What we are offering
We offer up to 2 twelve month pupillages commencing in October each year.
Pupillage award
For pupillages commencing in October 2011, we are offering £40,000.
The pupillage award comprises an award and guaranteed earnings. The split between the two components varies from year to year. For pupillages commencing in October 2011, the split is likely to be £32,000 award and £8000 guaranteed earnings.
The award is payable monthly during the first six months of pupillage. Guaranteed earnings are paid monthly during the second six months of pupillage.
The guaranteed earnings scheme makes sure that you receive a baseline sum every month in your second six, even if you have not been paid for your work in that month. At the moment the guaranteed earnings level is £8,000 in your second six, which works out as just over £1,300 per month. The scheme operates as a “top-up” so if your receipts are less than the guaranteed earnings level in a month then Chambers will top you up to that level. We usually expect our pupils to exceed the guaranteed earnings level in their second six but we keep the system in place because we understand that cash-flow is a serious issue for pupils and junior practitioners.
We pay for pupils to undertake the forensic accountancy course and the Inns advocacy training courses.
Draw-down
Pupils have the opportunity to draw down part of their pupillage award in the year before pupillage if they wish, in order to assist during the BPTC or with other educational or voluntary activities. Pupils commencing in October 2011 will be able to draw down up to £8000.
Junior tenants’ guaranteed income loan scheme
We have a guaranteed income loan scheme for first and second year tenants. The levels are set at £40,000 for first year tenants and £50,000 for second year tenants, payable monthly. The levels are reviewable.
Our junior tenants are able to plan and budget, safe in the knowledge that they have a guaranteed monthly income. The scheme operates as a safety net, in case receipts fall below the guaranteed amount in any given month, which can sometimes happen in the early days of practice. Once receipts exceed the guaranteed income level, junior tenants pay back any top-up that chambers has provided (no interest is payable).