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Post by illinicheme on May 13, 2011 15:31:34 GMT -5
I work in pharmaceutical R&D. I've received a signing bonus for all three positions I've taken.
1) 2004 - First job out of grad school. $20k signing bonus (~23% of salary). Very minimal (200 shares) stock option (134 shares had vested by the time I left after 5 years).
2) 2009 - No signing bonus originally offered. Asked about one since I was leaving quite a bit of money on the table leaving my first job. Managed to negotiate $5k, ~4% of offered salary (tiny company). Generous stock options (4500 shares), but not vested by the time I was laid off 4 months later.
3) 2010 - $8k signing bonus (~6% of offered salary). Tried unsuccessfully to negotiate for more. Stock (RSUs and SSARs) worth ~$30k that vests over three years. Been here a year so far.
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achelois
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Post by achelois on May 13, 2011 15:34:36 GMT -5
I am a CRNA.
Got the 20k sign on bonus, 1500$ moving expense reimbursement and nearly doubled my salary at the new place.
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Frugal Nurse
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Post by Frugal Nurse on May 13, 2011 15:58:44 GMT -5
I am a CRNA. Got the 20k sign on bonus, 1500$ moving expense reimbursement and nearly doubled my salary at the new place. Where is this? I have considered furthering my education to be a CRNA- you make the money sound so nice!
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Post by lulubean on May 13, 2011 16:57:00 GMT -5
DH has been in IT since leaving the USN (1997) and has never encountered a signing bonus.
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Post by lulubean on May 13, 2011 16:59:34 GMT -5
Achelois, I would expect that though with your degree, you are in a higher underutilized job and still growing even now. What you got was still probably less than an ANES doc.
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Phoenix84
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Post by Phoenix84 on May 13, 2011 17:17:29 GMT -5
You guys are lucky with sign on bosnuses.
I had to pay 2k in moving expenses to take my current job.... Not to mention I'll be selling my condo at a loss. It'll be worth it in the long run though.
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achelois
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Post by achelois on May 13, 2011 17:25:45 GMT -5
Yes. The anesthesia doctors probably make at last twice as much as I.
I am in NC, frugal nurse. The money IS nice, at least for now, but you absolutely earn every penny. The hours can be long, call is brutal, and the work is both mentally and physically taxing.
Everybody and his brother is trying to get into anesthesia school and the market is going to end up supersaturated. Wages will go down if that happens, of course.
And who knows what will happen to healthcare. I am just trying to make it through six years til I can retire.
If I were not single, I would retire or cut back now. I was able to come out if the call rotation at least, a couple years ago. It gets so hard physically after 55. A lot of anesthetists still do call til they retire, but I sure don't know how.
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Post by commentator on May 15, 2011 22:00:55 GMT -5
Get out of the BIG 6 firms and go work for private companies The partnership wont be there in 20 years....but the money is good, and the politics are less trying I will never go back to another big firm Uhh, it's Big 4 now. They're still a good place to start an accounting career.
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DVM gone riding
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Post by DVM gone riding on May 15, 2011 22:24:40 GMT -5
different places offered jobs to new grads with sign on bonuses, I didn't want to work for those places though. It used to be real common in the nursing industry. At one point they were offering bonuses to anyone that got someone to come and interview/higher on at one high end hospital I knew. Two years ago my friend couldn't get a nursing job for 6 months after graduation.
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schildi
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Post by schildi on May 15, 2011 23:18:03 GMT -5
When I joined my company, I got $21K for sign-on and relo. Don't remember how it was split. Since I just got out of college at that time, the relocation cost me close to nothing. It was a nice chunk of money to start with. I got a ton of stock options in addition. But those expired worthless.
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Post by ty on May 15, 2011 23:50:38 GMT -5
If you are already paid a salary for doing your job, then you shouldn't be getting a bonus. They should take the bonus money and hire anther person that needs a job instead of giving it to a person that's already being paid up front to do a job they are paid to do.
