BPP to offer wealth management course to help young lawyers cope with skyrocketing salaries

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Some 20-somethings now earn £150k+

BPP University Law School is to teach students the art of good money management as junior lawyer salaries across the City reach unprecedented highs.

With the news that some 20-somethings could trouser northwards of £150k upon qualification, BPP has drafted in a top financial planner to create and design a new module to help would-be City lawyers cope with their “newfound wealth”.

The new offering, designed and run by Paul Welsh of the Financial Planning Corporation, aims to teach aspiring City lawyers about the importance of investments, tax, pensions, estate planning, and will structures. BPP will also offer students personal, one-to-one financial advice and consultation to help them make the transition from skint law grad to flush junior lawyer.

The launch of the course — the first of its kind in higher education, according to BPP — comes amid a major pay war among elite City law firms as they look to attract and retain the very best rookie lawyer talent. Legal Cheek‘s Firms Most List shows a host of US outfits London offices now dish out upwards of £145k upon qualification, while a number of magic circle players have recently pumped pay packets to six-figures with the potential for juniors to earn big bonuses on top.

With some City trainees earning as much as £55k during the first year of their training contract, BPP will also offer a series of online modules on ‘how to acquire good financial habits from your first day in the office’ and ‘how to manage your budget in your first year of work’.

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The decision to create the financial course follows research by BPP which showed that 93% of students had not been given any advice while studying elsewhere as an undergraduate about how to make the financial transition from life as a student to the world of work. Just half of prospective lawyers said they felt confident when it came to matters of money, while one in five (22%) said they would feel embarrassed talking to friends and family about their financial circumstances.

Welsh pointed to the large amounts of “dangerous advice and get-rich-quick films across social media” as one of the key motivators for launching the module. TikTok, for example, is “full of films of people in glamorous locations saying they can teach you to trade currencies or build a commercial property portfolio”, according to Welsh, and many people watching — including future City lawyers — “don’t understand that there is always an element of risk when it comes to investment”.

Jonny Hurst, head of outreach and student recruitment at BPP University, added:

“[I]t’s understandable that many young people aren’t that interested in personal finance until they start to receive a significant paycheque. But they really do need sound financial education before then… Our programme is designed to explain why sound money management is so important, even at the start of a career, and to highlight areas which are frequently overlooked or misunderstood by the junior lawyer community when dealing with their personal finances.”

As well as all financial savviness, BPP is also schooling its future lawyers in “business small talk” after research showed that a third of them don’t feel comfortable talking in front of a group. Launched earlier this year, the module is delivered by a conversation specialist and aims to better prepare students for the world of work.

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Legal Cheek Should Become the Barstool of Law (legal rager pls Thomas?)

Another cash grab course. What’s wrong with ADULTS making a lot of money?

Seriously, do you think NY market-rate salaried lawyers in their mid/late 20s in the US take courses for “wealth management”? After all, they’re making what would be considered “fat moolah” or “crazy whack” by UK standards.


BigLaw Chadd

Nah brah, we definitely don’t get those. But then again we also send most of dat phat whaccc up our nose via the Bolivian national express.


Fact check

Yes, they do.


If its like BPP’s other courses, they will spend weeks studying the rules for opening a bank account or an investment ISA.


US firm NQ

I would have ordinarily said that anyone intelligent enough to earn that amount of money is intelligent enough to manage their money wisely. But this just doesn’t hold true amongst a lot of my peers. A surprising number struggle to save much, let alone think about their pension contributions strategically with the effective 60% marginal rate of tax being paid between earning £100k and £125k. They just aren’t interested and bury their heads in the sand a lot of the time. But a good few of them will probably end up rich enough to not need to care anyway


6 year PQE

I knew a NQ colleague once (making around 80k I would imagine at the time?) who told me he was in crippling debt and barely made his minimum credit card repayments.

Inb4; 80k is peanuts etc. The point is that a comfortable salary does not = savvy financial skills.


The 99%






£80k isn’t peanuts to most people. It’s a shame you have no sense of perspective but a huge sense of entitlement.


6 year PQE

My “inb4” was in relation to the standard snobby response on this site that anything under £150k is laughable. If you re-read what I wrote you’ll see that I called it a comfortable salary, so I’m not quite sure where you got me having a sense of entitlement! My comment was in relation to the fact that even earning £80k a year, you can still be in debt and struggle to pay back your credit commitments.



