acquisition, you might want to look at the possibility of using equity incentivisation to encourage them to stay for 'x' years after the transaction.
  • You might also find a mismatch in the sellers'/buyers' company valuations, so could suggest using an earn-out to pay the difference if the company meets an agreed performance target within 'x' years following the transaction.
• Being flexible just means that you need to be open to new suggestions, fighting your corner if you need to, but also admitting when you are wrong/something else is a better option.
  • As I mentioned above, it really helps to know that the interviewers aren't trying to catch you out. They want to see that you can reason sensibly and think on your feet when needed.
  • I misread a clause which the brief asked about (supplier had terminated the contract on this basis), to the effect that I bascially saw that a frustrating event occurred, so the whole contract was lawfully terminated. The interviewer walked me through and it actually turned out that further down, there were a number of provisions which meant that e.g. only the receiver could choose to terminate the contract. I acknowledged my previously incorrect position and changed accordingly.
• In terms of commercial awareness, I would say that you don't need any super in-depth knowledge about e.g. the price of lithium/kg in the new Brazilian mine, but just an awareness and understanding of key issues which might affect the transaction (e.g. right now: cost-of-living/energy prices, Online Safety Bill, semiconductor shortages) and how they might affect it, e.g. might cause supply chain issues or more expensive operations -> all of which can be used as leverage to reduce/increase the asking price for a target company.
• I recommend getting a basic understanding of company accounts e.g. what a balance sheet shows but don’t get too bogged down memorising all of the formulas if you can’t! At the end of the day we’re playing the role of a lawyer in the transaction, not the accountants. ( don’t take this as absolute gospel though!)
• Some typical problems + solutions I researched beforehand:
  • franchise agreements -> look further into contracts
  • Force majeur contracts -> more info. relied on before?
  • Market shares post-acquisition -> antitrust concerns? Due diligence into competition laws.
  • Bad press -> leverage for lower purchase price
  • Key employee wants to leave -> transition period? non-compete agreement? leverage? incentivisation?
  • Antitrust concerns/pre-existing litigation -> seek indemnities/warranties? seek conditions precedent saying transaction will not complete until proceedings/investigations have cleared
  • mismatch between seller & buyer valuations -> earn-outs/working capital adjustments?
• Other things to be aware of during due diligence:
  • Basic valuations e.g. market capitalisation/book value (this was actually already done for me on mine!)
  • General IP issues (transferability, ownership, litigation, encumbrances etc.)
  • Common solutions (warranties, indemnities, conditions precedent, earn-outs, share options, escrows)
  • Types of financing (equity, debt, private, public)
  • Cost-saving options (economies of scale, integrating supply chains, outsourcing etc.)
  • The process of an M&A transaction (watch: 'A&O: The Anatomy of a Deal')
  • M&A benefits (less competition, synergies, diversification etc.)
  • Leases (intended use, rent, maintenance, term)
  • Law teams involved in an M&A transaction and what they do (e.g. employment look at pension provisions & banking looks at financing)
  • Other key parties in M&A transactions (buyers, sellers, lenders, shareholders, regulators)
  • Pre-existing obligations/contracts (e.g. supply contracts, leases, machinery, IP)
• Situational Interviews:
  • For my assessment centre, I was given some scenarios e.g. 'a colleague has been making some mistakes?'. I would give my answer and then we would talk a bit more about e.g. would my response change if the colleague was more senior. I was then asked about a time where I had done something similar.
  • Finally, it’s a good idea to make sure you have something prepared in case you are asked the ‘why commercial law/A&O’-type questions! No idea if they do this for everyone but always good to be prepared.

Wow @baileyjozef this is so incredibly detailed! I'm sure that our community will benefit from the insight you've shared for a really long time to come! I completely agree with what you've said about being flexible + solution-oriented. Demonstrating these traits instantly make you stand out in an AC!

Are you currently applying for TCs or have a TC already? Would love to see you share more posts about your journey!

 

[baileyjozef]

Thank you @AvniD! I really hope people can find it helpful - I wouldn't have succeeded in my AC without other people being kind enough to share their own tips so it feels right to do the same 😊.

Regarding TCs, I was fortunate enough to have been offered one with A&O following their vacation scheme in December, so will be joining the firm in March 2025!!

