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Summer internship Banking & Capital Markets - main duties? watch

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    Has anyone already spent a summer intership with a MC-firm in Banking & Capital Markets Law? I would really be interested in how to prepare for it.

    What are the main duties of interns? As this will be my first law internship, I wonder what I will have to do.

    Thank you for your help :-)
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    Hone your coffee making skills ;-)
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    (Original post by crazyb)
    Hone your coffee making skills ;-)
    Are you serious? Is it really just senseless non-law duties?
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    (Original post by stookie)
    Are you serious? Is it really just senseless non-law duties?
    I wouldn't really know, I was just pulling your leg a bit. As with any internship, you might end up lucky and work on something interesting.
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    (Original post by crazyb)
    I wouldn't really know, I was just pulling your leg a bit. As with any internship, you might end up lucky and work on something interesting.
    Lol that is why I asked back ...but I still guess you could be right with the coffee skills.

    That is why I asked the question, I do not really know, if I should accept the offer or not. So if anyone has some experience with this case, I would be really thankful for advice
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    If you want to become a lawyer and have a Vacation Scheme offer from a Magic Circle firm, you would be crazy to turn it down without having Vacation Schemes at other firms. Vacation Schemes generally will involve lots of research, minor drafting, proofreading, bibling (collating lots of documents relating to a deal into one folder, known as 'the bible') and maybe attending meetings with clients. As I am sure you can appreciate, you are only going to be there for a couple of weeks and you are only a student, so they can't give you anything massively juicy to do. Even if that stuff that I listed sounds pretty dull to you, it can actually be quite interesting to see all the different documents that are needed for a deal.

    Moreover, a lot of the stuff that you'll get given to do is stuff that you'd be doing as a trainee at the firm so it can be a good way of gauging your enthusiasm for spending two years as a trainee doing fairly low-level stuff, plus a few more years as a junior associate, until you've worked your way up to more interesting and important work.

    There will probably be times when you don't have anything to do but that can be quite good as it will give you the chance to ask trainees and your supervisor lots of questions about working in the firm. You can also always ask your supervisor if you can read some of the documents that relate to the deal that he/she is working on which, depending on the deal, can also be quite interesting. I did three Vacation Schemes and another week of work experience and I never once had to photocopy, make coffee or anything like that. More often than not it was the supervisor making coffee for me.

    So if you have an offer you should certainly accept it. It will look great on your CV and most important it will help you to get a feel for the particular firm (and law firms in general) that you wouldn't otherwise be able to get. Then you'll be in a great position to decide whether you want to apply for Training Contracts.
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    You won't know enough finance law to actually be able to do any real work, so it depends very much on what your superviser gives you. You might sit with someone who tries really hard to make your experience as interesting as possible - such a superviser might organise for you to sit in on meetings with clients and explain the work they are doing. On the other hand, you might have someone rubbish who just gives you basic admin tasks - though I think research/admin tasks must be expected no matter who you sit with. Of course, the work your superviser can give you depends on how interesting the work he has on at the moment is.

    You'll probably have presentations, workshops, socials and various other bits and bobs organised by the graduate recruitment or HR people.

    There isn't much you can do to prepare - just be really enthusiastic and friendly when you arrive. You might want to keep an eye on the business news to see whats going on - to get you started, Manchester United have just issued £600m of bonds to refinance existing debt, you might be interested to look at one or two news reports on that.

    If you might want a career in a MC-type firm, you should definitely take the offer...
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    As Tommeh said it's worth going just on the basis that you might hate it. That alone would surely make it a worthwhile experience.

    (This may sound overly negative but I'm just highlighting another benefit of attending)
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    Thanks guys, your advice really helped me. Actually it is no vac scheme (as far as I know, they last for 2 weeks in Britain?) but for 6 weeks in Frankfurt, but I guess it will be pretty much the same.

    I am going to take the offer then

    Good luck to you all with your own applications.
 
 
 
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