As the others have said. The mercenaries will keep the aura all game long and it only depends where you bought him. The best aura for a summoner is considered to be the might aura, because it buffs the damage of your whole squad.
Here are the formulas that calculate the aura level:
Mercenary Type Hlvl 9~30 Hlvl 31~54 Hlvl 55~98
Combat (Normal) 3 + [(hlvl - 9) × 10 / 32] 10 + [(hlvl - 31) × 10 / 32] 18
Defense (Normal)
Offense (Normal)
Combat (Nightmare) 5 + [(hlvl - 31) × 10 / 32] 13
Defense (Nightmare) 6 + [(hlvl - 31) × 10 / 32] 14
Offense (Nightmare)* 7 + [(hlvl - 31) × 8 / 32]
Combat (Hell) 16
Defense (Hell)
Offense (Hell)
Hlvl stands for the level or your mercenary. As you can see: the aura of the Offense Nightmare (Might Aura) is not capped, but has an implicit cap of 23, if the merc reaches level 99.
High level summoners try to get the beast runeword (BerTirUmMalLum) on themselves. Eventhough they never attack with the weapon. It gives them the desired Fanatism aura.
Beast:
Level 9 Fanaticism Aura When Equipped
+40% Increased Attack Speed
+240-270% Enhanced Damage
20% Chance of Crushing Blow
25% Chance of Open Wounds
+3 To Werebear
+3 To Lycanthropy
Prevent Monster Heal
+25-40 To Strength
+10 To Energy
+2 To Mana After Each Kill
Level 13 Summon Grizzly (5 Charges)
In addition to the aura benefit of the a2 merc hes good because he can wear very good weapons for your squad. He can wear the pride runeword (ChamSurIoLo). It gives you a concentrate aura, which also increases the physical damage of all party members. Or Infinity (BerMalBerIst), which gives a convinction aura to increase the damage of your corpse explosion.
Pride:
25% Chance To Cast Level 17 Fire Wall When Struck
Level 16-20 Concentration Aura When Equipped
260-300% Bonus To Attack Rating
+1-99% Damage To Demons (Based on Character Level)
Adds 50-280 Lightning Damage
20% Deadly Strike
Hit Blinds Target
Freezes Target +3
+10 To Vitality
Replenish Life +8
1.875-185.625% Extra Gold From Monsters (Based on Character Level)
Infinity:
50% Chance To Cast Level 20 Chain Lightning When You Kill An Enemy
Level 12 Conviction Aura When Equipped
+35% Faster Run/Walk
+255-325% Enhanced Damage
-(45-55)% To Enemy Lightning Resist
40% Chance of Crushing Blow
Prevent Monster Heal
0.5-49.5 To Vitality (Based on Character Level)
30% Better Chance of Getting Magic Items
Level 21 Cyclone Armor (30 Charges)
The other great option is insight for crazy fast mana regeneration to be able to spam corpse explosion and all your curses:
Insight:
Level 12-17 Meditation Aura When Equipped
+35% Faster Cast Rate
+200-260% Enhanced Damage (varies)
+9 To Minimum Damage
180-250% Bonus to Attack Rating
Adds 5-30 Fire Damage
+75 Poison Damage Over 5 Seconds
+1-6 To Critical Strike
+5 To All Attributes
+2 To Mana After Each Kill
23% Better Chance of Getting Magic Items
Keep in mind that all the above runewords can be used to cast an iron golem, that inherits the stats of the items including the auras. So in theory you could carry a Beast, your merc will carry Infinity, and your Iron Golem was made of Pride. That will give you Might, Fanatism, Concentrate and Conviction.
You have to be careful not to lose the iron golem.