Also confirms 84% retention score
City law firm Macfarlanes has increased the salaries of its newly qualified (NQ) lawyers by 22%, raising them from £115,000 to £140,000.
The outfit has also upped trainee pay from £50,000 to £56,000 in year one and £55,000 to £61,000 in year two.
The Legal Cheek Firms Most List shows that the NQ rise brings Macs in line with US firm Orrick and £5,000 ahead of Hogan Lovells, which increased its rates from £120,000 to £135,000 earlier this month.
Separately, Macfarlanes confirmed a retention rate of 84%, with 27 out of 32 final-seat trainees staying on. All of them are joining on permanent contracts.
Jat Bains, early legal careers partner, said: “We are excited to welcome our September qualifiers across a range of practice areas and congratulations to this talented cohort. We are proud to invest in our trainees so that their careers can thrive at Macfarlanes.”
Catherine Morgan-Guest, early legal careers senior manager, added: “We are committed to providing exceptional training and support to further the careers of the diverse group of talent we recruit. They are intrinsic to what we do and the future of our firm.”