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New York Could Be the Latest State to Ban Noncompete Agreements
- erehweb 3y ago"The Democratic governor said last week that she would like to see a compensation cap for such a ban, floating $250,000 as a level above which noncompetes would be allowed. ... State Sen. Sean Ryan, the Buffalo Democrat who proposed the legislation, said a salary cap wouldn’t address all his concerns, including that startups are often unable to launch when prospective employees are bound to previous employers. Noncompete agreements 'depress wages, increase prices and are really bad for the entrepreneurial part of the economy, Ryan said."
- Bostonian 3y agoA disadvantage of banning noncompete agreements is that it discourages employers from investing in training workers, since those trained workers can depart for a competitor. For example, the big trading firm Susquehanna International Group has a well-regarded training program that it pairs with a non-compete agreement.
- JumpCrisscross 3y ago> disadvantage of banning noncompete agreements is that it discourages employers from investing in training workers Is there evidence Californian employers invest less in their workers than the rest of the country?