Question on Non-Compete
First job out of undergrad, so I was wondering how this is structured / what understanding is in the industry. Say my non-compete is 1 yr. Obviously I cant work at competitors for a yr, but how wide is this definition?
Also, am I allowed to recruit for my next job during this time, or do I have to wait a yr to even talk to other firms?
Generally non-competes are only enforced if you are leaving voluntarily, meaning the general path is "you get offer from competing firm who is willing to wait out your full noncompete before you start". If you are in the unfortunate situation where you no longer have a seat but there is some enforcement of a noncompete you are generally ok to recruit during that period but you cannot start your new job until the noncompete expires.
So typically it isn't strictly a violation of contract to recruit while still working at my current firm?
It's not a violation at all to recruit nor to sign an offer. The violation happens if you start working at new place before you are supposed to.
How often is the non-compete enforced if say an analyst of ~1-2 YOE decides to voluntarily leave/quit? E.g leaving a bad situation, but having no job offer lined up
On departure you will be instructed to notify them if you are going to begin employment elsewhere during the non-compete period.
Your new employer will also ask for proof that you have been released.
The "I quit and I don't know where I'm going to, then sign and try to start at a competitor a month later" trick is too obvious to fly.
yeh i always wondered what’s to stop a situation like this to occur eg.
u have 1.5 y NC. u quit and tell current firm ur going to a company A (say in a diff industry eg. tech) so ur firm waives/ massively shortens NC cuz why would they pay u if ur ‘leaving’ the industry. After a few months of working at company A u leave and join company B which is deffo a competitor to ur initial firm but by now uve had ur NC shortened/waived and are free to go
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