UK firms bump associate pay
Macfarlanes and Travers Smith have raised their associate pay levels. Macfarlanes set its compensation at £71,000 while Travers pinned its compensation at £71,500.
Lawyers who are newly qualified at each firm will earn more than £1,000 above what previous newly qualified's earned. Travers Smith's pay levels for associates all exceed those at Macfarlanes, which has a range between £85,000 and £95,000. Lawyers in their third year after qualifying at Travers earn £100,000.