TCLA Vacation Scheme Applications Discussion Thread 2023-24

[Percypig12]

Wondering how to go about this question "Choose one of our clients and explain a challenge they are currently facing. What could the organisation do to overcome this challenge and how could we assist?"
Should it be a general challenge specific to their industry or a very specific one that only their company is facing that I know about from the news? How can I go about the second half?

Haven't applied to Bakers but I think either approach works. But if you pick an issue facing the whole sector I would make sure still to explain exactly how that affects the company. e.g. you might pick interest rates and their impact on a PE client (bit boring but this is just a hypothetical example). How does it impact the PE client specifically? Do their portfolio companies have more floating rate debt than other funds? Are they particularly struggling to return capital to LPs?

Then for the second limb of the question look at the firm's practice areas and think what solutions they could offer. e.g. a funds team might help set up a continuation fund to provide liquidity for some of the client's LPs while maintaining exposure to the asset. Or maybe the restructuring team could help the portfolio companies restructure their debt. Or maybe the finance team could help the client raise capital to fund LP payouts (look up net asset value financing).

This is a very generalised example but basically do your research and really tailor it to the client you're referring to

 

[desperateTCseeker1998]

Hey, I got to Bakers Spring AC this year, and I used a big tech client as my example. I was pretty specific in mine:

- Spoke about the general increase in AI development, and how legislation like the EU's AI Act will come into force and ensure AI models do not hold bias or discriminate etc. Then basically said: X practice can help with this. Y practice can help with this and explain how these practice groups would benefit the client.

- Also spoke about the Digital Markets, Competition, and Consumer Bill (UK) and how that may impact M&A activity. Mentioned restructuring to avoid new competition thresholds and the antitrust team to complete due diligence on M&A activity to ensure compliance with CMA.

The first one is more or less what I was planning to do so super helpful! Do you think you can use two different examples then so long as it's the same client?

Haven't applied to Bakers but I think either approach works. But if you pick an issue facing the whole sector I would make sure still to explain exactly how that affects the company. e.g. you might pick interest rates and their impact on a PE client (bit boring but this is just a hypothetical example). How does it impact the PE client specifically? Do their portfolio companies have more floating rate debt than other funds? Are they particularly struggling to return capital to LPs?

Then for the second limb of the question look at the firm's practice areas and think what solutions they could offer. e.g. a funds team might help set up a continuation fund to provide liquidity for some of the client's LPs while maintaining exposure to the asset. Or maybe the restructuring team could help the portfolio companies restructure their debt. Or maybe the finance team could help the client raise capital to fund LP payouts (look up net asset value financing).

This is a very generalised example but basically do your research and really tailor it to the client you're referring to

Also really helpful thank you!!!

 

[Deleted member 27336]

The first one is more or less what I was planning to do so super helpful! Do you think you can use two different examples then so long as it's the same client?

Also really helpful thank you!!!

I prefixed my answer by saying: 'increased legislation in the technology sector'. Both my examples fell under this, so if you do something similar, I can't imagine you will have any problems!

 

[desperateTCseeker1998]

I prefixed my answer by saying: 'increased legislation in the technology sector'. Both my examples fell under this, so if you do something similar, I can't imagine you will have any problems!

Hahaha exactly what I was going to do but a different bill for the second example! Thanks for your advice!!

 

[Scarlett27]

Does anyone have any advice on how to answer this questions:

Give an example of a recent legal decision that is relevant to Bevan Brittan's business which you strongly agree or disagree with. Why?

Not sure what legal decision to base this on, any tips would be much appreciated!

 

[anonymouscatboy]

Guys, if you could choose between Slaughter and Linklaters for a vacation scheme, which would you go for a why?
I haven't heard from Slaughters yet, but I'm really curious to see why people might choose one over the other.

 

[Seven]

Guys, if you could choose between Slaughter and Linklaters for a vacation scheme, which would you go for a why?
I haven't heard from Slaughters yet, but I'm really curious to see why people might choose one over the other.

Without this thread getting derailed about strong opinions of Slaughters, I would suggest searching through comments made on Slaughters already in this thread. Your best bet would be Linklaters.

 

[anonymouscatboy]

Without this thread getting derailed about strong opinions of Slaughters, I would suggest searching through comments made on Slaughters already in this thread. Your best bet would be Linklaters.

I've thought this as well, Links seem better in terms of culture and secondments, but Slaughters has had over 90% trainee retention rate since 2017 and seems to outperform Links in that area. If trainees are choosing to stay at the firm, maybe the culture is not as bad?

 

[Seven]

I've thought this as well, Links seem better in terms of culture and secondments, but Slaughters has had over 90% trainee retention rate since 2017 and seems to outperform Links in that area. If trainees are choosing to stay at the firm, maybe the culture is not as bad?

