Find all School-related info fast with the new School-Specific MBA Forum

It is currently 18 Sep 2014, 15:53

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

Signing Bonus Questions

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:
Director
Director
User avatar
Joined: 28 Jun 2006
Posts: 958
Followers: 1

Kudos [?]: 71 [0], given: 0

GMAT Tests User
Signing Bonus Questions [#permalink] New post 19 Apr 2007, 18:10
I have two questions:

1. Are signing bonuses usually just offered to freshly minted MBA's, or can I expect a signing bonus every time I change jobs once I have my MBA?

2. Is there usually a condition attached with signing bonuses that you have to stay with the company for a certain amount of time (or else owe them the bonus if you leave early?)
Director
Director
User avatar
Joined: 07 Aug 2006
Posts: 572
Followers: 1

Kudos [?]: 4 [0], given: 0

GMAT Tests User
Re: Signing Bonus Questions [#permalink] New post 19 Apr 2007, 18:32
johnnyx9 wrote:
I have two questions:

1. Are signing bonuses usually just offered to freshly minted MBA's, or can I expect a signing bonus every time I change jobs once I have my MBA?

2. Is there usually a condition attached with signing bonuses that you have to stay with the company for a certain amount of time (or else owe them the bonus if you leave early?)


There is no consistent standard for either of these questions, but there are mid-career jobs that provide signing bonuses and signing bonuses often do require you to stay on for a certain amount of time. I'm not sure if this is what you're getting at, but I don't think you'll find it easy, profitable, or good for your career to increase your short-term earnings by job-hopping to collect a bunch of signing bonuses.
Manager
Manager
User avatar
Joined: 13 Sep 2006
Posts: 212
Followers: 2

Kudos [?]: 1 [0], given: 0

GMAT Tests User
Re: Signing Bonus Questions [#permalink] New post 19 Apr 2007, 18:37
johnnyx9 wrote:
I have two questions:

1. Are signing bonuses usually just offered to freshly minted MBA's, or can I expect a signing bonus every time I change jobs once I have my MBA?

2. Is there usually a condition attached with signing bonuses that you have to stay with the company for a certain amount of time (or else owe them the bonus if you leave early?)


When I got my signing bonus for my current job, it was contingent upon me staying for at least a year. If I left before, I would have to repay my employer..
Director
Director
User avatar
Joined: 28 Jun 2006
Posts: 958
Followers: 1

Kudos [?]: 71 [0], given: 0

GMAT Tests User
 [#permalink] New post 19 Apr 2007, 18:41
Dukes - No, I wasn't thinking of jumping around to collect signing bonuses, but I was thinking if I signed on with a consulting company and was totally burnt out after a year or two and decided it wasn't for me if I'd have to give the money back.

But I was also wondering if signing bonuses were a premium that companies pay to snatch up MBA's, or if it's a pretty standard job thing, like if I work in consulting for a few years, then decide to move to industry finance, it would be nice if there were a signing bonus there.
VP
VP
User avatar
Joined: 20 Sep 2005
Posts: 1023
Followers: 3

Kudos [?]: 24 [0], given: 0

GMAT Tests User
 [#permalink] New post 19 Apr 2007, 19:01
Signing bonus and stock options are pretty standard in most industries.

johnnyx9 wrote:
Dukes - No, I wasn't thinking of jumping around to collect signing bonuses, but I was thinking if I signed on with a consulting company and was totally burnt out after a year or two and decided it wasn't for me if I'd have to give the money back.

But I was also wondering if signing bonuses were a premium that companies pay to snatch up MBA's, or if it's a pretty standard job thing, like if I work in consulting for a few years, then decide to move to industry finance, it would be nice if there were a signing bonus there.
SVP
SVP
User avatar
Joined: 24 Aug 2006
Posts: 2135
Followers: 3

Kudos [?]: 86 [0], given: 0

GMAT Tests User
 [#permalink] New post 20 Apr 2007, 06:33
Yes. I've read students take their signing bonuses and go on group vacations just after graduation and before work starts. It sounds like a great experience.
Manager
Manager
User avatar
Joined: 25 Sep 2006
Posts: 248
Followers: 1

Kudos [?]: 0 [0], given: 0

GMAT Tests User
 [#permalink] New post 20 Apr 2007, 06:34
One interesting thing that I found out while at an admit weekend was that many firms will pay out the signing bonus at the end of your internship to entice you to commit to them before going back to school.

All along, I was thinking they would wait til you graduate to finalize things, but MAN! $30 - $50k sounds like an awesome way to finish off the summer!


