How ’bout my signing bonus? — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily
If you’re launching a job hunt for the first time in a while, here’s good news: Signing bonuses are all the rage. As of mid-1998, employers in many industries were resorting to lump-sum cash payouts ranging from 5 percent to 25 percent of a newcomer’s first-year base pay to attract top candidates.
Example: In a survey of 100 high-tech firms by Advanced-HR Inc.of Saratoga, Calif., 18 percent said they often offer hiring bonuses and 65 percent said they do it sometimes.
As a rule, check with recent hires about signing bonuses before accepting a job offer.
The IRS says too many employers misunderstand which fringe benefits are taxable and how they should be reported for payroll purposes. That's resulted in a major tax gap, the IRS says. And the agency is on a mission to get that money back from you!...Click here to find out more.