The £10,000 offering marks a 43% increase, with the firm previously granting £7,000.
The increase is a welcomed change by many students who find funding living costs whilst studying a significant burden.
Crispin Rapinet, Hogan Lovells’ newly-appointed training principal, said: “Ensuring all our people have access to high quality training, support and the opportunity to progress throughout their career is an absolute priority, at every level. With 29% of our 2016/17 hires coming from social mobility backgrounds, we recognise that finances are an increasing consideration and often a barrier to pursuing a career in law.”
He added: “In offering an enhanced level of financial support we hope to address these concerns for future potential candidates and allow our current cohort to focus on achieving their very best in their studies.”
The increase applies to students who started the LPC in February 2018 as well as future joiners. In order to receive the grant, incoming trainees to Hogan Lovells will have to complete their LPC at BPP Law School and do so in seven-and-half-months instead of the customary 12.
Hogan Lovells follows similarly positioned law firms including Allen & Overy, Clifford Chance, Freshfields Bruckhaus Deringer, Herbert Smith Freehills, Linklaters, and Slaughter and May who also upped their LPC maintenance grants to £10,000 this year. It is worth noting however, that these are not the first firms to offer this, with Dechert LLP offering trainees a five figure LPC grant for over 6 years.