What is it really like to develop commercial awareness during a 2-week Vacation Placement? We spoke to Monica, who recently completed her placement with the Finance team in our London office, about her experience, key learnings and advice for future candidates.
Why did you apply to Pinsent Masons?
Pinsent Masons stood out to me because its sector-led approach aligned with my experience in energy and my interest in Finance. I was drawn to how the firm combines industry knowledge, funding structures and innovation, including legal technology, to support clients on complex transactions.
How did you prepare for your placement and what were your first impressions of the Finance Team?
Finance was my first-choice team. I had studied International Corporate Finance at university, and I wanted to see how the concepts I had learned academically worked in a real transactional environment. Before the placement, I researched the firm, the Finance team, its sector focus, recent deals and key finance concepts. That preparation made a real difference: it helped me understand the language of the team, engage more confidently with the work and ask better questions from the start.
My Supervisor and Buddy ensured I had the tools needed to understand the teams’ work and how it fits in the wider context of the firm. I could tell they wanted me to do well. The team introduced me to finance through formal training, task briefings, transaction calls, team meetings, shadowing and informal conversations. I had the chance to shadow my trainee buddy on certain tasks, which gave me a practical insight into how trainees manage instructions, prioritise work and communicate with the team.
I was also involved in tasks such as updating conditions precedent checklists, assisting with finance documentation, preparing search reports, drafting completion notes and supporting document management. What stood out to me was that tasks which may first appear procedural often have a wider purpose: they help the team monitor progress, manage risk and keep transactions moving.
How did the placement help you develop your commercial awareness?
The best example, and a highlight of the placement, was attending a presentation on interest rates and foreign exchange. I later prepared a summary for internal team use, which helped me practise filtering information and identifying what was most relevant to finance lawyers and their clients. I had to think about how interest rates, currency movements, geopolitical developments and market uncertainty could affect financing decisions, risk appetite and transaction strategy.
More broadly, the placement encouraged me to keep asking: “why does this matter?” During calls and task briefings, I saw how legal documents fit into the wider commercial structure of a transaction. I also learned more about concepts such as security, refinancing, risk allocation and hedging, and how they help clients manage legal and financial risk. This changed how I approached my work. Instead of seeing a checklist, search or document review as a standalone task, I started thinking about who relied on it, what risk it addressed and how it supported the client’s broader objective.
People often say “make the most of your placement”. How did you do that?
During the placement, I took ownership of my learning by reaching out to people across the firm, particularly in teams that connected with my interests in Finance, Corporate and Energy. Pinsent Masons encourages this through firmwide networking events and opportunities to meet people beyond your immediate team. These conversations helped me understand how different practice areas connect, especially on transactional matters.
I also kept a running note of new concepts, questions and resources to follow up on. Some of the most useful learning came from informal conversations, where people explained how they approach clients, transactions and commercial developments in practice.
What advice would you give students looking to build commercial awareness?
My advice to future candidates is to prepare early and be specific. Research the firm, its sectors, teams and recent work, then think carefully about how your own experiences genuinely connect to them. Throughout the assessment process, answer questions with honesty and authenticity. For the interview, make sure you can clearly explain why Pinsent Masons, why the role, and how your experiences demonstrate the qualities the firm is looking for.
Treat commercial awareness as a habit, not something you prepare once before an interview. I would also recommend reading around topics that genuinely interest you, because commercial awareness is much easier to develop when your curiosity is authentic. A useful test is whether you could explain a new concept clearly and hold a five-minute conversation about it with confidence. If you can do that, you are more likely to understand not only what the concept means, but why it matters in practice.
During the placement, ask thoughtful questions, volunteer for work and try to understand the purpose behind each task. Speak to people in areas that genuinely interest you, even outside your immediate team. Most importantly, keep asking yourself: “what opportunities and challenges might arise for the client?” That question helped me connect technical tasks to commercial outcomes.
What was your biggest takeaway from the placement?
The placement was an extremely rewarding experience, and it gave me a clearer idea of what to expect from my future training contract. I particularly enjoyed the mix of technical work, transaction management and commercial analysis. It also broadened my horizons by giving me the chance to learn more about other teams and how different practice areas work together to support clients. My biggest takeaway is to approach every task with the right mindset: staying curious, asking better questions and understanding how each task contributes to the client’s wider objectives.
