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Started By
Message
re: Signing Bonuses
Posted on 3/14/16 at 2:14 pm to lesgeaux
Posted on 3/14/16 at 2:14 pm to lesgeaux
quote:
If I signed a 2-year Promissory Note for a sign-on bonus and then decide to quit said job prior to 2 years, I have to pay up, correct? Guy I work with is telling me an employer cannot demand this money back, but that seems entirely inaccurate to me.
If you sign it, you def. have to pay it back. Most places have this in place for sign on bonus and relocation assistance.
Government taxes the shite out of bonus. Way higher than your salary rate. Usually comes out to about a flat 35-40%. It blows.
1
Posted on 3/14/16 at 2:25 pm to STLhog
quote:
Government taxes the shite out of bonus. Way higher than your salary rate
Wrong
quote:
If I signed a 2-year Promissory Note for a sign-on bonus and then decide to quit said job prior to 2 years, I have to pay up, correct? Guy I work with is telling me an employer cannot demand this money back, but that seems entirely inaccurate to me.
Most places that offer a sign on bonus will require you to stay for a certain length of time, although enforcing that can be an issue, so now they are saying that they will give you a bonus for working there for a year or 2, but will give you the bonus early (at initiation of employment)in the form of a loan that will be dismissed if you work there for the requisite time period
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