 

[Jessica Booker]

Thank you @AvniD! I really hope people can find it helpful - I wouldn't have succeeded in my AC without other people being kind enough to share their own tips so it feels right to do the same 😊.

Regarding TCs, I was fortunate enough to have been offered one with A&O following their vacation scheme in December, so will be joining the firm in March 2025!!

This is amazing news - congratulations!

 

[AvniD]

Thank you @AvniD! I really hope people can find it helpful - I wouldn't have succeeded in my AC without other people being kind enough to share their own tips so it feels right to do the same 😊.

Regarding TCs, I was fortunate enough to have been offered one with A&O following their vacation scheme in December, so will be joining the firm in March 2025!!

Smashing! So happy for you 😊I really commend you for trying to pay forward the help you received when you were applying! Now that you have your TC, please do consider joining our Junior Lawyers' Community by filling this form here - we'd love to see you post as a future trainee and beyond!

 

[baileyjozef]

This is amazing news - congratulations!

Thank you 😊 😊

 

[trinerin]

Thank you @AvniD! I really hope people can find it helpful - I wouldn't have succeeded in my AC without other people being kind enough to share their own tips so it feels right to do the same 😊.

Regarding TCs, I was fortunate enough to have been offered one with A&O following their vacation scheme in December, so will be joining the firm in March 2025!!

Hi Bailey,

Congratulations on your TC offer! It’s very uplifting to read about your successful journey through the various comments in this thread 😊

I’m due to join the firm for their summer VS and I was wondering if you possibly had any advice looking back on your time with the firm regarding technical preparation etc. Did you have an exit interview?

 

[shreya.mehta]

Hi @baileyjozef @trinerin I am expected to complete the interactive assessment for A&O and was hoping if you could guide me how to prepare and what kind of questions should I be expecting for the 2 video interview kind of questions?

 

[baileyjozef]

Hi @baileyjozef @trinerin I am expected to complete the interactive assessment for A&O and was hoping if you could guide me how to prepare and what kind of questions should I be expecting for the 2 video interview kind of questions?

Thanks for asking! I’m not actually too sure how the new assessment works as they’ve only just introduced it but I believe the questions they use have remained fairly similar to the standard expected ones. The questions that tend to come up often cover 2 things: (1) your general motivations for law/a career with the firm, and (2) something commercially-oriented, often looking at identifying market trends/updates and requiring you to think about how they might affect the firm/business/clients etc. These questions are generally intended for you to showcase some commercial awareness so keep that in mind when preparing.

Other questions I’ve seen in previous (unsuccessful) applications to A&O include: describing a challenge you overcame and how you learned from it, and ‘if you could create a new law, what would it be and why?’

There’s quite a broad bank of questions but I would personally say some things to focus on when preparing are: your motivations for a career in law, your motivations for applying to the specific firm & why you would be a good fit, and perhaps identifying & reading up on a couple of broad market trends which you could use for the commercial questions, if they come up.

Hope this helps but feel free to reach out if you have any other questions!

 

[Shreya Verma]

Thanks for asking! I’m not actually too sure how the new assessment works as they’ve only just introduced it but I believe the questions they use have remained fairly similar to the standard expected ones. The questions that tend to come up often cover 2 things: (1) your general motivations for law/a career with the firm, and (2) something commercially-oriented, often looking at identifying market trends/updates and requiring you to think about how they might affect the firm/business/clients etc. These questions are generally intended for you to showcase some commercial awareness so keep that in mind when preparing.

Other questions I’ve seen in previous (unsuccessful) applications to A&O include: describing a challenge you overcame and how you learned from it, and ‘if you could create a new law, what would it be and why?’

There’s quite a broad bank of questions but I would personally say some things to focus on when preparing are: your motivations for a career in law, your motivations for applying to the specific firm & why you would be a good fit, and perhaps identifying & reading up on a couple of broad market trends which you could use for the commercial questions, if they come up.

Hope this helps but feel free to reach out if you have any other questions!

Thank you so much for your help. Hope I make it past the application stage (fingers crossed).

 

[baileyjozef]

Thank you so much for your help. Hope I make it past the application stage (fingers crossed).

No worries at all - good luck 😄