Hi Gaganjyot,
Thanks for getting in touch, and sorry for the delay in getting back to you. For what it's worth, here's what I think about the application process. Unless specifically stated, please assume that all references are for HSF only. Where I have provided inputs for other firms, I have relied on my own discussions with employees, and a few helpful emails from friends in A&O, Links, Quinn Emanuel, CC, Ashurst, Norton Rose and Baker. Should anyone need help with any of these firms, please feel free to let me know and I will put them in touch with friends in those firms.
Here are some pointers for the application process (again, for HSF, unless otherwise stated). Apologies for any typos/errors that may have crept into this hastily typed email:
1. There is no ideal candidate (largely uniform across firms - I am told that some firms such as A&O, CC focused a lot on grades in the recent past)
If you're thinking of pulling out or otherwise not going in full steam because you think you're part of the same profile (if any such profile seems to exist at all) as others who got it, think again. If you truly consider the full list of individuals who have been hired, there is no single kind of graduate they're looking for.
2. That said, you need to know your law
Your interviews (usually two in number) will consist of at least one competency based interview, which will follow your case study. If you have something in your application which is not usual, this process will be a little more rigorous than usual. Relevant factors affecting this stage could include your CGPA, other aspects of your academic and extra-curricular performance, and anything specific that you have mentioned in your essay.
The interview is as much about the law, as it is about your commercial awareness. It is good to know what a provision says, but better to know how you'd go about answering a client's query which may not lead you to the provision (or, indeed, require you to cite a provision/extract at all). Are you aware of what's been happening in the Indian and international market? Have you tried to develop a sense of where the markets and the economy is headed? Faced with a case study (like in the case of HSF), are you able to identify not just the issues which may be legally problematic, but do you also go about finding answers in a way that would satisfy not just a lawyer, but a businessman/businesswoman as well? For instance, Links in particular will give a case study which will involve replying to client queries on the spot (E-tray).
Remember, that at the end of the day, your're in the services industry. Knowing the answer is as important as knowing how to present the answer.
3. Keep an eye out for the what the firm stands for
Throughout the application process, GD and interviews, the partners will be looking for indications that you will not only be an asset to the firm in terms of your legal ability, but also to see if you will fit in well in the firm. It pays to learn as much as you can about the firm, its values, objectives (business and otherwise) and pick up a few things from the ones working in the firm you're aiming for.
4. Spend time on your essay
Your essay is the tool to use make your case before the firm. Everyone puts in sufficient data to print out a neat report providing a summary of your grades and other qualifications, but the essay is something that's yours to shape. Spend time on it, and think like a reviewer - what would you like to read? Structure your answers well and try to use simple, short sentences (feedback across firms). Try and present a comprehensive, clear picture of what all you have done in college, in so far as the same would be relevant for the application. I also think it is not wise to think some activities/qualifications look better than others - if you're passionate about something, have committed yourself to the idea/activity and have created an impact, it's as good as someone who did a fantastic moot with half a heart (irrespective of how he/she did in terms of rank - remember, this is not about what you did, it's about what you learnt, what challenges you were faced with, and how you went about the process)
5. Be honest (applicable to all firms without exception)
I cannot emphasize the importance of this aspect. If you haven't done something or achieved a particular position on any ladder, do not try and make it seem like you have. The law may have adopted a degree of tolerance towards puffery in some cases, but law firms have not. It is very, very easy to pick holes in a story which is not backed by facts or experience. The slightest hint is enough to raise a suspicion in the mind of an interviewer, and from there on, you're fighting a losing battle.
6. The HR interview is no less important (across firms)
The firm is not just looking at you for your technical ability, but also to see whether you will add value to the firm at large. Firms (especially HSF, A&O, Links) may also like to know where you see yourself in 5-10 years. Why are you attracted towards a firm? Why does the law interest you? If it does, why commercial law? Why did you think about working outside India?
7. Misc.
Firms will typically have unique components as part of the application process. For instance, the HSF GD counts for a lot, and a lot depends not just on what all you know, but how you participate in a group discussion. Again, just be yourself and think logically. For instance, even if someone in front of you is making the right point, would you like it if they were soft yet assertive about it, or brash and aggressive?
Some firms, such as Links (HSF also had a separate online assessment), will also have a dedicated logic-based test (Watson Glaser, from what I am told). You can also give this test later to see how you fare v-a-v the online evaluation.
That's pretty much it! This may not contain as much detail as one would want, but please feel to get in touch if you need anything else (from me, or from anyone in the firms listed above).
Good luck!
Dheer