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[return to "New York may ban noncompete employment agreements and Wall Street is not happy"]
1. GuB-42+lv[view] [source] 2023-11-18 12:31:22
>>pg_123+(OP)
The article doesn't address what I think is the most important aspect of noncompete agreements: compensation.

In France, and I believe in many other places as well, you can't have a noncompete without proper compensation. Compensation is relative to how it will affect the former employee career, it is usually less than a full wage, but it can be that if it makes finding a new job particularly difficult.

There have been a trend at one time of bullshit noncompete clauses that were too broad and didn't come with compensation, these are not enforceable. If they tried to sue the employee (they don't), they would be laughed off by the judge.

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2. bradle+1A[view] [source] 2023-11-18 13:07:44
>>GuB-42+lv
This is a problem in the tech industry but not on Wall Street.

The norm there is paid time off between jobs (“gardening leave”). Everyone knows it is part of the system and that a mid level or senior hire can’t start right away. They also buy out still vesting bonuses and the like.

It’s quite a civilized system and I think the law ought to leave it alone, while addressing abusive ones like we have in tech.

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3. silver+nN[view] [source] 2023-11-18 14:23:46
>>bradle+1A
Garden leave means you get your low base salary but not any bonus, which is the bulk of a finance income.
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4. lovich+XQ[view] [source] 2023-11-18 14:43:00
>>silver+nN
It doesn’t _mean_ that.

It _can_ imply that if garden leave isn’t valued by workers in the negotiation stage of a position, but that also means it could be the bottom right corner of the prisoner’s dilemma.

Luckily one of the major reasons for the government to exist is to create regulation like this to make everyone pick the top left square of the prisoner’s dilemma so we all get a better outcome

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