signing bonus

pers · Jun 25, 2010

Unless you are bringing some serious skills to the table, I'd be leary of any facility offering a sign on bonus these days. If they are they desperate for help, especially if you are a new grad, there's likely a very good reason they are offering a bonus and it doesn't mean anything good for you.

bagladyrn, RN · Jun 25, 2010

As the above poster said, if a facility is paying a sign on bonus in this economy I'd be very careful! Remember that once you accept the bonus (read the contract carefully) they essentially "own" you. Contracts generally have a clause stating that if you leave before the term of the contract (usually several years) you are required to pay them back in full immediately. This means whatever conditions they subject you to you must accept. Department changes, shift changes, bad schedules, whatever.

If you do decide to accept such a condition I'd advise you to stick that bonus mony in an account (and this is the hard part) and DON'T TOUCH IT until the contract period is completed.

That way if the job becomes untenable or other life situations make it impossible to stay you aren't stuck - or broke.

Meriwhen, ASN, BSN, MSN, RN · Jun 25, 2010

If you have experience, you can get about $1,000-$2,000 in cash or gifts as a signing bonus from a couple of the hospitals, depending on what department they're recruiting for...but most places here won't give you anything.

If you're a new grad, forget it! If you're lucky, you may get a couple hundred for a uniform allowance, or they may pick up the tab for a NCLEX review program. But here, the days of hefty signing bonuses for new grads are gone for the time being.

Black Jade, BSN, RN · Jun 25, 2010

I received a sign-on bonus of $5000 in 2008 . I got the first $2500 when I finished my 3 month probation and the other $2500 when I met the one year mark. Oh, and this is my first RN job at a community clinic. I also got $500 differential for passing a bilingual test.

BJ

fanfan8787RN · Jun 25, 2010

Sign on bounuses still exist. I received one. $5,000. Plus relocation for a 2 year commitment.

NewTXnurse · Jun 25, 2010

I was a new GN one year ago. The hospital I chose to work at offered a $4000 sign-on that was broken down into quarterly payments (you would get all $4000 after working one year) OR they offered $400 per month towards student loan. I chose the student loan route - each month I work they pay me an additional $400 no contracts signed. I will have my $10,000 student loan paid off in two years!!

**RosesrReder, BSN, MSN, RN** · Jun 25, 2010

I got 5k in 2007 for a 2yr commitment. After uncle Sam got his cut, I was left with very little. Not worth it in the end.

SoClose! · Jun 25, 2010

I got my job as a new grad (in Oct '09) with a $2000 sign-on bonus. Half at six months and I'll get the other half at one year. Didn't sign any contract, though.

dthfytr, ADN, LPN, RN, EMT-B, EMT-I · Jun 25, 2010

I was once offered a job with a sign-on bonus. I asked how that was paid. It was paid as a percentage per hour which turned out by coincidence to be the most I could expect from my annual evaluation. A less than stellar annual evaluation meant a pay cut! I declined the offer.

Now I'm really cynical about sign on bonuses (SOB's). First thing I wonder is why they're so desperate to get nurses to work there. I network their employees to get a feel for how happy they are. That's usually the end of my consideration. THERE'S NO SUCH THING AS A FREE LUNCH!

RNin505 · Jun 25, 2010

I received a $4000 signing bonus back in January as a new grad which was awesome. As far as I know, my hospital is still offering bonuses, many of my friends who I graduated with also received bonuses.

Lola77 · Jun 25, 2010

thanks for the responses - I have 6 mos experience as an RN and when I applied for and got a job they told me that I would get a signing bonus of $6,000 and relocation $3,500 (had already moved). I was surprised by it, but yes. I think i am going to stick it all in a savings acct until my 2 years are up lol. The job is super hard but not a bad hospital (as far as crappy hospitals go lol) so hopefully I will finish my two years.

I think signing bonuses are pretty much used to trap people in less than stellar jobs lol! (except for the bonuses based on skills, experience, etc)

Cherry2000 · Jun 25, 2010

I just graduated in May and as a new grad I was given $5000 tuition reimbursement for my degree which pretty much amounts to the same thing as a sign on bonus. The way they do it is each paycheck you get an equal percentage so, mine is roughly $100 every two weeks for 2 yrs. There was no contract and if I leave I don't owe anything. They also paid for my review class and gave me a Littman. Not bad! :)