Tips for getting Commercially aware

With the time of year for vacation schemes and train contract applications truly upon us, here are some tips and pointers to truly becoming commercially aware.

We know it can be difficult when asked: “how would you examples your commercial awareness” to find a response on the spot. In our own opinions, there are some really savvy ways that you can become commercially aware and do it in a fun and interesting way.  Studying on a law degree then it’s obvious even to the smallest degree you have some Commercial awareness. With this blog, we look to help you boost your chances in applications and get that placement that you want and deserve.

Our first tip for “getting” commercially aware is to use a very popular app that you may already be clued up on. LinkedIn. Now many law students and business-minded people use this app every day. Correctly using LinkedIn can help you connect with professionals and other students studying in your area. LinkedIn for many is a very quick and effective way of receiving the most up to date law news and news from law firms. Being able to see what specific law firms are sharing can really help in interviews and can really show what that firm is passionate about. Even if you don’t want to go into the law many other business based firms want you to have a firm grip on commercial awareness, as well as being able to get your head around the world of business and economics.

Another valuable skill is the ability to read newspaper articles and online web articles. Finding a new paper that fits your reading style can take a while however once you find one it will make reading complex articles on commercial issues easier. Once you get a hang of reading these articles you will be able to understand the jargon involved, ultimately leading to a wider understanding of the topic you’re talking about allowing you to give a more thorough explanation when applying or in interviews for placements. Here are a few examples of newspapers that you may find useful when looking to improve your commercial awareness;  the financial times is a very popular newspaper for staying up to date with stocks and business and economics of many companies, The Economist is also another excellent newspaper that gives a real in-depth look into businesses and how exactly a corporate entity is run as well as insights into stocks and shares.

There is a really good way of gaining commercial awareness in person. Many universities and law firms will offer events throughout the year open to university students that will give a real insight into the legal world. Signing up to as many events that can give you a very wide scope of the sort of areas a law firm works within and what they are looking for their candidates to know and understand. Being able to talk to representatives from these companies is vital in building up your skills in commercial awareness and being able to speak confidently to a person in the legal profession about these topics. Which you will inevitably have to when you get to the interview stage of your application. Another tip would be to not just apply events with law firms look at other business companies and finance companies. Here you can broaden your scope of knowledge and improve the overall arc of what you can see and draw upon in applications, as well as the interview process.

A very useful tip that I received when starting my journey at university was to subscribe to specific commercial awareness apps such as finimize. These apps will give you clear and precise articles that can give you all the information you need on a specific topic. In particular, Finimize will give you a list each day on articles to read that best fit your specific needs and you can determine exactly what you read. Another tip that would tie into this is using your time well. We all have been in that situation on the bus to work or university where we helpless scroll through social media. However, if you use this time looking at articles even just once a week you will find your background knowledge in specific areas truly increasing. Ultimately this would give you the knowledge and skills that you need to prove to any employer that you are commercially aware and that you know how to use that information.

Being commercially aware is a major tool to any person looking to work in business, finance and law. Being able to get into the rhythm of reading and with the tips above we believe that you will show your future employer just what you can do and what you can offer.

We hope this blog has helped you and that are tips and pointers can really help you take your applications to that next level and get you the job of your dreams.

We have been the Almost Lawyers and we thank you for your time and support. Till next time Au revoir.