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Chief
Your exit paperwork will tell you your exact date of separation.
Chief
Depends on the firm, but that’s a question for the HR person there on D-Day.
Some firms treat it as garden leave where you’re technically still employed through the last date of the severance period and you retain your benefits and regularly scheduled salary.
Rising Star
Sure, but garden leave should not be paid as severance. It should be paid as regular.
Everyone saying no doesn’t know what they are talking about. You are technically and legally an employee until the salary continuance expires. This distinction is important for several reasons not the least of which is that you cannot claim unemployment until after the salary continuation date is passed.
Ad1 is correct. I went through this at another big4. I clarified with hr on the date and ran an employment check on myself to verify. I also made a similar post at the time and the responses were wrong so the best thing you can do is run a check for yourself
Rising Star
Unless you came to a specific agreement saying otherwise, typically no.
Yes. You are getting paid by a firm. Severance period is part of your employment term.
Pennsylvania
Why’s it matter?
Chief
Also matters for job apps and interviews since you’ll look better if you’re technically still employed.
For some odd reason this question makes me giggle. Severance comes from the verb to sever - which means to suddenly and forcibly cut or end something.
Your employer does not want you anymore for whatever reason but because it is NOT firing you is willing to provide some financial relief as a courtesy for the transition.
Once you sign whatever documents of acceptance of the severance terms, you are free to find your next gig unless the terms require you to be off the job market search and/or the industry for some time.
If the terms require you to be off the radar, such ex-employer better be paying you a very lucrative amount to put up with such a situation. Usually such situations happen among executives that have deep knowledge of intellectual property.
For most folks, severance pay is only good for a few weeks. So the best thing is to move on as soon as possible and look for something better. When the paycheck stops, one has to go find it somewhere else before your account reaches the red zone!
No, your paperwork will tell you separation date but it is before the severance period
Deloitte actually defines last date as the day your severance stops.
No. Check the work number if you want to check what your end date is with the firm for background checks and interviewing
If it’s garden leave then yes, they’ll tell you the last date
For some roles where there is 3 month notice (e.g senior director) there is an option for lump sum or get paid for the 3 months as normal. If you choose the latter option your separation date is at the end of those 3 months vs lump sum would be much earlier). So it can depend….