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1 Week per year worked is standard. I was at a place for 20 years and got 6 months severance. Also get what should be 18 months of Cobra insurance.
Two weeks per year at minimum. Don’t sign anything and negotiate hard.
Regardless of how much $$ you get, ask for a year of health coverage for you (and family if you cover them).
I’ve written this before for other posts, so I’ll do my best to repeat it here.
You should not sign anything right away.
In a very professional letter you should outline everything you’ve done for the company, specifically outlining things that have worked to enhance the bottom line.
New business wins. Keeping clients happy thereby keeping revenue coming in. Be honest and be thorough.
Then submit that to human resources with a request for at least 6 to 8 months of severance. Aim higher if you want. You will not get what you ask for, but when the senior management, in particular anyone in a lawyer situation, sees your accomplishments and what you did for the company, they will immediately imagine what will happen if you were to sue for improper dismissal. That would cost them way more.
Perhaps they meet you halfway.
I’ve also been told that no company expects an employee to simply agree to severance offers. They are waiting for a counter offer every time. The problem is that nobody actually backs up their counter offer with anything that seems like actual professional reasoning.
I did this and I doubled my severance. Hopefully, it will work for you. You have nothing to lose!
13 weeks is not bad, but staying at a place for more than a decade shows loyalty that should be compensated above the simple math of somebody who’s only been there for say, 5 years. It’s a huge chunk of your career.
Good luck out there!
ps: severance counts as prorated income in NYS and delays UE benefits until said time as that income would cover, if it were given as weekly salary.
Thank you!!!
1 week is pretty standard at agencies. That’s what I got after a similar stint in senior position.
I’ve heard of people on the client side getting a month per year.
That’s standard for agencies. It’s absolute GARBAGE but that’s the norm. Brand side gives 1 month per year.
IPG only gives one week per year.
Pretty sure IPG gives two weeks for the first year, one week for the next bunch of years, then it goes up to two weeks per year after 15 years. Something like that.
Be happy you’re getting a week per year. There are people with your experience that just got two weeks and nothing else
It makes me mad and cynical. This industry is all about the people until things get tough. It’s no wonder talented people are leaving for the client side.
Is it usually capped at a certain amount of years... for example, 1 week per year up to 12years is paid regardless if you’ve worked 15 years
Yes-WPP totally caps it. It took a lawyer to get me 6 months
@edelman is right. People don’t realize they can negotiate an exit. Don’t sign anything.
Bowl Leader
I would add that you should see an employment attorney before you do anything else. They have a way of seeing the cracks in your employers offer.