4 ms·

The way I’ve seen it work in finance is that you are basically given one year’s salary and benefits up front in exchange for not working anywhere for one year.

• jsonne 5y ago
  That seems actually pretty reasonable tbh. I'm not a fan of non competes generally but that seems like a fair tradeoff
  • whack 5y ago
    If you're having the non-compete enforced against you by a Hedge Fund, there's a good chance that 65% of your total compensation is in the form of bonuses. So getting "just your salary" would amount to a 65% pay cut. On the flip side, you're still getting paid 6 figures to relax, recharge, travel the world and have fun. I would personally love it. But my ex-colleagues feel very differently
• lsaferite 5y ago
  While that's at least "fair" in an immediate monetary sense, it's still a bad deal at the end of the day. You've now been out of your industry for a year when you go back and your value has dropped as a result.
  • uxp100 5y ago
    Not really. As far as I know (just from reading Matt Levine) everyone knows about these policies, everyone has gaps like this due to gardening leave, and so it's completely expected and does not "drop your value"