Can You Get a Sign-On in This Market?
- On October 6, 2024
Although the recent September job report was positive, the in-house market has not yet recovered. But even so, the Wall Street Journal reports signing bonuses are still possible. How can you do it?
- You must ask. Always ask for a signing bonus, “even in a soft market.”
- When to ask? 70% of those who got signing bonuses asked AFTER they got the offer.
- How do you ask? Point out to the employer a critical skill you have that’s hard to find. WSJ lists things like AI and cybersecurity experience. My equally important add: you must ask nicely, like “Would you consider a sign-on of $X” with a good reason, like you are leaving money behind, whether it’s equity or an upcoming bonus or raise.
So why would a company consider a sign-on in this market? I agree with the WSJ article that a company trying to recruit you has put in a lot of time and money and doesn’t want to lose you at the end. And (I often see this) if an employer can give you more money via a sign-on, they can close you in a way that won’t upset the current pay structure of their existing team.
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