Extremely tempted by large sign on bonus

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

I just checked the website of a hospital where I used to work, and they are offering a $12,500 sign on bonus for a 2 year commitment. This hospital is one hour away from our home. They are opening up a progressive care unit, that would be just up my alley. They even have part time day positions, just what I'd want.

Even if the bonus were pro-rated, it's still tempting. We were thinking of moving closer in the that direction soon. I currently work around a half hour away from home. If I don't get that diabetic educator job, I'm going to seriously consider it. I feel like I'm in a rut and I need a change.

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Do you remember why you left in the first place? Was it a really great place to work? Sometimes the work environment is so bad you understand why they are offering the sign on bonus. I worked in a large hospital in Dallas and could only stay 6 months which caused me to give up the rest of my bonus since I had to stay a year. It just wan't worth it. There are some jobs that pay good but it doesn't mean they are good jobs. Santababy52:o

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Specializes in ED, ICU, PACU.
Do you remember why you left in the first place? Was it a really great place to work? Sometimes the work environment is so bad you understand why they are offering the sign on bonus. I worked in a large hospital in Dallas and could only stay 6 months which caused me to give up the rest of my bonus since I had to stay a year. It just wan't worth it. There are some jobs that pay good but it doesn't mean they are good jobs. Santababy52:o

I agree with you 100%. I also left a large Dallas hospital after a few months, giving up most of my bonus. Wonder if we went to the same place. Another thing to consider is that what appears to be a large bonus usually winds up to be a lot less in actual take home pay (it's taxed at a higher rate-think they took out at least 20% more). It might be worth it to see if you could work out a higher hourly rate, factoring in what that bonus would be spread out hourly.

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Specializes in ER/Trauma.
I agree with you 100%. I also left a large Dallas hospital after a few months, giving up most of my bonus. Wonder if we went to the same place. Another thing to consider is that what appears to be a large bonus usually winds up to be a lot less in actual take home pay (it's taxed at a higher rate-think they took out at least 20% more). It might be worth it to see if you could work out a higher hourly rate, factoring in what that bonus would be spread out hourly.

Gosh, I work at a large Dallas hospital... wonder if it's the same place? =)

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Ask yourself "Why are they offering this bonus?" Places that are terrific to work for and have a low turnover rate usually do not need to offer sign-on bonuses. And to have such a large bonus for PCU? Makes me suspicious that things are not happy there and they can't get and/or keep staff. If you learn nothing else through the course of your nursing career remember this: MONEY IS NOT EVERYTHING! If they are offering big bucks, chances are more likely that this is not a place that you want to work for very long. And a two year commitment - that's a long time that can feel like a lifetime when things are going down the toilet at a job!

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

I have several friends at this hospital who say things are going pretty well. I left that hospital to work closer to home.

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Specializes in ICU, ER, EP,.

do what I do, just call the progressive care unit at an assumed non busy hour and ask to talk to a nurse, tell "her" you're interested in working there, ask for the good, the bad and the ugly. Then call two more times at different shifts.. this is how we week out the "bad" places to work our OT.

A progressive unit is usually known as a very challenging and hard working unit. Usually 4 patients, sometimes vents, trachs, drips, total care, wounds, LONG TERM acute care. It can be a challenge. It's where I started... 4 vents, total care with dopamine, cardizem, on and on... I learned so much, never sat and worked my orifice off the the experience to get into critical care. Ask about the patient population.

It's really not about the $$, I only worked it to get into critical care, hindsight, you couldn't have paid me to stay there more than a year. I hope this is different and what you really want. One month in, the bonus is not worth it, period. So be careful and CALL.

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

According to a friend of mine, this unit is not opened up yet. The hospital is trying to get everything in place to open it up. I have emailed the woman in HR regarding it. I left this hospital on very good terms and have connections there, so I would most definately be well received. I'm going to contact some more buddies of mine.

There are sign on bonuses for many of their units, but this unit has day positions open, likely because they are starting from scratch.

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$12,500 over two years is an extra $521 a month. If you work 3 shifts per week, that's an extra $43 per shift. If the shifts are 12 hours, that's an extra $3.62 per hour. How does the pay rate compare to where you're currently working? And if bonuses are taxed at a higher rate, you take home less than that. Also, with the commute, add two hours to each shift now you have an extra $3.10 an hour. If it winds up being both a good place to work and a pay raise, awesome. If not, and you hate the commute, is $3 an hour worth it?

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Specializes in LTC, Med/Surg, Peds, ICU, Tele.
$12,500 over two years is an extra $521 a month. If you work 3 shifts per week, that's an extra $43 per shift. If the shifts are 12 hours, that's an extra $3.62 per hour. How does the pay rate compare to where you're currently working? And if bonuses are taxed at a higher rate, you take home less than that. Also, with the commute, add two hours to each shift now you have an extra $3.10 an hour. If it winds up being both a good place to work and a pay raise, awesome. If not, and you hate the commute, is $3 an hour worth it?

Good point. I'd have to make sure I got a competitive wage as well.

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And remember that sign on bonuses are not paid in full up front, they are paid spread out over time, and are also taxes much heavier since it is considered non-earned income in the first place. You will not be seeing more than $7000 of it or so in actual cash in your pocket.

Take the job is you truly wish to work there, not because of the sign-on bonus. Would you consider that facility if they were not offering the sign-on bonus?

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Specializes in LTC, Med/Surg, Peds, ICU, Tele.
And remember that sign on bonuses are not paid in full up front, they are paid spread out over time, and are also taxes much heavier since it is considered non-earned income in the first place. You will not be seeing more than $7000 of it or so in actual cash in your pocket.

Take the job is you truly wish to work there, not because of the sign-on bonus. Would you consider that facility if they were not offering the sign-on bonus?

Last time I went to work for this hospital I also received a sign on bonus and did receive the whole thing at one time, actually. Not sure what their policy is at the moment, ownership of the hospital has changed.

As far as my desire to make a change, there are many factors contributing to this. There is a heavy atmosphere of politics where I'm working now that is tainting the work environment. I'm feeling stagnant personally and professionally and want to make a change. I live in an area with limited options due to being a rural setting. I've worked in this hospital previously and have many contacts and friends there. We are considering a move in that direction which would bring me within closer commuting distance.

So the answer to your question is multi-faceted.

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