Diamonds are forever

Big Bank version….
1. You have an employment contract with a long notice period ( eg I year at least preferably longer). You resign and offer to carry on working for the year. The big bank need you to go like NOW so they pay you a years salary up front

2. Your bonus is almost certainly contractual  so you get it as well. Whether you are rubbish or not.

3.  You will have a web of share options, pension funds and LTPS ( long term profit share schemes) which are all contractual and must pay out. Handsomely.

4. You negotiate your leaving deal (using smart city lawyers) with the other directors who are your mates and slightly in awe of you and if they don’t say yes to everything you ask for you will stay. Which can’t happen because you’ve got to go. And nobody has the xxxxx to fire you for incompetence.

5. When everything has died down you get a few city directorships for a few hundred thousand a year to help support you extravagant lifestyle.

Small Business reality version….

1.  You get your share of the business.
2.  The business borrows to pay this off over several years
3.  That’s it

Actually I think I’m glad I live in the small business world. It seems a lot more moral than the big business one.

Margaret

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