Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Notice period..how much and can they..
Old 06-25-2018, 06:34 PM   #1
Full time employment: Posting here.
 
Join Date: Dec 2015
Posts: 604
Notice period..how much and can they..

Hey, gang..

Been planning ER for some time now and at a point I "could" pull the ripcord any day.

W*rk has become totally unreasonable (won't bore you with the details) and it's HIGH past time to go.

I have a RSU vest coming up in August that's fairly significant and I'd like to keep it..

If I were to give notice with 60 days to find and transition in my replacement, what do you guys think the MegaCorp would do? Show me the door? Take my gracious offer to help them transition seamlessly?

Need 60 days at this point..don't want to lose the HC or stock. Can't put up with the massive BS for 60 more days. It's really beyond words at this point...

Thx..
__________________

24601NoMore is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 06-25-2018, 06:49 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RunningBum's Avatar
 
Join Date: Jun 2007
Posts: 8,520
They could certainly show you the door. They could do it if you put in notice the day before your RSU vests. I'd wait for the vesting and put in notice as soon as you get it. If you want out ASAP, prepare your transition plan now and offer it to them with the notice.

What is the "HC" you don't want to lose? I don't know that term.
__________________

RunningBum is offline   Reply With Quote
Old 06-25-2018, 06:52 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Chuckanut's Avatar
 
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 9,432
It's amazing how much BS can roll off your back once a person has made the decision to retire. Not all of it, of course, and you may get some new BS in the form of "What in the world will you do when you retire? How can you possibly retire? What ever happened to your loyalty to the company? etc. etc. etc."

For me the last few months went easier, albeit time did seem to slow down a bit. When the BS bucket was getting full, I just told self, only xx more months/weeks until retirement. And I planned a nice trip for myself to start about a week after retirement. ;-)

I would definitely wait until I was vested before giving notice. Then give two weeks which is customary.
__________________
The worst decisions are usually made in times of anger and impatience.
Chuckanut is offline   Reply With Quote
Old 06-25-2018, 06:57 PM   #4
Thinks s/he gets paid by the post
 
Join Date: Aug 2004
Location: Laurel, MD
Posts: 4,503
HC=healthcare, I think.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
jazz4cash is online now   Reply With Quote
Old 06-25-2018, 07:01 PM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RunningBum's Avatar
 
Join Date: Jun 2007
Posts: 8,520
Quote:
Originally Posted by jazz4cash View Post
HC=healthcare, I think.
Sounds right, thanks. It was kind of out of context, and it seems a bit odd to worry about 60 days of healthcare.
RunningBum is offline   Reply With Quote
Old 06-25-2018, 07:10 PM   #6
Recycles dryer sheets
 
Join Date: Jul 2016
Location: Chicago
Posts: 156
They for sure could show you the door if you give notice. You could be a security risk, a risk for confidential information, or any other excuse. Say nothing, and once RSUs vest give them notice. No need to stick around to train the next guy. If you've seen good people get tapped on the shoulder and escorted out of MegaCorp during downsize periods (I have), you'd feel the same way.
HarveyS is offline   Reply With Quote
Old 06-25-2018, 07:11 PM   #7
Moderator
Aerides's Avatar
 
Join Date: Nov 2015
Posts: 3,837
This topic comes up about once a month, and draws many opinions, ranging from "don't give more than contract requires" to "you have no honor if you don't give them a long runway".

ymmv, you need to have a feel for your MC.

Here's a recent multi-pager:

How much notice do you give when you retire?

And another one:
How much time to give for notice?
Aerides is offline   Reply With Quote
Old 06-25-2018, 07:17 PM   #8
Recycles dryer sheets
 
Join Date: Jan 2017
Location: Charlotte
Posts: 222
It is a companies responsibility to do their own succession planning. If you want to take on the risk of losing your RSU's out of some feeling of obligation just be forewarned that the company almost certainly will feel no reciprocal obligation to you.
bw5972 is offline   Reply With Quote
Old 06-25-2018, 07:18 PM   #9
gone traveling
 
Join Date: Mar 2015
Posts: 3,508
Quote:
Originally Posted by RetireSoon View Post
I have a RSU vest coming up in August that's fairly significant and I'd like to keep it..

