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

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on average, how long after ACs do u find out if you have been offered a place? is it till all ACs have been completed?

It’s so dependent on the firm. Some will get back to you that day or the day after. Others will let you know after all the ACs are up.

Did you ask the firm when you could expect a reply?
 
I would like to ask how people answer questions like 'how our firm differentiate itself from our competitors?' In what way should we define competitors, and in what perspective should we look from?

Practice areas, type of firm (e.g. US firm), industry sectors, business model of the firm (e.g. Swiss partnership) and geographical office locations are some factors. Shearman & Sterling have a question like this on their app i.e. how are they able to maintain their competitive advantage. So you gotta look at their profile as a firm, think what they have to offer, what type of firm they are etc. Then what separates them from other US firms? What about their practice areas offerings and industry sector specialisations make them different to other firms? Where have they set up their offices and for what reasons? Do they have a firmer stronghold in emerging markets than other similarly large international firms? Once you look at these factors combined, you'll see the firm has a unique standing in the market.
 
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