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Here's what to know about these agreements, what they often include, and which components are easiest to negotiate. (Photo: Getty Creative) (PonyWang via Getty Images) Severance pay
Depending on your cash situation, consider whether a severance lump sum or a series of installments is more beneficial for you and negotiate. Your severance money is income in the eyes of the IRS ...
Losing your job can be one of the most difficult challenges you have to face in life, but negotiating a good severance package can help you get back on your feet.
According to Investopedia, a golden handshake is similar to, but more generous than a golden parachute because it not only provides monetary compensation and/or stock options at the termination of employment, but also includes the same severance packages executives would get at retirement. [2] The term originated in Britain in the mid-1960s.
Severance packages are often negotiable, and employees can hire a lawyer to review the package (typically for a fee), and potentially negotiate. However, employees are never entitled to any severance package upon termination or lay-offs. [3] Severance packages vary by country depending on government regulation.
Don't get mad, get severance! Who isn't upset when they hear the news that they're being laid off? Instead of getting angry and storming out, or going quietly into the good night, the best thing ...
“Research your industry’s standards regarding severance packages and be realistic about what you are asking for,” Mercer said. “Remember the goal is to reach an agreement that is fair and ...
Watch for bias, don't overvalue stock options, and know what you're entitled to receive if you're fired, say employment attorneys who specialize in executive compensation.