TCLA Vacation Scheme Applications Discussion Thread 2024-25

[JasmineM9]

Morning everyone, I have a bit of a silly question. How do you actually build your commercial awareness? I have signed up to newsletters such as Little Law and Non-billable which I am trying to be more consistent with my reading. I just realised that I have been passively reading without retain the information 🤣 Any tips to improve your commercial awareness and how to think more commercially are welcome 🙏

 

[OliverTwist]

Has anyone that did the Mishcon AC emailed in with train ticket for reimbursement and gotten a reply?

 

[hawkins19]

does anyone know how many VS places there are for milbank?

 

[NJS]

Anything form Orrick post AC? Ik someone got an offer so idk if no news is PFO or offers r going out slowly? A future trainee I spoke to said last year offers went out across a week and a half so idk whether to keep my hopes up

They said they might still invite people back to an interview, strange then didn’t interview in the first place really, but I’m not sure how to think now

 

[g.cl.2020344]

They said they might still invite people back to an interview, strange then didn’t interview in the first place really, but I’m not sure how to think now

I think they are going straight in w/ offers, some1 messaged me to say they got one, but maybe some ppl will have interviews idk?

 

[bruno17]

Has anyone heard from VWV post-ac? Been 3 weeks since the london one and i thought we were supposed to hear after 2..

Not yet! They said end of March / beginning April so I would guess this week. Let me know if/when you do hear

 

[NJS]

I think they are going straight in w/ offers, some1 messaged me to say they got one, but maybe some ppl will have interviews idk?

Probably not good news then, I assume they'll give the offers out in one go... sad

 

[EA95]

Morning everyone, I have a bit of a silly question. How do you actually build your commercial awareness? I have signed up to newsletters such as Little Law and Non-billable which I am trying to be more consistent with my reading. I just realised that I have been passively reading without retain the information 🤣 Any tips to improve your commercial awareness and how to think more commercially are welcome 🙏

I have just jotted down my understanding of Commercial Awareness. I hope this helps:

*Commercial Awareness*

Commercial Awareness in its simplest form means understanding how current events and trends, in economics, politics and global trends affects and impacts the corporate/commercial/business world and their operations, i.e., businesses, global companies, Law firms, investment bankers, stock brokers etc.

The key breakdown in particular for those aspiring to become corporate/commercial lawyers is put in to 3 categories. These are as follows:

- Why does this particular news impact a client (company)?

Example – Trump administrations global tariffs, in particular 37% on imports from Bangladesh, and 49% on Cambodia could potential be hugely impactful on huge companies who may have set up clothes factories in Bangladesh and Cambodia, as cost of labor i.e., material and machinery, and work labor may be cheaper to set up there as opposed to setting up in the US or in Europe, when they were initially setting up shop.

- How does this particular news impact a client (company)?

Example – these huge tariffs will affect the pricing of imports to America, therefore potentially impacting sales.

- What could this mean for the firm?

Example – in this particular instance, it could mean work in helping these companies navigate their way through these tariffs, this could potentially be work for the tax and finance practice area. Similarly, this could also result in the firm being instructed to deal with negotiations for relocation and setting up shop for these factories in a different environment and different jurisdiction with fewer tariffs, which could mean work for practices such as tax and real estate, finance, and corporate.

Ultimately, Commercial Awareness allows lawyers to anticipate client needs, offer practical and proactive solutions and understand the broader implications of legal and business decisions.

Things to use that would help improve your Commercial Awareness:

News Outlets:

- Financial Times.
- Times articles.
- Legal Cheeks news.
- ChatGPT.
- Google News alert.
- Bloomberg.
- CNBC.
- Economist.
- BBC Business.
- City AM.

Podcasts:

- Watson’s daily.
- FT news briefings.
- BBC wake up to money.

Also speak to someone in order to improve Commercial Awareness, for example talk about the news and conversate with them, understand the terminology used in these articles to improve your Commercial Awareness and be able to understand how this news affects clients and firms.

Finally, Commercial Awareness is a skill that will constantly need to be improved, from newbies who are trying to understand the concept to experts who advise on potentially the biggest deals, and so please do not be discouraged and keep working hard to improve this skill.

You got this 💪🏾

Also if this breakdown is wrong, please help and improve it. Any advice would be appreciated.

 

[BM99]

Anyone heard from Macfarlanes for senior partner dinner post-interview?

 

[JasmineM9]

I have just jotted down my understanding of Commercial Awareness. I hope this helps:

*Commercial Awareness*

Commercial Awareness in its simplest form means understanding how current events and trends, in economics, politics and global trends affects and impacts the corporate/commercial/business world and their operations, i.e., businesses, global companies, Law firms, investment bankers, stock brokers etc.

