Why are employees given a “signing bonus”? Isn’t the salary enough incentive to join?
In: Other
Usually it’s to persuade you because there might be other options available. The only signing bonus I’m really knowledgeable on is the singing bonus in professional baseball. A player might get drafted out of high school late in the draft. The signing bonus is to supposed to persuade him to sign with the team and join their minor league association to start their professional career. However, a player getting drafted out of high school more than likely has some great options to play in college as well.
Pros of signing are:
Getting that signing bonus
Playing pro ball
Cons of signing are:
Might not ever make it because you aren’t a highly regarded prospect
Pros of going to college are:
Get the chance to build a great college career and be a much highly regarded draft prospect a few years down the road
Get a college degree Incase baseball doesn’t work out
Cons of going to college are:
No signing bonus
Career might get derailed and you don’t get drafted later
So yeah the salary is incentive but if there’s multiple companies offering a similar salary or other good aspects of a job the signing bonus might be a good way to make some decide on that company
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