Garden Leave
For equity research associates (1st/2nd year), is it common to have a garden leave period in addition to the notice period? How would the policy differ if you are moving to a HF / Long-Only / another bank's ER division?
From my understanding you only truly get the notice period. But if you are moving to a competing sellside ER firm, you will likely be asked to leave immediately. In that case, the “gardening leave” would span the period from your resignation to the end of the notice period. If you are moving to buyside, you may be allowed to work till the end of your notice period, in which case you would have no gardening leave.
Garden leave is usually for seniors
Never seen anyone at that level with contractual restrictions on the sell side. Not even sure MDs have them but have seen them stick around for a long time to ensure a smooth transition (unsure if that was contractual or just doing the firm a solid).
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