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back in 2021 President Biden called on the Federal Trade Commission to ban non-compete agreements but what is a non-compete and what does that mean for you your employer May mandate you to sign something called the non-compete which means you cant work at another competitor for a certain amount of time and you cant get paid during that time so for example if you had a three-month non-compete you would have to sit out not get paid and cannot start your new job until the three-month period is over and what that means is its a deterrent from you as an employee to make more money and to have another opportunity leaving your current firm and sometimes other firms dont want to wait so this is a huge deal especially in my industry in finance and in fintech when people have to sit out and are not able to go and make more money at another firm if it gets approved that means over 300 billion dollars in wage money could actually transfer into new roles
