non compete agreements

hey guys,

I'm currently going through offers from a few prop shops (in power/nat gas) and more traditional prop firms.  I'm interested in the power prop shops, but was just wondering how 1-year non competes work.  Can you even secure another job 1 year in advance (for non university recruits)?  Or do people at these non compete lengths just resign/get fired and recruit closer to their non compete expiration?

Thanks

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Comments (4)

Sep 6, 2021 - 12:56pm

Non-competes are normally for direct competitors, not an entire industry or huge group of companies. They would only be enforceable if you move to a 100% competitor while having access to confidential client data. And enforcement is a tough on anyway on these...

  • Investment Manager in HF - Other
Sep 6, 2021 - 2:48pm

In addition to what the other person said, some firms will wait the 1 yr if they are a direct competitor. This is generally the "top" bigger firms, but it is definitely possible, and depending on your non compete, you can be compensated during that time. 

Sep 6, 2021 - 3:18pm

people use to be able to get the NC money and work in tech -> 2x paycheck. Is that still possible now?

Array
Sep 6, 2021 - 9:38pm

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Namaste.

D.O.U.G.

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