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Freshfields becomes second magic circle firm to bump GDL maintenance grant to £10,000

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72

Just weeks after boosting NQ pay to £100,000

Freshfields has upped the financial support its future trainees receive during their time studying the Graduate Diploma Law (GDL) by a healthy 38%, Legal Cheek can reveal.

Soon-to-be trainees at the Anglo-German giant will now receive £10,000 in living support, up from a previous rate of £7,250. The move sees Freshfields become only the second magic circle outfit to dish out the coveted five-figure sum, following a similar move by Clifford Chance earlier this month. Freshfields also offers future trainees £10,000 in maintenance support during their time on the Legal Practice Course (LPC).

The 2019 Legal Cheek Firms Most List

The firm’s trainee development partner, Craig Montgomery, told Legal Cheek:

“We are committed to recruiting and retaining the very best talent in the market and invest in our people at every step of their career with the firm.”

Elsewhere, Allen & Overy offers its TC holders £9,000 in financial support during the GDL, while their counterparts at Linklaters and Slaughter and May receive £8,000, respectively. Legal Cheek’s Firms Most List shows that US outfit Sidley Austin tops the GDL maintenance market with £11,000.

Freshfields’ GDL maintenance uplift comes just weeks after we revealed the firm had boosted the salaries of its newly qualified (NQ) lawyers to £100,000 — an impressive uplift of £15,000 or 18%. The money move, which saw the firm rocket to the top of the magic circle NQ pay table, puts its young associates on the same levels of cash as those at US outfit Covington & Burling (£100,000) and just behind those at US titan Sullivan & Cromwell (£101,500).

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72 Comments

Anonymous

No way S&C pay NQs only 105k. Can’t believe anyone can write such a poorly researched article.

(12)(0)

Anonymous

But but – it’s the LC ‘Most List’ – the ultimate authority on City firms

(10)(0)

Anonymous

S&C pays £140k NQ. They ought to sue LC for spreading such garbage

(9)(6)

Anonymous

Cry

(1)(0)

Anonymous

Garbij

(0)(0)

Anonymous

SullCrom pay £12,850 as their grant.

(11)(0)

Anonymous

Yes but they pay Legal Cheek nothing.

(23)(0)

Anonymous

Those retention figures must have been a wake up call…

(2)(0)

Anonymous

What? 66%, 74%, 84% and 78%? It varies depending on business needs across the firm.

(0)(3)

Septic Raider

I just took such a monstrous dump I must be 4lbs lighter holy fuck

(0)(0)

Anonymous

What does ‘the very best talent’ even mean?

(0)(0)

Anonymous

White, male and posh, just like him.

(27)(5)

Masturbatur

It means fuckall

(0)(0)

Anonymous

This just goes to show that they are having problems not only retaining their trainees but also recruiting the ones they want, who, for good reason, are increasingly choosing to go elsewhere.

(4)(0)

Anonymous

Legal Cheek is boring

(0)(0)

Anonymous

That’s because it’s just an advertising platform for its sponsors. This is not journalism, it’s marketing. Thomas you are dirty.

(5)(0)

Anonymous

That’s what Katie King used to say.

(2)(0)

Anonymous

That’s what Adam Mawardi says now.

(0)(0)

Anonymous

Who?

US 2PQE

Why is Legal Cheek reporting that SullCrom pay their NQs £101,500? This figure is wrong by over £25,000!

It should not be hard to find out the exact figure and verify this. In 2018 they were paying their NQs £139,000.

Sloppy reporting. Stop reporting completely inaccurate salaries using data from 3 years ago if you don’t know the figures.

(12)(4)

Anonymous

IT IS OF VITAL IMPORTANCE THAT EVERYONE KNOWS JUST HOW MUCH MONEY I EARN!! Kind regards, Shouty 2PQE

(26)(2)

Anonymous

Um, journalism is supposed to uncover the truth, not perpetrate nonsense? His reply fixed the ridiculous statements in the article and I’m glad it did as I was curious how much they actually paid.

(5)(4)

SullCrom NQ

Yes actually it is of vital importance. I didn’t slave away at Eton, Trinity Cambridge and qualify here for nothing.

(8)(1)

GARBIJ

Harr harr farr blarr

(0)(0)

Anonymous

Please just spend a day researching the correct NQ rates and update the Most Lists!!!!

(2)(0)

Anonymous

Still not Latham or Kirkland

(7)(0)

Anonymous

Freshfields is toxic, stay away

(12)(3)

Anonymous

Based on what information do you believe this? I’ve hear only good things about the firm

(1)(2)

Anonymous

That’s because your head is up their arse

(5)(0)

Anonymous

Lol Linklaters maintenance grant has been at £10,000 for months now too. Get ya facts right

(5)(0)

Anonymous

Stop deleting comments that don’t market your sponsors in the manner that you’ve been instructed to.

(3)(0)

Anonymous

Law students and non-law students who want to become lawyers: does money actually matter in your consideration of law firms?

