Macfarlanes has joined the fray in the latest NQ pay war by increasing its newly qualified salaries to £140,000 from £115,000, the biggest proportionate rise so far.

The near-22% increase just trumps the 20% rise seen at Quinn Emanuel Urquhart & Sullivan, Freshfields Bruckhaus Deringer and Clifford Chance, which recently upped their rates from £125,000 to £150,000, alongside other top law firms.