TCLA Vacation Scheme Applications Discussion Thread 2024-25

[Tclarocks123]

Macs early morning PFO. It is sad for me so I cannot pretend to be nonchalant. I went to a NRG but I have lots of experience and put real effort into drafting. I can only assume its the test. But you know what they say about assumptions .... Good luck everyone.

 

[Monopolyman]

Macfarlane's PFO, thought I did well in the online test too so quite disappointed

 

[MissAnnaliseKeating]

Macs early morning PFO. It is sad for me so I cannot pretend to be nonchalant. I went to a NRG but I have lots of experience and put real effort into drafting. I can only assume its the test. But you know what they say about assumptions .... Good luck everyone.

I'm really sorry to hear that it's upsetting you. Even excellent candidates get rejected at this stage because of the sheer amount of people applying.

 

[kokoprep]

Thanks Koko also i love your pp 😂😂😂

I am so glad there's no online tests for them

I love yours too!

 

[legal18]

Macfarlanes PFO

I think I only progress with US firms

 

[Mwtmann]

Macfarlanes PFO, applied well before the deadline and very strong app. As such, to those who applied at the deadline, don't beat yourself up! Best of luck with the rest of your apps!

 

[Amma Usman]

Hey @futuretcholder, thanks for sending your query through the forum!

It’s really great that you’ve started thinking about the next steps in the law firm application process! Most firms schedule interviews and assessments (such as the WG) deadlines within a short time frame, so being reasonably prepared beforehand maximises your time and efficiency.

I have included a few tips below:

• Commercial awareness is a non-stop habit candidates and lawyers need to build, so it’s great that you‘re on top of this. In addition to reading the news, I would also recommend brushing up on particular economic and business concepts. This is because commercial awareness encompasses a broad deal of facets. Often times, law firms will ask candidates at an AC stage the difference between a share purchase and asset purchase, the meaning of synergy, the impact of inflation on a private equity firm, and so on. I remember being questioned at an AC on the typical structure of an M&A deal and a commercial lawyers involvement in such transactions. Here, I was able to touch on areas such as due diligence, but the feedback I received made me understand that I needed to do more. I needed to learn more as these are soft skills that are often unspoken about. Further, the experience made me realise that in addition to reading the FT or Finimise every morning, I needed to understand some specifics about their clients‘ operations. Through this, I realised that I was able to connect more dots when I eventually read stories on the FT. It’s also an area that I can say I am always working to build and improve on, as things in the global economy change relatively swiftly. Being able to discuss these changes at an AC will showcase your ability to adequately connect client experience with global considerations - something commercial lawyers do on a daily.

• Practicing assessments regularly is another consideration. For example, if you are drawn to a lot of firms which require one to complete the WG, you would want to work on practicing them as often as you possibly can. I know there are often difficulties with accessing tests from the actual WG provider, but TCLA’s WG crash course personally helped me. Additionally, if you go on multiple firm’s websites, you will find practice tests. Using those practice tests combined, you would have worked on improving your strategy with about 5 or more different tests. Clifford Chance is one firm I remember seeing a practice WG on their website. So set aside some time every week dedicated to focusing on learning the nuances of the test. Another good approach that links to this point is to not ‘time’ yourself for the first few attempts. This allows you to really think about what each section is asking of you, improving your overall efficiency for future assessed attempts.

• With the competency/motivational questions, I would say take some time to understand what draws you to a career in law first, then commercial law specifically, followed by a career in a specific firm. These are the standard motivational questions as interviewers will often want to ensure candidates know enough about the profession to want to specialise in it. I was once asked at an AC why I wanted to be a lawyer, then why a commercial lawyer. This required me to touch base on the differences in the type of practice areas, clients, and work that different lawyers deal with, as well as any past experiences I had because this shows ‘demonstrated’ interest. To be honest, this is not an easy question to answer. For me, it was very overwhelming. I knew why I wanted to become a commercial lawyer, but I found it hard to put this on paper, much less communicate it orally. So, I literally took a week out and solely focused on understanding myself and my CV more. Through this, I built on my ‘WHY’ and could better translate this across rooms during an AC or interview.

So in a nutshell, these are my main tips. Feel free to let me know if you have any more questions on this, and I’ll happily follow up!

Best, Amma

Hey @TC Chaser . In my experience, the CA competitions test commercial awareness live. This means you’ll need to keep abreast of upcoming and current industry/global trends. For example, just a few days back, talks on a new employment rights bill have been on the rise.

