HSF ups financial support for future trainees studying the LPC to £12,500
New figure matches majority of magic circle
Herbert Smith Freehills has confirmed to Legal Cheek that it has increased financial support for future trainees undertaking the LPC (Legal Practice Course) by a quarter.
The global law firm provided £10,000 in maintenance to LPC students and has now increased this sum by 25% to £12,500.
The firm, part of the City Consortium, sends its future trainees to BPP University Law School
This uplift comes less than two weeks after fellow City Consortium firms Freshfields and Slaughter and May provided the same increases to its future rookies. Magic circle outfit Clifford Chance was first to make the 25% uplift last month.
Last December, HSF increased base pay for its newly qualified (NQ) lawyers to £105,000 with a discretionary bonus available to the juniors.
The firm, which takes on around 60 trainees each year, scored an 83% spring trainee retention rate.
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This is only after HSF grad rec initially denied a request from LPCs students…
A friendly reminder that none of these firms increased the LPC grant on their own initiative. The current accelerated LPC cohort have had to send multiple emails asking for an increase.
HSF initially denied our request and are only now putting it up to save face as other accelerated firms have out their amounts up.
HL and NRF your turn next?
US Firm FT
Interesting…thank-you for letting us know.
Need to apply some serious pressure to my future firm to up LPC grant. Such a shame that many of these hugely successful firms have to be dragged, kicking and screaming, into fully and appropriately supporting their future talent.
White & Case? Hogan Lovells? Latham? Skadden?
A&O still sitting at 10k even though their future trainees sent a request two months ago asking for an increase…