Paid Non-Compete to get a Masters?
Wondering how most of the Non-Competes work in this industry. I haven't left yet to have one exercised on me, but I'm thinking of going back to get a Masters and it would be great if over the next 6 months I get my Salary to do nothing.
If I have no offers but say I'm leaving to look for other opportunities will the enforce it? Or is there a way where I get another offer from a firm I have no intention of joining just for them to exercise the NC on me, and when it comes time to joining that firm say sorry I've decided to pursue a Masters?
Check if your firm has a policy that covers exactly your case. I have two former colleagues that went and did MBAs and that counted as "early retirement" and they got all their deferred bonuses and severance paid out.
Greatly appreciate the response! Is severance typically put in the contracts? I'm trying to think of the best way to bring up hey I'm dipping out to go do a masters, if you're not gonna exercise the non-compete on me upon exit what's to stop me from saying nvm to the masters and going to choose a new role at a competitor.
Trying to figure out the best way to take advantage of the situation given that I know they just fully exercised a non-compete on one trader, but on another they let them go. He went from crypto to equities so I guess made a little more sense. Should I just ask HR how the non-compete works if we were to leave to get a masters degree - trying to figure out the best way to get a definitive answer without putting a target on my back haha.
I can't remember my clause. But I basically think it was like if you go to school for your non compete they stop paying you.
Yeah, this also makes a ton of sense. How would they know though it's not a continued tracking thing right? If I got an offer and showed them it was from a competitor and then just reneged or never accepted that offer to go to school then it sounds like they'd pay me while I'm at school.
In my contract I have to let them know if I'm going to a competitor and then they have discretion to exercise or not exercise the non-compete. If I say here's an offer from a competitor and then just go to school instead I don't think in my contract there's legally anything saying I need to let them know I changed my mind.
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