:lol:
GMAT Club Legend
GMAT Club Legend
avatar
Affiliations: HHonors Diamond, BGS Honor Society
Joined: 05 Apr 2006
Posts: 5925
Schools: Chicago (Booth) - Class of 2009
GMAT 1: 730 Q45 V45
WE: Business Development (Consumer Products)
Followers: 255

Kudos [?]: 1545 [0], given: 7

GMAT Tests User Premium Member
 [#permalink] New post 20 Apr 2007, 07:22
fluffydot wrote:
One interesting thing that I found out while at an admit weekend was that many firms will pay out the signing bonus at the end of your internship to entice you to commit to them before going back to school.

All along, I was thinking they would wait til you graduate to finalize things, but MAN! $30 - $50k sounds like an awesome way to finish off the summer!


:lol:


30 to 50 ???

More like 10 to 20.
Intern
Intern
avatar
Joined: 28 Mar 2007
Posts: 26
Followers: 0

Kudos [?]: 1 [0], given: 0

 [#permalink] New post 20 Apr 2007, 07:34
I haven't seen this mentioned yet, but I've heard that sometimes when you join a company in the middle of a given year and you're not eligible for a year end bonus the company will offer the sign on to both motivate you to make the jump and as sort of a pre-paid year end bonus.
GMAT Club Legend
GMAT Club Legend
avatar
Affiliations: HHonors Diamond, BGS Honor Society
Joined: 05 Apr 2006
Posts: 5925
Schools: Chicago (Booth) - Class of 2009
GMAT 1: 730 Q45 V45
WE: Business Development (Consumer Products)
Followers: 255

Kudos [?]: 1545 [0], given: 7

GMAT Tests User Premium Member
 [#permalink] New post 20 Apr 2007, 07:52
mattyb wrote:
I haven't seen this mentioned yet, but I've heard that sometimes when you join a company in the middle of a given year and you're not eligible for a year end bonus the company will offer the sign on to both motivate you to make the jump and as sort of a pre-paid year end bonus.


I've seen it happen more as a bonus buyout - to convince you to move - especially if bonuses are big part of comp. I know someone in IB who had a 200K bonus last year, and another firm is trying to recruit them now. As part of the recruiting package, they are offering a $200K sign on as a "bonus buyout" - on top of the actual annual bonus.
Intern
Intern
avatar
Joined: 28 Mar 2007
Posts: 26
Followers: 0

Kudos [?]: 1 [0], given: 0

 [#permalink] New post 20 Apr 2007, 08:26
rhyme wrote:
mattyb wrote:
I haven't seen this mentioned yet, but I've heard that sometimes when you join a company in the middle of a given year and you're not eligible for a year end bonus the company will offer the sign on to both motivate you to make the jump and as sort of a pre-paid year end bonus.


I've seen it happen more as a bonus buyout - to convince you to move - especially if bonuses are big part of comp. I know someone in IB who had a 200K bonus last year, and another firm is trying to recruit them now. As part of the recruiting package, they are offering a $200K sign on as a "bonus buyout" - on top of the actual annual bonus.


That too...which would be pretty darn nice. This is fairly common with financial planners and credit relationship managers (commercial loan officers) as they are expected to bring a lot of business with them when they jump ship to another company.
Manager
Manager
avatar
Joined: 28 Sep 2006
Posts: 166
Followers: 1

Kudos [?]: 1 [0], given: 0

 [#permalink] New post 20 Apr 2007, 09:40
rhyme wrote:
mattyb wrote:
I haven't seen this mentioned yet, but I've heard that sometimes when you join a company in the middle of a given year and you're not eligible for a year end bonus the company will offer the sign on to both motivate you to make the jump and as sort of a pre-paid year end bonus.


I've seen it happen more as a bonus buyout - to convince you to move - especially if bonuses are big part of comp. I know someone in IB who had a 200K bonus last year, and another firm is trying to recruit them now. As part of the recruiting package, they are offering a $200K sign on as a "bonus buyout" - on top of the actual annual bonus.


Rhyme, how senior is that guy? That's an awful lot of money for a sign-on bonus.
Manager
Manager
avatar
Joined: 04 Jan 2007
Posts: 94
Location: Bay Area
Followers: 1

Kudos [?]: 3 [0], given: 0

 [#permalink] New post 20 Apr 2007, 09:42
Signing bonuses in most cases for new MBAs ( in finance especially)are really payments for moving costs. Believe me, the $10-20K really don't go a long way especially after taxes, payments for moving, securing a new apartment , some furnishings and perhaps a new wardrobe.

All the people hired by IBs straight from undergrads were not given any relocation perks, just signing bonuses.

Of course, signing bonuses associated with higher level positions (after years of experience) are considered extras, with many other perks thrown in as part of the deal.

