Dechert Vacation Scheme - December 2024

What was the full recruitment process?         

1. Application

2. Written test

3. Assessment centre

4. Vacation scheme

Which aspect does this report cover?

Vacation scheme assessment centre

Where did the assessment centre take place?            

Zoom

What did the assessment centre involve?      

1. General interview: competency and motivation questions (30 minutes with 1 partner and 1 senior associate)

2. Commercial/case study interview: oral presentation on advice I would give a client based on a fictional transactional scenario, combined with various situational questions (30 minutes with the same people as above)

3. Coffee chat with a trainee: general chat with a trainee ( ~45 minutes)

Written assessment         

The written assessment took place sometime after the initial application, suggesting that it is not an automatic stage but rather an indication that you have progressed to the next round.

The task was not a proofreading exercise. It required drafting an email advising a client based on a fictional contract provided as part of the assessment. I was given one hour to complete this, and I found that I used the full time available.

I would recommend structuring the email into two key sections:

• A concise summary of your advice – clearly outlining the key points for the client.
• A more detailed explanation – referencing the relevant contractual clauses and providing the necessary reasoning behind your advice. 

General interview         

This interview focused on general competencies and motivations, conducted in a relatively casual manner to assess my suitability and get to know me better. It was CV-blind, meaning you need to actively highlight and articulate your experiences rather than relying on your application. Some of the questions were:

• What attracts you to Dechert?
• Why commercial law?
• What other firms have you applied to?
• What law firms are Dechert’s competitors?
• What was your proudest achievement?

Commercial/case study interview

The same partner and senior associate verbally provided me with commercial and other scenarios to test my intuition and commercial awareness.

Commercial scenario

The first scenario regarded the incentivisation of a CEO post-acquisition. She had already been offered shares to remain on the with the company. I was asked how I could further incentivise or persuade her to stay on at the company? As I made suggestions, the interviewers would raise alternative facts or slightly different scenarios based around the main one to test different ideas in different situations. 

Intuition scenario

This exercise assessed my practical judgment, problem-solving skills, and understanding of a trainee’s responsibilities, ensuring I considered legal risks while maintaining efficiency under pressure. The interviewers presented the following situation: 

"You are a trainee, and a deal is about to close. The client is waiting in the boardroom and wants this finalised urgently. The senior lawyers handling the deal are away and uncontactable. You have been tasked with preparing the documents for signing with wet ink. Time is of the essence, and the senior lawyers still can’t be reached."

• Do you proceed with the signing?
• The printer is broken, what do you do?
• The client wants to change something in the documents, what do you do?
• Nothing needs changing, they just need to sign. Do you proceed?

Coffee chat with a trainee

This was a casual conversation with a trainee, intended as an opportunity for me to learn more about the firm’s culture and ask any questions. While it was presented as an informal discussion, it became clear that it was still part of the assessment process.

During my vacation scheme, I followed up with a trainee who confirmed that their feedback was taken into account. They were even asked questions such as: "Would you share an office with this person?".

Although there is no formal preparation required, my advice is to be yourself and ask genuine questions that will help you to determine if the firm is the right fit for you. This is also a great chance to get insight into what the firm values by observing who the trainee is and what their experiences have been.

One word of caution—avoid mentioning salary. I was told that a previous applicant brought up this topic, which led to an automatic rejection.

What was the outcome?                                                  

The partner who interviewed me called me two weeks later to let me know I had been successful. 

Do you have any specific advice on how to prepare?

The motivation interview is very straightforward. Have a good idea of why you want to work at this firm and make sure the other firms you mention you have applied to are relatively similar. It is good to have an idea of the general legal market and the typical characteristics that may separate out the typical US style firm to a magic Circle firm. Also remember to push your achievements to the forefront as the interview is CV blind. 

The commercial/case study interview can be tricky and from memory I felt quite grilled on this. Develop commercial awareness and understand the key considerations around certain transactions (employment, tax, IP, etc). It became clear later on that they are testing you on your commercial intuition and ability to take on new information and apply it. Keep calm and suggest ideas, be they innovative or not.  

Dechert Vacation Scheme - January 2022 

What was the full recruitment process?         

1. Application 

2. Written assessment

3. Video interview 

4. Assessment centre 

5. Vacation scheme 

Which aspect does this report cover?

Vacation scheme assessment centre 

Where did the assessment centre take place?            

