No more signing bonus?

[longnguyen]

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Hi

During my interview with Walgreens at Ft. Lauderdale in FL, I was said that they won't offer committment or signing bonus anymore (at least in this area).
I don't know if this is the true, or I am a very bad negociator...

Has anyone interviewed lately in this area?!

 

[dgroulx]

Hi

During my interview with Walgreens at Ft. Lauderdale in FL, I was said that they won't offer committment or signing bonus anymore (at least in this area).
I don't know if this is the true, or I am a very bad negociator...

Has anyone interviewed lately in this area?!

I think you can get one if you choose to work in Miami or across Alligator Alley in Naples.

 

[MountainPharmD]

Thats good news. You don't want to take a sign on bonus anyway.

 

[wrek92]

I think CVS was offering at least $10K to sign on for the Ft. Myers area. Maybe even as high as $20K. For some reason, that area is a pharmacy recruiting black hole. I don't know why. There are some nice resort areas down there e.g. Sanibel and Captiva islands but I wonder if they are still doing repairs from the hurricanes of 2004.

You also realize that you will have to sign some type of contract stating that you will work for them for xx amout of years depending on how much they give you and that you will have to pay them back if you bail on them before your committment is up.

 

[Hpower12]

I think CVS was offering at least $10K to sign on for the Ft. Myers area. Maybe even as high as $20K. For some reason, that area is a pharmacy recruiting black hole. I don't know why. There are some nice resort areas down there e.g. Sanibel and Captiva islands but I wonder if they are still doing repairs from the hurricanes of 2004.

You also realize that you will have to sign some type of contract stating that you will work for them for xx amout of years depending on how much they give you and that you will have to pay them back if you bail on them before your committment is up.

yeah but it would still be smarter to take the money, you could be collecting interest on it while you have it.

 

[DHG]

yeah but it would still be smarter to take the money, you could be collecting interest on it while you have it.

You probably couldn't earn the interest back that they will charge you on it if you bail. First of all, the bonus is taxed so you don't get all of it anyhow. Then if you bail, you will have to pay the ENTIRE amount back WITH interest. I don't know what the rates are but I'd bet they are substantially higher than your average money market or mutual fund or savings account or CD.

Hypothetical: You get a $10,000 bonus. You keep $8000 after taxes ( I have no idea if this is accurate, I just made it up--someone tell me what the tax is on these things). You invest it in a CD with a 4% return. You bail before your commitment is up. You now owe $10,000 + 6 or 8% interest back. You're still losing money.

One realistic solution (more realistic than earning interest on the bonus that would cover what you'd owe if you bailed) is to take another job with a sign-on bonus that would cover the payback of the first sign-on that you took... though that sort of puts you back where you started it at least is an option if you DID take a sign-on and then just hate it so much that you had to get out.

 

[alleycat]

My husband just signed with Walgreens in Fort Lauderdale and they told him that most of their positions were already filled so they had no reason to offer a sign on bonus.

 

[Farmercyst]

I think CVS was offering at least $10K to sign on for the Ft. Myers area. Maybe even as high as $20K. For some reason, that area is a pharmacy recruiting black hole. I don't know why. There are some nice resort areas down there e.g. Sanibel and Captiva islands but I wonder if they are still doing repairs from the hurricanes of 2004.

You also realize that you will have to sign some type of contract stating that you will work for them for xx amout of years depending on how much they give you and that you will have to pay them back if you bail on them before your committment is up.

You mean the really nice resorts where the rich snobs need their Viagra tonight and aren't willing to wait 1/2 hour to get it? Those really nice resorts?