TCLA Vacation Scheme Applications Discussion Thread 2024-25

[LimitedLiabilityLover]

Passed DLA VI! How long did people wait to be shortlisted (either rejection or invite to AC)?

i passed it on the 14th of December and have yet to hear

 

[lolasparks]

Any insight on Pinsent Masons, blended test especially the VI section please?

 

[xxx]

i passed it on the 14th of December and have yet to hear

I saw someone say they tell you if you got an AC a week or two before. So since there in January we probably won’t hear back till the new year 🙃

 

[Shah74k]

Anyone heard back from Sidley re: Spring? I applied back in September and haven’t heard a peep.

 

[LimitedLiabilityLover]

Would love thoughts on this - A commercial issue for Weil app am thinking of talking about the rise of private credit. This is a commercial issue that affects asset management and PE firms for alternative forms of financing through private credit. My issue is will this still be relevant as interest rates and inflation have be lowered will private credit still be relevant. Any thoughts on this @Ram Sabaratnam @Amma Usman @Andrei Radu

Private credit is a great topic for Weil, especially since i spoke to a recruiter and they mentioned they're tired of hearing about PE. It's still relevant, as with Rachel Reeves borrowing £50bn, interest rates are likely to rise again, driving up the gilts and thus, borrowing costs. Private credit offers a way for PE firms, like KKR, to mitigate acquisition risks and still deliver returns to impatient investors. It is more likely that they raise their own fund and lend to others than use the loans themselves.

Private credit breaks down into mezzanine, direct lending, and private placements, each serving different borrower needs. While PE firms rarely use private credit (e.g. due to debt for equity tranche in mezzanine deals and the long-term nature of private placements), it remains a useful tool for structuring deals and managing risk, regardless of interest rate fluctuations.

 

[onedayj]

Congratulations- a week and a half but depends on location and they are swamped at the moment I.e London is closed with last ac in January it would appear but Birmingham is open with a few acs to go. However hr has a lot of apps to wade through

Are you sure there's only one AC left for the London office? two weeks ago, GR told me they will still be hosting many more AC's from January but I don't know if they meant for all offices or just London (which was my enquiry to them)

 

[futuretrainee101ac]

Hi, has anyone received an update from BCLP after completing the assessment? If so, what was your time line etc.

 

[Hana ♥]

I saw someone say they tell you if you got an AC a week or two before. So since there in January we probably won’t hear back till the new year 🙃

It makes sense, I wonder if they'll wait until after Christmas to sort through and shortlist (I can't believe they're shortlisting again). Well, best of luck everyone, fingers crossed we all get through! I wonder how many ACs will be held for the London Office

 

[Amjaya]

That HSF test might be the worst one I've ever done... very silly way to assess people

It was a weird test lol that AI thing made me feel unsettled.

 

[ashwright]

1. There wasn't just one singular reason why I ended up choosing Davis Polk, it was more that the firm scored best on most of my relevant selection criteria:

• Client relationships and quality of work: the firm's US reputation, and especially its long standing institutional relationships in Wall Street, was an important consideration. For US firms in London a big part of their work will originate from clients in the US, so their renown there is a crucial (though often overlooked) factor to consider if you want to work on the highest end mandates.
• Small but extremely efficient corporate practice in London: Davis Polk's London corporate team is very lean compared to most rivals, with competitors with the same Chambers M&A and equity capital markets rankings having teams from double to 4/5 times the headcount. That suggests that the firm's individual practitioners are extremely efficient, which is further evidenced by the rankings in The Lawyer's Corporate Efficiency report. In 2023 Davis Polk was first by a significant margin and in 2024 it came second only after Paul, Weiss (a firm whose efficiency rankings may have been propelled by their hiring spree), and had the best/second best revenue per corporate lawyer and revenue per corporate partner figures in both years. This quality-focused approach is illustrated in the firm's average deal value figures as well: while Davis Polk works on a significantly lower number of transactions than a Latham or Kirkland, the average value of a mandate the firm works on is around three times higher - in fact, in 2023 it was the highest in the world. As at this point I knew I wanted to be a corporate lawyer and to work in a lean team, this very quality-focused strategy was attractive to me.
• Seat rotation structure: Davis Polk's pinpointed corporate-finance focus and small size means that the firm foes not operate the usual strict 4 seats rotation structure. Instead, the process is a lot more "conversational" and it is not uncommon to do even 3 seats in corporate if you want to. Since I know this is the area I want to work in, this system was a lot more attractive for me than a more conventional and broader training experience.
• Strong financials and growth plan: Davis Polk has historically been leading global average PEP rankings, in the last 5 and 10 years having the 3rd average PEP per year in the world (only behind Wachtell and Kirkland). This signals a very successful business model, which allows the firm to make substantial investments when appropriate. This enabled Davis Polk to begin a period of expansion in London while keeping a very high quality-focused approach - its recent lateral hires only include Chambers-ranked star partners, poached from Paul Hastings, Sidley, and A&O Shearman; something that rival firms with a weaker financial position might not have been capable of.

