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Company is ruining my life by preventing me from working elsewhere. BEWARE of non-compete before signing

Engineer
Former Employee
Worked at DRW for 2 years
February 14, 2023
1.0
Doesn't RecommendNeutral OutlookNo CEO Opinion
Pros

The work can be interesting.

Cons

This company is attempting to ruin my life due to their non-compete agreement. I am currently going through the legal process of having to take them to court, and am also in touch with the media to bring light to the situation. I did not operate as a trader or have access to trading information at any time, yet I am barred for an entire year from working at any financial organization in any capacity. The company applies a blanket clause to the entire financial industry within their unpaid non-compete agreement. This means that upon leaving the firm, you will be barred from working in finance in all capacities, be it a software provider, bank, trading firm, or anything remotely related to finance that you can think of. I will stress again, this is unpaid and fully enforced by DRW. You will not work in finance and the firm will not pay you for this time of which you are barred. I have attempted to negotiate with the firm, asking for some form of payment during these ridiculous clauses, yet they refuse and simply state, "Tough luck, you signed the contract, we don't legally have to pay you." The firm will also ask you to provide full details and a job spec of any job you wish to go to. If you are thinking of joining this firm, read these words carefully, as I would not wish this awful situation on anyone. Negotiate the non-compete and ensure it is paid, otherwise you will find yourself in a difficult and expensive situation. As a side note, you will also be required to work multiple weekends, which you will not be paid for.

Advice to Management

Do not impose broad restrictive covenants on your employees, preventing them from furthering their careers or continuing with a life outside of DRW.

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