Increase on both firms’ pre-merger offerings
Magic Circle mega-firm A&O Shearman is offering £20,000 in financial support to future trainees as they undertake the Solicitors Qualifying Examination (SQE).
This equates to an increase of £3,000 compared to the £17,000 previously provided to trainees by both firms before the merger, which completed on 1 May.
The Legal Cheek Firms Most List 2024 shows maintenance grants at leading City law firms typically sit between £20,000 and £12,000, although some firms offer much less.
Trainees at the firm complete their SQE studies with BPP University Law School.
Before the merger, A&O recruited approximately 80 trainees annually, whereas Shearman took on around 12 in London. It remains unclear what the new intake will be now the firms have combined.
What we can tell you, however, is their pay; Legal Cheek revealed last month that trainees earn £50,000 in year one, rising to £55,000 in year two, while newly qualified associates start on £125,000. These rates are in line with those previously offered at A&O, but slightly down on Shearman’s before the merger.