Microsoft Teams

What did the assessment centre involve?      

1. Case study and motivation interview: case study and motivation questions (~45 minutes with 1 partner and 1 senior associate)

2. Trainee Q&A: one-on-one discussion with a trainee, unclear whether this was assessed (~45 minutes with 1 trainee)

3. General interview: commercial, situational and competency questions (~45 minutes with the Graduate Recruitment Manager and 1 associate).

Case study and motivation interview

Case study

In the interview, the partner read out the case study information whilst I took notes (no information was given beforehand). The subject was a 50/50 joint venture between two of the firm’s clients, both of which were being advised by the firm. After presenting the case study background information, my interviewers asked a variety of questions (and follow up questions). The questions covered elements such as due diligence and the practice areas involved in advising the clients.

Part-way through the discussion, the interviewers presented additional issues to consider. For example, I was subsequently told that one joint venture party wanted to ensure the other joint venture party was committed, and I was asked how this could be achieved. I was also told that one of the joint venture parties was considering retiring soon, and to suggest how we could ensure a smooth continuation of the venture. I was later told that the joint venture was not doing well, and asked to explain how the parties could exit the business.

Although the topic may change from interview to interview, it might be worth familiarising yourself with the structure of a joint venture, and potential solutions to any issues which may arise (just in case it comes up). In addition, interviewers like to hear your thought process, so don’t be afraid to say something and then change your mind.

Motivational questions

I was also asked questions designed to test my motivation for pursuing a career in commercial law, and for wanting to work at Dechert in particular, including:

• Why commercial law?
• Why Dechert?
• How many firms have you applied to?
• What are your top 3 firms?
• What do you look for in a firm you would like to train at?

General interview                

Quick-fire commercial questions

I was asked a series of quick-fire commercial questions, which focused mostly on business and finance terms and acronyms. For example:

• What is a derivative?
• What is a future?
• What is the stock market?
• Name some US and UK regulatory bodies.
• What is the OPEC?
• What is a private credit fund?
• What is securitisation? Can you name an example?
• What is the difference between an executive director and a non-executive director?
• What does the OECD stand for?
• What is the AIM?
• What is an IPO?
• What is the enterprise value of a business?
• What does LBO stand for?
• What does M&A stand for?

You either know the responses to these questions, or you don’t. You can’t really guess what a derivative is. So do as much preparation as you can in advance to give yourself the best chance of knowing as many answers as possible. The reality is, you will be asked questions you don’t know the answer to, and that is completely fine. But the expectation is for you to know the majority of them, and to be able to clearly explain them.

‘All You Need To Know About The City’ by Chris Stoakes is great for understanding financial terms. It’s worth going through topics such as mergers and acquisitions, the lending process, processes relating to share and bond issues and so on, being sure to look up any words or acronyms that you don’t understand.

It might also be helpful to review an example company balance sheet and related terms (e.g. assets and liabilities), as well as research into core international/UK organisations (e.g. the ECB, OECD, IMF etc.).

Situational question

The interviewer presents a hypothetical scenario you may face as a trainee, such as ‘what would you do if you needed to ask your supervisor something urgently, but they are out of the office?’. Follow-up questions are then asked depending on your response.

You cannot predict the scenario you will face, so it’s difficult to prepare in advance. When answering this question, it is important to bear in mind what the firm would likely expect from a trainee, such as proactivity and integrity. Think about how you would really act in this situation.

For example, if the scenario involves you being delegated work by both a partner and an associate (with each piece of work having the same deadline), and you subsequently find yourself pushed for time, you should ideally say you would endeavour to complete both pieces of work to a high standard, within the time period, but would communicate openly with both individuals throughout (keeping them informed of your progress, and deferring to them if you literally don’t have enough time to complete both tasks by the deadline). This shows you are determined to complete work you are given, you are a reliable trainee, and you understand the importance of effective communication. It’s also helpful when answering this question to think out loud, and to remain adaptable if your interviewers introduce new information.

Competency questions

I was asked a range of questions about my previous experiences and the skills I had developed as a result, including:

• Tell me about a time you had to make a complex decision.
• Tell me about a time you identified a risk and dealt with it accordingly.
• Tell me about a time you worked with a team in pressured conditions.
• Tell me about a time you worked with someone with a difference in opinion.

What was the outcome?                                                  

The firm called me almost 3 weeks after the assessment centre to tell me I had been unsuccessful.