New York Gov. Kathy Hochul to Reject Ban on Noncompete Agreements(wsj.com)
wsj.com
New York Gov. Kathy Hochul to Reject Ban on Noncompete Agreements
https://www.wsj.com/us-news/law/new-york-gov-kathy-hochul-to-reject-ban-on-noncompete-agreements-3f0eb7d4
26 comments
Please, can we not with the rationalizations either way. This was bought and paid for, end of story. All the "negotiation" was just the necessary theater.
The elite (for lack of a better phrase) run NY, not very surprising to see this. It’s sad that non-competes still stand in most states. A one-sided deal that hurts the average employee.
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.. I look forward to a future visit when corporations have been relegated to the wrong side of history "that embarrassing cancerous thing we let happen long ago."
TLDR:
> The governor said in November that she believed the agreements should be banned for lower-wage workers but that higher-paid employees could negotiate for themselves. She floated a compromise in which people with income over $250,000 could still enter into such an agreement.
Negotiators for Hochul and state lawmakers were exchanging drafts of amendments up until Friday, according to people familiar with the matter. The final sticking points included the compensation threshold, and whether that number should include base wages or total compensation, including things like stock options and bonuses, the people said.
> The governor said in November that she believed the agreements should be banned for lower-wage workers but that higher-paid employees could negotiate for themselves. She floated a compromise in which people with income over $250,000 could still enter into such an agreement.
Negotiators for Hochul and state lawmakers were exchanging drafts of amendments up until Friday, according to people familiar with the matter. The final sticking points included the compensation threshold, and whether that number should include base wages or total compensation, including things like stock options and bonuses, the people said.
This limit needs to be waay higher
People making $250k don't get to negotiate a custom contract, just a few variables in a template.
People making $250k don't get to negotiate a custom contract, just a few variables in a template.
To piggyback onto this, a $250k limit affects most physicians. Hospitals will argue that a physician leaving a facility hurts the hospital because that physician will bring their patients with them. What they don't mention is that this is literally impossible for all shift work positions like emergency medicine, anesthesia, hospitalists, critical care, or radiology, among others. They don't choose their patients.
Anyway, medical noncompetes frequently target a certain number of mile radius around the hospital. In a tightly packed area like NYC, this basically locks the physician out of working for any other hospital during the non-compete period. Recently, the hospitals have become very aggressive at pushing their staff to work longer stretches of shifts with no breaks. Also, there's no overtime since they're considered exempt employees. They can get away with this because it's very difficult for their staff to leave without either moving or working locums out of the area until their non-compete times out. This doesn't work for many families if, for example, they have children or older parents to care for.
Much of the American healthcare system is now owned by private equity and they will fight tooth and nail to keep their non-competes. Healthcare workers are burning out and the non-competes eliminate much of their leverage to push for better working conditions. It's disgusting and needs to stop.
Anyway, medical noncompetes frequently target a certain number of mile radius around the hospital. In a tightly packed area like NYC, this basically locks the physician out of working for any other hospital during the non-compete period. Recently, the hospitals have become very aggressive at pushing their staff to work longer stretches of shifts with no breaks. Also, there's no overtime since they're considered exempt employees. They can get away with this because it's very difficult for their staff to leave without either moving or working locums out of the area until their non-compete times out. This doesn't work for many families if, for example, they have children or older parents to care for.
Much of the American healthcare system is now owned by private equity and they will fight tooth and nail to keep their non-competes. Healthcare workers are burning out and the non-competes eliminate much of their leverage to push for better working conditions. It's disgusting and needs to stop.
I've noticed people have no concept of what real wealth is. 250k is a mid tier software developer that doesn't even work that hard.
Is it? That suggests that I'm being rather severely underpaid. But I doubt this, in the US at least the average seems to be much closer to half of this figure when researching positions.
For a mid tier developer at a public company. yeah it is. Until your like senior staff +, your still just another replaceable ic stuck listening to hr rules. Your not making demands or negotiating your employment contract.
The idea of having the cut off so low is detached from the realities of hiring at large companies and how much actual leaders in these companies are making.
The idea of having the cut off so low is detached from the realities of hiring at large companies and how much actual leaders in these companies are making.
The median for NYC is a lot higher than for the US as a whole. The highest paid geographic tiers for jobs tend to list NYC and SF Bay first, even above NY/CA state.
For NYC that 250k number is absolutely mid-level for tech and finance.
For NYC that 250k number is absolutely mid-level for tech and finance.
Ah, I'm out remote in Tennessee, that might explain the discrepancy. Man, is the cost of living in NYC that crazy? I knew the bay area was up there
Manhattan is probably more expensive than SF. I frequently hear of $4k-$5k/mth small 1 bedrooms, where in SF it’s possible to get those for $3k. That’s the comparison to make for your office likely being 10 minutes away.
250k is the 92nd percentile of incomes in the US. You’re right that people have no concept of what real wealth is, but I don’t think it’s in the way you meant it.
Americans make so little money they still think breaking 100k is "making it", so people see a number like 200k or 300,cant imagine what that is.
250k only sounds like a lot becasue the bar is so low in the US. Even our politicians are under paid. This governor makes 250k. I make more then her and deffintly responsible for a lot less. And I'm not negotiating anything in my employment contract
250k only sounds like a lot becasue the bar is so low in the US. Even our politicians are under paid. This governor makes 250k. I make more then her and deffintly responsible for a lot less. And I'm not negotiating anything in my employment contract
> This governor makes 250k
Plus whatever additional her husband gets from providing concessions at the new Buffalo Bills stadium that NY taxpayers are paying for.
Plus whatever additional her husband gets from providing concessions at the new Buffalo Bills stadium that NY taxpayers are paying for.
I've wondered what would happen if we paid our politicians like the private sector. Governor is more or less a ceo job. But the pay is drastically less. What kind of people are we getting to lead the?
Hard to tell, would it reduce corruption or just let them pocket more?
Hard to tell, would it reduce corruption or just let them pocket more?
I remember reading that Singapore does this, but I don’t remember if it supposedly actually works.
Doesn't seem unreasonable, but even then, a life time non-compete should be banned and for the duration of the non-compete the original company should compensate the difference workers if at their new job they are making less than their old job that made them sign the NC.
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For higher wage noncompetes I thought they were often compensated, which is another way of drawing a line for what is legal and what isn’t. In finance, where a lot of your income is in bonus, you would maybe collect your full salary for the length of the non compete but no chance at bonus. “Gardening Leave.” Never heard of such a thing in tech, but I am assuming Wall Street, where non competes make more sense anyway, was a large influence on her.
I don’t think they are in tech? They are one of the many boilerplate forms you sign iirc. Gardening leave sounds fun to me!