It's not so much about the culture. There is a reduced demand for legal services due to market uncertainty and therefore less NQ roles available at other firms. Many firms are facing challenges, leading to a rise in redundancies. Therefore, trainees opting to stay at a firm with a stable retention rate may be influenced by the perceived job security offered by the firm where they've received their training. Choosing to stay at a firm with a high trainee retention rate may be a pragmatic decision, especially when NQ/associate roles are scarce.

 

[TheLawSucks]

I've just realised I'm only at 2nd of 4 stages for a spring VS application and not sure it's rolling when I thought it was summer all this time. Would you say I should expect PFO because of it being so close in time (spring vs summer)?
I only received the 2nd stage tests a couple of days ago tho so I'm wondering how they're approaching it and there is people at the AC stage already - I genuinely don't know what to expect

Honestly, I wouldn’t overthink it, just wait until you hear back. My friend was once offered a space on a summer vacation scheme even though she had applied for spring, because her AC ended up being days before the spring vacation scheme so she didn’t have enough notice

 

[tanamontana]

In the same boat, unsure what to do. The 29/02 deadline looks more official but also feels risky to go with the later one...

I just received an email saying it was extended to the 29th so it’s not tomorrow hahaha

 

[Jessica Booker]

Out of interest, say you did a TC with a firm and then decided to take a few months off between qualification and your NQ position, would this be looked down upon by firms?

Some firms offer a period of NQ leave, but not all do. If a firm does, taking the NQ leave is not going to be frowned upon because it’s a policy provided to everyone qualifying. The department you qualify into can ask you to delay it though (due to work demands).

If a firm doesn’t offer it, it would be quite difficult to take a period of leave of a few months, but you could speak to the firm about taking a period of annual leave/unpaid leave instead.

 

[tcplease2345]

Any word from SH post app for their summer scheme?

 

[Amehta1]

@Jessica Booker @axelbeugre ahead of my assessment centre tomorrow I just wanted to know some ways to build a rapport with the interviewers. The interview will be conducted online with one associate and one member of Grad recruitment and I’m just worried how I can build that rapport in an online setting. Any tips and suggestions?

 

[TC seeker]

Anyone hear back from NRF？

 

[nonlawstudent04]

I just received an email saying it was extended to the 29th so it’s not tomorrow hahaha

same luckily haha

 

[isTeapp]

Anyone else still waiting on Dechert post VI?

 

[Jessica Booker]

@Jessica Booker @axelbeugre ahead of my assessment centre tomorrow I just wanted to know some ways to build a rapport with the interviewers. The interview will be conducted online with one associate and one member of Grad recruitment and I’m just worried how I can build that rapport in an online setting. Any tips and suggestions?

Make sure you look at the camera rather than the scream as this will give the illusion of eye contact.

Ensure that you smile too!

Listen attentively when their introduce themselves. It may be that they say something that is interesting to you that can then inform what type of questions you ask later on in the interview

Don’t be afraid to be conversational outside of the interviews - small comments like thanking them for their time can be small but nice touches

If they offer you to ask at the end, make sure you have questions to ask them that helps you find out more about the firm or the opportunity you are applying to.

 

[Hannah02]

Hey everyone! This is my first time posting here as I'm in a situation I'm quite upset about and would like some advice.

About a week ago, I had an assessment centre at a firm I was very keen on (I won't disclose which as I'm not sure I feel comfortable doing that). I feel the day generally went well and although the case study was quite difficult, I didn't think I performed *too* badly. There were 5 other people here on the day and everyone was really friendly, so didn't think anything was off and we all added each other on LinkedIn when there was a break period in the day after another candidate suggested we do so.

However, when the day was over, one of the other candidates hugged the Grad Rec member and said "it was great to see you Kathy, hopefully see you again in the next few weeks". When someone asked what she meant by this, she said she was a long-term family friend. This immediately seemed unfair to me; I don't know how strong her application was and she may have deservedly been there on her own merit, but it just made me feel uncomfortable. She said she hadn't performed too strongly throughout the day too, which I feel is worth bearing in mind.

Earlier this week, I was rejected from the firm. I'm obviously disappointed but it's just one of those things. Nevertheless, when scrolling through LinkedIn, I saw the other girl post that she had successfully landed a VS at the firm. I instantly felt like the whole process was completely unfair and she had gained a place because she had internal contacts. If I'm honest, this upset me just as much as the rejection itself knowing I was up against what I feel was a nepotistic candidate.

Part of me wants to write to the firm and say how I feel this is unjustified, but I know that won't achieve anything. I'm female, state educated and have attended a non-RG university, so I already feel I've had to work harder than many other applicants just to be in this position. It feels like a slap in the face. Am I right to be annoyed or is this just commonplace in the City and something you just have to suck up?

 

[HLL]

this bloody business of vi...i just cannot deal with it anymore hahaha