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Sign on bonus

So I start my new position on Monday coming up but things got a little heated and tense today with a call I had with the recruiter. Basically, the sign on bonus agreement states I must not terminate my employment willfully or be fired for “cause” within the first 12 months of employment or I will need to make repayment back in full. All that is standard or whatever, but the part of contention came within the payback period if that does occur. They are putting in the document that it is to be paid in full within 30 days or they can essentially sue me.

Is this a common length of payback period? Kind of seems just like more BS. Wouldn’t a period of several months be more reasonable?Already starting to loathe this job before I even start.

I think mine was like that, 1 year.

We’re gonna win so much, you may even get tired of winning. And you’ll say, 'Please, please. It’s too much winning. We can’t take it anymore. Mr. President, it’s too much.' And I’ll say, 'No, it isn’t!' We have to keep winning!

OP: didn’t you say in the other thread the waiting period was 120 days? Now it’s one year. 

Just pay them back the $5 if you quit. No big deal. 

“Visit the Water Cooler forum on Analyst Forum. It is the best forum.”
- Everyone

I think it was $15k. 

Just put the $15k in XRP until you land the next gig. You’ll probably be a millionaire by the end of the year anyway.

Oh no, you don't want to mess with a guy thats riding on a buffalo.

Mike79 wrote:

I think it was $15k. 

Yeah they changed multiple terms of it. It’s 10k. after tax like 7500 I think. But the only thing is, and I see what you are saying but I do not have 7500 in cash currently. I am fully invested. Hedged but not in cash at all. 

Have any of you negotiated a new employer pay back your sign on bonus on your behalf? I ask, however, probably know the answer is no. Maybe not though depending on how much you are valued by a new firm? 

It’s just the 30 day payback period that is required. This is my first time receiving a sign on so definitely new to it.

Pretty sure my current and past ones were 30 day payback as well. 

Keep the $7500 in cash for a year if you’re worried about paying it back.

We’re gonna win so much, you may even get tired of winning. And you’ll say, 'Please, please. It’s too much winning. We can’t take it anymore. Mr. President, it’s too much.' And I’ll say, 'No, it isn’t!' We have to keep winning!

hpracing007 wrote:

Keep the $7500 in cash for a year if you’re worried about paying it back.

That is not what a BSD would do. Just roll it over into the next $15K signing bonus?

¯\_(ツ)_/¯ It be like that sometimes.

GuyOnABuffalo wrote:

Just put the $15k in XRP until you land the next gig. You’ll probably be a millionaire by the end of the year anyway.

 You aren’t serious, but what’s actually insane is the high probability of there being another massive run in cryptocurrency. Planning accordingly.

CEO10K-DAY wrote:

hpracing007 wrote:

Keep the $7500 in cash for a year if you’re worried about paying it back.

That is not what a BSD would do. Just roll it over into the next $15K signing bonus?

lol

This seems standard to me. And yes employers will cover bonuses sometimes, but not sure about this situation where you are exhibiting behaviors that are negatives to an employer (jumping around a lot) 

rawraw wrote:

This seems standard to me. And yes employers will cover bonuses sometimes, but not sure about this situation where you are exhibiting behaviors that are negatives to an employer (jumping around a lot) 

i was at my last employer before this one for 3 years so that’s hardly “jumping around”. And honestly as was discussed in the other thread, although I don’t really “need” to work right now, I haven’t been employed since February so taking this job and finding something I really want in a few months isn’t a bad idea I don’t think. 

Ive been consulting part time for my friends Hong Kong based blockchain company since I left my full time job so I probably won’t even list this accounting job I’m taking on my resume. 

Iprofit4sure wrote:

rawraw wrote:

This seems standard to me. And yes employers will cover bonuses sometimes, but not sure about this situation where you are exhibiting behaviors that are negatives to an employer (jumping around a lot) 

i was at my last employer before this one for 3 years so that’s hardly “jumping around”. And honestly as was discussed in the other thread, although I don’t really “need” to work right now, I haven’t been employed since February so taking this job and finding something I really want in a few months isn’t a bad idea I don’t think. 

Ive been consulting part time for my friends Hong Kong based blockchain company since I left my full time job so I probably won’t even list this accounting job I’m taking on my resume. 

Why do you want to already switch when it’s the most money you’ve ever made? 

Was it necessary to create a new thread? Your other one was already the top thread and this is exactly on topic.

Not the kind of move I’d expect from someone that deserves a signing bonus.

I went through a similar negotiation with a non-compete clause. During my negotiations HR’s favorite comment was this is all standard, boiler plate, blah blah, but essentially tried to include a non-compete for 1 year for voluntary departure & termination by cause. I was very surprised to hear that most people just accepted the verbiage at will bc (not sure if this is entirely certain) she mentioned she has never had to discuss such topics. Nonetheless, I was able to use recent legislation in my state, specifically garden leave statues, to remove the lines all together. 

I’m telling you this because its time folks start to demand more, not just with pay but regarding everything. The lack of backbone among my competitors has lead to companies having all the leverage. Before i start to unionize this entire field i think its best to first start with collective bargaining increases. 

Fight for what you want, man. These firms dont give a **** about you,  never forget that. 

Iprofit4sure wrote:

Mike79 wrote:

I think it was $15k. 

