These Companies Are Handing Out Cash—Sometimes $10,000!—When You Agree to Work There
Even as the job market remains stubbornly tough for many of us, there are companies that are so eager for workers, they’re paying major sign-on bonuses.
One big employer doing it now is Amazon. The online retail giant is offering up to a $2,000 sign-on bonus for myriad jobs—everything from warehouse gigs to shoppers to delivery roles— in dozens of cities across America.
And it’s not just Amazon who’s forking over the sign-on loot. To name a few more: Health care firm Anthem has a number of nursing-related jobs with a $5,000 sign-on bonus; shipping company Summit Logistics Group offers up to a $10,000 sign-on bonus for some truck drivers; and customer experience firm Alorica has a $500 bonus for some of its customer service gigs. Here’s what you need to know if you’re hoping for a sign-on bonus right now:
What industries more often give sign-on bonuses? “The industries that tend to offer sign-on bonuses are those that have experienced a tremendous influx of demand since the pandemic began, or a shift in the way they work, necessitating the hiring of many more professionals and creating a race for talent,” explains Brie Reynolds, a senior career specialist at FlexJobs. “For example, in mortgage and banking, there are historically low-interest rates, in health care, there's an increased need for medical professionals like nurses, and customer service has shifted largely to a remote model with a need for more workers.”
Where can I find more companies that give sign-on bonuses? Use a job search site like Glassdoor, Indeed or FlexJobs and type “sign-on bonus” or “signing bonus” in the search bar.
Why are the companies giving these bonuses? “Companies understand the competition for certain types of talent is fierce, so they see sign-on bonuses as a way to encourage high-demand professionals to choose their company over others hiring for the same roles,” she explains.
What's the catch? You may not immediately get the money. "Some employers include the bonus in your first paycheck and some require the successful completion of a certain timeframe ... like your first 30 or 90 days," says Reynolds. "Each employer handles these differently, so if you're in the running for a sign-on bonus, be sure to ask how it works."
Will we see more sign-on bonuses? Maybe. “If the current hiring deficits continue and certain career fields are in-demand, I think we'll continue to see these sign-on bonuses for certain types of jobs. But of course, it all depends on how the economy and job market continue to shift and change,” Reynolds says.