How to deal with noncompete?
I have a 3 month noncompete clause at my current role in ER. I’ve had multiple interviews and got to the final round at one firm, but HR told me they’re going with a candidate that can start ASAP.
I’ll be honest and say I don’t blame them, because I’m not bringing anything crazy to the table yet (only been in the industry for 5 months and not fully licensed). Im not saying I wouldn’t exceed at the job, but at this level they want a competent body in a chair and aren’t expecting the next II ranked analyst.
I’m still on the interview trail at other firms, but curious if I should even disclose my noncompete clause to them…
What would honestly happen if I just took another job and started ASAP (assuming I get it)? Is my old firm actually gonna come after me for this? Would it harm the new firm in anyway?
Really feel recruiters getting turned off once I tell them I can’t start for 3 months. If I was more senior sure they may wait, but no sense in waiting around for a junior when there are 100’s of qualified candidates who can start ASAP.
Any advice on how to deal with this?would be appreciated. Ty
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You have to tell the truth in the application but when it comes to start dates, just ignore it. It most likely violates antitrust law and the resources required to try to enforce it generally isn’t worth the expense for people at your level. It is more of a scare tactic than anything else.
Also, safe to say you aren’t in California?
Can you elaborate? Define tell the truth on application? This is just HR reaching out to me and I never submitted application.
It’s moving from the Midwest to NYC.
If they ask for it, provide it. Don’t volunteer it. If they ask about how it impacts them say that the noncompete is not enforceable because it violates antitrust law. That it is an illegal restraint on trade. Also, when you tell your current firm that you are leaving, don’t tell them your new firm or role. Just say something like it is time to move on to something else. You wanted to work in nyc. Stuff like that. There is no reason to highlight for them that this could even be an issue.
Does your institution have a northeast office? If not, you will be able to also explain that the noncompete wouldn’t apply because it is too geographically broad.
I do want to make clear that this isn’t legal advice. Talk to a lawyer if you want that. Just geography and antitrust are the two biggest factual/legal reasons why the noncompete is likely not enforceable
Thanks that was helpful!
Understood lol - not legal advice
My office does have a NE office (very small and the research department is very small there but banking is larger). Additionally, I would be moving sectors (or I guess you can say sub sectors) think banks to fintech.
Not sure how much that makes a difference (they’re both still under financials). Additionally, I’m not fully licensed. Also from asking close friends at the firm who started only a year prior to myself - they do NOT have a noncompete which is BS. All associates that I’ve spoken to don’t have noncompetes.
Honestly, it sounds like they were politely letting you down if you never submitted an application.
The only time you should be mentioning a non-compete is if an employment application explicitly asks upfront or if you have a signed offer letter and you need to negotiate compensation. Concerned you may be misinterpreting your non-compete. If you aren't being compensated during your non-compete period it was likely included as part of the employment process for reasons of legal redundancy. Most non-competes are not enforceable at the junior level because juniors generally lack legally substantial knowledge of proprietary information which can harm their previous employer.
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