I have heard that Fortune 500 companies may throw in relocation costs but with a lower signing bonus.
GMAT Club Legend
GMAT Club Legend
avatar
Affiliations: HHonors Diamond, BGS Honor Society
Joined: 05 Apr 2006
Posts: 5925
Schools: Chicago (Booth) - Class of 2009
GMAT 1: 730 Q45 V45
WE: Business Development (Consumer Products)
Followers: 255

Kudos [?]: 1545 [0], given: 7

GMAT Tests User Premium Member
 [#permalink] New post 20 Apr 2007, 09:58
flapjack wrote:
rhyme wrote:
mattyb wrote:
I haven't seen this mentioned yet, but I've heard that sometimes when you join a company in the middle of a given year and you're not eligible for a year end bonus the company will offer the sign on to both motivate you to make the jump and as sort of a pre-paid year end bonus.


I've seen it happen more as a bonus buyout - to convince you to move - especially if bonuses are big part of comp. I know someone in IB who had a 200K bonus last year, and another firm is trying to recruit them now. As part of the recruiting package, they are offering a $200K sign on as a "bonus buyout" - on top of the actual annual bonus.


Rhyme, how senior is that guy? That's an awful lot of money for a sign-on bonus.


She's an established associate with about 7 years of IB experience.
GMAT Club Legend
GMAT Club Legend
avatar
Affiliations: HHonors Diamond, BGS Honor Society
Joined: 05 Apr 2006
Posts: 5925
Schools: Chicago (Booth) - Class of 2009
GMAT 1: 730 Q45 V45
WE: Business Development (Consumer Products)
Followers: 255

Kudos [?]: 1545 [0], given: 7

GMAT Tests User Premium Member
 [#permalink] New post 20 Apr 2007, 10:00
cbreeze wrote:
Signing bonuses in most cases for new MBAs ( in finance especially)are really payments for moving costs. Believe me, the $10-20K really don't go a long way especially after taxes, payments for moving, securing a new apartment , some furnishings and perhaps a new wardrobe.

All the people hired by IBs straight from undergrads were not given any relocation perks, just signing bonuses.

Of course, signing bonuses associated with higher level positions (after years of experience) are considered extras, with many other perks thrown in as part of the deal.

I have heard that Fortune 500 companies may throw in relocation costs but with a lower signing bonus.


I've negotiated relo costs before more than once. In each case I didn't end up moving, but with one firm in California, I convinced them to dish out $40,000 in relocation - cover sale of my home, temporary housing, etc. Just negotiate and negotiate well.
Manager
Manager
avatar
Joined: 04 Jan 2007
Posts: 94
Location: Bay Area
Followers: 1

Kudos [?]: 3 [0], given: 0

 [#permalink] New post 20 Apr 2007, 11:31
rhyme, I think in your case, it is what I call higher level positions.....you are in the driver's seat in the negotiation. You couldn't have gotten that in your first job out of school.
My friends who went into IB right after college weren't given relo costs.
The ones who received moving costs, are the ones who went into corporate finance, eg. GE, Ford,Northrup, Cisco.
I am referring to new MBA's ,and those in IB and IM who in most cases are given the standard package. Signing bonuses only.

Last edited by cbreeze on 20 Apr 2007, 11:36, edited 1 time in total.
GMAT Club Legend
GMAT Club Legend
avatar
Affiliations: HHonors Diamond, BGS Honor Society
Joined: 05 Apr 2006
Posts: 5925
Schools: Chicago (Booth) - Class of 2009
GMAT 1: 730 Q45 V45
WE: Business Development (Consumer Products)
Followers: 255

Kudos [?]: 1545 [0], given: 7

GMAT Tests User Premium Member
 [#permalink] New post 20 Apr 2007, 11:33
cbreeze wrote:
rhyme, I think in your case, it is what I call higher level positions.....you are in the driver's seat in the negotiation. You couldn't have gotten that in your first job out of school.

I am referring to new MBA's ,and those in IB and IM who in most cases are given the standard package. Signing bonuses only.


True... if you just go the standard route there isnt much wiggle room.
  [#permalink] 20 Apr 2007, 11:33
    Similar topics Author Replies Last post
Similar
Topics:
Experts publish their posts in the topic Tuition Reimbursement Signing Bonus? galan 2 17 Aug 2013, 05:35
3 Experts publish their posts in the topic Signing score780 9 25 Mar 2013, 14:31
1 signing bonus / tuition gismb 2 15 Aug 2012, 08:23
6 Experts publish their posts in the topic Median Salary + Signing Bonus for Top MBA Programs asimov 10 31 Dec 2010, 16:49
Experts publish their posts in the topic Minimum Bonus martie11 2 26 Nov 2010, 13:52
Display posts from previous: Sort by

Signing Bonus Questions

  Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.