If I were to give notice with 60 days to find and transition in my replacement, what do you guys think the MegaCorp would do? Show me the door? Take my gracious offer to help them transition seamlessly?
They probably wouldn't show you the door, but why on earth would you take that chance?

Wait until the 60 days and vesting event is over, give your traditional 2 weeks notice, and call it a career.

Quote:
Can't put up with the massive BS for 60 more days.
I think you'll find you can put up with anything for 60 days when the end is in clear sight.
joeea is offline   Reply With Quote
Old 06-25-2018, 07:32 PM   #10
Full time employment: Posting here.
 
Join Date: Dec 2015
Posts: 604
Hey, gang..thanks for the very good advice. I'll wait until the next RSU vest but every day is painful beyond words at this point.

Want to quit immediately after the BS today but suppose I have 50+ days (UGH!) to go at this point...
24601NoMore is offline   Reply With Quote
Old 06-25-2018, 07:58 PM   #11
Thinks s/he gets paid by the post
 
Join Date: Mar 2004
Posts: 2,915
Quote:
Originally Posted by RetireSoon View Post
Hey, gang..thanks for the very good advice. I'll wait until the next RSU vest but every day is painful beyond words at this point.

Want to quit immediately after the BS today but suppose I have 50+ days (UGH!) to go at this point...
Do you have any vacation days? Sick days? (I feel the onset of a cold coming....)

omni
omni550 is offline   Reply With Quote
Old 06-25-2018, 08:08 PM   #12
Thinks s/he gets paid by the post
 
Join Date: Jan 2013
Posts: 2,160
Quote:
Originally Posted by omni550 View Post
Do you have any vacation days? Sick days? (I feel the onset of a cold coming....)

omni
Yeah, and if the BS is especially thick and stinky, at the end of the leave, I might just call in retired.
Another Reader is offline   Reply With Quote
Old 06-25-2018, 08:55 PM   #13
Recycles dryer sheets
 
Join Date: Nov 2015
Location: Hometown
Posts: 97
Quote:
Originally Posted by HarveyS View Post
They for sure could show you the door if you give notice. You could be a security risk, a risk for confidential information, or any other excuse. Say nothing, and once RSUs vest give them notice. No need to stick around to train the next guy. If you've seen good people get tapped on the shoulder and escorted out of MegaCorp during downsize periods (I have), you'd feel the same way.
+1

I was in a similar situation waiting for a stock vest date. Don't trust a MC HR. If you figured everything right there's no need to worry about burning future job references. Life's short don't waste it any longer at work once it stops benefiting you - it's not your responsibility to worry about training your replacement - that's what your manager is getting paid to be ready for.
__________________
Retired @55 in 2016 - enjoying every moment of it.
FireFool is offline   Reply With Quote
Old 06-25-2018, 09:16 PM   #14
Thinks s/he gets paid by the post
 
Join Date: Mar 2013
Location: Coronado
Posts: 1,253
Quote:
Originally Posted by RetireSoon View Post
Hey, gang..thanks for the very good advice. I'll wait until the next RSU vest but every day is painful beyond words at this point.

Want to quit immediately after the BS today but suppose I have 50+ days (UGH!) to go at this point...
This would be a good time to reread the plan docs for your RSU program. It should say in there what happens to your shares after voluntary and involuntary terminations. If they let you go during your notice period when you were willing to work, that's an involuntary termination that is not for cause.

Let's say your plan has a 3-year vesting period, and your vesting date is only 2 months away, and your plan plan provides for pro-rata vesting when terminated other than for cause. In that case, you might be decide to give notice sooner than later if you'd only lose at most 1/18th of your shares when they walked you out early.

Of course you may not have accelerated vesting, or you may decide not to take the chance; but it can't hurt to read the docs and find out what your options are.
cathy63 is offline   Reply With Quote
Old 06-25-2018, 09:24 PM   #15
Thinks s/he gets paid by the post
ivinsfan's Avatar
 
Join Date: Feb 2007
Posts: 4,529
Do you have anything such as dental work, elective medical care or even a family leave type situation that can help you shorten the actual days at work.

