TCLA General Discussion Thread #2 (2021)

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Jaysen

Founder, TCLA
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M&A Bootcamp
  • Feb 17, 2018
    4,723
    8,661
    Got a TC offer just an hour earlier- still buzzing! 😁😁 Can't wait to move to the City 🏙️.

    This was my second cycle, and I got other VS's this year where I didn't convert. Keep going everyone, you will get there eventually. Congratulations to everyone else who also heard good news recently!

    I've known this news for a while now, but I've now been given permission to share it.

    Guys, I got the call.

    I've been offered a Training Contract with TLT!

    I remember turning up to my first AC wearing £5 ASDA pumps that I'd had to superglue the night before as I couldn't afford to buy a new pair of smart shoes. I genuinely thought it was never going to happen to me, but it did.

    I've not been as active on here recently as I felt like I needed to take a break from the online world for my mental health, this in combination with starting a new non-legal job meant I've felt a bit out of touch with the community here but I just wanted to say how much this forum has helped me. All the advice, all the support, all the positivity that this community has given me the past few years has made such a difference.

    I think it is important to say that I am not a legal or commercial awareness genius. I worked really hard, and got lucky.

    If anyone needs advice there are much more qualified folk, but please feel free to drop me a message. So many people have helped me along the way and its so important to pay it forward! I can't wait to become more active in this community again.

    To give you some perspective the past three or so years I must have sent about 100 applications. I sent my first vacation scheme application in 2018. I got two vacation schemes, and one TC offer. You just need one yes.

    Amazing to read this guys, absolutely delighted for you!
     

    SouffléSouffléSoufflé

    Valued Member
    Future Trainee
    Mar 17, 2020
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    Didn’t manage to convert one of my vacation schemes to a Tc very devastating at this point 😓

    I'm so sorry, it's such a tough process. Treat yourself, take a break and try not to be hard on yourself. The fact you secured a vacation scheme is testament that you a strong candidate and in itself such an achievement!
     
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    Jacob Miller

    Legendary Member
    Future Trainee
    Forum Team
  • Feb 15, 2020
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    Hi guys! Would you say PE falls under corporate or finance/banking? I am just a bit confused on where the practice is located within a firm.
    It depends a lot on the firm. Broadly, PE teams will sit in a transactional department but it really is it's own beast so I always discourage candidates from seeing it as "a branch of M&A" or something similar.
     
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    It depends a lot on the firm. Broadly, PE teams will sit in a transactional department but it really is it's own beast so I always discourage candidates from seeing it as "a branch of M&A" or something similar.
    Hi Jacob! Thanks for your response- I was actually writing about being attracted to a firm's finance practice. I noticed just a few hours ago that they also have started developing their PE practice and wanted to talk about this. My confusion came as it was linked as "related services" under the firm's finance page. I get how PE can be considered finance but I'm not actually too sure as it could also be M&A. Would it be wiser to omit this point?
     

    Jacob Miller

    Legendary Member
    Future Trainee
    Forum Team
  • Feb 15, 2020
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    Hi Jacob! Thanks for your response- I was actually writing about being attracted to a firm's finance practice. I noticed just a few hours ago that they also have started developing their PE practice and wanted to talk about this. My confusion came as it was linked as "related services" under the firm's finance page. I get how PE can be considered finance but I'm not actually too sure as it could also be M&A. Would it be wiser to omit this point?
    Not necessarily- if a given firm treats PE as a branch of their finance practice, then engage with it as such for that application. This links back to the general principal that you always want to tailor an application to the particular firm; ignoring its team structure in that regard wouldn't be consistent with that objective.
     
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    Deleted member 2707

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    Not necessarily- if a given firm treats PE as a branch of their finance practice, then engage with it as such for that application. This links back to the general principal that you always want to tailor an application to the particular firm; ignoring its team structure in that regard wouldn't be consistent with that objective.
    Perfect, thanks so much for this Jacob!
     

    Alex3107

    Star Member
    Future Trainee
  • Jan 28, 2021
    29
    95
    Hi guys! I have just been offered a TC with a firm I really really like, but I am quite worried about expenses during the LPC. I know firms offer some form of financial help, but I was considering trying to do the LPC LLM so I can access the postgrad loan. I have two questions:

    1) would the firm be opposed to me doing that? (I will talk to Grad Rec later this week)
    2) is it considerably more work, to the point where it’s difficult to cope?

    Thanks so much!
     

