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Typical severance package for middle to upper middle management

Posted on 9/26/16 at 1:23 pm
Posted by Jim Rockford
Member since May 2011
98184 posts
Posted on 9/26/16 at 1:23 pm
Having never worked for a corporation, I have no frame of reference for this. A guy I know got laid off late last year from a pipeline company and is still out of work. He doesn't seem to be trying very hard to find a job, but maybe he's still living off his severance. It would be awkward to ask him "shouldn't you be out looking for work?" So I'm asking the all-knowing OT.
This post was edited on 9/26/16 at 1:27 pm
Posted by C
Houston
Member since Dec 2007
27824 posts
Posted on 9/26/16 at 1:25 pm to
3-6 months
Posted by Mo Jeaux
Member since Aug 2008
58704 posts
Posted on 9/26/16 at 1:25 pm to
"Typical" is generally one month for every year worked at the company. I put "typical" in quotes because there isn't really any typical package.
Posted by kywildcatfanone
Wildcat Country!
Member since Oct 2012
119131 posts
Posted on 9/26/16 at 1:26 pm to
Most large companies I've worked for average 1 week for every year of service up to 6 months pay.
Posted by Spankum
Miss-sippi
Member since Jan 2007
56028 posts
Posted on 9/26/16 at 1:28 pm to
those that I have seen typically are one month's pay for every year worked. for front lines folks they typically do something like 6 months pay.
Posted by Hermit Crab
Under the Sea
Member since Nov 2008
7166 posts
Posted on 9/26/16 at 1:29 pm to
places I have worked has been 2 months plus 1 week for every year worked. people higher up get extra months based on seniority.
Posted by Displaced
Member since Dec 2011
32711 posts
Posted on 9/26/16 at 1:29 pm to
I think one week per year is pretty standard. I think that is what government uses.
Posted by Bob Sacamano
Houston, TX
Member since Oct 2008
5277 posts
Posted on 9/26/16 at 1:29 pm to
The company I work for does not do much so it varies greatly.
Posted by Hawkeye95
Member since Dec 2013
20293 posts
Posted on 9/26/16 at 1:31 pm to
quote:

"Typical" is generally one month for every year worked at the company. I put "typical" in quotes because there isn't really any typical package.


those days are long gone. Now you might get a week or two weeks per year. if you are senior enough, they will probably put your severance package in your employment contract. But you probably need to be higher than upper middle management.

my company is doing something fun. they tell you are laid off in 60 days. its to avoid reporting rules associated with WARN. It works for some people, but most people hate it.
Posted by buzwa
Member since Sep 2006
2467 posts
Posted on 9/26/16 at 1:32 pm to
The most common is 1 week per year as others have said. My company goes up to 13 weeks.
Posted by member12
Bob's Country Bunker
Member since May 2008
32096 posts
Posted on 9/26/16 at 1:33 pm to
In 2009, my company offered engineers 2 weeks for every year of service, plus they'd pay them for their unused vacation and sick days for the current year.

I'm sure the higher ups they sacked got much better deals.
Posted by MMauler
Member since Jun 2013
19216 posts
Posted on 9/26/16 at 1:33 pm to
quote:

Most large companies I've worked for average 1 week for every year of service up to 6 months pay.


My company gives 4 weeks for every year up to 13 months if you are laid off. If you are fired, you get half that.
Posted by stelly1025
Lafayette
Member since May 2012
8510 posts
Posted on 9/26/16 at 1:34 pm to
Had a cousin a while back get laid off at Haliburton and was given 4 months. I would think it varies from place to place... Also what is his financial status? Home paid for minimal expenses? Did he set himself up to not have to just take any job? I saved for when I left the Army to live for about a year before having to find a job. He could be good with his finances...
This post was edited on 9/26/16 at 1:39 pm
Posted by bleeng
The Woodlands
Member since Apr 2013
4066 posts
Posted on 9/26/16 at 1:48 pm to
I got 1 week per year (12 weeks) + 4 weeks severance after getting laid off 2 years ago. I also got to keep my health benefits for those 16 weeks.

Middle management type job with no direct reports.
Posted by NimbleCat
Member since Jan 2007
8802 posts
Posted on 9/26/16 at 1:54 pm to
I've seen 2 weeks for every year of service. SLB
Posted by The Torch
DFW The Dub
Member since Aug 2014
19289 posts
Posted on 9/26/16 at 1:59 pm to
3 months pay plus vacation days paid


This is what I got back in the Financial crisis.
Posted by CoachDon
Louisville
Member since Sep 2014
12409 posts
Posted on 9/26/16 at 2:17 pm to
3 MONTHS PAY, 30 DAYS INSURANCE.
Posted by theCrusher
Slidell
Member since Nov 2007
1132 posts
Posted on 9/26/16 at 2:25 pm to
I've always negotiated this in the employment agreement. Wave the non compete, pay 'x' within 15 days and pay cobra for 6 months. I've always managed to get 6 months to a year severance concession.

This is one of those things that most people don't think to negotiate.
Posted by soccerfüt
Location: A Series of Tubes
Member since May 2013
65677 posts
Posted on 9/26/16 at 2:30 pm to
quote:

3 MONTHS PAY, 30 DAYS INSURANCE.
This is rather spartan, traditionally many companies are more generous. It varies with the industry and size of the firm.
Posted by LakeBreauxPre
Chicago
Member since Jul 2016
80 posts
Posted on 9/26/16 at 2:35 pm to
Not middle to upper management. But as an entry level employee I received two severance packages of about 2-3 months salary each. With around 30-60 days of health benefits.

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