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I've black lined a lot of clauses in employee agreements like the one in the article. When questioned by the company I tell them I cannot agree to such terms at
by emidln 3y ago
I've black lined a lot of clauses in employee agreements like the one in the article. When questioned by the company I tell them I cannot agree to such terms at the salary being offered and generally propose what I consider to be an outlandish number as salary plus paid PTO in exchange for it. Typically, the company just signs. Sometimes they tell me to eff off. Only once has someone paid me what I thought was an absurd rate to not work for their competitor.
My current non-compete is in the finance industry and uses paid salary during garden leave as a way of avoiding non-compete laws. Nobody esp cares whether it is legal since its a year or two paid vacation.
- blitzar 3y ago> My current non-compete is in the finance industry and uses paid salary during garden leave as a way of avoiding non-compete laws More often than not they will quite happily waive the non-compete and the pay - a sensible arrangement for all concerned.
- renewiltord 3y agoYes, this happens often enough but for those who it doesn't, the salary isn't really enough. You'll drop from almost a million to a few hundred k.
- emidln 3y agoWe're told from the start to live within our salary and investment returns. If you make $200k base, usually make about $1m TC and choose to spent all of your cash every year, I don't feel esp bad for you. The operative word from VR is variable. Leaving, not negotiating a sign-on bonus with the new firm, and getting your garden leave enforced isnt much different than a bad year wiping out your VR, except you have to make your own mistakes at every turn to put yourself in that situation.
- renewiltord 3y agoAbsolutely true. Just illustrating it's not a vacation. You're missing out on productive years. Most people I know did a FAANG stint.