I'm a senior manager in corp dev (ignore title) and recently was told I'd be getting let go for non-performance reasons. I'm wondering how much severance is typical for people with over 10 years of experience - letter mentioned 2 months of wages, does anyone have any other datapoints?
| +368 | Don’t work at UBS - UBS Sucks | 36 | 31m |
| +326 | Article - UBS’ Investment Bank Keeps Losing Ground | 41 | 17h |
| +121 | Should My Intern Get a Return Offer? | 44 | 4h |
| +60 | When to Leave Office as Intern | 8 | 3d |
| +54 | Best IB Group Overall? | 32 | 17m |
| +39 | Would you rather be a Touse Squid or a Bouse Mogger in IB | 2 | 3d |
| +33 | What do you say to ppl who don’t know EVR/LAZ/CVP/PJT | 28 | 1d |
| +33 | F*ck it I'm Going to Med School | 15 | 2h |
| +31 | STEM student lost in London IB recruiting | 17 | 2d |
| +26 | [HELP REQUESTED]: Take A2A Promo or Go Corp Dev | 9 | 3h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Know a guy who was recently let go with a similar number of YoE - 3 months severance, sad
2 months sounds about right. I've heard 2 weeks per year at the firm from some banks, but that's obviously very generous.
This isn't typically something that can be negotiated so I would believe what is in your letter
2 months??! There’s no way, in what world do people with ten years of experience get 2 months?? F*ccccck that, what a joke
At smaller company severance can often be zero. For a bigger company doing a larger layoff, 2 months is the "legal minimum" for a layoff under WARN Act hence why it's a common number (large caveat that there is no official legal minimum, but since you don't work your notice/severance period in IB, you just get paid out the 60 days)
Anything more is just companies trying to be a little more fair to their employees, but it can be expensive paying people for months who aren't even there
I don’t think there is a typical severance package, it’s all very bespoke. Two months sounds generous from other stories I’ve heard. But in the grand scheme of things, two months is barely enough time to find a new job so I know it sucks. You’re kind of at the mercy of the company you work for. Such is capitalism.
This. Other datapoints on severance are irrelevant, it’s part of the employee agreement - not negotiable.
Neque non facilis sed totam voluptate enim nihil. Maiores quia quia rerum iusto. Et omnis totam laboriosam accusantium. Dicta et asperiores officia.
Sit eius repellendus architecto sit vel vitae. Commodi excepturi ea magni itaque laudantium soluta. Fugiat aut aut ut.
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...