Did You Get A Sign On Bonus?

elsrock · Jul 25, 2005

The hospital I will be working for (start date is Sept 6th) offers a retention bonus. If you are willing to commit to two years of working for them in med/surg you get 5,000 after the first year and 7,000 after the second year. The hospital is a Magnet hospital and I know people who work there and absolutely love it. I didn't neccessarily look for a hospital based on sign-on/retention bonuses, but the extra money with one kid and another on the way is certainly going to help. So I'll take what I can get. :)

Erin, RN

Denham0607 · Jul 25, 2005

I live about 40 miles northeast of Atlanta. My classmates are dispersed all around Atlanta from rural to downtown. No body was offering sign on bonuses for new grads. Except on hospital, which no one wanted to work for. In fact, many hospitals still require a commitment and if you break the commitment than you are out of money. These same hospitals are however offering large bonuses for resigning after the original contract is up.

atlanta · Jul 25, 2005

The higher the bonus, the worse the working conditions typically.

I totally agree! I know a place that offer 10,000 sign-on bonus... but I know that I am not going there... I was there as a tech and I know how crazy it is.

tntrn, ASN, RN · Jul 26, 2005

There's a reason why hospitals are offering such large sign-on bonuses to NEW grads! Yikes! Why do they have to do that? I'd bet your big bonuses it's because they have horrible working conditions, inexperienced staff (like you're going to be if you take that bonus) and offer no retention incentives to seasoned and loyal employees. That's what employers just don't seem to understand: retention. They whine about it; make noise about how much they appreciate you, but in the end, they do squat to keep the 10 year and 15 year and 20 year nurses happy. And thus, they are groveling at the feet of new grads. I'd be afraid, very afraid. If you have no old-timers there, your learning experience is called sink or swim.

Geeg · Jul 27, 2005

Beware of bonuses. Read the fine print. If you don't work the specified amt of time, you will be required to pay the $$ back and sometimes at very high interest rates!!

charlies · Jul 28, 2005

i think sign on bonuses are a recruiters ploy. accept them and lose bargaining power down the road.

GigLs2u · Jul 28, 2005

I have heard of sign on bonuses of $10,000-15,000 in Texas. These are in the Rio Grande Valley of Texas. They don't mention it in their advertisements but to survive you need a good handle on Spanish. Tu habla espanol?

It is a very rural area, in the hottest part of the state because it is so far south and along the Mexico border. In addition, they are speciality areas like ICU, ER, and OR. Dallas and Houston are more than 8 hours away. San Antonio or Corpus Christi, more nationally recognized cities, are about 4 hours away.

The best part is South Padre is about 1.5 hour drive from Mc Allen. I met a home health nurse who loves it there.

Ya, I just started at my new job and I get $2,000. I have heard of places in the area giving as much as $12,000. That is scary! What are they doing to drive off that many employees to give bribes! lol :chuckle

jsteine1 · Jul 28, 2005

Sign on bonuses are indeed a recruiting technique with a number of often invisible strings attached. Here are some real life scenarios:

1. Sign ons are offered to both new grads and experienced nurses in difficult to place positions or geography.

2. The higher the sign-on, typically the longer that position has remained open or is an indicator of how frequent the turnover.

3. If a sign-on is very high, 5-10k, they is generally a retention component built in, IE, that bonus is paid out quarterly over a 12-24 month period of time. They are rarely paid up front in a lump sum.

4. If you are getting relocation assistance AND a sign on, the likelihood of you also being offered the maximum of the pay scale for your position or experience level is extremely unlikely.

5. While, legally, no can be forced to sign a contract to work for a specified period of time in exchange for the perks, there is generally a sign-on agreement specifying the amount paid each quarter. There is often a clause indicating that, for example, if you should leave shortly after you receive the first quarter's payment, you must pay it back.

6.All of these arrangements are contingent apon acceptable performance throughout the specified employment period.

7. School loan payoff support is another recruiting technique.

A relationship with an employer is just that. You give them your expertise and experience, they compensate you in a way that will hopefully end up a win-win situation.

A "tip" should you accept a sign on or relo deal, remember its taxable income. Negotiate it upward to cover the taxation so that you indeed realize the entire amount.

JudithL_in_NH · Jul 28, 2005

$2K for new grads at one of two hospitals in the biggest city in NH. The other hospital does not offer sign-on bonuses.

Personally, I would have preferred a higher starting wage, and tried to negotiate that in lieu of the bonus--but no go--starting wage and bonus are a "package" for all new grads. (Several friends work there and also tried to negotiate for a higher base rate--no go for them either.)

Bonus is paid out over 6 months. Commitment is for one year. Good hospital, I've already worked there x2 years as a US, so I don't feel they're hiding anything--just locking you into a lower base rate.

I told HR that it's a sad thing if I feel compelled to leave after a year or two, just to be able to get a buck or two more an hour :-(

DCaillouet · Aug 5, 2005

give recruitment bonuses. $2500 to anyone who brings an experienced RN into the facility. WE have a very unique culture and think that our staff knows who would fit in better than anyone else. We actually have only 2 open FTE's in the entire nursing division. Wonder why?

outkastinme · Aug 5, 2005

I live in the Montgomery, AL area and I've heard on the radio (yep, the radio!) that Baptist Hospital is offering higher wages (FINALLY!!), a sign on bonus, as well as a loyalty bonus. I have no idea how much any of it is, but it's a good incentive for new recruits IMO.

kloscar · Aug 5, 2005

I would think it would be hard to compare, because if you are offered a sign on bonus, maybe the pay may be a little less, or vise versa. A large sign on bonus is tempting, but like the others said, there is a reason (for everything). Also, young graduates with stars in their eyes see the figures and get excited, but it is spread out over several payments.... you don't get $5000 bucks plopped into your sweaty little palm the first day on the job for nothing. Wake up peeps, it is nice but means nothing in the long run unless you would want to work there regardless of the bonus. And ALWAYS remember, "Don't believe everything you hear" and "If it sounds too good to be true, it probably is". Not being negative here, just mature enough to laugh at the naive.

I go to a program in Pittsburgh, PA. The UPMC system is huge, and I signed a 2 yr. contract with them, and they paid for my education. I am also eligiable for and additional bonus upon hire. The bonus is $4,000, all at once for 1 additional year on a high needs unit, or 2 years on a regular unit. The only catch is, if I leave the UPMC system before my contract is up, I owe all of the money back (bonus plus education). I am going to take the sign on, because the system is so big, and I can transfer throughout it during my contract with out owing any money back.