Hi We give you the best commercial law insights and advice, all in one place. Here's what we cover today: - Interview case studies
- Questions to ask during interviews
- Identifying firm USPs
- 150+ Watson Glaser practice questions
- A current affairs round up
- Member success stories
…and more. |
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Real law firm case studies Commercial Law Academy offers 16 detailed case studies based on actual commercial law interviews, including questions, model answers and advice covering the role of law firms, pitching to clients, written exercises, contract and legislation analysis, disputes, M&A, scenario-based questions, brainteasers, and more. |
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Which questions should you ask during an interview? It's easy to forget this, but interviews are two way conversations between yourself and your interviewer(s). They provide a great opportunity for the firm to get to know you, but also offer you the chance to get to know a bit more about the firm and its people. You should always come armed with questions, as failing to ask questions if given the opportunity at the end of an interview might demonstrate a lack of interest in learning more about the firm (and therefore reflect negatively on your motivation and interest). It also means you will have wasted a unique opportunity to gain further insights into the firm and its culture. Tailor your questions to the role and seniority of your interviewer. If you're talking to a senior partner, don't start asking them about the application process. Consider asking them about their career: what has kept them at the firm for so long, how their role has changed over time, what their favourite thing is about the job etc. You could also ask about the firm's future strategies, or how it negotiated a particular challenge, although be ready to give your own opinion in case they flip the question back onto you. |
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85 questions to ask in law firm interviews Aspiring lawyers often ask me for advice on which questions they should ask during interviews. So I decided to ask a broad range of previous interviewees to tell me which of the questions that they asked in interviews seemed to go down well with their interviewers. And so…
We have just launched a FREE downloadable e-guide containing a list of 85+ questions to ask in law firm interviews, categorised as follows: - Questions about the firm and career: this includes questions about the role of lawyers, as well as a law firm's work, practice areas, culture, training, and strategy.
- Questions about business and legal trends: this includes questions about technology, the legal industry, training, and working patterns.
- Questions about the interviewer's career: this includes questions tailored to different roles, experiences, and levels of seniority.
- Questions about your own personal development: this includes questions covering skill development, and preparing for vacation schemes and training contracts.
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Identifying law firm USPs and linking them to you It's fine to mention that you are attracted to a firm as a result of its reputation, the awards it has received, the sectors it services, the work it carries out, and the types of clients it attracts. However, don't linger on these points for too long if you're not able to identify factors that truly distinguish the firm from most (or all) of its competitors. This can be a challenge, as most of the firm's competitors will have a similar reputation, have won similar awards, service predominantly the same sectors, carry out similar work, and work for many of the same clients. How to talk about a firm's reputation and capabilities If you do manage to identify something unique or particularly relevant to you, be sure to explain this clearly. What is it about that selling point you've highlighted that aligns with your skills, interests, experiences and/or motivations? For example, looking at a firm's rankings and awards... - Is the firm highly ranked across a broader range of departments or practice areas than most of its competitors?
- For example, not just corporate and finance (which many firms might demonstrate strength in), but also real estate, disputes and intellectual property?
- Has it won awards to back this up?
- Does it have a leading reputation in the areas that interest you most?
Why do you care? - Could strength across a broad range of departments suggest you'll have consistent exposure to pioneering work wherever you are placed during your training, as well as the opportunity to learn from the best in their fields?
- If so, does this reflect positively on your potential to learn and develop during the firm's training programme?
- Or do you have a demonstrable interest in a particular practice area for which the firm is ranked “Band 1” by Chambers and Partners, and are you therefore attracted to the opportunity to join such a highly regarded team and carry out such high-profile work?
Complete our Law firm profiles and research course to learn how to effectively research firms, discuss a broad range of potential USPs relating to a firm's international footprint, training, people and culture, D&I and pro bono initiatives, technology and more, then link these back to yourself. |
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Why do great candidates fail interviews? Could this be what you need to get to the next stage? Ever wondered why great candidates fail interviews?
These are issues I constantly see when coaching and mentoring aspiring lawyers.
Yet they're really easy to rectify.
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What do real estate lawyers do?
