signing bonus

[Lola77]

so who has received a sign-on bonus at a new job? How much and how long of a contract do you have to sign? Just curious. . .

[RosesrReder, BSN, MSN, RN]

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)

Very hard to determine if it's a 'crappy' place to work for or not with only 6 months under your belt.

After taxes, you will realize it's not that huge of a sum and to be quite honest, I'd rather work some OT or nights/weekends to ear that extra cash than be anchored for 2 yrs. Been there and done that (lesson learned)

If you plan to save the money (good idea), make sure you add interest. Find out how much (if any) your hospital charges if you break your contract.

[melsman1904]

I got $7500 for a two year commitment last year as a new grad. 50% paid up front, then 25% after 1 year, with the remaining balance after completion of the two years. Oh, and if I leave early, I get the distinguished pleasure of paying 18% interest on any funds for which I haven't fulfilled my commitment. Oh, the foolish things broke college students will do when you dangle dollar signs in front of them!

[jmking]

Sign on bonuses? Not here. The bonus is having a job.