Author
Author
The life of a trainee solicitor is a bit like being a kid in a candy store – a chaotic combination of choice and sensory overload. From the moment you start your training contract, you are thrown into a world of new experiences, clients, and legal intricacies. My first foray into the transactional world was in Transactional Real Estate (TRE), where I was taught the ropes of leases, acquisitions, and development agreements. Adjusting to this type of work was an interesting challenge, one that not only stretched my legal skills but also laid the groundwork for my transition into Banking & Finance.
Three months ago, I made the move from the world of property law to the world of loan agreements. While both areas are rooted in transactional law, the jargon in Banking & Finance got a whole lot more cryptic – and the work itself became more fast-paced. Yet, amidst the chaos of a seat rotation and the need to quickly find my feet with a new team and new tasks, I found myself noticing some surprising similarities between the two seats. The transition was less jarring than I had expected, and that got me thinking: what lessons from my time in TRE could I apply to Banking & Finance?
Core takeaway – skills subsist
One of the most reassuring aspects of switching seats was realising that many of the skills honed in my first seat – though specific to Real Estate – had direct applicability to my new role. Despite the differences in the subject matter, the basic principles of transactional work remain remarkably similar, making the transition much smoother than anticipated.
In TRE, I learned to draft and negotiate contracts and handle the intricacies of multiple parties in complex and often high-stakes deals. I improved my organisational skills in order to work to tight deadlines and ensure tasks were carried out efficiently and effectively. I became confident in using my initiative to pre-empt tasks like HM Land Registry applications and communicating the transaction’s progress to the client. These skills did not disappear when I moved into Banking & Finance but simply required adapting to the new context.
This concept – “skills subsist” – became a guiding principle during my seat rotation. It was reassuring to know that I was not starting from scratch. Sure, there was a steep learning curve in understanding the technicalities of banking law, but the core skills that I developed in TRE had set me up with strong foundations.
Transitioning from one transactional seat to another is an opportunity to build on what you have already learned. It can feel like starting over, but in reality, you are just layering on new skills to your existing foundation. In other words, embrace the chaos of a seat rotation – because with it comes an array of new opportunities.
For example – client contact
A key example from the seat change is the importance of client contact. In my first seat, I quickly learned how crucial it is to develop client relationships. As part of a team, I was involved in liaising with clients, updating them on the status of transactions, and managing their expectations. This early exposure to client-facing work helped me build confidence and allowed me to handle more responsibility as my training progressed.
When I moved into Banking & Finance, I was initially concerned about how I would navigate client relationships in this new area. Would I feel out of my depth? Would I be able to communicate banking concepts clearly? But what I quickly realized is that, regardless of the area of law, the fundamentals of client contact are the same. The key is to listen closely, ask the right questions, and stay calm under pressure.
In my new seat, I was given the responsibility of leading client calls, drafting correspondence, and addressing client concerns directly. While it was initially nerve-wracking, the skills I had built over six months in a different area of law were transferable and helped me establish myself as a reliable point of contact for clients in my new team.
Building confidence in client interactions can take time, but it is a process that is nurtured through experience and trust. Even in a new transactional area, those skills do not go away – they only become more refined!
The power of similarity
I will need to experience a contentious seat rotation before my training contract ends, but having started with two similar transactional seats has been incredibly beneficial where the transition between seats has felt less like a leap and more like a logical progression.
Skills we develop as trainees are often more universal than we give them credit for, so for anybody facing future seat rotations or for those concerned about this element of the training contract, think of it like stepping into a sweet shop – there is a whole world of new opportunities to discover, and you have already got the tools to make the most of them.