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New York Gov. Kathy Hochul to Reject Ban on Noncompete Agreements
- gnicholas 3y agoTLDR: > The governor said in November that she believed the agreements should be banned for lower-wage workers but that higher-paid employees could negotiate for themselves. She floated a compromise in which people with income over $250,000 could still enter into such an agreement. Negotiators for Hochul and state lawmakers were exchanging drafts of amendments up until Friday, according to people familiar with the matter. The final sticking points included the compensation threshold, and whether that number should include base wages or total compensation, including things like stock options and bonuses, the people said.
- _8j50 3y agoDoesn't seem unreasonable, but even then, a life time non-compete should be banned and for the duration of the non-compete the original company should compensate the difference workers if at their new job they are making less than their old job that made them sign the NC.
- photonbeam 3y agoThis limit needs to be waay higher People making $250k don't get to negotiate a custom contract, just a few variables in a template.
- tayo42 3y agoI've noticed people have no concept of what real wealth is. 250k is a mid tier software developer that doesn't even work that hard.
- zeta0134 3y agoIs it? That suggests that I'm being rather severely underpaid. But I doubt this, in the US at least the average seems to be much closer to half of this figure when researching positions.
- tayo42 3y agoFor a mid tier developer at a public company. yeah it is. Until your like senior staff +, your still just another replaceable ic stuck listening to hr rules. Your not making demands or negotiating your employment contract. The idea of having the cut off so low is detached from the realities of hiring at large companies and how much actual leaders in these companies are making.
- Root_Denied 3y agoThe median for NYC is a lot higher than for the US as a whole. The highest paid geographic tiers for jobs tend to list NYC and SF Bay first, even above NY/CA state. For NYC that 250k number is absolutely mid-level for tech and finance.
- zeta0134 3y agoAh, I'm out remote in Tennessee, that might explain the discrepancy. Man, is the cost of living in NYC that crazy? I knew the bay area was up there
- reducesuffering 3y agoManhattan is probably more expensive than SF. I frequently hear of $4k-$5k/mth small 1 bedrooms, where in SF it’s possible to get those for $3k. That’s the comparison to make for your office likely being 10 minutes away.
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- uxp100 3y agoFor higher wage noncompetes I thought they were often compensated, which is another way of drawing a line for what is legal and what isn’t. In finance, where a lot of your income is in bonus, you would maybe collect your full salary for the length of the non compete but no chance at bonus. “Gardening Leave.” Never heard of such a thing in tech, but I am assuming Wall Street, where non competes make more sense anyway, was a large influence on her.
- wombat-man 3y agoI don’t think they are in tech? They are one of the many boilerplate forms you sign iirc. Gardening leave sounds fun to me!
- lowbloodsugar 3y agoPlease, can we not with the rationalizations either way. This was bought and paid for, end of story. All the "negotiation" was just the necessary theater.
- DueDilligence 3y ago.. I look forward to a future visit when corporations have been relegated to the wrong side of history "that embarrassing cancerous thing we let happen long ago."
- klipklop 3y agoThe elite (for lack of a better phrase) run NY, not very surprising to see this. It’s sad that non-competes still stand in most states. A one-sided deal that hurts the average employee.