3 ms·
> legislation like the one proposed in NYC would have needlessly broken a system that works pretty well. Makes sense. I assume there is a pool all the finance
by mike_d 3y ago
> legislation like the one proposed in NYC would have needlessly broken a system that works pretty well.
Makes sense. I assume there is a pool all the finance people pay into every month that covers all the people who don't work in finance and are subject to non-competes?
- JustLurking2022 3y agoNo, it's up to the individual company to continue paying those employees.
- foota 3y agoParent is saying that noncompetes affect more than finance companies, and other companies may not pay for them in the same way.
- deleted 3y ago[deleted]
- JackFr 3y agoMy (possibly incomplete) understanding of ‘gardening leave’ in finance is that it’s based on the idea of specific knowledge of trading positions or specific deal term sheets. It’s not that you can’t compete against us in general or use general techniques, but for 30/60/90 days you have specific knowledge of ongoing operations you can’t use. The hiring firm pays for, but cannot use, the hired person.
- deleted 3y ago[deleted]