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  #1  
Old 12-06-2005, 10:17 AM
Fortal Fortal is offline
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Default Signing Bonus

I was wondering what is common nowadays regarding signing bonus in the pension arena for hires coming with about 5 years of experience. What are companies usually offering (for example $10K) for someone they really want to hire?
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Old 12-06-2005, 12:23 PM
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Why would they offer you a signing bonus?
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Old 12-06-2005, 12:27 PM
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What I meant by that last post is that signing bonus is highly dependent on many things. Such as competition, market conditions, area of the country, what the bonus is meant to cover. You might get a $20k signing bonues but no moving budget.

In any case, DW Simpson will come along and tell you that the typical bonus is between $0 and $10k depending on the many vageries of the issue.
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Old 12-06-2005, 12:40 PM
MathGeek92 MathGeek92 is offline
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Tell them you want a bonus of *$X* to cover the bonus you are giving up with your prior employer. Most will pay something (maybe not all).
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Old 12-06-2005, 12:44 PM
Dr T Non-Fan Dr T Non-Fan is offline
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Bonus can also cover giving up the security of one's current employer for the risk of moving to a new one.
Bonus can also be considered an insurance policy for contingent events (the work relationship not working out, mainly).
Bonus can also be considered compensation for the generally poor annual raises at larger corporations. Get your raises up front, and then speak no more of them.
Lastly, the bonus can be considered an incentive over a competing offer.
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Old 12-06-2005, 12:57 PM
altalingua altalingua is offline
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Quote:
Originally Posted by Dr T Non-Fan
Bonus can also be considered compensation for the generally poor annual raises at larger corporations.
Why do you say that the larger corporations give out poor annual raises?
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Old 12-06-2005, 12:59 PM
Uncle Larry Uncle Larry is offline
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Quote:
Originally Posted by altalingua
Why do you say that the larger corporations give out poor annual raises?
He didn't.
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  #8  
Old 12-06-2005, 02:51 PM
DW Simpson DW Simpson is offline
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Quote:
Originally Posted by Fortal
I was wondering what is common nowadays regarding signing bonus in the pension arena for hires coming with about 5 years of experience. What are companies usually offering (for example $10K) for someone they really want to hire?
For people entering pension arenas, it's similar to the other disciplines:

http://www.actuarialoutpost.com/actu...6&postcount=14

http://actuary.ca/actuarial_discussi...14&postcount=4

Quote:
Originally Posted by D.W. Simpson Webmaster
Signing bonuses, for the experienced students that receive them, are usually proffered for relocation expenses or other costs that the candidate might incur. An example of a non-relocation cost might be relinquishing a portion of your company's matching contribution to your 401K because you left before a certain vesting period.

If you're a student moving to a position across town, there usually is not a signing bonus.

Often when I see a substantial sign-on bonus for experienced students, it's relocation reimbursement.
And regarding relocation policies: http://actuary.ca/actuarial_discussi...2&postcount=13

Quote:
Originally Posted by A D.W. Simpson Recruiter
Typically depends upon level but I’ve seen some companies that have one relocation policy for all levels.

Some companies (particularly larger ones) have relocation packages where they take care of or have a realtor handle different aspects of a relocation (i.e. cost of moving the household/personal goods, a househunting trip, temporary housing for 30-60 days, the final moving trip airfare costs for family, sometimes an additional lump sum amount for miscellaneous costs). A thought on closing costs on buy and sell side: there is maybe a 50-50 chance that a company will pay for realtor costs on a home sale/purchase. Bigger companies sometimes have programs in place that have a very high cash value that a smaller company cannot always compete with. Very rarely do we see a company willing to purchase the home.

Other companies just give a lump sum (occasionally grossed up but typically not) that a candidate can allocate how they choose. There is more variety in the amounts offered in this case depending upon level of the candidate. Could be 3-5K for a student and up to 50K for an experienced Fellow with a house to sell.
http://www.actuarialoutpost.com/actu...ad.php?t=80536

Last edited by DW Simpson; 05-11-2006 at 11:36 AM..
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  #9  
Old 12-06-2005, 03:45 PM
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See. Told ya.
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