a golden handshake a sum of money paid by an employer to a retiring or redundant employee.

☞ On the same principle, the phrase a golden hello was coined in the late 20th century. It is explained in an Appointments section of the New Scientist in 1998: 'Employers…especially in the financial sector, are offering “golden hellos". These are advances of up to £2000, sometimes given on acceptance of a job offer or with the first month's salary.'