Ashurst has handed pay increases to all of its associates and trainees, following in the footsteps of magic circle firms Linklaters and Slaughter and May.

The firm, which provides average salaries for the different associate and trainee groups, has given the largest rise, 8%, to associates with three years' experience.

First-year trainee pay has increased by 2.6% to £40,000, while second-year trainees have been given an extra 2.3%, raising their total salary to £45,000.

Newly qualified (NQ) associates have seen a 3.1% hike in their pay, to £65,000 from £63,000 last year.

Associates with one-year's experience have seen their salary increase by 4.3% to £72,000, up from £69,000 last year.

Lawyers with two-years' post-qualifying experience (PQE) have been given an extra £4,000, taking their salary to £81,000.

Last year the firm froze rates for lawyers with one to three-years' PQE, while raising its pay for NQ lawyers by £2,000.

This year Shearman & Sterling has frozen the pay bands for most of its associates but increased the rate for NQ lawyers by 6% and boosted trainee salaries by up to 15.4%.

Earlier this month Slaughters announced pay rises of more than 7%, taking NQ salaries to £70,000 compared with £68,000 offered at magic circle rival Linklaters following its own pay increases.

Meanwhile, Hogan Lovells has boosted its trainee and NQ rates, with first-year trainees now set to take home £41,000, up by 4% from its previous first-year rate of £39,500. Pay for second-year trainees has also increased by 2% to £46,000, up from £45,000.

Ashurst 2015 junior pay bands (2014 in brackets)

1st-year trainee: 40 (39)

2nd-year trainee: 45 (44)

NQ: 65 (63)

One-year PQE: 72 (69)

Two-year PQE: 81 (77)

Three-year PQE: 92 (85)