Yeah they changed multiple terms of it. It’s 10k. after tax like 7500 I think. But the only thing is, and I see what you are saying but I do not have 7500 in cash currently. I am fully invested. Hedged but not in cash at all. 

they’ll probably ask you to pay the full $10k back, brah - keep that in mind. They’ll say you can go chase the $2500 tax witholding from the IRS when you file your tax return later. Whatcha gonna do

Does anyone actually say “sign on” bonus? I’ve always heard “signing” bonus. Like Patrick Mahomes is going to get a $70 million signing bonus after his rookie contract is up. 

I was tinking the same ting. Pleas advise. Tank

Hey Hamilton, have a holly jolly Christmas.

Mobius Strip wrote:

Iprofit4sure wrote:

Mike79 wrote:

I think it was $15k. 

Yeah they changed multiple terms of it. It’s 10k. after tax like 7500 I think. But the only thing is, and I see what you are saying but I do not have 7500 in cash currently. I am fully invested. Hedged but not in cash at all. 

they’ll probably ask you to pay the full $10k back, brah - keep that in mind. They’ll say you can go chase the $2500 tax witholding from the IRS when you file your tax return later. Whatcha gonna do

id laugh and say, see ya in court here’s my lawyers number. He’s good. 

Iprofit4sure wrote:

Mobius Strip wrote:

Iprofit4sure wrote:

Mike79 wrote:

I think it was $15k. 

Yeah they changed multiple terms of it. It’s 10k. after tax like 7500 I think. But the only thing is, and I see what you are saying but I do not have 7500 in cash currently. I am fully invested. Hedged but not in cash at all. 

they’ll probably ask you to pay the full $10k back, brah - keep that in mind. They’ll say you can go chase the $2500 tax witholding from the IRS when you file your tax return later. Whatcha gonna do

id laugh and say, see ya in court here’s my lawyers number. He’s good. 

He’s right I profit. You’ll be expected to pay back all of it and get the rest back at tax season. At least I’d expect that to occur since you’ll be leaving not on the best terms if you go so soon https://www.wallstreetoasis.com/forums/can-someone-explain-this-to-mepay...

hpracing007 wrote:

Pretty sure my current and past ones were 30 day payback as well. 

Keep the $7500 in cash for a year if you’re worried about paying it back.

This.

I doubt they would be willing to negotiate as it bluntly shows that you are considering leaving before completing one year and you want to make sure you get that free money. If your plan is to quit within a couple of months, just don’t spend it. If you find yourself already 9 months in and then decide you want to quit, finish your 12 months so you don’t have to worry about paying it back.

Don’t fall into the mental accounting trap, you’re living your life fine (I’m assuming) without that $7,500. Just because it is a bonus and not regular income doesn’t mean you have to spend it within a year.

bazz

Do you actually want to do this job?  Why did you want this job in the first place?  One year is nothing then.

Last signing bonus I got had a two year requirement or I had to pay it back. I left after 26 months.

I would try to negotiate a proportional vesting period as time goes by i.e 6 months = 6/12 of the bonus vested so you’ll only owe half etc

having a conditional liability like that would be burdensome so maybe they could meet you half way

PistolPt wrote:

Do you actually want to do this job?  Why did you want this job in the first place?  One year is nothing then.

Last signing bonus I got had a two year requirement or I had to pay it back. I left after 26 months.

No I do not want this job really. Just took it be employed and not have too much of a gap in employment. Still looking actively for something better.

Iprofit4sure wrote:

Mobius Strip wrote:

Iprofit4sure wrote:

Mike79 wrote:

I think it was $15k. 

Yeah they changed multiple terms of it. It’s 10k. after tax like 7500 I think. But the only thing is, and I see what you are saying but I do not have 7500 in cash currently. I am fully invested. Hedged but not in cash at all. 

they’ll probably ask you to pay the full $10k back, brah - keep that in mind. They’ll say you can go chase the $2500 tax witholding from the IRS when you file your tax return later. Whatcha gonna do

id laugh and say, see ya in court here’s my lawyers number. He’s good. 

Hmmm, the lawyer backed by a guy struggling  to come up with $10k or the one backed by a company.  Decisions, decisions.  But yes, you will wind up paying back the full amount $10k.

#FreeCVM #FreeTurd #2007-2017

Iprofit4sure wrote:

PistolPt wrote:

Do you actually want to do this job?  Why did you want this job in the first place?  One year is nothing then.

Last signing bonus I got had a two year requirement or I had to pay it back. I left after 26 months.

No I do not want this job really. Just took it be employed and not have too much of a gap in employment. Still looking actively for something better.

What cracks me up is we’ve all sat here with a front row seat as you imploded your own career with rookie hubris and now you are scraping up the bottom of the Florida barrel for some desperation job in a strong hiring market and worrying about $10k, still making flippant statements bumbling your way to the bottom.

#FreeCVM #FreeTurd #2007-2017

^He ain’t wrong…

whatsyourgovt wrote:

The lack of backbone among my competitors has lead to companies having all the leverage.

This is a good summary of the US generally.   

Griingo wrote:

whatsyourgovt wrote:

The lack of backbone among my competitors has lead to companies having all the leverage.

This is a good summary of the US generally.   

It’s all relative, we aren’t savages like the Brits, you can’t just conduct a demolition on your work place over $600 like its the Liverpool Travelodge.

#FreeCVM #FreeTurd #2007-2017

^ We can’t possibly be held responsible for the Scousers

In hindsight, my comment read more severe than I intended.  Just an observation that a lot of Americans are very willing to hand over all the leverage to employers or service providers in the name of free market capitalism.