I don't think there is a right or wrong answer/approach here. It depends on what you feel comfortable with, and whether you want to do more vac schemes. You say you've done a couple (ps well done), so that should/will help a lot with applications/work experience sections, some of the questions and type of law firm you want to work at. Personally I don't see value in doing more unless it's the only option to get a TC at a firm
Things to however consider:
- Some firms recruit trainees directly from vac schemes. There's no other way in as they don't have a direct training contract option. So this pretty much makes the decision for you - have to apply for a vac scheme
- Like you've mentioned some firms don't actually recruit heavily from their vac scheme. They're open to directly training contract applications. Most will say this on their websites. Not sure what truth there is in this, but I heard that the larger the number of trainee places a firm has, the less likely it is that they will fill all of these from their vac scheme
- I've noticed a few firms give a very strong hint on their website whether its best to apply for a vac scheme or direct training contract. Particularly, the US firms. This has tended to imply applying for a vac scheme is best.
- A vac scheme gives you a couple of weeks to impress and be remembered, after you've been assessed and got in. For direct training contracts, you're solely relying on assessment.
- Be mindful that some firms only allow one application either for vac scheme or training contract. Pick carefully.
- For some firms, you can apply for a vac scheme and training contract together in the same application. I think that was the case with
bclp this year.
- Vac scheme deadlines are early than Training Contracts, for some firms. Why not apply for a few vac schemes and see how you go. Then from January when a lot of vac schemes close, you've got around 6 months to focus on direct training contract applications.
I'd suggest analysing the websites for firms you really want to apply to. See what they say about which route to take. e.g HSF, CMS, DLA clearly state they are only going to take on trainees from vac schemes. Try and meet them if possible or reach out to them and ask on a preferred route. Perhaps with another interesting question, so that it's not just about which route to take.
It's not so black and white, but hope the above helps to give you something to think about when deciding.