Allen & Overy has confirmed it will increase the maintenance grant it awards for future trainees taking the legal practice course (LPC) – the last of the magic circle firms to do so.
The firm said its grant will be increased by 43%, from £7,000 to £10,000. It will be backdated to the January 2018 LPC class.
Claire Wright, graduate recruitment partner at A&O, said the increase is in ‘recognition of the fact that living costs have increased and as part of our overall commitment to social mobility’.
She added: ‘We have a responsibility to ensure our profession is attractive and accessible to talented people who have the potential to succeed. We don’t want financial considerations to be a barrier to entry.’
Last week Slaughter and May and Linklaters signified their intention to increase the grant from £7,000 to £10,000. Earlier this year, Clifford Chance and Freshfields Bruckhaus Deringer also boosted the grants by the same amount.
All five magic circle firms cover LPC course fees.