(0)(0)

Anonymous

????? How is that a question?

(5)(0)

Anonymous

Yes. Most law students will refuse to join a firm paying less than Kirkland.

(1)(4)

Anonymous

Lmao yeh sure. Let’s speak again once you’ve bagged a TC phucko

(3)(0)

Anonymous

Yes. Massively. Why else would I sign up to sacrificing the prime of my life?

(0)(1)

Anonymous

So that’s your price? 10,000? Not much in the scheme of things.

(0)(0)
(0)(0)

Anonymous

Freshfields is an unpleasant place for trainees and junior lawyers. All the marketing leads you to believe that they’re a friendly and supportive firm, but when you do start working for them, it’s nothing like what the brochure said. There’s internal competition for seats and departments, it’s very hierarchical and Oxbridge, there’s a highly patronising attitude from seniors that if you can’t take it, then you’re just not good enough, even though there’s no self-examination from their part on how they treat their subordinates and whether they inspire people to do their best. If you have the talent to be offered a training contract at Freshfields, you no doubt have excellent offers from elsewhere. If I had my time again, I would have gone elsewhere. This place is a snake pit.

(44)(2)

Anonymous

This comment will be deleted because it breaches Legal Cheek’s sponsorship policy in 3, 2, 1…

(3)(0)

Anonymous

Would you rather be the world’s best lover and have everyone think you’re the worst, or the world’s worst lover and have everyone believe you’re the best? Freshfields wants you to believe they’re the best.

(0)(0)

Kirkland NQ

I’m both the best and everyone knows it, so can’t relate.

(3)(1)

Anonymous

Bugger off cretin

(0)(0)

Anonymous

If you said you’re 5ft 4in and deadlift 80kg I would say I know who you are.

Latham NQ

Only 150kg on the bench? Pah

Freshfields NQ

I lift.

Anonymous

Barely even has prestige anymore. Why go and do PE there when you can do it at Kirkland or Latham

(2)(0)

Anonymous

PE is not prestigious. You’re a fund’s little bitch. Proper lawyers advise public companies.

(8)(10)

Anonymous

Congratulations, you know where PE firms get their cash. Why is it only PE booming in the city? Public takeovers and verification? Sure, sounds good.

(5)(1)

Anonymous

You’re right PE is so so so undesirable that the highest earning partner in the City of London, David Higgins, is a PE specialist…

(8)(0)

Actuallyalawyer

Everyone knows that public bidder public target M&A is the most prestigious work in corporate law. Not doing an MBO for some PE house.

Anonymous

This person probably doesn’t work at FF because I don’t recognize the place you are talking about at all.

(0)(9)

Anonymous

Hi HR!

(7)(0)

Help

Do you enjoy commercial law though? Many seem to regret the career after their training contract?

(0)(0)

Anonymous

No one really enjoys poring through contracts in the data room, that’s why there’s such an obsession with money and prestige.

(1)(0)

Anonymous

https://www.brightnetwork.co.uk/graduate-jobs/freshfields-bruckhaus-deringer/graduate-trainee-development-executive

They’re recruiting a trainee development executive as well, the fourth one in five years.

(1)(0)

Anonymous

Are you surprised? All the previous TDEs ran out of the door once they witnessed the abyss

(1)(0)

Anonymous

The abyss of trainees? They recruit the best candidates and treat them like children. They make life harder for themselves by not seeing trainees as young professionals but rather a nuisance to be managed. Trainees really aren’t that bad.

(5)(0)

Anonymous

True. But there is always that one (more) whiny little prick(s) who colour your view of the whole cohort.

(0)(0)

Slaughters 1PQE

Shitfields Bruckshit Shitinger

(3)(0)

Anonymous

TOP BANTZ!!!!!!

Anonymous

Okay Freshfields NQ

Anonymous

Whatever.

(0)(0)

Anonymous

latham or mc for tc?

(0)(0)

Anonymous

Latham. Global brand recognition and the people are diverse and pleasant.

(2)(0)

Anonymous

Quite. That hilarious moment when you ask someone in the US about Freshfields and they ask whether it’s a supermarket LOL.

(1)(0)

Anonymous

Brothers!

Sisters!

Outrageous greed!

VOTE CORBYN

FOR THE MANY, NOT THE FEW!!!!

(3)(4)

Anonymous

Vote Corbyn for outrageous greed? No ta.

(0)(0)

Anonymous

Yeah those fat cats living off 10k per annum in London. What disgraceful greed.

(2)(0)

Anonymous

Anon@12.59, you are a student right? PE funds work /acquire listed companies, it is known as take private. Equally often a sale of a portfolio company, will often be a public listing, as opposed to a trade sale or to another PE Fund.

Hope that helps

(6)(2)

Anonymous

You sound like a gorgeous man and a gentle lover.

(0)(0)

Anonymous

Or a fruitcake.

(0)(0)

Comments are closed.

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