Dechert ramps up trainee salaries

•US firm Dechert has hiked its first-year trainee salaries from £32,000 to £36,000 and second year pay from £37,000 to £41,000. The firm had initially planned on increasing its first-year salaries to £35,000, but increased them further in a bid to keep up with rival firms. The new salaries will come into effect in October this year. The firm had shocked the market by increasing its LPC maintenance grants by 42.9 per cent in May. It currently pays its LPC students the market average of £7,000, but this amount will be boosted to £10,000 for students starting the LPC in September 2008.