Jun 13, 2016

Please don’t treat your severance package as a year’s paid vacation

Posted by Wendy Weber

at the seaside

I just read a piece by Marc Cenedella of TheLadders regarding generous severance payouts.

In his words, “what seems like a gift from the highest graces too often turns out to be bad tidings in disguise”.

You ask, “How can it be that a full year’s ‘money for nothing’ can end up hurting you?”  It leads to a false sense of security…that the future is “far away” and you don’t need to job hunt right away.  It can take a long while to find a great new job, and you don’t want to do it when the money is gone and your back is to the wall.

Cenedella advises those lucky recipients of generous severance to bank the money, and make a timely transition into a new job.  (I agree, and that is exactly what I did earlier in my career when it happened to me.  The money provided a down payment on my home).

To read the piece in it’s entirety, click here.

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