Are you commercially experienced enough to get a graduate job as a trainee solicitor?

Commercial awareness is important to graduate recruiters at all law firms, but what it means in practice depends on where you want to get a job. For example, if you've set your sights on a leading national or international firm, you could develop relevant commercial awareness by reading the Financial Times and being aware of developments in the world of business, such as mergers and acquisitions among market-leading companies. If you want to work locally, familiarity with the ins and outs of local businesses will demonstrate your commerical nous, and if your career goal is a training contract with a firm that specialises in a particular area, such as shipping, you'll want to be aware of the most important players in the field and the sort of transactions that take place.

We asked trainees at a selection of law firms how they ticked the inevitable ‘commercial awareness’ box and why that awareness counts. 

Think about the customer

‘For me, commercial awareness is essentially being aware that the customer wants the best practical solution to their problem at a reasonable price. Law is an academic subject and it is easy to end up debating theoretical points of law. In reality, knowing the law is one part of what a lawyer uses to create a solution. It is important to get the law right, but that creates a framework in which a problem can then be solved. 

I think the best way of demonstrating commercial awareness is to be aware of its large scale and small scale implications. You need to understand the business in which the client operates, and this can be shown by taking an intelligent interest in areas that concern you. You also need to appreciate the commercial implications of the day-to-day decisions that you make.’

Matthew Wilson, trainee at Mills & Reeve LLP

Read the papers

‘You need to have a genuine interest in the business world and some basic commercial understanding. If you can use the jargon and talk intelligently about current market trends and deals in the press it could get you the job. 

At law school I founded the trading and investment club which managed a portfolio of equities and provided an immediate focus to my interest when reading the financial press. It also gave me a useful talking point at interview.’

Simon Saitowitz, trainee at Weil Gothal & Manges LLP

Find an aspect that interests you

‘As annoying as it may seem to keep being asked about ‘commercial awareness’, it’s important to remember that firms are asking for a reason. Nobody expects a trainee to understand all the fine details of a complex transaction but you will be of more value to the firm and, more importantly, your life will be much easier and more fun if you do have an understanding of the business world and the kind of deal that is happening. 

If this really isn’t your cup of tea, my advice would be not to treat it as something that you can swot up on before interview and then ignore, but to find an area you are genuinely interested in.'

Barbara Forman, trainee at Allen & Overy LLP 

Make sure you can think on your feet

‘I would say that it is less important to read the Financial Times every day and more important to be clear minded and willing to think clearly on the day of the interview. I do not believe that interviewees are expected to know the ins and outs of the latest M&A deals. It is more important to be able to think on your feet about how a particular industry operates.'

Richard Pinckney, trainee at Bristows 

Look for solutions

‘During training contract interviews I found that some firms wanted me to demonstrate commercial awareness by commenting on a recent business deal or topic of debate in the business press, while at other firms I was asked to prepare responses to a commercial case study. 

However an interview is conducted, demonstrating commercial awareness is not simply a matter of knowing the finer details of the latest deals. It requires an appreciation of the commercial considerations influencing clients. Interviewees need to show an understanding that lawyers are required not only to provide accurate legal advice, but also to assist clients as far as possible in finding commercially practicable solutions.’

Jennifer Roberts, trainee with the Covington & Burling London office