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> The system works well both for employees and companies. Taking a ~50% pay cut for potentially a year or longer doesn't seem like it works out too well for em
by nickjj 3y ago
> The system works well both for employees and companies.
Taking a ~50% pay cut for potentially a year or longer doesn't seem like it works out too well for employees.
If a finance job pays let's say 250k that means you're missing out on maybe 125k. Over 30 years at 5% that's $540,000 on that 125k. If your non-compete is for 2 years that's a loss of over a million dollars. If you can happily live on 50k a year that 2 year non-compete just cost you 20 years of financial freedom.
- kasey_junk 3y agoIn my experience finance bonuses are much less guaranteed than in tech. You don’t calculate your bonus as part of your compensation until it happens, because it’s so performance based that “no bonus” has a reasonable chance of happening. So garden leave amounts to a bad performance year without having to work, which is a pretty reasonable trade off. At least it always was for me.