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.
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 Tax partner Aaron Fairhurst speaks with us about the early stages of his career, offers a glimpse into the life of a tax lawyer, and ends by sharing some advice for prospective trainees.
Newly-combined CMS has replaced its traditional work placement with a ‘next generation vacation scheme’, which was launched on Monday. The international firm opened its doors to 63 fresh-faced students, all hoping to secure a training contract to commence in 2019.
Travers Smith, Macfarlanes and Jones Day have all boosted their junior lawyers pay in this year's review, in contrast to Herbert Smith Freehills and CMS Cameron McKenna Nabarro Olswang which have held pay for London associates, with some regional pay rises.
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