Michigan Firms - Any news on salary increases? Forum

[Anonymous User]

I've seen language on some of these firms' sites regarding salaries for lateral candidates being set on a case by case basis.

Does anyone have a sense of how this impacts the numbers above - if someone laterals from a 180k market, do these firms actually make offers for half of the person's current salary? Or do they stretch compensation upward somewhat (without matching NY/LA salary obviously) to attract laterals?

eta: considering a MI lateral, but going from 180k market to 100-110 market would be difficult. What the poster above said regarding student loan debt reducing the effectiveness of a cost of living reduction is dead on - my second biggest monthly expense after housing is student loan debt, and it is a fixed cost. It makes 100k look pretty meager no matter how low the COL is.

[Anonymous User]

Although there smaller offices, with Foley & Jones Day at 160k, I don't see how some of the other firms with $$$ can basically stand on the sidelines.

Dykema - PPP 510K - Leverage 1:3
Miller Canfield - PPP 490K - Leverage 1:2
Dickinson Wright - PPP 520K - Leverage 1:2
Honigman - PPP 840K - Leverage 1:1
Clark Hill - PPP 510K - Leverage unclear between 1:1 and 1:1.5

A raise would be hardest on Dykema because of a 1:3 leverage of Equity Partners : all others.

By far easiest for Clark Hill and Honigman.

Hopefully Michigan associates get what they deserve... at the very least the firms should contingent higher salaries with meeting billable requirements. If an associate is pulling their weight, they should be compensated.

[Anonymous User]

Although there smaller offices, with Foley & Jones Day at 160k, I don't see how some of the other firms with $$$ can basically stand on the sidelines.

Dykema - PPP 510K - Leverage 1:3
Miller Canfield - PPP 490K - Leverage 1:2
Dickinson Wright - PPP 520K - Leverage 1:2
Honigman - PPP 840K - Leverage 1:1
Clark Hill - PPP 510K - Leverage unclear between 1:1 and 1:1.5

A raise would be hardest on Dykema because of a 1:3 leverage of Equity Partners : all others.

By far easiest for Clark Hill and Honigman.

Hopefully Michigan associates get what they deserve... at the very least the firms should contingent higher salaries with meeting billable requirements. If an associate is pulling their weight, they should be compensated.

Agreed. Although I think Honigman just did a small raise not long ago. Dickinson is doing a slight bump soon. I doubt Clark hill can, tumors are they're having issues short term, but should be okay in the long run.

[Anonymous User]

Any update here?

[Anonymous User]

Bump. Really curious about this.

[Anonymous User]

[deleted]

[Anonymous User]

Does anyone have any salary info for Michigan firms beyond starting? Esp. interested in how accurate the salary bands on Honigman's website are.

[Johann]

I've seen language on some of these firms' sites regarding salaries for lateral candidates being set on a case by case basis.

Does anyone have a sense of how this impacts the numbers above - if someone laterals from a 180k market, do these firms actually make offers for half of the person's current salary? Or do they stretch compensation upward somewhat (without matching NY/LA salary obviously) to attract laterals?

eta: considering a MI lateral, but going from 180k market to 100-110 market would be difficult. What the poster above said regarding student loan debt reducing the effectiveness of a cost of living reduction is dead on - my second biggest monthly expense after housing is student loan debt, and it is a fixed cost. It makes 100k look pretty meager no matter how low the COL is.

get on PAYE and its better to be in a lower COL and lower paying market than higher COL market.

[Anonymous User]

anyone know the PPP and leverage for Varnum/Warner? Also whats partner compensation actually like at Michigan firms?

[Anonymous User]

I'm also interested about the salary--associate/partner--for the GR firms like Warner. Does anyone have any information about their bonuses or salary progression.
Thanks!