Macfarlanes, the London-based law firm, has raised the starting salary for its newly qualified lawyers to £150,000, a move that aligns it with the highest-paying rivals in the City. The increase, effective from 1 May, represents a £10,000 rise from the previous £140,000.
Competitive pressure drives pay hikes
The decision comes as law firms across London compete aggressively for junior talent, with many Magic Circle and US firms offering similar or higher salaries. Macfarlanes, known for its corporate and private client work, aims to retain and attract top graduates.
According to a spokesperson for Macfarlanes, the firm regularly reviews compensation to ensure it remains competitive. The new rate applies to all newly qualified solicitors in London.
Industry context
The £150,000 figure places Macfarlanes among the top tier of UK law firms for NQ pay. Magic Circle firms such as Clifford Chance and Freshfields also offer around £150,000, while some US firms in London pay upwards of £180,000.
This increase reflects broader trends in the legal sector, where demand for young lawyers has pushed starting salaries up by more than 50% over the past decade.
