Those of you who negotiated - how long typically from each ask until FactSet responded with their improved (or not) terms?
10 replies (most recent on top)
@c3 Caution folks. If you are over 40 years old, you may have more time to sign.
I fail to see what leverage you could possibly have. Maybe the fact that a non-compete is probably unenforceable after a layoff. An employee cannot simultaneously be an essential asset and redundant. Could this work for a senior employee who could identify solution gaps or weaknesses for a competitor? Would they start the severance offer for such a person at 5k though? Hard to imagine.
actually correction (from @c3 ) - I meant to say 45 days.
Was let go in June. I had 7 days to sign, I ended up not negotiating :( . What will happen if you can't reach an agreement after 7 days though? Will they end up not paying severance?!
@a5 Are you able to share your country or region?
@ae By what % were you able to increase the offer in the end?
@a9 The process took 3 months, they stopped paying me to make me accept. But yeah please don't agree to their first or second offer, or the fear the offer is going to be removed entirely. They are gaining from the layoff, greedy corporate so should pay out.
@a5 similar question - how long between each offer? How long was the total process? How close did you get to your "you must sign by this date" date? Did that date ever move? Thanks for your help - may make a big difference for my family and whether we keep our home.
...and how many rounds of back and forth did it take to get from the initial separation agreement to the final one?
Just wait it out, don't accept until they increase. I managed mine to increase from 5k to over 60k by waiting it out until they came back with better offers. They will scare you into thinking it's final offer...