Sign-on Bonus Question - page 2

Hi All! I am a student nurse at the beginning of a two year program. My question is about sign-on bonus'. I have heard them called "sucker bonus' " and am wondering why? I know that if... Read More

  1. by   bagladyrn
    To see what that sign on bonus is really worth, take the number of hours you are obligated for (usualy 1 - 2 years worth) and divide it into that figure. It usually comes out to a dollar or two an hour more at most. Now ask yourself if you would be willing to take the job, with all the obligation and restrictions that go with the bonus if it were simply being offered at that wage, rather than a lump sum. If not, I wouldn't go there.
  2. by   EmeraldNYL
    Originally posted by bagladyrn
    To see what that sign on bonus is really worth, take the number of hours you are obligated for (usualy 1 - 2 years worth) and divide it into that figure. It usually comes out to a dollar or two an hour more at most. Now ask yourself if you would be willing to take the job, with all the obligation and restrictions that go with the bonus if it were simply being offered at that wage, rather than a lump sum. If not, I wouldn't go there.
    Wow, what a great way of thinking about that!! It seems like so much more money when you just say the dollar amount as opposed to how much it will be divided over the length of the committment. I accepted a position with a sign-on bonus, but I am going to be working there because I just really like the hospital. I turned down a larger sign on bonus elsewhere.
  3. by   MishlB
    Well, I don't have an obligation, and I didn't know about it until after I was hired. My benefots are great, and I am not temporary. Why does everyone get so negative? And I am not being a martyr, just expressing that ANY JOB that you take for the money alone, will leave you UNHAPPY....
  4. by   Chrislynn2003
    I was hired as a new grad to work in the OR. The job starts this September and I still have to sign the contract next month (Aug.)which states that I have to work in that hospital for 2 years or I will owe the hospital $5000 if I break the contract. No sign on bonus was mentioned though at the point of hiring, just a commitment to work for 2 years.

    Christine
  5. by   Chrislynn2003
    I forgot to mention that the benefits are great. I get free medical and dental insurance, so that is worth more to me than a sign on bonus. The starting pay is great too, so I don't really need a sign on bonus.

    Christine
  6. by   ainz
    To see what the sign-on bonus is really worth, look within yourself and what your needs, likes, and dislikes are. There is your answer.
  7. by   nursejanr
    Hello I agree with the sign on bonus it was a nice incintive and it was given by a large hospital you do have to agree with a year of employment and all other benifits stayed te same .
    It worked out for me and they even paid for relocation to the city after I decided to stay.

  8. by   Noney
    Christine

    Do not sign that contract. You should not owe money for quitting if you weren't given a sign on bonus to start.

    Maybe you misunderstood and there is a sign on bonus.
  9. by   babs_rn
    I had to pay back the portion of my bonus I had received when I could just not stand to continue at one hospital I had worked for. But here's the catch. The bonus had been tacked onto my paycheck which threw me into some tax bracket in outer space...the $1750 I received and had to pay back? I only got to see $900 of it in the first place!
  10. by   babs_rn
    Originally posted by Chrislynn2003
    I was hired as a new grad to work in the OR. The job starts this September and I still have to sign the contract next month (Aug.)which states that I have to work in that hospital for 2 years or I will owe the hospital $5000 if I break the contract. No sign on bonus was mentioned though at the point of hiring, just a commitment to work for 2 years.

    Christine
    WHAT THE...?!?!?!

    There is something SERIOUSLY wrong with THAT picture! Look into it NOW and as stated above, do NOT sign a contract with THOSE terms....that's way too expensive if it becomes unbearable for you to work there, or if your needs change and you can't take call or fulfill OR expectations or just change your mind once you get "in the mix".... I have NEVER heard of such a thing unless there's a bonus attached to it...and as stated above, don't expect to see but about half of that bonus after it's taxed....
  11. by   rncopper
    Yes, I have heard of the "$5000 for 2 years and if you quit you pay it back". It was usually associated with training a person in a speciality they were not proficient in. That included new grads or someone going into ICU from Med-surg. New employees, that is.

    So, yes, it is done. But I wouldn't do it!!
  12. by   caroladybelle
    In many places, OR nursing requires a contract because it requires very specialized and long orientation, especially if the nurse has never worked the OR before.
  13. by   Tilleycs
    So would anyone agree with, "If you'd work at the facility if there weren't a bonus, take the job and enjoy the bonus" being a good barometer?

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