Seventh post in the series, New York Employees: What Your Employer Knows and You Should Learn Now

We Know You’re Unhappy But Don’t Quit Before You Get Legal Advice. Most employers view severance pay as compensation for employees who are involuntarily terminated.  If you quit, your employer will have little incentive to provide you with severance.  You will also likely lose your entitlement to unemployment benefits (with some exceptions).  If you have a legal claim for, by way of example racial discrimination, and you want to recover lost income for your period of unemployment, that goal will be much more difficult to accomplish if you resigned.  Under some circumstances, especially if you are a FINRA registered representative, resigning before you get fired might be a safer course of action, but consult an employment attorney before you make this decision.