Magic Circle partner salaries surpass average UK salaries before January underway
updated on 23 January 2026
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Both law firm partners and the top CEOs listed on the Financial Times Stock Exchange (FTSE) exceeded the average annual salary of a full‑time UK worker just days into the new year, according to new analysis from the High Pay Centre.
Magic Circle law firm partners were expected to surpass the average worker’s annual salary by 8 January, while FTSE 100 CEOs were forecasted to overtake by 6 January. Partners at the ‘Big Four’ accountancy firms are projected to reach the same point, exceeding the full-time worker’s average salary of £39,039, by 20 January. While material risk takers at FTSE 100 banks, those whose roles significantly influence a bank’s risk profile, are set to exceed average earnings by 16 January.
The median FTSE 100 CEO pay is now standing at £4.4 million (excluding pension), 113 times the average full‑time worker’s salary and an increase from last year’s figures. The High Pay Centre’s calculations assume that CEOs work 62.5 hours a week. This means that the average FTSE 100 CEO, earning £4.398 million, is effectively paid £1,353.23 an hour – excluding weekends and bank holidays.
The High Pay Centre’s data also highlighted the broader scale of income inequality. Individuals in the top 1% of UK earners will surpass the average worker’s annual salary by 19 March.
