Macfarlanes and CMS have announced pay rises for their newly-qualified (NQ) solicitors as they reveal how many trainees will be staying on post qualification.
The three way union of CMS, Nabarro and Olswang cost the partnership £28.9m in ‘reorganising, restructuring and integrating’ the merger in the year to April 2018 the combined firm’s first LLP accounts showed last week (24 January).
CMS has added its name to the growing list of firms increasing their partner intake this year, with its cohort up two on last year’s 47.
Big-ticket deals have been fuelling the market in pensions, private equity and fundraising recently with UK top-10 firms and US rivals alike taking the controls on significant mandates.
The rundown of this week's top news stories.
Revenue at CMS Cameron McKenna Nabarro Olswang hit £545.8m in 2018/19, 5% up on the previous year in what managing partner Stephen Millar (pictured) described as ‘pleasing results in a market which is experiencing a degree of uncertainty’.
CMS has raised its newly-qualified (NQ) salary to £73,000 plus bonuses. Qualifiers will have the ability to earn a bonus of up to 20% on top of their salary, based on their performance and ‘contribution to the firm’.
Under the Equality Act 2010, companies with more than 250 employees were required to publish data on their gender pay gap. The first reports became due in April 2018.
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