Unemployment benefits for first year b-school students?

Question

Surely I can't be the first person to take this into consideration, but I will be the bold one and ask.

My company knows I'm out next week and has prepared all the necessary documentation; notice of release/resignation, pension transfer, and an unemployment benefits package.

My supervisor is recommending that I apply for unemployment benefits. He also claims that I'm eligible for 60~80% of my annual salary for the next 12 months.

Financially, that would be extremely helpful, but I don't know if it's morally acceptable. From what I understand, unemployment benefits, even from a foreign country, exist to assist those who are actively seeking to reengage back into the workforce - of course, something I'm also eagerly trying to do.

pelihu · Answer

I don't know much about unemployment benefits, but I think you are correct in that you are eligible only if you are looking for a job. If you don't find a job within a certain amount of time, I believe they may require you to attend some kind of trade school (I don't think business school counts

). I guess it wouldn't hurt to get more information about it though.

riverripper · Answer

From what I know you can only collect unemployment if you were laidoff or fired. If you resign from you job you can't collect. This is because employers pay the unemployment tax and if they lay people off or fire them then the amounts the company has to pay goes up. Also you have to qualify for it and chances are if you say well I am going to grad school they aren't going to give you a cent. 

I don't know if this is different for other countries but chances are that you arent going to collect if you are living in another country.

nupurgupt · Answer

hey matt,

this is unrelated to your question, but i have read your posts and find them extremely inspiring.

moreover, your insights (esp in SC) have helped me in my gmat preparation all along. thank you so much

also, sorry i am not a regular like you so i'm not sure, where are you finally going to grad school?

rhyme · Answer

In the US, you have to be fired to collect unemployment...

swgotz · Answer

Actually if you quit due to a spouses job relocation you're eligible for unemployment benefits...at least in NY.

Active students aren't eligible since they don't consider you available for immediate employment.

aaudetat · Answer

Look what the cat dragged in! Long time no post! How goes it?

GMATT73 · Answer

Yeah, the CAT does seem to cough up the occasional hairball. :-D

What's new swgotz?

swgotz · Answer

Keeping busy, catching up on lots of reading...heading off to Oxford on September 19th and school starts up October 1st.

GMATT73 · Answer

That's a really late start. When do you finish next summer?

swgotz · Answer

Yeah, it's a late start, they are on the trimester system @ Oxford so the dates are a bit weird. We don't finish until the end of June.

GMATT73 · Answer

You'll be starting with p_s_dahiya. He's an old time GMATClubber as well.

Unemployment benefits for first year b-school students?

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