New York-based Scotsman David Galbraith ponders the relative merits of being an employee in America and France. His ruminations struck a particular chord after I heard recently about a Citi exec of more than 20 years, who was fired with no warning or severance:

In the US being fired means no notice and being escorted off the premises with two months severance if you are lucky. If you are an executive with a history of litigation you normally get more from a board, because there is a risk the company will incur costs (I have been in board meeting this spineless immoral stance has been the attitude). It means that for a year or so you can pay to keep your healthcare. After that, you are pretty much screwed.

In France you will get 3 months warning, and 2 years (23 months) at 60 – 70 % of your salary up to $90K. Your pension will continue to be paid and you will get free healthcare. And after 2 years the healthcare will continue and you will not starve. You will not have mortgage payments which are more than 3 times your previous salary, because that is illegal and you will be in a minority if you use a credit rather than a debit card. You will not need to get into debt to get a credit score, and you won’t have much of a student loan. The very best schools (Henry IV) are free and so is university (although the universities are sub par compared to the Grand Ecoles or places like INSEAD).

For the downside, read on here.