6 months notice period
这里的一个快速问题。我的一个朋友签了fairly large global hedgefund and the notice period in the contract is 6 months. She has asked but company mentioned this is just standard contract.
Previsouly she thought that this is negotiable (have successfully negociated down a notice preiod before). But during latest job change, boss insisted on she servicing her notice and working until the very last day, which makes her wonder about the much longer notice preiod in the contact of the new job.
Is a 6 months notice period normal for a hedge fund？Is this fair? Does one has room to negociate at the end of your employement? If say someone were to move country (e.g. old job in New York, new job in London/Hong Kong), are the person still bounded by this (assume it would be difficult to enforce)?
Comments (21)
Notice period or non compete?
如果您谈论的是通知期（即，宣布离开时给雇主给雇主的时间），那是不正常的。我只熟悉美国市场，但我没有seen aHFcontract with anywhere near that long of a notice period.
非竞争会更有意义（也许这就是您所指的？）。在这种情况下，6M是非常标准的。至于可执行性，我会与律师交谈。
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Notice periods are generally 1-3 months. Your friend's case sounds like a clear case of the fund pretending not to have a non-compete clause, when effectively they have it but just call it "notice period".
It sounds like your friend has already signed, so all leverage to negotiate is lost. He/she can of course ask when he/she resigns, but will have zero leverage. Predictably, her fund will ask him/her where he is headed. If it's not a competitor, good chance the fund lets him go early. But if it is a competitor, the fund might very well hold him to the letter of the contract.
If non-compete period is subsumed under notice period, the employee gets paid during non-compete right? What if non-compete restriction applies on top of/ is separate from notice period? Are employees usually compensated during phase of non-compete restrictions?
Are they receiving comp upfront, or moving expenses etc...
如前所述，听起来像是一个回答/非竞争。至于您关于“非竞争期间付款”的问题，即花园休假的定义基本上您说，在这种情况下，您所说的与通知期平行的。
它只是一个方法,使一个更难employee to leave. Let's say the fund pays bonuses in Feb/March, then if you want to leave you are not going to resign until that bonus is in your account. So the earliest you can start at a new fund/job is September which means you are walking away from almost a full year of comp to change seats. You start to see more and more of this: bonuses getting paid later and longer notice periods. All designed to make you think twice about walking away after a shitty bonus.
If you're going to competitor wouldn't it just be paid gardening leave during which you chill on your base only doing whatever with the next jobs signing bonus presumably comping the lost bonus to an extent
Really getting into the grey area. That said majority of people should look at their compensation over 2 years, some form of signing, some form of guarantee, and possible performance kickers down the line. That is usually how we look at people's comp your last 2 years trailing and your next 2 years.
6个月的花园休假是正常的。。。。。。。。。。。。。。。。。。。。。。。。
Garden leaves are standard but notice periods are rarely enforced imo...last place I left I was locked out of the systems within an hour of resigning.
是的，大多数公司只会立即将您踢出去。我已经看到人们在一段时间后赶上了这一点，并在没有告诉任何人的情况下辞职了，只是停止有一天（更多在科技公司）上班。
我有3个月的通知（付费）和另外6个月的非竞争（未付款为花园假）。...我的条款不是常态，如果我退出，我可能会失业，而无需支付6个月的薪水。
In Europe, 6-months non-compete is the market standard. You will typically have a 3-month notice, and the remaining 3-months (to run out the non-compete) you're unpaid before starting your new job. That said, this is the worst case scenario. In most cases, there is a negotiation to be had and in 50% of cases your non-compete will be reduced.
Anything more than 6-months is tough to legally enforce.
closed
是的
6 month notice period is way too long based on what I hear from ppl inhfindustry. For non compete that's totally normal
in reality, notice ~= non compete. it differs per firms. For instance,Citadelemployee serves approx. 1-2 years, while firms like Millennium their non compete is as short as 1-3 months. depends on firm culture. for banks with VP+ levels, i assume it is around 6-9 months. So your friend's 6 month is not totally out of norm.
Can someone explain to the the difference between those three in the US?
1) notice period
2) noncompete
3) garden leave?
前两个是非常自我解释的。在美国的情况并不常见，但花园休假意味着您可以坐在家里不为最后一家公司工作，而是为任何竞争对手工作。
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