Defaulting on sign on bonus

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Hello all!

Just curious if you have any information on defaulting on sign on bonuses. I have been at a hospital for just less than a year and a half after signing a two year sign on bonus. Due to many changes...both hospital and personal...I need to find another job. Have you any experiences with this?? I did get a heavty bonus. But among other things have been getting called off work quite frequently, at least 1 day every three weeks. Or put on call...which lets face it SUCKS... I am in Ohio and have heard we are a non binding state?? Have been looking on line and thought this is a good place to get sound advice.

I have started prn at a place I hope will turn to FT around the first of the year. I will not pass that up if it becomes available. repayment or not. I feel that being happy is more important than repaying the bonus. Please fill me in on anything you have to offer! QUICK!!! LOL!!!!

Thank ya

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Some hospitals will prorate it, most are not.

However, here is an easy way to make the decision:

You say you have been there 1 1/2 years, which leaves about 6 months left before you owe them nothing.

Ask yourself: If you left today, can you pay them back, in full, in 6 months or would you need to take out a loan, with interest that may take you 2 to 3 years to pay back?

Do you have this money in savings, right now?

If it will take you longer than 6 months to pay it back, I would stick it out and owe them nothing rather than gather a hardship on myself and risk getting sued and ruining my credit.

That's just me.

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Specializes in med/surg, telemetry, IV therapy, mgmt.

Call HR and ask the terms of the sign on bonus if you didn't sign a contract or they didn't give you a copy of the form you signed. Ask for a copy of anything you signed so you can read the terms that void the bonus. Most places divide the sign on bonus up and pay it out over a period of time because people do end up leaving or getting promoted which also causes a default.

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what did you agree to...if they defaulted their terms by placing you on call or giving you less hours than you had agreed to then they broke contract first and this would put you in the position to walk away

i don't know about ohio but it would seem that a signed contract is legal and binding as long as both sides knew in advance what was expected

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This is what I have been told. In Ohio, the fact that your employment there is not "binding" means that you may leave at any time and they may let you go at any time - it goes both ways. When you signed up for 2 years that was a separate thing regarding the sign on bonus. If it is like mine (which it may not be!) it's like they took out this loan in my name, gave me the check in full when I signed on, and now they pay the payments on the loan. If I leave the hospital, they simply transfer what is left on the payments to me. You should get statements every month/quarter/whatever showing that they have paid and how much is left. I always know what I would have to pay back if I left - and you just have to decide if that's worth it. But it would be better than paying it all back at once!

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Specializes in Flight, ER, Transport, ICU/Critical Care.

chatsdale and daytonite give you good notice.

Get that COPY of that AGREEMENT

CONTRACT/EMPLOYMENT Contract RULE - Words are nice, but they are just air - but when words are written you may have a prayer.

I know from experience that if they promise 20K sign on - there is a good reason why YOU will earn every penny.

Once you get the contract - then decide. Some issues over work are more important than money. :p

;)

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Specializes in LTC, Med/Surg, Peds, ICU, Tele.

Hey, just another perspective here....

I got a sign on bonus once. I was supposed to stay two years. It was a prorated one since I signed on for a two day a week position.

A year into my commitment I was able to down my hours due to one day a week, because I had hired on per diem at another facility. Then I just went to per diem.

No one in HR seemed to notice, I never got any word about it. I did 'officially' stay two years, but not at the hours that I had committed to.

The right hand sometimes doesn't know what the left hand is doing. I got to keep the whole bonus...:smokin::D

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