What is an average severance pay package?

Question

I understand it is not the law or always offered but what is typical?

Answer 1

Unless you specifically have or had it noted in your contract for employment, severance will be limited to whatever benefit package you had and had not used....accumulated vacation hours or sick leave pay plus your last regular pay check.

If you play in the corporate world those severance packages are spelled out when you were hired.

Answer 2

Average Severance Package

Answer 3

Average Severance Pay

Answer 4

Usually, if they don't give you notice, you'll get at least two weeks of pay in lieu of notice. Though, they don't legally have to do this. During this period you can not collect unemployment in most states. Then, generally one week for each FULL year of service. You'll usually need to sign a release for this pay. Though, again, they don't legally have to do this, either. In many states, any time that you have to sign a General Release in order to receive the payment, you can also collect unemployment during that time period.

In most states they have to pay out any accrued vacation. However, you will NOT be entitled to unused sick pay.

Alas, "at will" means just that. They can let you go, or you can quit, at any time, no strings attached.

Good luck!

Answer 5

If given at all, it is usually between 2 and 4 weeks pay.

Answer 6

Usually, I have heard it to be two weeks pay. I think it really depends upon the type of job and how high you ranked in the company.

Good luck =)

Answer 7

USUALLY it 2 weeks, but, they don't have to do anything. Most of us are AT WILL employees, which means we can be fired just because.

Answer 8

Usually, none. You can be fired or laid off, and the employer only owes you for the days you worked.

Answer 9

2 weeks is normal but i have sceen people get a months pay if there good employees or where good employees

Answer 10

2 weeks worth of work.