Macfarlanes and Travers Smith have boosted their associate pay rates, with base salaries for newly qualified (NQ) lawyers at both firms rising to £75,000.

Macfarlanes does not operate a strict associate lockstep, with pay divided into bands covering the potential spectrum of what lawyers can earn, but base pay for NQs has been hiked by almost 6% from £71,000 to £75,000.