TCLA Vacation Scheme Applications Discussion Thread 2021-22 (#1)

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tt_xo

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What are peoples thoughts on how many reasons you should give on why X firm in an interview context? I decided on practising by giving 2 reasons, however my mentor said I should do 3. I am just conscious of talking for too long. What do you guys things?
 

Adrian_S

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I have to say, seeing you all deal with your PFOs lightheartedly and while supporting each other has me in awe of the forum 👏👏👏 You're all absolute stars!!!

I also deal with PFOs the old fashioned way - getting blackout drunk and watching drag race.

But seriously, you all are getting me through this cycle.
 
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LEL

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The process of preparing for ACs:

T-4 days: "Just need to know every single fact out there about the firm and I'm good to go... ugh this research is never ending... why have they worked on so many deals"
T-3 days: "I don't think my brain can hold all this information... ffs do I even want to be a lawyer"
T-2 days: *crippling imposter syndrome* "should I tell them my pet tortoise died so I can rearrange"
Day before: "... you know what, there's only so much they can ask me in a 40 minute interview, they probably won't ask me on that so I can skip it"
Morning of: *desperately hoping your brain will be able to magically concoct some bs if you get a difficult question*
Post AC: *critically and intensely analysing and overthinking every word you said and every action you made* "meh it is what it is"
 

Rob93

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What are peoples thoughts on how many reasons you should give on why X firm in an interview context? I decided on practising by giving 2 reasons, however my mentor said I should do 3. I am just conscious of talking for too long. What do you guys things?
If you have three things that are meaningful to you, prepare three things and focus on whatever is most important - if the two things you've prepared are really your key drivers, I personally wouldn't spend time on a throwaway point or something that is clearly an afterthought.

If the concern is running over, focus on getting comfortable delivering the key points succinctly and coherently without rushing through.
 
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S87

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May ask something to the people interested in PE?
Recently there has been a massive shopping spree of British companies by US PE funds. Do US funds pay taxes on these acquisitions?
 

Asil Ahmad

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    May ask something to the people interested in PE?
    Recently there has been a massive shopping spree of British companies by US PE funds. Do US funds pay taxes on these acquisitions?
    Yes as far as I know PE firms are subject to the carried interest which is subject to CGT (Capital gains tax) so when invest in a company and you buy assets of that company and if you as a PE firm make a profit then you must pay CGT on the profit made.
     
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    Asil Ahmad

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    Yesterday I attended the Travers Smith event with Vantage.

    A few things the graduate recruitment said.

    1) Their application deadline is on Monday night so on 23:59 on the 11th. But she did say don't submit it on the night of the deadline as the system tends to be slower towards the deadline because of so many people applying.

    2) She said that they received 2K applications for vacation scheme application last year and if you reached an interview or done an interview at Traves Smith before then you can't apply again.

    3) She said when discussing a deal it can be from a few years ago as long as you have an interest in that deal.

    4) Keep the cover letter no longer than 1 side of A4 paper.
     
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