General
golden handshake
What does golden handshake mean?
A substantial severance payment or benefits package given to an employee, often a senior one, on leaving or retiring, typically as a reward or to smooth a departure.
"The long-serving director retired with a golden handshake that set him up for life."
Origin
Business idiom coined in the 1960s, part of the 'golden' compensation family.
Frequently asked questions
What is a golden handshake?
It's a large severance payment or benefits package given to an employee, often a senior one, when they leave or retire.
Who usually gets a golden handshake?
It's most often given to senior executives or long-serving staff as a reward or to smooth their departure.
How is a golden handshake different from a golden parachute?
A golden handshake is a payout on departure or retirement, while a golden parachute specifically protects executives if they lose their job after a takeover.
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