Listening to the FT daily news briefing, reading Finimise, Watson Daily, etc, are great information builders on the topic of commercial awareness. I will also be posting short daily (excluding weekends) updates on the TCLA forum HERE.

Hope this helps, and feel free to post any more questions

Hey @legal18 . Great question. Answers to questions of this type can typically be of anything and everything you deem to be sufficiently commercial, and will enable you to talk extensively about the sector-agnostic impacts (law firms and their clients alike). Weil is known for its corporate practice. Something like interest rates cuts will impact their PE clients, leading to impacts on debt financing, for example. I had recently made a thread on the widespread effects of the BoE rate cuts to 4.75% which I have linked here.

TIP: You could choose anything that appeals to you, but ensure to choose something which will significantly affect a sector that the firm primarily operates in. This will help convey a strong understanding of Weil’s work. I also don’t recommend choosing a topic that will be a big discussion by many candidates - AI or ESG is one example. At the same time, however, this may not be too much of an issue if you explain it in a unique and a specific manner which demonstrates strong research skills and a good tailoring to the firm’s practices.

Hi @Audric_T , I’m unsure about the specifics on DLA’s assessment process, but I’ll take a stab on your second question.

Commercial awareness is a crucial skill in the law firm application process, and it’s one that requires consistent effort to build and maintain every day. I always say this – it’s not just about skimming through the Financial Times(FT) every morning. It’s about truly understanding the fundamentals, even the smaller details: for instance, knowing the definitions and distinctions between types of loans or bonds, and understanding how fiscal policy differs from monetary policy. It’s about balancing theoretical knowledge with an awareness of current affairs, as both are equally essential.

For case studies, commercial awareness can encompass a range of knowledge. Take an M&A case study, for example. It’s important to understand practical concepts like the differences between drag along and tag along rights, the role of due diligence, or how a change of control clause could impact the deal. On a broader level, having knowledge of landmark M&A deals – such as the proposed merger between Microsoft and Activision Blizzard – shows not only that you are up to date, but also that you understand how such deals shape the legal and business landscape.

In terms of building commercial awareness, I recommend starting with accessible resources like Finimize, LittleLaw, or ZipLaw. These are great tools for breaking down complex commercial concepts into digestible pieces. From there, podcasts like the FT News Briefing or The Economist Podcasts can keep you updated on global business and economic trends in a conversational format. You can also reinforce this knowledge by subscribing to the FirstFT newsletter, which summarises the main developments of the day. Highlighting a couple of key stories daily and delving deeper into how they affect businesses and their legal teams will help solidify your understanding.

When it comes to incorporating commercial awareness into law firm presentations, it’s essential to weave it in naturally rather than forcing it. Demonstrate how you view commercial trends through a legal lens, aligning them with the firm’s values and the role of a trainee solicitor. For group exercises, the collective knowledge of your team can be a real asset. Everyone brings their own perspective, so it’s important to contribute your insights while being open to learning from others. Together, you can craft a well-rounded, commercially aware presentation that showcases collaboration and critical thinking.

As you prepare for your assessment centre and beyond, adopting this structured approach will help you develop commercial awareness as a habit rather than a chore. Personally, these resources and strategies have been invaluable to me, and I’m confident they’ll help you as well.

I’m sure @Jessica Booker @Ram Sabaratnam and @Andrei Radu will have more thoughts on this.

Hey all! I hope you’re all having a fantastic mid-week! I’ve included below 10 sources to help solidify that commercial awareness! Let’s keep going and building up on that skill everyday…!!!

Pro-tip: Take building commercial awareness as a lego exercise - building little blocks everyday before cementing it into a full blown toy machine! It shouldn’t feel like a chore, rather it should feel like an exciting opportunity to learn more about the financial/legal worlds. It’s a habit that certainly takes time to build, so please be patient with your commercial awareness journey!

