As summer takes its last official gasp today, and we look towards autumn and all that brings (new term, law fairs, vacation scheme applications), there is just time to reflect on the business stories of the past week – look no further than this sparkling collection.

Freshfields Bruckhaus Deringer is now accepting applications for two upcoming events that are designed to help students learn more about life as a lawyer in a commercial firm, as well as entries to a competition with Olympics tickets as the prize.

Reed Smith has announced its move to a strengths-based assessment of its would-be trainees and vacation scheme students, becoming the first law firm to do so.

The British Inter-University Commercial Awareness Competition (BIUCAC) is running for the third time this year, sponsored by over 20 City law firms.

While you may be breathing a sigh of relief that the biggest vacation scheme deadline of the year has now passed, there is no time to rest on your laurels when it comes to improving your commercial awareness – if you get invited to interview, you need to have a few aces up your sleeve. The best place to start is by keeping an eye on the big business stories of the day – a task that we are only too happy to help with.

Newly qualified lawyer salaries at firms in the UK and US have skyrocketed in recent weeks as law firms continue to fight to attract and retain future legal talent.

We’ll keep it short this week as many of you are completing vacation scheme or pupillage applications. Commercial awareness is a key attribute that you must demonstrate in your applications as recruiters want to see that you have a knowledge of what is going on in the business industry, and how key issues might affect the law and the businesses that operate within it.

How should I ask for feedback after a vacation scheme or training contract interview?

MyLCN is an essential companion in your search for a training contract or pupillage.

Clyde & Co has announced that it is to recruit two legal apprentices for its Newcastle office, starting in September 2016. The firm already runs similar schemes in its London, Manchester and Guildford offices.

A number of firms' work placement schemes have been shortlisted for the annual National Council for Work Experience Awards.

Nabarro LLP, Simmons & Simmons and Slater & Gordon have been singled out for praise at the National Council for Work Experience Awards 2013, marking them out as some of the UK's best internship providers.

From September 2016 BPP University Law School is offering two new legal apprenticeships, in partnership with some of the United Kingdom’s leading law firms.                                                                     

City firms Nabarro and Simmons & Simmons have both won national recognition for the quality of their work experience and internship schemes at the National Council for Work Experience 2012 awards.

It’s vacation scheme season and that means it’s the perfect time to take a glance at the business world and ensure that your commercial awareness is up to scratch. Our commercial awareness page is a great place to start working out how to develop your understanding of the business environment and how to demonstrate this in applications, but first take a quick read of some interesting commercial stories from this week.

Lawyers at Linklaters LLP be offered new flexibilities around when they take their bank holidays under the firm’s new holiday scheme.  

It’s vacation scheme application season and subsequently a crucial time to think about the commercial issues affecting businesses and the legal industry. By considering the below news stories and working out how these issues could affect law firms and their clients, you are thinking commercially.

Is the realistic aspiration to own your own home becoming a thing of the past?