The key breakdown in particular for those aspiring to become corporate/commercial lawyers is put in to 3 categories. These are as follows:

- Why does this particular news impact a client (company)?

Example – Trump administrations global tariffs, in particular 37% on imports from Bangladesh, and 49% on Cambodia could potential be hugely impactful on huge companies who may have set up clothes factories in Bangladesh and Cambodia, as cost of labor i.e., material and machinery, and work labor may be cheaper to set up there as opposed to setting up in the US or in Europe, when they were initially setting up shop.

- How does this particular news impact a client (company)?

Example – these huge tariffs will affect the pricing of imports to America, therefore potentially impacting sales.

- What could this mean for the firm?

Example – in this particular instance, it could mean work in helping these companies navigate their way through these tariffs, this could potentially be work for the tax and finance practice area. Similarly, this could also result in the firm being instructed to deal with negotiations for relocation and setting up shop for these factories in a different environment and different jurisdiction with fewer tariffs, which could mean work for practices such as tax and real estate, finance, and corporate.

Ultimately, Commercial Awareness allows lawyers to anticipate client needs, offer practical and proactive solutions and understand the broader implications of legal and business decisions.

Things to use that would help improve your Commercial Awareness:

News Outlets:

- Financial Times.
- Times articles.
- Legal Cheeks news.
- ChatGPT.
- Google News alert.
- Bloomberg.
- CNBC.
- Economist.
- BBC Business.
- City AM.

Podcasts:

- Watson’s daily.
- FT news briefings.
- BBC wake up to money.

Also speak to someone in order to improve Commercial Awareness, for example talk about the news and conversate with them, understand the terminology used in these articles to improve your Commercial Awareness and be able to understand how this news affects clients and firms.

Finally, Commercial Awareness is a skill that will constantly need to be improved, from newbies who are trying to understand the concept to experts who advise on potentially the biggest deals, and so please do not be discouraged and keep working hard to improve this skill.

You got this 💪🏾

Also if this breakdown is wrong, please help and improve it. Any advice would be appreciated.

Thank you so much for the detailed response. It is super insightful! I will make a note of your points so that I can start incorporating them in my reading!!

Thank you for this 🙏☺️

 

[EA95]

Thank you so much for the detailed response. It is super insightful! I will make a note of your points so that I can start incorporating them in my reading!!

Thank you for this 🙏☺️

You’re welcome.

May I add that the best advice I could give in actually improving your understanding of Commercial Awareness, is the last point I make which is speaking to people, whether it be in this forum or with friends and family, as you will learn to develop how to formulate and articulate your arguments from these news articles, which will be needed when you are speaking to Partners, Associates and Grad recs at the interview stages.

Good luck!

 

[BillSikes]

Bro im still waiting on them 💀💀 they haven’t even given the test or a PFO so idk if I should email them

guessing a PFO since I applied for the summer

PFO yes. They did the same last re not replying to unsuccessful applicants for ages

 

[BobThebIlly]

PFO yes. They did the same last re not replying to unsuccessful applicants for ages

Ah thanks for letting me know! Pretty rubbish and inconsiderate of them considering their app consisted of three 600 word questions 💀

Only hope for this cycle is Paul Hastings but I think this might be the last week they’ll send responses🙏

 

[lawstudent5]

Hi! Does anyone have any advice on how to politely withdraw from a vac scheme I’ve already agreed to? I’m choosing another firm over them but don’t want to burn bridges.

 

[Jessica Booker]

Hi! Does anyone have any advice on how to politely withdraw from a vac scheme I’ve already agreed to? I’m choosing another firm over them but don’t want to burn bridges.

Are you wanting to be considered for an alternative opportunity (e.g. later VS or Direct TC process) with the firm or are you just reneging?

 

[efm99]

Anyone know if Mishcon sends out all ACs for summer at the same time? I see a few postings about ACs, but I haven't been rejected after the VI I completed over a month ago.

 

[legallyrach]

Has anyone else received a first stage interview from PH?

Hey yes I have! I received my invite last Thursday. I was wondering if anyone on here has any advice/ done the interview before as I can barely find any information online! What kind of questions should I expect? And what are the stages after the interview? A tad bit confused as their email says 'there will only be a one-stage interview'.

I would really appreciate it if anyone has insights to share!

 

[User5678]

Howard Kennedy holding email, they’ll get back to us in two weeks if we make it to the next stage I.e., WGT

 

[Kakaboo]

Is it ok to ask for feedback on an AC even if I got the vac scheme?

 

[mfuturetrainee]

Is it ok to ask for feedback on an AC even if I got the vac scheme?

yep!