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I will also add to @Jessica Booker's comment that different firms have different policies for considering people who reapply after being rejected at different stages. Some will outright not consider people who were rejected in a vacation scheme or AC and some will consider it but advise you to only reapply if you significantly improved your candidate profile. For these firms, I would agree with you that many times it may not make sense to reapply.I wanted to query something. I’ve seen it’s normal to reapply to firms if you’ve been rejected post VS. Why. Especially if this was only last cycle. Why would a firm give you the opportunity again when there are others who have not reached that stage yet. This may be pessimistic of me but I did wonder what the point of putting in an application to a firm that has clearly stated you were not a fit. (Reapplying if you ran out of time for assessed elements is understandable or they’ve encouraged you to)
This also goes for firms who offer an AC after an open day. I know someone who attended Latham open day last cycle and did not convert from the AC. They plan to reapply again for the open day. Why. Utilise the experience and move on. Maybe this contradicts resilience in some way but I find it wastes the time of graduate recruitment as they’re most likely going to reject. If it’s your dream firm move there at qualification. This has rattled me on this fine Wednesday morning after debating with a few friends.
Other firms however actively encourage reapplications and make it a point to do so publicly. For instance, I remember White & Case made a special podcast with a trainee who was rejected 4-5 times (including at AC and VS stages) before getting the TC offer and explicitly said they thought reapplying shows commitment and resilience. I also personally know someone at White & Case who was rejected during a VS in one cycle but got a TC offer in the next. For these firms, I think there's actually an argument to be made that it is more beneficial to invest time in reapplying rather than making a whole new application at another firm.