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1 ACKNOWLEDGEMENTS Many thanks to all those who made this production and publication of the 2018 Sydney University Law Society Careers Guide possible. We would like to thank the Sydney Law School and the University of Sydney Union for their continued support of SULS and its publications. suls executive Rebecca Elder (Vice President - Careers) platinum sponsors Christina Zhang (Design Director) Aleks Pasternacki (Publications Director) Allen & Overy Olivia Grivas (Sponsorship Director) Clayton Utz Gilbert + Tobin Herbert Smith Freehills careers guide team King & Wood Mallesons Aashray Narula Alan Zheng gold sponsors Andrew Serb Angela Zhang Anh-Tuan Nguyen (Editor-in-Chief) Allens Linklaters Ben Holmes Ashurst Gracie Adam Baker McKenzie Hasan Mohammad Corrs Chambers Westgarth Natiq Islam Johnson Winter & Slattery MinterEllison design corporate sponsors Christina Zhang ANU Legal Workshop Arnold Bloch Leibler Bain & Company The Boston Consulting Group Clifford Chance The College of Law Commonwealth Bank of Australia DLA Piper Jones Day K&L Gates Maddocks Norton Rose Fulbright Piper Alderman Sparke Helmore Thomson Geer copyright & disclaimer © Sydney University Law Society 2019 This publication is copyright. Except where permitted under the Copyright Act 1968 (Cth), no part of this publication may be reproduced or stored by any process, electronic or otherwise, without the specific written permission of the Sydney University Law Society. The views and opinions expressed in this publication do not necessarily represent those of the Sydney University Law Society or Sydney Law School. Although the Editors have taken every care in preparing and writing the Handbook, they expressly disclaim and accept no liability for any errors, omissions, misuse or misunderstandings on the part of any person who uses or relies upon it. The Editors and Sydney University Law Society accept no responsibility for any damage, injury or loss occasioned to any person or entity, whether law students or otherwise, as a result of a person relying, wholly or in part, on any material included, omitted or implied in this publication. 2 CONTENTS 3 CONTENTS 4 FOREWORD 5 law school to law career LAW SCHOOL TO CAREER JOURNEY 6 7 8 9 PRACTICE AREAS • banking and finance Banking and finance law is a diverse amalgam of numerous areas of commercial law relevant to the operation and regulation of banks and financial institutions. Banking and finance lawyers typically advise these clients on a range of specialist areas, the common thread of which involves borrowing and lending transactions. Lawyers will commonly draft and negotiate financing agreements and may provide legal advice during strategic projects such as mergers and acquisitions. Some of the noted specialist areas include: • Acquisition finance: a loan made to a corporate borrower or private equity sponsor for the purpose of acquiring another company. This includes leveraged finance, where the borrower uses a very large amount of borrowed money to meet the cost of a significant acquisition without committing a lot of its own capital (this is called a leveraged buyout or LBO). • Asset finance: this enables the purchase and operation of large assets such as ships, aircraft and machinery. The lender normally takes security over the assets in question. • Project finance: the financing of long-term infrastructure and public services projects, where the amounts borrowed to complete the project are paid back with the cash flow generated by the project. • Islamic finance: Muslim borrowers, lenders and investors must abide by Sharia law, which prohibits the collection and payment of interest on a loan. Islamic finance specialists ensure that finance deals are structured in a Sharia-compliant manner. • Real estate finance: a loan made to enable a borrower to acquire a property or finance the development of land and commonly secured by way of a mortgage on the acquired property/land. • Financial services regulation: lawyers in this field ensure that their bank clients operate in compliance with the legislation regulating the provision of financial services. • litigation and dispute resolution Litigation is often termed a ‘back-end’ practice area given that litigation lawyers advise clients who have experienced a breakdown in a relationship, commercial or otherwise, which has necessitated bringing, or responding to, legal proceedings. Litigation can touch on any area of substantive law, with litigation lawyers expected to understand those legal principles in addition to the relevant procedural law. Litigation lawyers can expect to be involved in a wide range of tasks from advising clients on their prospects of success, determining a client’s strategic direction and appearing before various courts and tribunals. Additionally, with the availability of a wide range of alternative dispute resolution (ADR) methods such as negotiation, mediation or arbitration, litigation lawyers play a key role in advising clients on the appropriateness of ADR and representing clients to achieve a favourable outcome. • commercial law Commercial law, also known as corporate law, is a diverse area of law that encompasses a range of legal rules relating to the regulation of businesses and individuals who engage in commercial activities. Therefore, commercial law is an umbrella term under which sits areas such as corporations law, securities and capital markets law, banking and finance law, tax law and contract law. Commercial lawyers assist their clients to navigate the complex legal regimes governing their commercial activities, advising on diverse areas such as capital raising, mergers and acquisitions, corporate restructuring or liaising with the corporate regulator, the Australian Securities and Investments Commission. The areas of the law forming part of commercial law tend primarily to involve advisory and transactional-based work, with lawyers at commercial law firms providing both advice to clients on how they might operate their business compliantly with the relevant legal regimes, and assistance in strategic transactions such as acquisitions. 10 11 OVERVIEW OF ORGANISATIONS • summer clerkships in law firms • international law firms Summer clerkships provide an excellent opportunity to understand how the world Applications for overseas vacation programs generally close earlier in the year of commercial law operates, and can often lead to a graduate position. Clerkship than summer clerkships. Firms also often fill positions on a rolling basis, so try and programs are generally offered over the university summer vacation period from submit your application well before the deadline. Be prepared for commercially late November/early December until early February. orientated questions in particular. Similarly for graduate recruitment, be aware that applications do not occur at the same time as Australian firms. Some firms The Summer Clerkship Program is generally open to penultimate year law students recruit up to two years in advance. only (LLB IV/LLBV and JD II), however final year students with an extra semester left in their degree are also encouraged to apply. • government departments and agencies The clerkship process begins with clerkship presentations by law firms throughout Government departments and agencies generally recruit candidates through Semester One. Some firms also host information sessions at their offices and run a graduate intake selection process, and most do not offer summer clerkships skills and interview workshops. (notable exceptions including the Department of Prime Minister and Cabinet, and the NSW Department of Attorney General and Justice). The application process for summer clerkship programs is usually conducted through cvMail or the firm’s own websites and are run through the Law Society The application process usually involves formal interviews in a question-answer of New South Wales. This year, applications are open from 11 June 2019 to 14 July style, group discussions, and psychometric and aptitude testing. 2019. The application process is often time-consuming and competitive, with some firms often receiving up to a thousand applications. • social justice The selection process typically includes first and second round interviews, and events such as information nights, cocktail evenings and group discussions. Most social justice organisations do not have formal internship or vacation Ability assessments and behavioural or performance-based testing are also being programs, but take volunteers in their penultimate and final years at university. increasingly used, either as an additional requirement to qualify for interviews, or Many also offer graduate opportunities however application procedures vary at a later stage in the interview process. significantly between organisations. Some social justice organisations also offer international opportunities – see individual organisation profiles for further At the conclusion of the interview and assessment process, some firms hold a information. pre-offer cocktail evening so you can meet other people from the firm. This year offers are made on 18 September 2019 and successful applicants must accept or decline by 20 September 2019. • courts and adr Careers in the Courts and in dispute resolution may be an attractive option for students interested in the process, judgement and resolution of legal disputes. • graduate programs in law firms The application processes for Associates and Tipstaves vary – see the Courts Many law firms may not participate in an independent