PRINCETON, N.J. ó For certain jobs in selected industries, signing bonuses are making a comeback, says CareerJournal.com, The Wall Street Journalís executive career site.
ìEven though awards remain less prevalent than during the tech boom of the late 1990s, there are still opportunities for employees in hot areas to snag a bonus,î says Tony Lee, publisher, CareerJournal.com.
A typical signing bonus for middle managers and professionals runs about 5% to 10% of base salary, and a superstar senior executive can command a signing bonus equal to up to 100% of salary.
Employers use signing bonuses to lure top talent when good candidates are scarce. Employees are more likely to get a bonus if they work in an in-demand field, such as national security, data security or accounting.
Even if you donít work in a hot field, CareerJournal.com offers these tips for obtaining a signing bonus:
Thoroughly research whether signing bonuses are common in your industry or at your prospective employer.
Determine how other recent hires successfully negotiated signing bonuses.
Timing mattersódonít obsess over a signing bonus during job interviews. Bring it up after a company decides that it wants you.
Let the hiring manager know that youíre very interested in this job but have other opportunities, and a signing bonus would clinch your commitment.
Find out how long the position has been openóif it has been vacant for a year, you have more leverage.
Persuade the hiring manager that you must give up something valuable by taking the new job, such as an expected year-end bonus.
If a job offer strikes you as too low, ask for a higher salary before you request a signing bonus.
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Signing bonuses making a comeback, says Careerjournal.com
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