Golden Schemes which would make you legally rich, fast

(Last Updated On: 24/09/2012)

This is the sequel to Different Equity Compensation Plans you should know as an Employee and is happening all around us. Know the jargons to impress your colleague 🙂

Golden Handshake

Usually provided to top executives for loss employment through layoffs, firing or even retirement.

Why the term “handshake?”  Because handshake denotes a amiable separation, just like couple who goes on their separate ways based on one mutual decision.

golden handshake

Source: ChinaDaily

Golden Handcuffs

An incentive given to existing employees in hopes that they will decide to stay with the company, such as employee stock options.

Golden-HandcuffsSource: InsiderQuarterly.com

When you are handcuffed, you are basically imprisoned because it’s too tempting to just leave your vast employment benefits behind.

Golden Boot

An inducement, using maximum incentives and financial benefits, for an older worker to take ‘voluntary’ early retirement.

Not to be confused with Cristiano Ronaldo Golden Boot awards, it is used when company feel it is to costly to retain senior staff (the heavyweights) despite their experience and past contributions.

Voluntary Separation Scheme (VSS) anyone?

Golden Parachute

Lucrative benefits given to top executives in the event that a company is taken over by another firm, resulting in the loss of their jobs.

But more recently the term has been used to describe excessive CEO (and other executives) severance packages unrelated to change in ownership.  The benefits may include severance pay, cash bonuses, stock options, or other benefits.

golden-parachuteSource: FootNoted.com

Think Wall Street.

Golden Hello

The firm offering in the golden hello hopes the executive of the competing company will be persuaded to leave his or her existing employer and join the firm tendering the offer.

Think Intel & Altera Penang 🙂

Golden Life Jacket

An exceptional compensation package offered by the acquiring company to the top executives of the company being acquired. The “sweetened deal” serves as purpose to keep those key personnel interested in retaining their positions. Opposite of golden parachute.

If you fall under one or more of these golden schemes, do you consider yourself lucky or unlucky?

This Post Has 4 Comments

  1. Haha Kris, probably for VP level and above

  2. Just make sure got golden paycheck!!

  3. I like your optimism pal 🙂

  4. Look at it positively, it is a good news to me. 🙂

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