Sometimes having the end in sight isn't enough to get you through the week!
ivinsfan is offline   Reply With Quote
Old 06-25-2018, 09:25 PM   #16
Full time employment: Posting here.
davebarnes's Avatar
 
Join Date: Dec 2015
Location: Berkeley, Denver, CO, USA
Posts: 774
Quote:
Originally Posted by RetireSoon View Post
I have a RSU vest coming up in August that's fairly significant and I'd like to keep it.
Give your 1-day notice 1 day after the magic date.
__________________
Dave Barnes
Old (71.0) Fart Nerd
AA 73/24/3, WR=3.6%, 91.6% retired, still working 1/2ish hrs/day
davebarnes is online now   Reply With Quote
Old 06-25-2018, 10:47 PM   #17
Thinks s/he gets paid by the post
 
Join Date: Apr 2010
Posts: 2,974
Absolutely. And double check with the agent that holds the RSU to ensure that they are in fact listed in your account prior to giving notice.

Same with options. There are only so many to go around. Why hand them out to someone who is retiring or resigning? From megaports perspective it defeats the purpose of the program. Same with bonus dollars.
brett is offline   Reply With Quote
Old 06-25-2018, 11:00 PM   #18
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 15,302
The question is how much are the RSUs worth? And if they let you go do you lose them? Note.... when I was let go I still had the RSUs that vested over 3 years.... not big money, but I did not lose them..


BUT, if you lose them and it is big money they why not kick you out and not give you the money?
Texas Proud is offline   Reply With Quote
Old 06-26-2018, 12:32 AM   #19
Thinks s/he gets paid by the post
 
Join Date: Jun 2016
Posts: 3,059
I agonized over this question too. In my former company, it was customary for C-level executives to give ridiculously long notice periods - at least a year, often 2 years or more. I had a cash bonus coming that I had to stay until a certain date to get, my BS bucket was full, and DH and I were ready to get on with ER. It was tough at times, but I stayed until I got my payout, transferred it the next morning to another account, and gave notice the following day. My employment contract required 30 days’ notice, and that’s what I gave. People were shocked and thought I had another job secretly lined up, despite my telling them I was retiring just after my 56th birthday. DH gave two weeks’ notice at his job, and we both retired on the same day!

I felt a little guilty at first, but others on this forum helped me get over that. Companies pretty easily move on, especially if you have competent direct reports and teams, which I did. Although my CEO/boss pressured me to stay longer, I’m glad I stood strong. Everything worked out great for me, and my former employer did fine too. Hard to believe I know, but somehow they survived without me.

Hang in there and don’t say a word to anyone until you get your RSU. Think how upset you’d be if you told them early and they let you go before you vested.
Scuba is offline   Reply With Quote
Old 06-26-2018, 06:26 AM   #20
gone traveling
 
Join Date: Mar 2015
Posts: 3,508
Quote:
Originally Posted by RetireSoon View Post
Hey, gang..thanks for the very good advice. I'll wait until the next RSU vest but every day is painful beyond words at this point.

Want to quit immediately after the BS today but suppose I have 50+ days (UGH!) to go at this point...
You get to decide exactly how much those 50+ days are worth to you.
You can always decide to leave immediately.

My company's policy was not to pay out bonuses if you weren't on the payroll when the checks were cut (typically, 2+ months after fiscal year end).

I left immediately after the fiscal year end anyway, with 2 weeks notice. I still ended up getting my bonus. A pleasant surprise, but one I was not willing to stay for.
__________________

joeea is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
C level notice period Scuba Life after FIRE 21 06-18-2016 08:42 AM
WTF...didn't they think we'd notice... TrvlBug Other topics 46 06-07-2016 08:16 PM
How can this happen during global warming period? mickeyd Other topics 8 10-18-2008 11:37 PM
If they can put a man on the moon why can't they...... BOBOT Other topics 67 08-05-2008 08:27 AM

» Quick Links

 
All times are GMT -6. The time now is 09:17 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
×