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?

Comments ( 5 )

1mo
ugglan , what's your opinion? Comment below:

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.

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1mo

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.

1mo

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.

8d
optiver_guy , what's your opinion? Comment below:

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