Faegre Drinker Vacation Scheme - August 2023

What was the full recruitment process?         

1. Application

2. Telephone interview

3. Assessment centre

Which aspect does this report cover?

Telephone interview and vacation scheme assessment centre

Telephone interview

This lasted 25 minutes and was with an ex-partner who then took over graduate recruitment. I was asked five questions in the telephone interview. I can't remember all of the questions, but I do remember:

• Why commercial law?
• Why Faegre Drinker?
• If you could start any business, what would it be and why? 

Where did the assessment centre take place?            

In the firm’s London office, after the vacation scheme. You are invited to attend the assessment centre if you impress on the vacation scheme and want to be considered for a training contract. 

What did the assessment centre involve?      

1. Partner interview: there was a 1-hour interview with two partners, one of which was the head of the London office, which included a variety of questions (detailed below). 

2. Written exercise: this was a 1-hour exercise in which I was asked to review a bundle of documents and then provide advice to a fictional client. 

Partner interview       

Motivation questions

• Why are you pursuing a career in commercial law?
• Why Faegre Drinker?
• What is it that you like about US firms?
• What are the disadvantages of working for a US firm?

Competency questions

• What do you think are the key skills/attributes needed to become a successful trainee?
• Tell me about a time you showed your creativity and were innovative.
• Tell me about a time where you worked in a team and there was an individual who had a competing view and you had to persuade them otherwise.  
• What is one thing you would change about your parents’ parenting style when you were growing up. 
• If you had to be an instrument, what would you be and why?

Commercial awareness/technical questions

• In your opinion, what are some of the advantages and disadvantages of Brexit for the UK?
• Tell us about an area of law you are interested in and why?
• Do you think M&A activity will pick up late in 2023 and in 2024?
• Why is restructuring and insolvency work on the rise at the moment?

Written exercise

I was provided with documents relating to an M&A transaction involving two pharmaceutical companies. This included the target company’s financial statements, information about a portfolio of its products, and a document outlining the target’s international strategy.

Our client was looking to acquire the target company and had some key questions which I had to answer, including:

• Is this acquisition financially lucrative?
• What is the difference between a share acquisition and asset acquisition?
• What is the difference between a vertical acquisition and horizontal acquisition?
• The target company has a lot of debt with suppliers and is going through a litigation claim at the moment. How could we deal with these risks?

What was the outcome?                                                  

The firm emailed me three days after the assessment centre to tell me I had been unsuccessful.

Do you have any specific advice on how to prepare?

General advice

• Research the firm: understand Faegre Drinker's values, culture, recent deals, and clients. Show that you are genuinely interested in the firm and can align with its ethos.
• Commercial awareness: stay updated on current affairs, especially those related to commercial law, M&A, Brexit, and restructuring. Be prepared to discuss recent legal developments and their potential impact.
• Technical knowledge: review key concepts in M&A, such as share vs. asset acquisition, vertical vs. horizontal acquisition, and the implications of debt and litigation in a transaction.
• Self-reflection: think about your own experiences and achievements, especially those related to teamwork, innovation, and problem-solving. Be ready to draw upon these examples during competency-based questions.

Motivation questions

• Why commercial law? Highlight your interest in problem-solving, negotiation, and the dynamic nature of commercial law.
• Why Faegre Drinker? Focus on the firm's unique qualities and values and how they align with your career aspirations.
• US firms and disadvantages: acknowledge the global reach of US firms, but be aware of potential challenges such as different working cultures.

Competency questions

• Key skills for a trainee: mention skills like attention to detail, communication, time management, and the ability to work under pressure.
• Creativity and innovation: share a specific example where you proposed a creative solution to a problem.
• Teamwork and persuasion: narrate a situation where you successfully navigated conflicting opinions within a team.

Commercial awareness/technical questions

• Brexit: discuss both advantages and disadvantages, considering economic, legal, and business perspectives.
• Interest in an area of law: choose an area of law you are genuinely interested in and explain why.
• M&A activity and restructuring/insolvency: support your answers with recent trends, statistics, or industry reports.

Written exercise

• Understand the scenario: carefully read the M&A transaction details and the client's questions to ensure a thorough understanding.
• Structured response: organise your response logically with clear headings and subheadings. Address each question separately, providing concise and relevant information.
• Demonstrate legal knowledge: showcase your understanding of the financial implications of an acquisition, the distinctions between share and asset acquisitions, and the different types of acquisitions.
• Risk analysis: delve into the risks associated with the target company's debt and ongoing litigation. Propose practical solutions or risk mitigation strategies.