Market rate, but feels low because it is expensive living in Auckland and I find it difficult to save on this salary. Knowledge of what other people my age in different professions are getting paid does make it feel like law grads pay is low, however I understand that this will climb quickly.
Good pay as graduate roles are concerned. I think all professional service graduate roles should be more though.
Could and should be adjusted for inflation to assist with the rising cost of living. I do not know how bonuses operate.