About 3-4K in net savings after tax, bills, rent, spending etc for the handful of high earning cravath scale associates doesnt justify wealth management when they have 0 assets and high student debt unless their parents are rich in which case they’ve already learnt wealth management. Need investable assets north of a million to open a coutts account dear


Mid level law

After a few years as a USbigmoneylawfirm associate you could have about 300-400k in savings. This advice could be useful for that amount of money especially for somebody who doesn’t want to buy a house. However, if you’re at one of these firms advising PE / Investor / Bank clients I’d hope you’d know how to manage your own money!!!


Chancery Barrister


This course will be run by some St. James Wealth Consultant.

Just open an investment ISA and choose some active and passive funds. You would have to be a simpleton to not be netting off 10% capital growth on investments in this market.


Peter Piper

OMG – Chancery Barrister (formerly, ‘Chancery Pupil’). I remember you from the good old days (c.2015), before Legal Cheek started censoring comments and the site took a massive nosedive! Good to see that some of the old guard occasionally still visit 🙂


LamboAid Lawyer

So you’re saying I shouldn’t just make comments masquerading as a Kirkland NQ, positively visualising my LAMBO with inane comments while I wait for this contract lecture to finish?


Offshore phatman

This is nice and all, but why not then move to the warm, tax-free parts of the world and earn all that whack without giving anything to greedy HMRC?

Working so hard and earning such money only to see 50%+ of it vanish at the end of each month is an utter mugs game. And it’ll only get worse on the sinking ship known as the UK…


Charlie D'Amelio #1

I’m calling it here.

Linklaters GBP 100k NQ salary article incoming from Legal Cheek in the next 6-12 hours, if not earlier. Mark my words.

It will make it to the top of the most comments & most read section.

Cheers Thomas. Also, I miss Adam 🙁


Charlie D'Amelio #1

I’m calling it here.

Linklaters GBP 100k NQ salary article incoming from Legal Cheek in the next 6-12 hours, if not earlier. Mark my words.

It will make it to the top of the most comments & most read section.

Cheers Thomas. Also, I miss Adam 🙁 boohoo



This course is just a selling opportunity for “Financial Planning Corporation”. As someone above says unless you are lucky to have material investable assets, you don’t need to let some adviser take a skim on your savings. S&S ISA/Marcus/few other ETFs/premium bonds/P2P/bit of cash, etc. is all you need.


Confused Individual

Is there a course that will tell you whether to pay off your massive student debt, pay extra into your pension, pay extra into your mortgage (or save for a deposit), start investing (ISAs, ETFs, gold, watches), have an emergency fund (how many months) and in what order and ratio? 3 options needed – no parents (so no help/money ever, and nowhere to live in an emergency), moderate parents (some money), and extremely wealthy and generous parents (lots of money).

That would be handy (and please leave answers below).



Student debt is tied to income. If pre-2012 no point rushing. Interested to hear people’s views on the mortgage thing – presumably worth getting down to 75-80% type LTV ASAP to lock in a better rate.



Was looking at this a couple of weeks ago – the big gain is at 85% LTV. Based on what I found, paying that extra 5% would save me 7% of that additional amount each year (rather than the ~2% interest rate) because of the effect of the reduction in rates on the rest of the mortgage principal. Run your own numbers, but that seems like a better deal than overpaying (while waiting longer if you don’t already have 15% risks prices increasing generally).



I wouldn’t pay down mortgage debt any quicker. The savings on interest re-finance will not be worth tying up capital.

Max out ISA allowance and start to invest in funds, passive/active. This will be more than 95% of ppl can do. If you do that, then look to max out capital gains allowance of £12,300 per year. So, assuming 10% capital growth on investments, you can start the tax year on £123k saved, and then cash in the £12,300 captial gains at some point during the financial year. Stick the £12,300 in your pension, let the govenment top that up, and then start again with your capital allowance by putting £123k back in your stock and share fund.

Assuming you start today on £50k saved, put away £3k a month for 25 years @ 10% capital growth, you would be on £4,241,710.00 of which £3,291,710.00 would most likely be (tax free) capital growth.



I agree with all of this, save for the very optimistic assumption of 10% annualised capital growth.

Some might prefer the feeling of “safety” of having a smaller mortgage, but it isn’t financially optimal and the bank can still chuck you out until you’ve repaid everything. If that’s what you want, I’d grow your excess capital outside of the house, then top up as you remortgage to unlock lower rates, or just wait until you have enough to pay everything off.


A fintech app called Multiply is built around this idea (with a focus on getting you to the point of buying your first home)and has done a few seminars covering this recently. I watched them live, but they’re now on YouTube.

The first session covered the basics quite well and is available here:



Pointless doing these courses when these young people are going to pay 50 percent in income tax…


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