4 ms·

You seem to be talking about different things. I read "golden handcuffs" as extending a line of credit to employees to support and _encourage_ living beyond th

by pacemkr 15y ago

You seem to be talking about different things. I read "golden handcuffs" as extending a line of credit to employees to support and _encourage_ living beyond their actual means. This is very very different from being pampered and spoiled as you describe.

gaius 15y ago
A line of credit? Never heard of that. Golden handcuffs are generally in the form of deferred bonuses, vesting periods, etc.
- DavidAdams 15y ago
  This is much more common in finance and legal firms, where much of the upside accrues to partners in the firm, and the junior people work long hours for much more modest compensation. But they're loaned money in order to get a jump start on the lifestyle that their more senior colleagues enjoy, putting them in hock to the firm. If they were to leave to join a startup, for example, they'd have to pay it back in a lump sum.
- pacemkr 15y ago
  From the article under number 4: "They encourage up-and-comers to spend extravagantly; they extend lines of credit to their rising stars. You need a big house with a jumbo mortgage; you cannot pull up to a business meeting in anything less than the best luxury car. It is part of their corporate culture."
ahoyhere 15y ago
No, "golden handcuffs" are anything that seem like a good thing at the time but that prevent you from leaving. "Golden handcuffs are a system of financial incentives designed to keep an employee from leaving the company. These can include employee stock options that will not vest for several years but are more often contractual obligations to give back lucrative bonuses or other compensation if the employee leaves for another company." -- Wikipedia I would like to hear arguments about how a doubled salary, thanks to profit-sharing, does not count as a "system of financial incentives designed to keep an employee from leaving the company." It is merely the carrot and not the stick. (Does nobody Google any more?)

by pacemkr 15y ago

gaius 15y ago

A line of credit? Never heard of that. Golden handcuffs are generally in the form of deferred bonuses, vesting periods, etc.

DavidAdams 15y ago
This is much more common in finance and legal firms, where much of the upside accrues to partners in the firm, and the junior people work long hours for much more modest compensation. But they're loaned money in order to get a jump start on the lifestyle that their more senior colleagues enjoy, putting them in hock to the firm. If they were to leave to join a startup, for example, they'd have to pay it back in a lump sum.
pacemkr 15y ago
From the article under number 4: "They encourage up-and-comers to spend extravagantly; they extend lines of credit to their rising stars. You need a big house with a jumbo mortgage; you cannot pull up to a business meeting in anything less than the best luxury car. It is part of their corporate culture."

ahoyhere 15y ago

No, "golden handcuffs" are anything that seem like a good thing at the time but that prevent you from leaving. "Golden handcuffs are a system of financial incentives designed to keep an employee from leaving the company. These can include employee stock options that will not vest for several years but are more often contractual obligations to give back lucrative bonuses or other compensation if the employee leaves for another company." -- Wikipedia I would like to hear arguments about how a doubled salary, thanks to profit-sharing, does not count as a "system of financial incentives designed to keep an employee from leaving the company." It is merely the carrot and not the stick. (Does nobody Google any more?)