Walgreens RXM 50k sign on bonus…

[projektreverb]

So they must be getting desperate enough to fill these RXM positions that they have started offering this kind of bonus in small town, FL… Saw this posted by an HCS on LinkedIn…

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[JustFillIt]

Yea dude - there is a 50k spot open in clarkston Washington also.

I told the store manager that I would consider it if they amended the sign on agreement to remove termination for anything related to productivity (metrics etc). I have contacts there that reached out to me with this offer. I told them they could keep anything in the contract related to termination for job abandonment, sexual harrassment, etc. it’s not that I do not believe I could handle the work - I have earned my bones in hard retail trust me - I just know that they can make metrics say anything they want.

Honestly - I do not trust Walgreens as a company, and I do not trust the people there to deal with something g like this honestly. A bitter store manager and/or a regional manager that simply wants to push financials will target someone with a 50k price tag on their head.

 

[projektreverb]

Yea dude - there is a 50k spot open in clarkston Washington also.

I told the store manager that I would consider it if they amended the sign on agreement to remove termination for anything related to productivity (metrics etc). I have contacts there that reached out to me with this offer. I told them they could keep anything in the contract related to termination for job abandonment, sexual harrassment, etc. it’s not that I do not believe I could handle the work - I have earned my bones in hard retail trust me - I just know that they can make metrics say anything they want.

Honestly - I do not trust Walgreens as a company, and I do not trust the people there to deal with something g like this honestly. A bitter store manager and/or a regional manager that simply wants to push financials will target someone with a 50k price tag on their head.

100% agreed. So happy I left happy healthy.

 

[Gombrich12]

You're probably going to get offered $50-55/hr which makes it about even with what you would've made before they decreased the salary. You will also now feel trapped by having to pay back the signing bonus if you don't stay through the term.

 

[alpha12]

It's a trap

 

[rph3664]

I got a postcard today promoting a 35K bonus, for positions in 4 cities in Iowa, but you have to stay 2 years without having to repay it. Therefore lies the trap.

 

[projektreverb]

I got a postcard today promoting a 35K bonus, for positions in 4 cities in Iowa, but you have to stay 2 years without having to repay it. Therefore lies the trap.

Bets on them firing you a day short of two years and making said manager repay the bonus?

 

[Pharm.D2020]

The real kicker here is that if you take the sign on bonus the govt will take about half of it in taxes so you actually net way less than 50k. Then if you get fired or leave before the term is up you have to pay back the full amount.

 

[RN2RPh]

Pretty much agree with everyone above! There is a reason why they can't recruit anyone for that store. That pharmacy is probably a **** show everyday. And when you don't meet the metrics (which is impossible a lot of time), they will put you on PIP (Performance Improvement Plan) and eventually fire you. My store manager used to tell me "they don't care if you work 12 hours a day, 7 days a week. If you don't meet the numbers, you are not good enough". It is just the blaming game: when your pharmacy does not meet metrics, you, as a RXM, either fire your staff, your tech or you will get fired. Same for your Store Manager, they have to fire you (RXM) to save their a**.

 

[DoctorRx1986]

Not surprised . Walgreens is losing a lot of pharmacists this year . I don’t have any proof but an RXM at a store I worked at about three days ago told me that about 40% of pharmacists have left according to a compass . We’re talking in SFL. We’ve also seen many stores that are closed with no pharmacists opening up and I’m constantly getting texts from DMs asking for help . I never respond. This goes to show that even with saturation , pharmacists can and do find another better opportunities. Who wants to work for these chains anymore when there has not been an increase in pay in 5 years and the workload is heavier than ever with covid testing , covid immunizations , and skeleton crew staffing ? I’m glad the chains are starting to feel the burn .

 

[Sine Cura]

You can do better than Malgreens or Come Visit Satan

 

[CarpetTable45]

The real kicker here is that if you take the sign on bonus the govt will take about half of it in taxes so you actually net way less than 50k. Then if you get fired or leave before the term is up you have to pay back the full amount.

Unless you have lots of other income, you will not come anywhere close to “about half” in taxes.

Marginal Tax Rate: What It Is and How to Calculate It, With Examples

The marginal tax rate is the tax rate you pay on an additional dollar of income.

www.investopedia.com

In the event you pay back the bonus, you would get a corrected W-2, a W-2c which you use to file an amended return for the year you paid taxes in and get a refund for the extra taxes paid on income you no longer have.

In the event the employer does not give you a W-2c, then you can file for a section 1341 credit.

Section 1341 Credit: Definition, Purpose, and How It Works

Section 1341 is a tax credit from the I.R.S. available for taxpayers who have to repay more than $3,000 in wages from a prior year.

www.investopedia.com

 

[owlegrad]

Unless you have lots of other income, you will not come anywhere close to “about half” in taxes.

