Trainees will now earn £37,000, which represents a £1,000 pay increase. Both newly-qualified and one-year post-qualified lawyers see similar rises, earning £65,000 and £71,000 respectively.
Higher up the pay scale, two-year qualified lawyers will now earn £82,000, a 6.5% increase up from £77,000, while associates with three years post-qualification experience will see a 3.5% hike up to £88,000 from £85,000.
Macfarlanes is one of the best-paying law firms outside of the magic circle, sitting in the second tier alongside the likes of Herbert Smith.
Last week the firm reported a 5% hike in turnover for the last financial year to a new high of £110m, although profits at the City firm have remained static.
While the
City rival Travers Smith – whose financial year ends in June – is yet to announce its financial results or its associate salaries.
