Implications of a long non compete as a grad?
I interned at a pretty good fund during college and was extended a return offer to join them after graduation. However, I recently interviewed with a renowned pod that is widely recognized as the top place in the market, and I've been offered a position with them upon my graduation in a couple of months. I genuinely admire the team and the role they are offering, but they are requesting that I sign a 12-month non-compete agreement, which seems rather aggressive.
While I understand that in the best-case scenario, if I stay with this firm until I reach a senior position, a 12-month non-compete might not be as significant of a concern. However, I'm apprehensive about the potential implications if I decide to leave after a couple of years. Such a restrictive agreement could pose a significant hurdle in securing another opportunity in the future.
If anyone can just explain how non competes work in more detail and their thoughts on having such a large one at this level I would really appreciate it!
Non-competes are standard. If the non-compete ban makes it through to law then it's not an issue. Many firms will wait out non-competes to secure top talent. Some recruiters have told me that having a longer non-compete can make you seem more valuable but not sure if that has much validity.
Any top firm will not care about a potential hire’s noncompete period… very much standard across the buyside so it’s a given and they will wait for top talent.
This shouldn’t really factor into your decision… it’s not like you’re in a position to push back anyways
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