What To Expect In A Severance Package

Typically companies are offering 2–4 weeks pay per year of service, with a "must stay until" date specified.

Executives are usually offered 1-2 years pay regardless of years of service.

Base salary is the typically the only factor used.

Outplacement services are generally offered to executives and offered about half the time to managers and non-exempt employees. These services are generally able to be negotiated in to a severance package offer.

Healthcare extensions are typically offered at the executive level only.

If you receive a severance offer make sure it is a written agreement and have your attorney approve/amend it for you. Some packages contain clauses that may not be in your best interests long term, but sound great now. Watch out for moveable termination dates, unemployment issues and reductions in severance pay if a job is secured before termination date.