I got a new job and need to join mid February before the bonus is paid out. Folks please help what are my options, can I join the company and take two weeks PTO. Get my bonus and peace out without the notice. I am licensed in my current role at TIAA, but the new employer will not be holding my licenses.
The new employer is not flexible with the joining date.
i believe you are on the right path to get y’all paper right
If you are in Denver, under the Colorado state law. Bonuses paid out which are determined by last years performance are accrued like PTO (even if discretionary)… if TIAA does not pay out your bonus you can file a claim with the Colorado wage act.
● The Colorado Wage Act (“Wage Act”) requires employers to pay employees the wages and other compensation they earn. That includes bonuses and commissions that employees earn under agreements with their employers. Scenario 11 is what applies to us
Employees other than senior executives, non-compete clauses are a violation of section 5 of the Federal Trade Commission Act and are not enforceable.
Congrats on the new role. Just call out on a fake medical incident. Then when the CREFmas money hits your account….. BOUNCE. I’m just saying be realistic, your manager might care about you but the organization doesn’t. No large organization does. Not faulting TIAA just saying corporate doesn’t care about your plight so u should look out for yourself. However, the better option is just hit up the new employer and just tell them the deal. I would think they’d give you grace especially just onboarding a month later.
That is absolute bullsh-t you have to give 30 day notice in a client facing role. Nor do you need to give a copy of TIAA non-compete.
If the amount of your bonus will affect your decision of staying or going, then they own you.
If you are in a client facing role you have to give 30 days notice and provide the new company with TIAA's non-compete disclosure. You have to ask HR for a copy of this, it will then need to be reviewed by your new employer's legal department. Unfortunately when licensed you must follow the process. I was honest with my manager about leaving but I wasn't banking on a bonus. I was more worried about job security than waiting until March 1st.
you are going to get ur bonus as long as u r joining Accenture. Even if you resign on the day after joining.
Do not miss out on your bonus with two weeks to go that is insane. You have to negotiate with your new employer. why would you put yourself in that position. I hope they have a far better comp structure to give up $$
Thanks everyone who chimed in. I have my FINRA licenses and the company I will be working for is a retirement provider as well. It looks like I might have to miss out on my bonus and move forward.
There is no way I could be employed at both places at the same time, even for just two weeks.
Take your PTO and say you will be out of the country. Then resign March 1. Do not jeopardize new job and do not lose that bonus!
Maybe I’m just risk averse so take this with a grain of salt. Worst case scenario is: TIAA finds out you took another job while employed here and because it’s not pre-approved, they claw back your bonus since you violated your CNA. If you’re going to another financial services company (one that TIAA views as a competitor) I’d be worried about legal consequences (assuming you have access to sensitive client data). Also your new company may have policies around this as well so you could get fired if they find out. The likelihood of any of these scenarios playing out- i have no idea.
Why not just be up front with your new company and ask for a sign on bonus to cover your TIAA bonus? It’s quite common. If they say no to that, maybe theyll be more lenient on your start date
Definitely do not tell anyone or put in notice before that money hits your bank account.
You should have negotiated a sign on bonus at the new company equal to your TIAA bonus.
If you have FINRA licenses you need to report your OBA (since you will have a new job and still be employed by TIAA). TIAA will find out then.
Either way, tread carefully.
I would think if you have PTO then just take it, then call out on your last day? What're they gonna do, fire you when you already quit??? LOL, congrats on fleeing the circus and good luck and never look back. 👍.