Jump to content

sign-on bonus

Nurses   (1,566 Views 11 Comments)
by patrick8 patrick8 (New) New

559 Profile Views; 1 Post

i would like to share about sign-on bonuses. the facility i'm in says $3,000. for sign-on bonus. $1,500. given upon first day of employment then the second half after a year of employment. BUT here's the catch-you must stay for 90 more days after the $1,500. is given or else-they get back this bonus.

i think the term is a misnomer. sign-on yet it's given in partial methods. then when it's given, there are still some strings attached to it. just wanted to know-how do other facilities give this sign-on bonus gimmick. thanks, patrick8

Share this post


Link to post
Share on other sites

1 Article; 5,758 Posts; 32,621 Profile Views

Dear Patrick, Good for you, you read the fine print. Some people fail to do that and live to regret it. Nurses are signing on for bonuses and in some cases it is working out all right. Others are finding out to late about an exception in the contract. Not only do they not get the money they thought they had coming but in some cases it cost them money. It is buyer beware in this case.

Share this post


Link to post
Share on other sites

266 Posts; 4,702 Profile Views

I was offerred a $7500.00 sign-on....it's paid out over 3 years. I don't have to pay any of it back if I leave. I get my first $500 next month and then $1200 around Christmas.....

I would fore-go the bonus for a higher hourly wage....but I'm glad I got the job regardless....it's a great place to work........for now!!??

Share this post


Link to post
Share on other sites

42 Posts; 1,827 Profile Views

I applied for two different jobs one with a $10,000 sign-on spanning a 3-year time frame and one with a $3,000 sign-on spanning a 1-year time frame. I chose the smaller of the two because after doing my math ... the $3,000 sign-on combined with higher pay turned out to be more $$$ over 3-years than the $10,000 sign-on bonus. I got $1,500 immediately and $1,500 after 6 months of service. Well, as it turns out, the hospital combined my bonus $$$ with my paychecks (bumping me into the higher tax bracket) and they took about the $$$ amount of my 40 hour pay out in taxes!

Share this post


Link to post
Share on other sites

ERNurse752 has 8 years experience as a RN.

1,323 Posts; 9,886 Profile Views

I got a $2400 bonus, paid in $200 installments every month over one year. Had to agree to stay one year, but didn't have to pay it back if I left...wound up being a little less $ after taxes.

Share this post


Link to post
Share on other sites

140 Posts; 4,244 Profile Views

I have a 3k bonus in my travel contract, but I have to complete all of my hours that are stated in my contract. Meaning, maintaining my full time status of working atleast 72 hrs a paycheck. If I don't fulfill my contract...no bonus. Fortunately I've been working my hours...another 5 more weeks and hello bonus, after taxes of course.

Share this post


Link to post
Share on other sites

2,404 Posts; 17,859 Profile Views

I have heard, if you use the sign on bonus for paying school loans, no tax is involved. Anyone have any experience with this?

B.

Share this post


Link to post
Share on other sites

catlady has 21 years experience as a BSN, RN.

678 Posts; 6,329 Profile Views

I'm going to be getting a $2K sign-on bonus, and I had to sign an agreement that if I leave before a year, I have to pay it back. I hope it's a separate check, but I can't tell from the wording.

It's more reasonable than a previous place I worked, where they paid out 1/3 after two weeks with no strings. I know of at least one who stayed for two weeks, pocketed the money, and left. That's not fair to anyone.

Share this post


Link to post
Share on other sites

216 Posts; 3,074 Profile Views

I received a re-location bonous, I got the money upfront, if I leave before 1 year they deduct the amount of time you have worked for the facility and you are responsible for the rest.

Y2KRN

Share this post


Link to post
Share on other sites

712 Posts; 5,043 Profile Views

I notice the higher the bonus the worse the facility is. And they make you sign on with a mandatory of 2-4 years depending on what they stipulate. It is nothing more than a trick bag to get you in there. I would rather get paid a decent wage overall.

Share this post


Link to post
Share on other sites

18 Posts; 788 Profile Views

As a new grad north of Boston I have been on several interviews and my observation was the hospital would advertise sign on bonus but once you were in the inteview you found out it was only for certain shifts or if a position that went unfilled for 2 months. It got me thinking there must be a reason why nobody wants this job. If there was a bonus for almost all jobs why can't they find any help? Where a hospital close by pays less yet has fewer openings. Makes you think

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.
×