TCLA Vacation Scheme Applications Discussion Thread 2024-25

[TC129129]

just received Winston WG

 

[Egco]

Anyone heard back from Mishcon post summer AC?

 

[1123tripod]

This is extremely harsh especially because you weren’t even asked a question directly in relation to this and seems to me like you indirectly prove your commitment in your answers

Really scared now as an international student myself! You are clearly a great candidate and I’m sure you’ll get an offer elsewhere

I believe (and hope) that this experience was an anomaly - many of my international friends have secured VS & TC offers this cycle & the feedback from my other AC did not focus on my background in the slightest! As non-natives, we unfortunately have extra hurdles in the recruitment process immigrationally, financially, and naturally, but they are surmountable, as others have done before us. Wishing you the best of luck with your applications💫

 

[Overthinker123!]

As @Jessica Booker said I think this will depend on the details of your situation, but I think if you have genuine questions that a partner would be well-placed to answer it would likely be fine to take them up on the offer. I was in this situation as well last year when following the VS a partner at a firm called me and offered to keep in contact and answer any questions during the period I was deciding on the TC offer. We ended up having two 15/20 minute conversations which helped me understand the firm's market position, competitors, and strategy in a lot more depth. I could tell the partner did not mind speaking with me at all about this; if anything, they seemed to actually enjoy helping me out.

Thank you @Andrei Radu! Your insights and own experiences are genuinely so helpful, as well as Jessica's. Really appreciate all the help

 

[toad92]

Just got feedback post AC, and I was rejected because my interviewers were "uncertain about my commitment to the UK" (international candidate, recent graduate from RG London, some work experience in my home country). I am not sure how my interviewers assumed that given: I was not asked anything about my commitment to the UK, and I did make a case about training in the UK (spoke about how I chose to study law in the UK in the first place, cited diversity and opportunities to deal with international law) while answering "why our firm". I was told I was a "fantastic" candidate otherwise, with a unique background and fresh perspectives. Not only am I unsure how to deal with this going forward, but this remark has left a sour taste - it feels like a cop-out, biased way to reject international candidates.

They are just making this stuff up i swear, they literally couldn’t find anything negative to say about you and had to make something up - so I wouldn’t let it get to you, if the firm were to be discriminating purely based on nationality then it’s probably better not to have them as your employer…

My brother works at a big consulting firm that recently axed half of its grad scheme, apparently based on ‘merit’ but an overwhelming number of the ones who were cut were internationals

These firms are already rolling in money yet still do anything to save pennies and get them back in their pocket

 

[badmintonflyinginsect]

x

 

[LB24]

Did they email you or was it over the phone? Also how long after your AC?

I got the VS offer as well, it was in an email and it was 3 days after the AC but there were 3 AC dates and I was in the last one so I think it depends on what date you did the AC

 

[Ali2020]

I did it but not in a group. Was disappointed tbh, would have liked to hear others' answers. It's just 3 VI-style questions, no follow-up, maybe a couple of minutes per question (entirely up to you). Had i been in a group it would have been the same but you'd have got to hear other peoples' answers first (or not, if you are the first one to answer).

I just completed it and it was 3 questions but I dont know if it was great doing within a group.... It definitely threw me off a bit and makes you self conscious how strong other candidates are :/

 

[Jessica Booker]

During a VS if we’re mostly and more naturally given work by trainees (particularly our trainee buddy) rather than our supervisor (because they don’t necessarily have much we can help on at the moment), is that problematic, how would it reflect in feedback given? (Assuming our supervisor knows what tasks we’re doing and what we’re up to throughout the day, and assuming we also speak to them on a daily basis so they know we’re present). Thanks in advance for your advice

This is really not an issue - I wouldn't worry about this as it is very normal.

If you/your department are very quiet, maybe ask your supervisor if there are any old tasks that maybe a trainee did for them that you could effectively replicate that you could then compare the trainee's output too and get feedback from the supervisor and/or trainee on.

 

[Jessica Booker]

Just got feedback post AC, and I was rejected because my interviewers were "uncertain about my commitment to the UK" (international candidate, recent graduate from RG London, some work experience in my home country). I am not sure how my interviewers assumed that given: I was not asked anything about my commitment to the UK, and I did make a case about training in the UK (spoke about how I chose to study law in the UK in the first place, cited diversity and opportunities to deal with international law) while answering "why our firm". I was told I was a "fantastic" candidate otherwise, with a unique background and fresh perspectives. Not only am I unsure how to deal with this going forward, but this remark has left a sour taste - it feels like a cop-out, biased way to reject international candidates.

I completely understand your frustrations here. However, based on your brief post (so I am making some quick assumptions), it may just come down to use of language and how that is interpreted.

For instance, if you used language like "training in the UK" without further reference to the career opportunity beyond training, it may come across like you are only focused on the training opportunity, which could have caused the interviewers to think you didn't have a longer term commitment.