Marginal Tax Rate: What It Is and How to Calculate It, With Examples

The marginal tax rate is the tax rate you pay on an additional dollar of income.

www.investopedia.com

In the event you pay back the bonus, you would get a corrected W-2, a W-2c which you use to file an amended return for the year you paid taxes in and get a refund for the extra taxes paid on income you no longer have.

In the event the employer does not give you a W-2c, then you can file for a section 1341 credit.

Section 1341 Credit: Definition, Purpose, and How It Works

Section 1341 is a tax credit from the I.R.S. available for taxpayers who have to repay more than $3,000 in wages from a prior year.

www.investopedia.com

Taxes are confusing and misunderstood so it is refreshing to see good information provided instead of a tax boogeyman.

 

[JustFillIt]

Taxes are confusing and misunderstood so it is refreshing to see good information provided instead of a tax boogeyman.

Thank you so much for this - I have given up explaining taxes to people, in general, because there is some massive confusion surrounding the topic.

For example - they may tax the bonus, however if you do not meet certain bracket limits for your yearly income, you could get all or most of it back as a refund

 

[owlegrad]

Thank you so much for this - I have given up explaining taxes to people, in general, because there is some massive confusion surrounding the topic.

I feel you man. I have explained progressive tax brackets to my family so many times and I still get the inevitable comments about making too much money for taxes. I guess it’s nice that they care but it would be cool if they listened to how taxes actually work.

It’s even better when I hear those comments from my coworkers. I don’t usually try to correct them unless they seem open to actually discussing finances.

 

[ValeRx]

Taxes are confusing and misunderstood so it is refreshing to see good information provided instead of a tax boogeyman.

Taxation is theft.

 

[owlegrad]

Taxation is theft.

How do?

 

[ValeRx]

How do?

Because the government is taking money, under threat of force, from my paycheck.

 

[alpha12]

Because the government is taking money, under threat of force, from my paycheck.

Ok i'll bite. What is the alternative to "theft if your paycheck" as you call it? how else do would the govt function?

 

[BidingMyTime]

The real kicker here is that if you take the sign on bonus the govt will take about half of it in taxes so you actually net way less than 50k. Then if you get fired or leave before the term is up you have to pay back the full amount.

This. I learned this back in the heyday of pharmacists bonuses, oh so long ago. I took a bonus for a new job that I was nervous about, figuring, eh, I'll hold on to the money, and if I don't like the job, I'll pay it back and move on. At the time, I had a new and growing family and zero savings. I got the check, with half of the bonus taken for taxes, and realized that I couldn't quit, because I didn't have the money to pay back the bonus. I was quite naïve at that time. Fortunately for me, the job worked out, and I didn't have the need to quit. But be aware of losing a large amount of your bonuses to taxes.

 

[owlegrad]

Because the government is taking money, under threat of force, from my paycheck.

I think you are trying to make a point but I am too dense to get it. It is true that taxes are not optional but I am curious if you think taxes should be optional? If so, do you think governments in general shouldn’t exist? What would you purpose instead?

 

[WorthlessOxygen]

Taxation is theft.

I must be thinking of the wrong user but I could have sworn you were a federal employee?

 

[Lexington2012]

The real kicker here is that if you take the sign on bonus the govt will take about half of it in taxes so you actually net way less than 50k. Then if you get fired or leave before the term is up you have to pay back the full amount.

You can send in an amended return and get those taxes back.

 

[mentos]

Someone reported in a other thread the pay is $11/hr less. $11/hr is $22,880 per year or $45,760 after two years which essentially nullifies the sign up bonus. Then after 2 years you're still making $11/hr less. Whoever signs up for this gets Punk'd.

 

[WorthlessOxygen]

Someone reported in a other thread the pay is $11/hr less.

11 dollars "less than where it needed to be" was the actual statement. A later comment implied it was ~$63/hr which would be about average or slightly higher in my area though I don't know how it compares regionally.

 

[mentos]

We can all agree that it's not worth it. Those two years at Wags will shorten your life span.

 

[quickpic007]

Someone reported in a other thread the pay is $11/hr less. $11/hr is $22,880 per year or $45,760 after two years which essentially nullifies the sign up bonus. Then after 2 years you're still making $11/hr less. Whoever signs up for this gets Punk'd.

Punk'd is kind of harsh for 162,600 annual comp including half of 2 year bonus (not including 4%401kmatch) don't you think?
Just one year ago this job was only paying the 137K salary, no sign on, while WG was laying off as well (not here)

11 dollars "less than where it needed to be" was the actual statement. A later comment implied it was ~$63/hr which would be about average or slightly higher in my area though I don't know how it compares regionally.

