Herbert Smith, Norton Rose hike LPC grants

Herbert Smith and Norton Rose have become the latest firms to hike their LPC maintenance grants.

Both firms, which are part of the five-strong City LPC consortium, are increasing their maintenance grants to £7,000.

The decisions take effect from September 2006 to bring the firms into line with amount paid by Linklaters, Clifford Chance and Slaughter and May, the third member of the City LPC consortium.

Meanwhile, Freshfields Bruckhaus Deringer and Lovells, the remaining members of the City LPC consortium, have not yet announced changes to their trainee grants. However, a Freshfields source told The Lawyer that it is planning to increase its funding.

The race to hike maintenance grants was triggered by Linklaters’ announcement on 1 September that it was raising its trainee grants by 40 per cent.