 

[Andrei Radu]

@Ram Sabaratnam @Andrei Radu what are some pre-deal protections for a client you'd want when drafting the SPA for a share for share merger? looking at locked box/completion accounts, exchange ratio (?), and making warranties effective?

I think the types of protections you would want depend on the side of the side of the deal you are on and the specifics of the commercial agreement, but, in general, we would look at some of the terms you mentioned:

• Locked box vs completion accounts: these terms are used to offer protection during the period between signing and completion. If a lock box structure is chosen, the price of the purchased is fixed depending on the balance sheet of a company at a given date. The seller will agree to ensure there is no 'leakage' of value after this date (ie no dividents or intracompany payments) and warranties and indemnities will be provided in this regard. Completion accounts structures instead stipulate price adjustments depending on the value and financials of the target business on closing. This is considered more buyer-friendly, as it ensures they are getting exactly their money's worth, but it tends to be slower, more unpredictable, and prone to causing disputes - which is why sellers normally prefer using a locked box structure.
• Exchange ratio: this is particularly important in England, as there is no legal concept of a merger. As such, the process a deal goes through many times involves an acquisition of a "target", but where the target's shareholders receive shares in the "buyer's" company instead of cash. The share exchange ratio just refers to the ratio between the number of shares the target company's shareholders get and the number of shares they give up. Here, we can again have either a fixed exchange ratio or a "floating" one, the later being meant to capture fluctuations of the value of the buyer's shares (however, there will normally be a stipulated upside/downside cap). To ensure protections for sellers, there would normally be some anti-dilution terms included in the deal, to limit the buyer's ability to dilute the shareholders' shareholding by issuing new shares without their consent.
• Effective warranties: to make warranties effective a the buyer will want to use the broadest language possible, so as to ensure that they can make the seller pay for damage caused by any issue in the company. The seller, on the other hand, will look to make the language and scope as restrictive and qualified as possible, aiming to limit potential liability.
• Material adverse change clause: this is a particularly important seller protection, as it gives them the right to walk away from the deal if the target company's business undergoes a material adverse change caused by a significant negative incident before closing.

 

[jojo23]

Starting the day off strong with a BBC rejection 🥵

 

[Legallywhatever]

Hope Michelmores sends out something today 🙏🏼

 

[👩🎓]

Hi @Jessica Booker, what is your advice on following up with firms - i.e., for application updates?

 

[Jessica Booker]

Hi @Jessica Booker, what is your advice on following up with firms - i.e., for application updates?

General rules:

Do you need an answer or do you just want an answer? If there is an actual need (e.g. you need to know for other recruitment processes/commitments), then it is okay to ask. If it is just to give you some reassurance, I generally say avoid asking and trying to sit it out.

If you know many other candidates have heard back and you haven't, it is okay to ask when you may hear back. If it sounds like many candidates are waiting to hear back, then I would just be patient and wait.

If a firm provided a timeline as to when you would hear back and it is more than 1 week beyond that deadline, then you could ask for an update on timelines.

 

[👩🎓]

General rules:

Do you need an answer or do you just want an answer? If there is an actual need (e.g. you need to know for other recruitment processes/commitments), then it is okay to ask. If it is just to give you some reassurance, I generally say avoid asking and trying to sit it out.

If you know many other candidates have heard back and you haven't, it is okay to ask when you may hear back. If it sounds like many candidates are waiting to hear back, then I would just be patient and wait.

If a firm provided a timeline as to when you would hear back and it is more than 1 week beyond that deadline, then you could ask for an update on timelines.

Thank you so much, that really helps

 

[ad.]

This is really not an issue - I wouldn't worry about this as it is very normal.

If you/your department are very quiet, maybe ask your supervisor if there are any old tasks that maybe a trainee did for them that you could effectively replicate that you could then compare the trainee's output too and get feedback from the supervisor and/or trainee on.

Thanks for your reply!!!

It’s the opposite situation actually. The department is incredibly busy but it is the trainees rather than the partners/senior associates who seem to have the most ‘vac schemer appropriate’ tasks. I have been so busy that I don’t even need to go out of my way to ask for additional tasks but I did wonder whether it was important for me to go out of my way to get tasks from associates/partners directly.

 

[Jessica Booker]

Thanks for your reply!!!

It’s the opposite situation actually. The department is incredibly busy but it is the trainees rather than the partners/senior associates who seem to have the most ‘vac schemer appropriate’ tasks. I have been so busy that I don’t even need to go out of my way to ask for additional tasks but I did wonder whether it was important for me to go out of my way to get tasks for associates/partners directly.

I definitely wouldn't worry about it then - you don't need your tasks to go via partners or associates directly. I would just try to put some effort to engage with them outside of tasks when you can.

 

[👩🎓]

Does anyone have an email address to HR for HFW (not their early careers contact but for general HR enquiries) - cannot seem to find it anywhere?

 

[legallycece]

I have emailed RPC for an application update as I haven’t heard since my original application in October. I know it will be a PFO but just thought it was odd to have heard nothing still. Anyone in same boat ?