Non-compete for hedgefund
So friends,
Let's say I made a dumb decision and join a "(in)famous" hedge fund with 2 year non-compete written in my contract. Of course, at the time, the hiring manager told me that the length of the non-compete thing is a function of how much I know. And now 6 months later, I regret my decision... I am still on training (yup - despite all the experience I accumulated over the years). I have no experience with this kind of non-compete in my previous job? Do you guys have any experience to share on how you/hfs deal with it?
Hey ntgn81, the following topics might be helpful:
I hope those threads give you a bit more insight.
Just take a 2 year vacation. You'll still get paid your salary during your non-compete period.
Delete
Do you know it's by law that company has to pay during non-compete period?
it should be in your contract...read it.
If this is BW, have seen them enforce it. They are not joking. Best route is to go party for two years on a very generous salary.
This is my dream
It's not mentioned in the contract, unfortunately....
are you saying that you want to leave this firm now? or are you wondering about leaving some years down the road, and this is just a curiosity?
I want to leave asap but I need to plan things ahead...
Two years seems excessive. I've heard > 1 year is hard to enforce in NY state court. Having said that, pay for legal advice. A couple thousand in fees is cheap compared to doing it wrong.
Do most people who sign a two year non-compete quit without having anything lined up, and then interview a year or more into their non-compete? Or are there jobs willing to wait two years for someone to show up?
I have interviewed people on 2 year NCs. If they are frustrated, they just quit their job , do something else (startup, mba, tech etc) and then 6 month to 1 year into their NCs expiring start hunting with hedge funds again.
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