How long does it take to receive severance pay?

The timeline for receiving severance pay is determined by the employer-employee agreement, with some companies opting for a single lump sum payment while others prefer incremental payments. These incremental payments are typically made on a weekly, bi-weekly, or monthly basis. A standard severance package usually includes one to two weeks of paid salary for each year of service. Upon receiving a severance pay offer, employees have 21 days to accept and then an additional seven days to reconsider their decision.