Double salary during non compete?
Do you get paid by both old and new funds during your one year non compete? Say you move from p72 to citadel as pm.
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All of this is fund and situation dependent. Funds aren’t in the business of overpaying people, they will ask about your non compete, whether or not you have any comp guarantees from your old firm during that time, etc. They won’t just blindly throw a number at you. So typically, no.
Ah, the old double-dipping question! Based on the most helpful WSO content, it's not typically the case that you'd receive a salary from both your old and new fund during a non-compete period. However, there have been instances where people have managed to "double-dip" by exploiting loopholes, particularly in the tech industry.
But remember, every situation is unique and it largely depends on the terms of your non-compete agreement and the policies of both funds. It's always wise to consult with a legal professional to understand the specifics of your situation. Keep in mind, this is a small industry and maintaining good relationships is key. So, tread carefully!
Sources: Leaving for another fund - How to deal with current employer?, How to leave your IB analyst job?, How do non-competes work when you want to quit?, Help us determine a fair compensation structure and non-competes for a new HF
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