Clifford Chance increases financial support for incoming trainees
LPC and SQE cohorts provided £12.5k maintenance grants
Clifford Chance is offering its future trainees £12,500 in financial support during the Legal Practice Course and Solicitors Qualifying Exam.
Up until recently the magic circle firm provided £10,000 in maintenance to its LPC students. It has increased this sum by 25% to £12,500, matching the grant to be offered to SQE trainees.
Legal Cheek understands the rise applies to its current LPC cohort, who will be provided the top-up payment in May.
CC’s current crop of trainees study at law school BPP, before the firm switches to rival ULaw for the LPC in July this year and the SQE in 2023.
The Canary-Wharf based firm is one of the largest training contract providers in the City, with an annual intake of around 95 trainees.
Every few years, against the backdrop of rising inflation and living costs, the elite law firms in London increase the amount they provide in maintenance to future trainees. Whilst costs will vary depending on student lifestyles, a university guide recently estimated that the maximum amount needed for a course lasting nine months or more in London is £12,006.
Fellow magic circle firm Linklaters already offers future trainees £12,500 in maintenance, our Firms Most List shows, whilst US law firm Sullivan & Cromwell tops the table with £12,850.
The rest of the magic circle, Allen & Overy, Freshfields and Slaughter and May, as well as a number of other major players in the City, offer £10,000 to support trainees through their studies. Though we understand that some TC holders are considering emailing their respective graduate recruitment teams to match CC and Links on the £12,500 figure.
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Cute but according to Legal Cheek’s Most List, Shoosmiths offers a 14k LPC grant!
Isn’t that just for the LPC fees though? No maintenance grant from Shoos.