10 Sources:

1. Financial Times (FT)

2. The Economist

3. Bloomberg

4.The Lawyer

5. Investopedia

6. The Wall Street Journal

7. The Daily Upside

8. LittleLaw

9. Finimize

10. Forbes

Do people have advice for commercial awareness? I've been trying to stay updated with podcasts recently, and have been trying to read some articles but I'm just feeling SO overwhelmed with the amount of information. I don't know how to remember information well, like I'm writing some of it down but I'm scared it's just gonna poof out my brain in an interview. I also have no idea what to prioritise, and that's the main thing I'm struggling with now, as I have some ACs coming up next week. I was absolutely not consistent with it last year, and feel like I'm just playing catch up but there's too much to catch up and I'm stressed 😂. Any advice would be greatly appreciated

Hi @AlegalA ,

This is a very valid question. Largely because there is so much information out there… current affairs are always changing, new stuff are always being introduced within multiple industries, there are so many possible connections to draw to showcase your understanding in interviews, and so on. There is no denying this, and virtually everyone who has an offer now will tell you that there is no point trying to digest every possible thing out there, or reading all the buzzing news articles. First of all, it’s impossible. Secondly, it’s not an efficient way to work. I certainly tried to do the opposite at first, and saw sooner than later that it was highly impractical. In fact, it was more of a disservice than a service to my journey. I found that by trying to do all that, I lost building on that key foundational knowledge. Early on, I saw that I was reading so many articles, but not really understanding what was going on and not grasping so many key terms. Commercial awareness encompasses so many things, such as even understanding those key terms. You can link so many things to a single news headline and that ability to draw those connections to businesses and law firms as businesses, is what will help you demonstrate that commercial awareness - not the volume of articles you consume. It’s the connection to the financial world that distinguishes candidates that merely understand commercial awareness, with those that can actually apply it in practice. As you can imagine, the latter is more beneficial to law firms. This is because new developments and changes will happen and someone will need to be able to apply it to businesses in the context of commercial law firm’s clients. That ‘someone’, is what law firms want to see in you in applications and interviews.

I have quoted a few posts I have made on this in the past to help. Best of luck - you’ll be fine. You already have so much commercial awareness within you, and the posts I have quoted below will help you see that.

The Weekly Brief: Commercial Awareness Updates

Hey everyone! Welcome to this thread, where I'll be sharing regular commercial awareness updates to keep you in the loop on the latest trends and news—perfect for staying sharp ahead of those crucial law firm interviews and assessment centres. My goal is to post a new update every day from...

www.thecorporatelawacademy.com

Commercial Awareness Recommended Reading - Start Here!

Commercial Awareness Recommended Reading When you're trying to develop your commercial awareness, it can be hard to know where to start. Please find below a compilation of our best articles, guides and forum posts to help structure your reading. Topic Guides What is private equity? How do...

www.thecorporatelawacademy.com

 

[👩🎓]

Does anyone know when Penningtons Manches Cooper will be getting back to candidates?

 

[cjwx]

Stephenson Harwood virtual open day. 😁

When did this even open? I have been looking for an open day on their website since September and there was nothing. I bit the bullet and just applied early without going to one hoping this would increase my chances.

 

[MissAnnaliseKeating]

Has anyone heard back from Debevoise? If not, do you know how long it normally takes to get a response?

 

[chloeanderson1]

Has anyone heard back from Ashurst yet for their summer vac scheme? Haven’t heard anything since doing their online test

 

[elsx]

Kennedys virtual insight event. I officially have three virtual insight events in three days next week 😅

 

[lolasparks]

Any word of Latham or Pinsent Masons regional? I'm starting to think no news may just simply be bad news😂

 

[baj5]

Did anybody who applied close to the WFW hear back?

 

[Lizzie_Sullivan]

I'm in the same boat... the wait is awful

Are you waiting to hear back after an AC or VI? I passed the VI december 19th and still waiting to hear if I got shortlisted for the AC in edinburgh

 

[walterwhite]

Macfarlanes PFO

I think I only progress with US firms

Literally man, it’s crazy. To be fair, given that there were only two questions and they were pretty generic, perhaps there wasn’t a sufficient differentiating factor for people. For example, when compared to US apps like Debevoise, there was little room to really distinguish your application.

Then again, I might be completely wrong here. Still a bummer but we proceed!

 

[Hamaaida Khan]

Has anyone heard back from V&E?

 

[zoobla20]

Hey, is withers for the spring or summer VS?

Spring

 

[sibs23]

Fieldfisher PFO, unsurprised as I applied on deadline

 

[Bread]

"Please include activities, interests and positions of responsibility, whether at school, university or otherwise."

How is it best to structure this question? I had half a mind of doing bullet points, but with the limited word count i'm wondering whether it is better to write in prose so that I may touch on different things? Was just wondering what other people have been doing x