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Should You Take a Buyout at Work?
Advisers say workers should weigh taxes, lost benefits and unemployment rules before accepting a buyout, and some offers can be negotiated.
- Microsoft and NPR recently announced buyout offers, joining a trend affecting diverse employers including the Salt Lake City Public Library and North Dakota state workers.
- Jeff Judge, a certified financial planner with Chesapeake Financial Planners, warns a $60,000 severance package can evaporate quickly when replacing benefits out of pocket.
- Scott Bishop, a CFP with Presidio Wealth Partners, recommends maintaining at least three months of living expenses in an emergency fund before considering a buyout offer.
- Rich Hofmann, a CPA and CFO of Neil Jesani Tax Advisors, suggests negotiating for career placement services or modifications to non-compete agreements already signed.
- Gene Camm, managing director of compensation resources at EisnerAmper, notes staying employed simplifies finding new work, making a buyout an exit ramp to align with broader career plans.
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Should You Take a Buyout at Work?
Imagine if your company offered you six months’ worth of salary if you quit your job right now. Would you go? What if they threw in early stock vesting and health insurance for a year? It’s a tough decision that…
·Chariton, United States
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Total News Sources34
Leaning Left2Leaning Right9Center13Last UpdatedBias Distribution54% Center
Bias Distribution
- 54% of the sources are Center
54% Center
C 54%
R 38%
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