Did any new grads receive sign-on bonuses?

Published

Specializes in ortho.

Hello. I will be graduating in May (yeah!) and there has been discussion about previous grads that have received sign-on bonuses. Can anyone tell me if that has happened to them? I don't know if I should hold out for a bonus because I have racked up some bills being in college and that would help out greatly.

Up Vote Up Vote ×

Hi,

I just gradutated in Dec. '06. I live in the New Orleans area and some of the hospitals are offering sign-on bonuses. The one I decided to work for offered a $1500 sign-on bonus that is paid after 3 months, but you have to stay there one year or pay the $1500 back and they also have a loan repayment program that pays up to $500/month up to $30,000. A hospital that my friend went to has a $2000 sign on bonus you get $1000 after 3 months and the other $1000 after you complete one year. If you don't stay the year you don't get the second $1000, but you don't have to pay back the other money, they didn't have a loan repayment, but they offer you to go back to school for a higher degree at their university for free. So look around before deciding. And don't forget to factor in the facility itself and if they have a high turnover, because if they do there must be a reason why.

Good luck and congradulations.:balloons:

Up Vote Up Vote ×
Specializes in NICU, High-Risk L&D, IBCLC.

It will really depend on your location. Hospitals in various counties of southern California are offering sign-on bonuses ranging from zero to $10,000. I was offered $7,500. :monkeydance:

Up Vote Up Vote ×
Specializes in Psych, substance abuse, MR-DD.

None for me:(

Up Vote Up Vote ×

I didn't get a sign on bonus either. I work at a Boston hospital. Not sure if many of them do.

Up Vote Up Vote ×

None for me either. I work at an Austin, Texas Hospital.:scrying:

Up Vote Up Vote ×
Specializes in Med-Surg, Tele, Psych.

My sign on bonus was in the form of a scholarship because my school was associated with the hospital. I received $10,000 paid directly to the school for tuition for nursing classes only (GE and pre-req credits were my responsibility). Each full semester (total of 4 - didn't include summer or Intro to Nursing) I received a $500 stipend (so $2000 cash in hand). The catch was that I sign a contract to work in the hospital for one year as an RN. If a student failed, or chose not to continue, they were obligated to pay the money back. Students and other new grads/RNs that opted not to do the scholarship but chose to work at the hospital were offered this $10,000 as a sign-on bonus. They had to sign a one year contract also, and the money I think is spaced out over 3-6 months and it is taxed. I was more than happy to ease my financial burden for $10,000 tax free and if the hospital was unable to place me, I wouldn't have to pay the money back. I did most of my clinicals in this hospital and to top it off, the school is inside the hospital, so I'm familiar with the staff, the documentation, the computer programs, etc. and hope it will be a great transition from school to my first year as an RN (starting Monday). I consider it a win-win.

Up Vote Up Vote ×
Specializes in ED, Cardiology.

$5,000 New Graduate Bonus , this is in omaha Nebraska

  • $2,500 after 6 months
  • $2,500 after one year RN service

$10,000 Nursing Tuition Repayment Program

  • $2,000 payable after the second, third, and fourth year of RN service
  • $4,000 payable after the fifth year of RN service

Salary: $18.71 per hour Minimum Salary (plus consideration for CNA/LPN experience)

  • Differentials: 9% weekend 15% third shift

Reimbursement of NCLEX Review Class after Passing Boards

  • submit receipt to HR for reimbursement (up to $300)

Up Vote Up Vote ×

Awalke13965, what hospital do you work at in NO?

Up Vote Up Vote ×
Specializes in Rural Health.

I didn't get a sign on bonus and I didn't want one because I had a horrible, terrifying experience with a facility that was offering $10,000 to RN's (worked there as a tech during NS). I quickly found out that $10K was hush money for what really went on there and they locked you into a contract that took a team of 50 lawyers to get you out of. They were sneaky little birds that's for sure.

Pick your place based on your needs - if you get a sign on bonus (or tuition payback...however they phrase it) then great - but if not - that's OK too because you might get other perks instead. I didn't get a sign on bonus, but I get $3000 a year for tuition reimbursement to get my BSN and it requires NO comittement. Plus my health insurance rocks and it's way cheap for my entire family.

Up Vote Up Vote ×
Specializes in Psych, substance abuse, MR-DD.
Pick your place based on your needs - if you get a sign on bonus (or tuition payback...however they phrase it) then great - but if not - that's OK too because you might get other perks instead. I didn't get a sign on bonus, but I get $3000 a year for tuition reimbursement to get my BSN and it requires NO comittement. Plus my health insurance rocks and it's way cheap for my entire family.

Very true. And sign on bonuses sound great, but often times you get so ripped off by taxes that it doesn't really make it worth it. My friend got a $3000 bonus, but after taxes it was less than $1500. Insurance, differentials, and other added benefits really make an impact!

Up Vote Up Vote ×

I graduated in December 2006 and got a $1000 sign on bonus plus $12,000 for a 2 year night shift commitment... pretty sweet!

Up Vote Up Vote ×
+ Join the Discussion