2. I am generally of the view once again that there is never one factor you should think leads to success, and consequently my strategy has been to try to score well in all the relevant assessment criteria rather than to try to be absolutely impressive in any given one. However, if I were to say one thing which I think distinguished me the most in my Davis Polk application and later in my VS I would say it was knowledge of the firm in the context of the broader biglaw legal market. Explaining exactly what different practice areas do and what their work looks like at different levels, what the firm's leading practices are and how they compare to that of rivals beyond Chambers rankings, and what position their firm as a whole occupies in the market is very impressive for a recruiter. It shows passion for researching this career in detail over a long period of time, which is the best evidence that you are a good fit for it.

Thank you so much, Andrei. It's unbelievably valuable to get an insight into your thought-process. It is no surprise that you had such great success - your astute and thorough understanding of the industry is truly remarkable, especially at such an early stage. Thank you again, for your response and your support on the forum in general. 😊

 

[RonRod13]

Does Paul Weiss invite everyone to the online open day if they were unsuccessful at the in person open day?

 

[futuretrainee2503]

Anyone else receive a paul weiss online open day invite along with the PFO? Wondering if it’s a standard thing they do?

 

[l789]

Finally got my Paul Weiss PFO- the email was quite supportive though overall 👏🏽👏🏽 !

However they sent a link to register for an online open day- did anyone else receive this and those who were rejected from previous open days?

 

[Tcvspfo]

Interesting articles on the subject

Thank you this us really helpful.

Private credit is a great topic for Weil, especially since i spoke to a recruiter and they mentioned they're tired of hearing about PE. It's still relevant, as with Rachel Reeves borrowing £50bn, interest rates are likely to rise again, driving up the gilts and thus, borrowing costs. Private credit offers a way for PE firms, like KKR, to mitigate acquisition risks and still deliver returns to impatient investors. It is more likely that they raise their own fund and lend to others than use the loans themselves.

Private credit breaks down into mezzanine, direct lending, and private placements, each serving different borrower needs. While PE firms rarely use private credit (e.g. due to debt for equity tranche in mezzanine deals and the long-term nature of private placements), it remains a useful tool for structuring deals and managing risk, regardless of interest rate fluctuations.

Thank you for this and yes that is a good poi8nt. Also I could discuss what is happening in the US and whether that could affect this whether Trump will raise interest rates.

 

[l789]

Anyone else receive a paul weiss online open day invite along with the PFO? Wondering if it’s a standard thing they do?

I did as well, I want to know if they selected a pool of candidates who slightly missed the mark for their in person open days to attend the online one- or if it’s just generic

Wondering if anyone else who got rejected from the previous open days also recieved an invite?

 

[tosin4774]

Anyone heard from Paul Weiss open day

yes

 

[l789]

Anyone else receive a paul weiss online open day invite along with the PFO? Wondering if it’s a standard thing they do?

It’s a step up and advantage nonetheless from those who didn’t apply to the open day at all (granted it’s exclusive as it says and was only emailed to applicants who applied).

We will still be getting a good insight into the firm- as they haven’t posted any virtual events as of yet. So it’s only the open days by which we can learn more and get some juicy info

 

[LimitedLiabilityLover]

Thank you this us really helpful.

Thank you for this and yes that is a good poi8nt. Also I could discuss what is happening in the US and whether that could affect this whether Trump will raise interest rates.

Unlikely that Trump will, Jerome Powell (president of Fed) has been, over the past few years, the first person to cute base rates.

 

[Tcvspfo]

Unlikely that Trump will, Jerome Powell (president of Fed) has been, over the past few years, the first person to cute base rates.

Yh was thinking that also maybe as Trump wants to help businesses grow.

 

[studentdelaw786]

Wondering about Weil too, but in website it says all applications will be reviewed regardless of when you apply

Weil is rolling but Grad Rec confirmed at the insight evening it’s still okay to submit your application