Salary & Benefits
When an associate joins Honigman, we anticipate a long-term relationship. Compensation for associates joining our firm each fall includes a salary at the annual rate of $125,000 plus a starting bonus of $5,000. Starting bonuses are paid immediately after graduation. Following the first full calendar year of employment, each associate will be eligible for a performance-based bonus. Our attorneys generally receive compensation that exceeds compensation of most of their colleagues at comparable firms. Compensation is based primarily on individual performance in a merit system, rather than on seniority. Actual compensation ranges in 2015 (including salary, regular bonuses and credit for generation of new legal business) were:
First full calendar year: $110,000 - $150,000
Second full calendar year: $120,000 - $180,000
Third full calendar year: $150,000 - $200,000
Fourth full calendar year: $150,000 - $240,000
Honigman provides compensation figures only for associates in their first through fourth full years because most of our associates are elected to partnership at the end of their fourth full year with the firm.
We offer many benefits, including paid parking (if applicable), comprehensive medical coverage and dental care programs, 12 weeks paid maternity leave after 12 months with the firm (six weeks paid maternity leave during the first 12 months with the firm) or four weeks of paid paternity leave after 12 months with the firm, life and disability insurance, vacation and a 401(k) plan. We also pay reasonable moving expenses for attorneys joining the firm from out-of-state. The firm also pays the fees for the bar examination and bar review courses for each new associate joining us directly from law school.
Each associate has a private, well-appointed office and appropriate administrative assistance. All attorneys are eligible for reimbursement of up to $300 every two years toward the purchase of a mobile device.
Honigman makes available to new associates a unique home loan program to ensure they can afford the cost of buying a home. This interest-free home loan program underscores the unique professional and personal relationships that exist within the firm, and the firm's commitment to long-term relationships with its associates. An eligible associate (generally, one who has successfully completed formal performance reviews covering at least 12 months with the firm) may borrow from the firm, on an interest-free basis, the necessary down payment (up to $50,000) for the purchase or improvement of a home. Repayment of the loan begins in installments over a period of years only after the associate has become a non-percentage partner in the firm. The program is well received by our associates and new interest-free loans are made each year.