Tell HN: Beware confidentiality agreements that act as lifetime non competes

I once declined a job offer because the non-compete made no sense. (It was many pages, claimed that I would be paid during the non-compete period, and impossible to read.) I basically concluded that they (the company) had a lawyer that was basically wanking off.

In finance, it is common to be paid your base wage during your non-compete. Or at least that is how mine worked.

Yup, garden leave.

That seems like something ripe for being gamed. How do they protect from someone just quitting and continuing to get paid?

They're not obligated to enforce the non-compete. If you don't have any sensitive information to take to a competitor, they might not give you any garden leave.

OTOH, I've seen non-competes as long as 2.5 years from places like Citadel.

Since a huge chunk of comp in finance is bonus, especially if you're a rainmaker, I don't see how this is a win.

What's worse is actually those non-competes with a variable period. The company doesn't have to tell you in advance how long it will be; only when you hand in your resignation letter will they tell you. It entirely serves to make your job hunt more difficult.

I don't where HN gets its information about investment banks, but it is wrong much more than 50% of the time. (Dart throwing monkeys could do better, I fear.) This is no longer true for non-FO (front office) head count after 2008. In markets (not investment banking/M&A/IPOs), front office is sales, trading, structuring, and a miniscule number of quants. In 2025, The vast majority of working stiffs at the world's top 15 investment banks are being paid an annual bonus that is max 25% of base salary, but 10-15% is more likely. Also, for most FO, when laid-off or leaving, they start gardening leave on the same day. Also, anyone worth anything (as FO) will negotiate with their next employer to have a guaranteed first year bonus that meets or exceeds their last bonus. For non-FO, they are required to work for their entire notice period.

    > I've seen non-competes as long as 2.5 years from places like Citadel.

Congrats: You are part of the 0.01% of the industry. Did they also offer to pay your bonus during that period? Else, it looks like a shitty deal that I would never accept. I heard that Florida now has some weird state-specific rules about high income people with non-competes.

Jesus: What jurisdiction is this? And what dummy signs a contract like that?

New York and the company in question is none other than Citadel.

The kind who likes money. Lots and lots and lots of money.