New York: Compensation & Benefits
The benefits described above are subject to change by the Firm.
- Annual Compensation for the first year associate class is $160,000.
- Salary advance for incoming associates of up to $10,000 available within four months prior to joining the Firm.
- Judicial clerkship bonus available upon joining the Firm to those who have completed one or more judicial clerkships.
- 401(k) Plan: Associates may participate through voluntary salary deductions up to the $16,500 pre-tax limit imposed by law. Initial enrollment is made available on January 1 and July 1.
- Vacation: Four weeks (20 work days) per year, 25 work days per year after four years of employment at the Firm.
- Moving Expenses: Actual moving expenses coordinated through a Firm’s authorized mover paid for by the Firm, including up to three months of storage, plus transportation for associate and immediate family members. Tips for movers may not exceed $200.00. Move must occur within three months of joining the firm.
- Broker’s fee for rental (within three months of joining the Firm) of initial primary New York area residence reimbursed by the Firm up to $3,500.
- Health club annual membership in one of the health clubs of which the Firm is a corporate member or reimbursement of up to $850 of annual membership fees at another health club an associate chooses to join.
- Bar Review Tuition: Reimbursed by the Firm.
- NY State Bar and Multi-State Examinations: Examination fees as well as travel and hotel accommodations to New York City or Albany are reimbursed by the Firm.
- Bar Association Dues: One annual membership reimbursed by the Firm.
- Law School Matching Gift Program: Up to $500 annually paid by the Firm.
- Parental Leave Policy: Up to 18 weeks paid leave for primary caregivers and five weeks paid leave for secondary caregivers following the birth, adoption, or foster care placement of the child.
- New Mother’s Room: The Firm provides a new mother’s room which is a private, comfortable and convenient place for women desiring to continue breast-feeding upon returning to work from maternity leave.
- Flexible/Reduced Schedule – Family Reasons: Lawyers may request a reduced work schedule for family reasons. Requests are handled on a case-by-case basis.
- Flexible/Reduced Schedule – General: Associates who have been at the Firm for at least two years may apply to work on a part-time schedule in one of many forms (including one day off weekly, breaks at ends of deals, certain months off yearly, etc.), or to maintain a full-time schedule, but telecommute with greater frequency than is described below. Requests are reviewed on a case-by-case basis.
- Telecommuting: Associates who have been at the Firm for less than one year may choose to work from home up to one weekday per month. Associates who have been with the Firm longer may choose to work from home up to two weekdays per month.
- FMLA: Up to 12 weeks of job-protected leave for certain family and medical reasons.
- Emergency Child Service: The Firm participates in a back-up emergency child care service located near the office.
- Elder Care Program: Confidential resource and referral program that provides assistance to employees in dealing with all types of elder care needs.
- Employee Assistance Program: Confidential counseling service that provides professional assistance to employees and their immediate family members.
- Medical Benefit Plan: Pre-tax monthly contribution by associate of $205 for an individual, $410 for an employee plus 1 and $487 for an employee plus 2 or more. Out of pocket maximum for the associate per calendar year for out-of-network expenses: $2,500 per individual (plus $700 deductible), $7,500 family maximum (plus $2,100 deductible). PPO (in-network) requires $25 co-payment by associate. 100% inpatient in-network hospital charges covered by the PPO. Prescription drug program. Benefits extended to same sex domestic partners.
- Dental Benefit Plan: Aetna Freedom of Choice Plan offers DMO and PPO options. DMO - 100% coverage in-network for basic services and preventative services; 60% coverage for major restorations. No deductible. PPO - 80% coverage of preventative; 50% for basic and major services. $75 annual deductible for individual and $225 for family. PPO option allows in and out-of-network coverage not to exceed $2,000 annual maximum after deductible for preventative, basic and major services. Pre-tax monthly contributions range from approximately $28 for individual coverage to $75 for family coverage. Coverage for orthodontia is provided under the DMO only, with benefits payable at 50%. Benefits extended to same sex domestic partners.
- Long Term Care: The firm sponsors a voluntary Group Long Term Care Insurance plan for eligible, actively-at-work employees and their eligible family members. The insurance is underwritten by John Hancock Life Insurance Company. Newly hired employees will have guaranteed acceptance into the plan regardless of current health status so long as they apply within 60 days of hire. Premiums based on age at enrollment and paid through payroll deductions.
- MedjetAssist: Voluntary membership opportunity in MedjetAssist, a worldwide organization providing medical transportation and evacuation to the hospital of choice, and medical consultation services. MedjetAssist services are available on a 24 x 7 basis to members traveling for personal or business reasons anywhere in the world, provided they are more than 150 miles from home at the time services are required.
- Pre-Tax Transportation Program: The plan allows election of pre-tax dollar amounts of up to $120 per month to pay for mass transit expenses and $230 per month for qualified parking expenses.
- Flexible Spending Accounts:
- Medical: expenses not covered by the Medical Benefit Plan, such as dental and eyeglasses, as well as the deductible and co-payment portions of the Medical Benefit Plan, are reimbursed up to $5,000 per year as pre-tax deductions.
- Childcare: expenses for childcare are reimbursed up to $5,000 per year as pre-tax deductions.
- Life Insurance Plan: 1 x Annual Salary provided at no cost to the associate.
- Accidental Death & Dismemberment Plan: 1 x Annual Salary provided at no cost to the associate.
- Short Term Disability Plan: 26 weeks full salary paid.
- Long Term Disability Plan: 60% of salary at the time of the disability, paid after 26 weeks of short term disability due to illness or injury up to duration of the disabling condition or age 65, at no cost to the associate.
- Travel Accident Insurance of $300,000 provided at no cost to the associate.