As you might have known that the UK has changed its laws for the qualification of foreign solicitors. Now, a law graduate from India who is offered a training contract by HSF/Links/A&O will have to study for about 20 months followed by 2 years of Training to become an Associates. All in all, it would take about 4 years to become an associate.
While I was applying, I was unaware of this. However, Now I realise that the tuition fee of 20 months of study will be sponsored by the firm and the firm will provide a living stipend of 10k pounds each year for support. I realized that 10k is too little to live in London. Even for the bare minimum necessities, one needs atleast 35k pounds per year. If the firm provides only 10k, that means 25k pounds will have to be borrowed from parents. That would means 50k for 2 years.
Do you think it is worth it to join the Training contract? I guess, around 50 Lakhs INR will be spent before the Traning contract commences. I anyways, will have to take a loan for such kind of money.
I have a query,20 months of study is it while being a trainee in the firm and then take the exams or you will have to study then start the training contract?
Donβt be ridiculous. No student needs Β£35k to live in London. Depending on where you live, the stipend will go a long way to covering your living expenses.
I lived in London for my LLM, you can do just fine for Β£1200-1500 a month depending on where you live. Get a cheap East London apartment which would be just 10 mins away from your workplace in the City of London or Canary Wharf by Tube. The rent should not be more than Β£700 per month in any case.
The TC was never actually worth it, except in very narrow circumstances. You are 3 years behind your Indian peers. The money never compares (PPP basis). Even the growth trajectory is extremely limited, unless you pivot back to India at the right time (mid-SA/early PA). By and large, you are more of a small fish in a big pond at Magic Circle firms. Indian law grads were being hired for different reasons - being better than Tier 2/3 UK grads, diversity goals, and finally 1 in a cohort of 30-40 might be well connected or good at bringing in mandates from India.
Mind you, all this was true around 2015-16 when I joined. With the new rules, the disincentives are skewed even further. Looking back, I would have advised - take the TC, join in the latter cohort (in the meantime get a top LLM - Oxbridge/HYS), do it for 2-3 years (be dual qualified) and come back to SAM/CAM/AZB etc at SA level. Now with the new rules, even that might not be advisable.
Honest advice: Leave India. Whether it's US, UK, Australia, NZ, EU, Canada, Singapore, UAE ... just leave. This country has no future. People elect uneducated and corrupt leaders on the basis of caste, all policies are based on welfare and populism rather than economic rationale, the environment is polluted, your hard-earned taxes are taken by the govt and you get nothing in return. If you cannot get a TC try another route and another country. Give up law if necessary.
Why not just live and study in India or a smaller UK town? Why would you live in London just to study?
10,000 pounds is 10 lakhs a year, which is plenty to live on in most places (and most people donβt get paid that much (or at all!) to study for a qualificationβ¦
As you might have known that the UK has changed its laws for the qualification of foreign solicitors. Now, a law graduate from India who is offered a training contract by HSF/Links/A&O will have to study for about 20 months followed by 2 years of Training to become an Associates. All in all, it would take about 4 years to become an associate.
While I was applying, I was unaware of this. However, Now I realise that the tuition fee of 20 months of study will be sponsored by the firm and the firm will provide a living stipend of 10k pounds each year for support. I realized that 10k is too little to live in London. Even for the bare minimum necessities, one needs atleast 35k pounds per year. If the firm provides only 10k, that means 25k pounds will have to be borrowed from parents. That would means 50k for 2 years.
Do you think it is worth it to join the Training contract? I guess, around 50 Lakhs INR will be spent before the Traning contract commences. I anyways, will have to take a loan for such kind of money.
Comments on previous threads about becoming an associate abroad have me believe otherwise
Mind you, all this was true around 2015-16 when I joined. With the new rules, the disincentives are skewed even further. Looking back, I would have advised - take the TC, join in the latter cohort (in the meantime get a top LLM - Oxbridge/HYS), do it for 2-3 years (be dual qualified) and come back to SAM/CAM/AZB etc at SA level. Now with the new rules, even that might not be advisable.
Could you please share the source of this information? Thanks.
My two cents.
-a resident of the EU frugal four
10,000 pounds is 10 lakhs a year, which is plenty to live on in most places (and most people donβt get paid that much (or at all!) to study for a qualificationβ¦