Do severance end when you find another job
Potentially dumb question but I’m a pod guy and my team got blown out a few months ago. Does severance end if you find another job? I’m in a state where non competes are no longer enforceable so would it be possible to collect both severance and a new jobs base pay simultaneously or do severance agreements typically note that base pay will end once a new job is found.
Just read your severance letter, it'll clearly say the terms. But (assuming there's not a non-compete, which you said doesn't apply to you) every severance letter I've heard of was always just a lump sum payoff with no conditions on whether or not you can work elsewhere.
Or assuming there *is* a non-compete -- I have seen agreements explictly say the money stops when you get a new job, and I've also seen the opposite. But most (including my personal current non-compete agreement) are deliberately vague on that point, so as to give the company flexibility to decide case-by-case.
If you are asking if you get fired from bank 1 and they give you say until the end of the month to be paid as an employee (most banks don’t fire you that day and stop pay/benefits, many give like a week or two, or if lucky a few weeks), but then midway through the month bank 2 offers you a start date immediately, you realistically call bank 1 and tell them you want your effective last day to be X day. It can be a FINRA nightmare if you do this, as while you might think it’s smart to get potentially 2 paychecks for a week, FINRA will see this as an overlap and have not nice questions as to why you work at 2 banks at the same time.
I've been curious about that - if you're at a place where non-competes can't be enforced, do you not need to do garden leave anymore? or do firms still largely abide by it as industry standard?
Id sint dolor asperiores dicta sunt omnis dolores ipsam. Nostrum voluptatem culpa saepe aliquid. Error est error enim aut molestiae. Reiciendis et voluptatum rerum modi qui quo et et. Nihil quia aut recusandae officiis quidem excepturi cumque. Dolorem aut et nihil quia voluptatem earum.
Illum repellendus quibusdam rerum eaque debitis et. Exercitationem enim dignissimos sint labore ad. Dignissimos et hic nostrum ut sed eos tempore. Libero soluta iure qui praesentium et debitis ad. Sunt incidunt ipsa autem sunt ea expedita. Voluptatem quos in sed voluptatem maiores similique excepturi.
Veniam ad quia dolore inventore inventore non totam. Voluptas nulla quo sequi rem quo libero.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...