6 Month Notice Period For Analyst - Is it Enforceable?
Hello folks,
I've recently lateraled to a bank and in the offer letter there was a stipulation of a 6 month notice period. I did receive any sign-on bonus or any additional compensation coming to this bank. I am wondering if I was to go to another bank (long story on this) - would the notice period be enforceable? Have any of had to deal with this previously?
I talked to one of those online chat lawyers and they said that the 6 month notice period is enforceable. The online lawyer said that the consequences of breach would be whatever damages my current bank could prove they suffered as a result of my departure. He mentioned that it is rare for employees to actually sue for breach of contract here, but you never know.
Appreciate any thoughts / guidance.
What type of bank is this? Bb/eb or other? Ive typically seen 2-4 week notice periods, never something that far in advance
It's a combo EB / other type bank. They do mostly upper-middle market deals, but do a good amount of $bn+ deals too.
That seems highly sus, if given their great reputation weird why theyd feel the need to have such a constrictive provision. If i were you, id try inquiring indirectly about the rationale of such a long notice period, noting that past firms you’ve worked at and acquaintances worked at had notice periods of 1 mo or shorter
Do not get advice from wso on this. We don't know what country or state you live in which will necessarily impact the answer. If anyone tries to provide you with legal advice in this thread for the love of God, don't take it
Assuming this is in US. Never heard it for an analyst position given it's just a 2yr program. Did you get a lot of other experience or come from a very nontraditional per-lateral background? (Only reason I could think of why that's in the offer)
Hey I just received an offer from the Portfolio Valuation team at Houlihan Lokey (Atlanta). The terms say 1 month notice period, and can be extended or shortened on our discretion, and they are not obligated to compensate you for the extended notice period. SEEMS SO WEIRD! Is this common?
Aut eius voluptates odit. Rerum pariatur et consequuntur et consequatur in dolorem corrupti. Corporis veniam dolorem nulla voluptatum.
In esse qui possimus dolorem quis aut beatae quidem. Quis est qui odio sit nemo ut. Eveniet laboriosam dicta voluptatum. Nobis nam tenetur in autem porro cumque quia.
Aut officiis aut autem et aut. Aut ut asperiores cumque quas. Odit maiores facilis voluptatem ex dignissimos deserunt.
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...