Just as banks CEOs, they make more than enough in salary, and they do not deserve any bonuses in the millions of dollars. All those millions should be used to employ other people, not set aside to give to one person.
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schildi
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Post by schildi on May 15, 2011 23:57:41 GMT -5
If you are already paid a salary for doing your job, then you shouldn't be getting a bonus. They should take the bonus money and hire anther person that needs a job instead of giving it to a person that's already being paid up front to do a job they are paid to do. I think bonuses based on the company's performance given to employees are supposed to be an incentive for the employees to give their best. Correct me if that's wrong.
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happyscooter
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Post by happyscooter on May 16, 2011 6:26:22 GMT -5
Maybe she said 4 to 5 % raise, not 45%.
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Baby Fawkes
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Post by Baby Fawkes on May 16, 2011 9:35:30 GMT -5
If you are already paid a salary for doing your job, then you shouldn't be getting a bonus. They should take the bonus money and hire anther person that needs a job instead of giving it to a person that's already being paid up front to do a job they are paid to do. I think bonuses based on the company's performance given to employees are supposed to be an incentive for the employees to give their best. Correct me if that's wrong. I would agree with that for one of the reasons, when the bonus is paid out in stock / options for the company. As for another reason though, I view it as a way of attracting the better talent in a competitive market place. It also allows companies to increase the initial compensation to an employee without having to commit to a larger salary for a longer period. The company that I work for is more in favour of single annual bonuses rather than larger pay raises as it's a one-time cost if they need to scale back in the future or the employee doesn't perform as well the next year. I've come to believe from experience that the bonus is used more by companies to allow them to reduce te base compensation a little and therefore reduce their committed expenses. The average employee will be paid the equivalent of the industry rate.
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schildi
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Post by schildi on May 16, 2011 10:08:21 GMT -5
I think bonuses based on the company's performance given to employees are supposed to be an incentive for the employees to give their best. Correct me if that's wrong. I would agree with that for one of the reasons, when the bonus is paid out in stock / options for the company. As for another reason though, I view it as a way of attracting the better talent in a competitive market place. It also allows companies to increase the initial compensation to an employee without having to commit to a larger salary for a longer period. Yes, several good points here. Bonuses are a way for companies to attract talent while not having to commit to huge salary payments during down times. It's a smart way of structuring pay IMO.
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souldoubt
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Post by souldoubt on May 16, 2011 10:26:41 GMT -5
Just because companies are able to pay out bonuses doesn't mean they could turn around and instead use that money to hire people. They would actually need to have work for those people you can't just create jobs out of thin air. As others mentioned bonuses are used as a way to attract and retain talent in many industries which is beneficial to both employers and clients.
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Post by commentator on May 18, 2011 7:37:15 GMT -5
A few points.
First, employers don't hire people to give a job to someone who needs a job. Employers hire (and retain) people in order to fill a need the employer has.
Second, bonuses do not add to base salary. They do not have to be repeated and they are not part of of the base for a subsequent percentage increase in pay.
Third, a 45% pay raise to switch jobs does not surprise me. I know of a group of people who averaged 20% pay raises just to keep their same jobs with a new employer.
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formerexpat
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Post by formerexpat on May 18, 2011 22:46:11 GMT -5
Agreed. This may only indicate that a person was severely underpaid in their last position of equal responsibility.
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buster
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Post by buster on May 18, 2011 23:42:22 GMT -5
If you are already paid a salary for doing your job, then you shouldn't be getting a bonus. They should take the bonus money and hire anther person that needs a job instead of giving it to a person that's already being paid up front to do a job they are paid to do. Just as banks CEOs, they make more than enough in salary, and they do not deserve any bonuses in the millions of dollars. All those millions should be used to employ other people, not set aside to give to one person. For in demand positions that are hard to staff, a bonus is a way for a company to attract talent without having to maintain a higher base salary. If the company didn't offer the bonus, chances are the person the organization wanted to hire would not have accepted the position or possibly could have gone to a competitor. Not all employees are created equal.
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