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FT journalists to get 3% pay rise and £1,000 bonus

Pay increase and bonus result of strong financial performance and editorial contribution.

Journalists at the Financial Times will receive a three per cent pay increase and a performance-related bonus of around £1,000 next year.

An internal memo sent to editorial staff today by managing editor Lisa MacLeod said the pay increase and bonus were the result the strength of the financial performance of the business and the "excellent contribution of the editorial department".

FT Group revealed in July that it more than doubled its adjusted operating profit in first half of this year to £30m with revenue rising nine per cent to £192m as digital subscriptions increased rapidly.

Parent group Pearson then completed the sale of its 61 per cent stake in Interactive Data - part of FT Group - to Silver Law and Warburg Pincus for £1.28bn.

The three per cent increase is above the 2.5 per cent pay rise being offered generally across Pearson and comes after an across-the-board two per cent increase in January last year. All journalists at the FT now earn a basic £40,000 minimum salary.

Oliver Luft is News Editor of Press Gazette. To read more on this story, visit Press Gazette.