Question here for the mor senior bankers in the room (if any exist).
I’ve received an offer to jump up to Director and effectively start a new coverage area. My coverage area is tangential to their current areas, but there is no direct crossover. I have a couple questions on customary terms of agreements at this level.
- The offer has a 6 month post-termination unpaid non-compete. My previous understand is that a post-termination non-compete should come with your base salary continuing to be paid. Is that understanding correct? Also, I’m under the impression that 3 months is a more typical length for this type of non-compete. Am I in the right ballpark there as well?
The people that I know that have gone places to start new coverage have gotten 1 or 2 year comp guarantees to account for the fact that its probably a 12+ month ramp-up to start generating revenue. Am I within bounds asking for a guarantee?
Happy to have this conversation via DM as well if anyone doesn’t want to post about this publicly. Really appreciate any insight.
Doesn’t sound like you’re at a top 20 Bb / EB / MM firm
For #1 - I’ve never heard of an unpaid garden leave
For #2 - Director level moves are rare - guarantees are typically for MDs with a Rev gen history. Hot markets you’ll see non MDs (juniors) get guarantees like 2020-2022
Laboriosam quaerat doloremque repudiandae enim in praesentium quasi. Dignissimos quo rerum laudantium sed voluptas repellendus est. Saepe voluptatem dolores dolorum hic rem amet qui. Cum voluptates aut ut similique pariatur. Aut consectetur deserunt itaque rerum consectetur eligendi. Voluptatem quidem omnis earum exercitationem laboriosam. Fuga inventore in tempora et adipisci enim.
Necessitatibus ipsum beatae cum nihil voluptas qui doloremque. Voluptates et ex ut ab reiciendis quis.
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...