How much money should I get for my compromise agreement?

monacoalex | 17:35 Thu 18th Mar 2010 | Civil

13 Answers

Money owed to deceased person

Father in laws will.

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bednobs

one hundred million dollars

buildersmate

It depends.
How many years' continuous service do you have?

lardhelmet

What sort of compromise did you have to make?

BertiWooster

Do you think some people just post questions like this deleberately or do they think that we are mind readers ?

factor-fiction

There has been a big increase in postings from people who don't know how how to post a question properly (often putting the full question in the title box and nothing in the question box, or entering a title when they meant to do a search.)

lardhelmet

Perhaps you should be forced to read the instruction manual before you can register

factor-fiction

Another example tonight: http://www.theanswerb...s/Question874223.html

buildersmate

Sorry chaps. Anyone who would know an answer to this question wouldn't need to ask what a Compromise Agreement is.

monacoalex

Question Author

Generally, I’d say 3 months’ salary would be a good amount. After all, you wont have to work for three 3 months to get it. Plus its tax free, so its more like getting 4 month’s wages. For some reason the popular perception is that people are entitled to more that they really are: 6 months’ money would be quite unusual.

Broadly speaking, the amount you should ask for depends on why you are leaving your job. This sliding scale correlates with what an employment tribunal would award you if successful after a claim.

If you are genuinely being made redundant, you would expect a fairly small payment, because the statutory redundancy entitlement is low. If you are being unfairly dismissed you would expect a bit more money; because a tribunal would award you an amount of money equivalent to your salary, until you found another job (up to around 6 months). If you have been discriminated against, and/or psychologically injured, then you would expect a relatively large pay out. This is because a tribunal would award you compensation as per unfair dismissal, plus compensation for the injuries suffered.

The best way to use employment tribunal claims is as a negotiating tool. You can hint at them, or even start them, and then get round the negotiating table with your employer and do a deal.

Compromise agreements are a great invention. They save a lot of stress, hassle and money, and then you end up with a wodge of tax free cash. So wade in there, do some tough negotiating, and hammer out a deal. Compromise Agreements Limited is a specialist company whose website at [EDITED] has a lot of useful information.