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"Garden Leave" is a paid non-compete time (often a year) used in the financial industry when someone switched jobs. The prior employer invokes it at their opti
by lallysingh 9y ago
"Garden Leave" is a paid non-compete time (often a year) used in the financial industry when someone switched jobs. The prior employer invokes it at their option.
- deleted 9y ago[deleted]
- dx034 9y agoThat's not always correct. It can be shorter (3 months are common in London) and is often a fixed part of your contract (notice period). If both agree you can shorten it but it's not just invoked at the discretion of your employer.
- golergka 9y agoI wasn't aware that "paid non-compete" is a thing, thanks for clarifying it. Next time when I see a non-compete in a contract (which is usual for developers), instead of negotiating it out, I'll try to negotiate something like this. What do these agreements usually look like?
- deleted 9y ago[deleted]
- lallysingh 9y agoThe employer has the option to pay you your salary (not bonus, which is a big part of your income!) to not work at all instead of you going to a competitor. I think that the comp part is necessary to make it enforceable at all.