7% rise from £107.5k
City law firm Macfarlanes has increased salaries for its newly qualified (NQ) associates in London.
Junior lawyer pay now sits at £115,000, plus individual and firmwide bonuses. This marks a 7% uplift from £107,500.
The Legal Cheek Firms Most List shows Macs now offers the same NQ base rate as Slaughter and May, which we reported yesterday had opted to keep NQ salaries as they are (for now) following a recent review. This move came despite the firm now being the only member of the Magic Circle not to offer newbie associates a salary of £125,000.
Macfarlanes recruits around 33 trainees each year on a starting salary of £50,000, rising to £55,000 in year two.
Earlier this year it recorded a perfect 100% spring retention score with all six trainees staying put on permanent deals.