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The Surprising Endurance of Signing Bonuses

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Summary

This article discusses the surprising trend of employers offering signing bonuses at levels higher than pre-pandemic levels. Research from Indeed shows that 5% of job postings in June 2021 cite signing bonuses, which is up from 1.8% pre-pandemic. Additionally, while wage growth is cooling, employers are relying on one-time payments to attract job seekers. Healthcare jobs are a major driver of this trend, with medical technicians, physicians, and nurses seeing increases in signing bonuses from pre-pandemic days to today.

Q&As

What has been the trend for offering signing bonuses in the US job market since the start of the pandemic?
The offering of signing bonuses has tripled since the start of the pandemic.

How have wages and signing bonuses changed since pre-pandemic levels?
Wages have continued to grow, but at a slower rate, while signing bonuses are declining, but at a far slower clip.

What industries are driving the continued popularity of signing bonuses?
Healthcare jobs are a major driver of the continued popularity of signing bonuses.

How is competition for workers in the medical field affecting the signing bonuses offered?
Competition for workers in the medical field is extremely intense, leading to an increase in signing bonuses offered.

What other trends in the labor market are emerging since the start of the pandemic?
Employers are offering compensation packages that are de-emphasizing salary and are instead relying on one-time payments to attract job seekers.

AI Comments

👍 This article is incredibly informative and provides great insight into the trend of signing bonuses and how it is continuing to remain strong during the pandemic.

👎 This article does not provide much analysis of the implications of employers relying on signing bonuses instead of salary growth.

AI Discussion

Me: It's about the surprising endurance of signing bonuses. Employers are continuing to offer one-time payments at rates well above pre-pandemic levels. Interestingly, the offering of signing bonuses has tripled since early 2020. This is despite the fact that wage growth is cooling, which suggests employers are relying more on bonuses to attract job seekers. Healthcare jobs are a big driver of the trend, with medical technicians and nurses seeing a big jump in signing bonus offers.

Friend: Wow, that's really interesting. It seems like employers are really pushing bonuses to attract job seekers in certain key areas.

Me: Yeah, it looks like they're prioritizing bonuses over salary increases in order to remain competitive in the labor market. This could have a big impact on how job seekers approach job postings. It could be more important to look at the bonuses being offered as opposed to the salary alone.

Action items

Research the current trends in signing bonuses for the specific industry you are interested in.
Reach out to employers in your field to inquire about signing bonus opportunities.
Consider negotiating for a signing bonus when negotiating your salary.

Technical terms

Signing Bonuses: A one-time payment offered to a new employee as an incentive to accept a job offer.
Compensation & Benefits: The total amount of money and other benefits an employee receives in exchange for their work.
Job Postings: A listing of available jobs, typically posted online.
Labor Market: The supply and demand of labor in a given area or industry.
Wages, Pay, & Salary: The amount of money an employee is paid for their work.
Vadim Liberman: A writer for the business and finance website The Balance.