Hi everyone (
@Jessica Booker) (
@AvniD) - I have benefitted from many helpful posts here but posting myself for the first time and would appreciate any insight/advice on the following.
I'm currently doing the LPC and am sponsored by a City law firm with whom I have a London TC starting March '24. Doing the LPC has informed me that I want to do Restructuring and Private Equity but my firm does not specialise in these areas. A US firm that does specialise in these areas is recruiting for the same intake as me (direct TC) and I was wondering what the repercussions could be if I were to apply to this firm. I appreciate that I would have to pay back GDL/LPC fees including any grants to my current firm but I could do that from the retrospective pay I receive from the new firm if I was to be successful. Do you think I can be honest with the new firm and explain my situation / is there a right way of navigating this?
Thanks in advance guys. I appreciate that having a TC is a privileged position but this has been bothering me for a while now so would really appreciate any input. Have a great day/evening!
It is exceptionally rare for people to do this. Most people who renege on an offer do so before they receive any financial support from their firm. I know a very small number of people who have reneged whilst in the middle of a sponsored GDL/LPC/SQE course and it is exceptionally messy.
Be mindful that most firms do not pay your maintenance fee retrospectively, only your course fees. Therefore, even if this is something you choose to do, you could easily find the "new" firm isn't covering the full amount you have to pay back to your current firm. It also assumes that the firms are paying the same amount for the course - this can differ massively. Some firms are paying 25-40% more for their GDL/LPC/SQE providers than other firms. If your current firm has paid £15k for the LPC, and your new firm only pays £12k, you are likely to be £3k short when repaying your current firm back. What makes it even more complicated is that you haven't paid for the course, your current firm has. And therefore proving what your GDL/LPC/SQE course cost can be very difficult without you showing you owe your previous firm money.
I'll be frank - there is no right way of navigating this. When people have done it (that I have known about anyway), they have kept it all pretty quiet and hoped it would never come out in the recruitment process. How they then dealt with it with the firm at the point of offer and getting reimbursements, I don't know.
Most firms won't want to go near a candidate who is a future trainee at another firm (many see this as a moral/ethical issue). So be mindful that if your LinkedIn profile states you are a future trainee, they will probably just turn you down if they view your LinkedIn profile during the recruitment process.
It is not to say people haven't managed to do this - I know a very small number (could count on less than one hand) who have done. How they have managed the specifics, I don't know, but all I can say is that it is complicated and should be considered very carefully.