Commercial Awareness for Solicitor Apprentices Week 8

Introduction: This week we interviewed Jacob Elsdon who is a solicitor apprentice at Osborne Clarke. We also look at the legal perspective of high street bank branch closures and the potential solutions, and for our international outlook we look at the exciting merger between Herbert Smith Freehills and Kramer to create HSFK subject to partner approval. Finally, I give my advice on how to demonstrate key transferable skills without sounding generic to create a genuine and interested candidate profile for future employers. 

1) Tell us about your background

I am currently a second year Solicitor Apprentice at Osborne Clarke, and have gained exposure to both our Employment and Corporate departments so far. Before OC, I attended a state secondary and sixth form, where I studied English Literature, Sociology and Drama. There are no set A-Levels which you need to have studied to be interested in a career in law.  

2) What's it like working at a commercial law firm?

Moving from a sixth form setting where you have several hours of free periods per week, and are exclusively focused on studies, to a commercial office setting was definitely a bit of a shock to the system! But with some great support from OC, I now feel well imbedded into the office environment and confident to learn and develop as a young professional from some of the industries leaders. 

3) Is the application process different when applying to a multinational law firm ?

Each application process will have its slight nuances, but most follow a similar structure of written application, verbal reasoning, interview and assessment centre. However, one of my biggest pieces of advice is to actively make sure that all of your applications are different. Write each application with specific examples of research you have done into a specific firm and this will help you stand out. 

4) What advice would you give to someone who doesn't want to apply due to fear of rejection?

Fear of rejection and imposter syndrome can feel very real, and lawyers across all levels of seniority share a similar sentiment. Try not to get too much in your own head, and use the various stages of the process as an opportunity to show off your ability and eagerness to learn. 

5) What travel opportunities are there at Osborne Clark?

OC takes apprentices across all three of the UK offices (London, Bristol and Reading), and as such, you have the opportunity to travel to these locations and network with a wide cohort of apprentices from Year 1 all the way to qualification.

Interview takeaway: Jacob exemplifies the transition from structured school life to a dynamic commercial world. His advice on applying to a multinational law firm is particularly insightful in a globalised world. 

Commercial legal explainer: 

A recent news article about post office potential closures resonated with me, and I was inspired to investigate the legal protections of high street banks, particularly for vulnerable customers.

FCA( Financial Conduct Authorities ) rules stipulate that banks must keep high street branches open in areas where public transport is lacking; with the express aim being to ensure children and the elderly are not limited by a potential lack of a car to access personal finances. However, the issue that concerns many campaigners is the role of commercial interest and profit overriding a duty to the public that creates ‘financial black holes’ in many areas. The other issue is that deciding whether an area has adequate public transport can be subjective and ignore certain personal factors such as work and family commitments that may affect one's ability to use public transport and thus not be able to access a bank. This is most pertinent in one bus a day cases with a small window to access bank branches in rural areas in particular. 

One solution that is being promoted is the role of banking hubs. This involves banks working together with a third party provider who can help everyone access their bank accounts and give out impartial financial advice. This creates opportunities for social mobility and inclusion, however bias combined with a new enterprise in its infancy means we will have to wait and see how the public reacts to the banking hubs. 

*Interview tip: Being able to show empathy for the vulnerable and indeed everyone's finances is vital. Too often we see commercial lawyers forget the human motivation for law that can keep us grounded. If we were in that position, how would we feel; asking ourselves this question and considering the solutions can show an enterprising mindset that is client focused as many banks want to strike the balance between profit and not seeming out of touch and our client focused approach is what could get us hired. 

Worldwide commercial law news: Herbert Smiths Freehills has merged with Kramer which is an American law firm to create HSFK, pending partner approval.

This reflects just how truly globalised our world is, because collaboration between businesses across the Atlantic ocean can lead to increased revenue and profit streams. HSF is well respected in the UK and Kramer is well respected in the US, and with many companies being international then cooperation is key. An internationally respected firm can generate increased interest from clients which leads to businesses recommending other businesses to these law firms. The political contrast of the US and the UK may lead to regulatory challenges for American businesses operating in the UK, and negotiating the new legal framework, particularly on Mergers and Acquisitions will be hugely important as both governments seek to stimulate the economy to fuel income streams for individuals and businesses alike.

*interview tip: If applying to Herbert Smith Freehills, this article is perfect for you. You cannot go in blind and unaware of a huge structural change, sometimes the first few years after a merger can be difficult, and as aspiring apprentices we are expected to jump right in with full confidence to deliver a client centred approach that is very much ‘business as normal’. This advice applies to any merger, as seen most notably in the A & O Shearman merger that has created an even more successful magic circle law firm. 

Advice from someone in the same boat: 

A lawyer has to have a plethora of soft skills when entering the commercial world. However, sometimes buzzwords are thrown around carelessly in applications and it can lead to a lack of personability in applications. To counter this, I sat down and I asked myself how I can demonstrate key skills like: critical analysis, communication, advocacy, problem solving, creativity, teamwork, listening, writing in academics to name but a few. It can involve being on the student council, doing an EPQ or doing a debate in lesson, every contribution to your repertoire of skills makes a difference, and the application is where you have the opportunity to showcase every skill you have to show employers you are the one.