    Wannabelawyer10

    Well-Known Member
    Feb 27, 2021
    23
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    Apologies if this is triggering for anyone considering the difficult cycle we've had, but how do I go about rejecting a TC offer? Do I just reject the contract they sent me or is it considered polite to send an email?
     

    Daniel Boden

    Legendary Member
    Trainee
    Highest Rated Member
  • Sep 6, 2018
    1,537
    3,859
    Apologies if this is triggering for anyone considering the difficult cycle we've had, but how do I go about rejecting a TC offer? Do I just reject the contract they sent me or is it considered polite to send an email?
    Always best to call the firm and explain why you're rejecting the TC and then send a follow-up email confirming the phone call you had in my experience
     
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    Anon 11031

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    Hi guys! I have just been offered a TC with a firm I really really like, but I am quite worried about expenses during the LPC. I know firms offer some form of financial help, but I was considering trying to do the LPC LLM so I can access the postgrad loan. I have two questions:

    1) would the firm be opposed to me doing that? (I will talk to Grad Rec later this week)
    2) is it considerably more work, to the point where it’s difficult to cope?

    Thanks so much!
    Hey!

    Congrats on the TC! 🎉 I presume based on what you have said that your firm are not paying for the fees of your LPC?

    To answer the questions you asked:

    1. I can't see why they would. But you're doing the right thing to email them, I suppose they're the only ones with a definite answer.

    2. From what I've been able to discern about the LPC (at ULaw) adding the LLM means that you get to choose an extra elective (or the Law and Business module) and you have to complete a 3000 word legal research report (to which the titles are preselected). Honestly, adding the LLM or MSc doesn't seem to make the overall course much more difficult. You can find much more specific information here (for ULaw), I can't tell you I know a great deal about BPP.

    I hope they don't mind me saying but @karinny kindly shared this information with me, and it's helped put my mind at ease about the LLM.

    I hope this helps!
     
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    Alice94

    Active Member
    Nov 27, 2019
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    Hi guys! I have just been offered a TC with a firm I really really like, but I am quite worried about expenses during the LPC. I know firms offer some form of financial help, but I was considering trying to do the LPC LLM so I can access the postgrad loan. I have two questions:

    1) would the firm be opposed to me doing that? (I will talk to Grad Rec later this week)
    2) is it considerably more work, to the point where it’s difficult to cope?

    Thanks so much!
    Congratulations on the TC offer! Definitely speak to graduate recruitment as I can't see them being opposed to you sitting the LLM. I sat the LLM last year and it requires you to undertake an additional elective and essay. I think if you are organised then it shouldn't be too difficult to manage! Best of luck ☺️
     
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    Alex3107

    Star Member
    Future Trainee
  • Jan 28, 2021
    29
    95
    Thank you so much everyone!
    The firm is paying for the LPC, but I am international and I’m anxious the help they give won’t be enough to cover accommodation and living costs!
    But thanks so much for all the information!
     

    Jessica Booker

    Legendary Member
    TCLA Moderator
    Gold Member
    Graduate Recruitment
    Premium Member
    Forum Team
    Aug 1, 2019
    14,666
    20,360
    Hi guys! I have just been offered a TC with a firm I really really like, but I am quite worried about expenses during the LPC. I know firms offer some form of financial help, but I was considering trying to do the LPC LLM so I can access the postgrad loan. I have two questions:

    1) would the firm be opposed to me doing that? (I will talk to Grad Rec later this week)
    2) is it considerably more work, to the point where it’s difficult to cope?

    Thanks so much!
    1) not opposed to it - they will understand your reasoning for it, they may just say trust you have to finance the LLM part. They may say they can’t support it though, dependent on your start date and whether you would have finished the LLM in time to start a TC. There is nothing to lose by asking them though - I am sure they have had this conversation many times before.

    2) I think it depends on how you like to work. I know some people have found it relatively straight forward and planned it so it wasn’t hard work. I know others who have left it pretty late on, struggled with other commitments, or just generally preferred other methods of assessment and so found it more difficult than others.
     

    Jessica Booker

    Legendary Member
    TCLA Moderator
    Gold Member
    Graduate Recruitment
    Premium Member
    Forum Team
    Aug 1, 2019
    14,666
    20,360
    Apologies if this is triggering for anyone considering the difficult cycle we've had, but how do I go about rejecting a TC offer? Do I just reject the contract they sent me or is it considered polite to send an email?
    It’s polite to call the Graduate Recruitment team to explain your decision. They will typically ask you to follow up with an email so they have your decline in writing.
     
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