Real estate (or commercial property) lawyers might advise on the acquisition, sale, transfer, financing and operation of – as well as any ongoing dealings with – tangible assets such as buildings and land.
They may also deal with other assets and infrastructure, although firms might have dedicated teams for this (e.g. shipping or aviation teams). In addition to drawing up the relevant contracts, real estate lawyers may also work on: - Large regeneration projects;
- Leasing or licensing arrangements, including advising on the interpretation of existing clauses; and
- Real estate disputes, alongside disputes lawyers.
Note that larger or specialist firms may also have sub-teams that specialise in planning law and construction. Moreover, on Corporate-led transactions or Finance-led real estate financings, real estate teams are likely to provide due diligence support on elements of transactions that involve property. |
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150+ practice Watson Glaser questions Our membership includes access to 150+ Watson Glaser practice questions! We've added new and exclusive questions (developed in collaboration with business psychologists), complete with clear and detailed explanations, over the past two weeks. We've also added a collection of additional situational judgment tests, which sit alongside our existing verbal reasoning, numerical reasoning and logical reasoning tests. All of these are included as part of our monthly or annual subscriptions, alongside 24 other comprehensive courses covering recruitment processes, legal careers, commercial awareness and professional skills. |
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What is a syndicated loan? Where borrowers need to raise large amounts of money, lenders may “syndicate” (i.e. group together) and collectively provide the required capital (hence the term “syndicated loan”). Doing so enables lenders to spread the risk and collectively lend amounts that each individual lender may be prohibited from lending by their internal credit committees. Usually a syndicate of lenders will appoint one of the participants as a “lead arranger”, and they will be responsible for administering the loan on behalf of the other syndicate members. Each lender will then receive a share of the interest payments and other fees payable by the borrower in connection with the loan. |
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Topical legal current affairs Each month, we team up with Watson's Daily to host a free webinar summarising the key current affairs and trends from the previous month, including insights from a business, markets and legal perspective. The FCA has lifted its ban on retail investors buying crypto ETFs for ISAs and pension schemes! It looks like retail access won't be available until next week at the earliest, but this is a major development. SO WHAT ARE THE CURRENT LAWS ON RETAIL INVESTORS BUYING CRYPTO ETFS? To date, only professional investors have been able to buy crypto exchange-traded notes (or “cETNs”). An exchange-traded note is a financial debt product issued by a financial institution which aims to mirror the performance of a market index, and in doing so, replicate the returns that would have been received had an investor invested directly in that index (for example, by buying shares in all the FTSE 100 companies). With this in mind, a crypto exchange-traded note aims to mirror the performance of one or more specified cryptoassets, meaning the value of the note will rise or fall in line with the value of the underlying cryptoassets. According to Simmons & Simmons, investing in a cETN rather than directly in cryptoassets can appeal if investors don't want to directly deal in crypto, manage wallets, or transact on unregulated crypto exchanges. The FCA is now proposing to lift the ban on retail investors – i.e. consumers - buying cETNs, which would bring the UK in line with certain other countries that already allow this. This has come about as part of an initiative designed to support the growth and competitiveness of the UK's crypto industry. Note that the new rules would only apply to cETNs traded on FCA-approved investment exchanges. In addition, financial promotion rules would apply (meaning consumers would need to be given adequate information about the risks, and sellers could not offer inappropriate incentives to persuade consumers to invest). |
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Key investors: private equity, venture capital, institutional investors & business angels What are “institutional investors”? Institutional investors are institutions with specialist knowledge that buy, sell and manage investment securities in large quantities on behalf of others. Examples include pension funds, insurance companies and hedge funds. What is a “business angel”? Business angels (or “angel investors”) are wealthy individuals who invest their personal income in early-stage businesses in exchange for equity. Working with a business angel can be especially beneficial for a business if that business angel has ample knowledge of, and experience working in, that business' industry. |
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Celebrating success Hear how our courses supported future lawyers with securing their roles - they offer lots of insights, including how best to utilise the Commercial Law Academy platform. “The best thing about the Commercial Law Academy platform is that it offers specific advice as opposed to anything generic”. |
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