zlacker

>>pg_123+(OP)
Quant firms at least are one of the few places where noncompetes can make sense. It's an extremely IP sensitive industry with stupendously high pay where the employee is going to someone probably competing very directly with you, for the same/similar opportunities. Actual code + NDAs banning literal reimplementations of stuff aren't that valuable, the knowledge and ideas will stay in the head of the employees.

The two main issues I have with them are that firms tend to give them to just about everybody (instead of just to folks working very directly with real IP), and they only pay base salary, not something closer to actual total compensation (often multiples of the base pay).

Having said that, the quant firm is relatively unimportant and not a good reason to prevent a total noncompete law. It's probably better to just ban them then try and make allowances that aren't full of loopholes.

>>vgathe+Cg
Quant firms have already adapted years ago.

Now they don't have 6-24m non-competes anymore, but 6-24m notice periods. You're paid full salary (incl bonus) but you don't work ("gardening leave") and obviously can't work for a competitor (because you can have a non-compete while you're employed).

>>tomp+Lv1
So what's the incentive to keep working under those conditions?

>>ghaff+Ox1
I guess bigger and better bonuses in the future?

Like, why would you quite and semi-retire for 1-2 years when you can keep working for like 5 years and actually retire?

(I'm just LARPing, I have been out of the industry for a few years by now...)

>>tomp+hz1
I guess it depends where you are in your career. If you're really aiming at a five year time horizon, then I can see it making sense to stick around. But, if you're yonger a year or two fully-paid vacation sounds pretty tempting.