Attention to detail! Yes 74/hr is what I would like to be seeing for CVS/WG in this area. Which comes to around 153K. Taking this WG job with this bonus puts you at 162.2K, but drops after two years....(that is when you leave)...

I was offered 72 by CVS no bonus in a more "popular" location in the region, so 74 is reasonable here...

We can all agree that it's not worth it. Those two years at Wags will shorten your life span.

Its worth it!

 

[projektreverb]

Honestly, what’s the over:under for them terminating you a day before your two years is up?

 

[PharmtoCS]

Honestly, what’s the over:under for them terminating you a day before your two years is up?

Could you sue them for bait-and-switch if they do this?

 

[projektreverb]

Could you sue them for bait-and-switch if they do this?

I’d imagine Walgreens has a nice legal department for this. I imagine no one would work together against them since we’d have no way of connecting.

 

[Heroic Combo]

I was offered a position with 50k sign on just yesterday.

The store is obviously in bad shape. I'm worried about the sign on bonus. I'm wondering what you guys think. Should I try to negotiate the terms of the contract in any way (2 years)? It sounds like ~60/hr roughly, 84 hours, sign on bonus up front (33k after taxes?) and moving expenses. I'm thinking that if I invest the money in a smart way, I can keep it protected and grow the amount over 2 years. This would be due to being worried about them terminating my contract to get the 50k back.

What do you all think? If I was considering this, what are good areas to try and negotiate..? Pay rate, length of term, amount of bonus, relocation expenses.. etc.

Thanks

 

[alpha12]

I was offered a position with 50k sign on just yesterday.

The store is obviously in bad shape. I'm worried about the sign on bonus. I'm wondering what you guys think. Should I try to negotiate the terms of the contract in any way (2 years)? It sounds like ~60/hr roughly, 84 hours, sign on bonus up front (33k after taxes?) and moving expenses. I'm thinking that if I invest the money in a smart way, I can keep it protected and grow the amount over 2 years. This would be due to being worried about them terminating my contract to get the 50k back.

What do you all think? If I was considering this, what are good areas to try and negotiate..? Pay rate, length of term, amount of bonus, relocation expenses.. etc.

Thanks

You have to pay it back they fire you? I thought it's only if you voluntarily leave.

 

[Heroic Combo]

You have to pay it back they fire you? I thought it's only if you voluntarily leave.

If that was true I will probably take the position. I will be clarifying tomorrow.
Assuming they can take it back for termination before 2 years, I was considering asking them to spread the 50k out over my salary for 2 years, without the possibility of having to ever re-pay it.

 

[Xenophylia]

50k Ahhh.....who can put a price on the human soul?

 

[Alexis_pharmD]

I was offered a position with 50k sign on just yesterday.

The store is obviously in bad shape. I'm worried about the sign on bonus. I'm wondering what you guys think. Should I try to negotiate the terms of the contract in any way (2 years)? It sounds like ~60/hr roughly, 84 hours, sign on bonus up front (33k after taxes?) and moving expenses. I'm thinking that if I invest the money in a smart way, I can keep it protected and grow the amount over 2 years. This would be due to being worried about them terminating my contract to get the 50k back.

What do you all think? If I was considering this, what are good areas to try and negotiate..? Pay rate, length of term, amount of bonus, relocation expenses.. etc.

Thanks

imo, this is a really nice offer. Store might be in bad shape because there is no PIC. But once you start working there, you can make it a decent store. Just don't get yourself in to store politics. Try to maintain nice relations with your store manager and techs. 60/hr comes to 131k salary + your bonus. It's a really nice salary in current market. I would try to negotiate vacation time. If they can add one extra week of vacation. I did with CVS (couple years ago and spouse did with Walgreens). you have to work atleast 5 years to get one extra week of PTO. So, that's really nice if you can get that from day one. Apart from that, your offer looks really nice to me. I wish you good luck. Invest your bonus wisely.

 

[Heroic Combo]

imo, this is a really nice offer. Store might be in bad shape because there is no PIC. But once you start working there, you can make it a decent store. Just don't get yourself in to store politics. Try to maintain nice relations with your store manager and techs. 60/hr comes to 131k salary + your bonus. It's a really nice salary in current market. I would try to negotiate vacation time. If they can add one extra week of vacation. I did with CVS (couple years ago and spouse did with Walgreens). you have to work atleast 5 years to get one extra week of PTO. So, that's really nice if you can get that from day one. Apart from that, your offer looks really nice to me. I wish you good luck. Invest your bonus wisely.

Thank you for your input. I agree with what you're saying! I could probably make it good. I like the idea about vacation time.

I had an idea, for if the 50k was re-claimable by Walgreens. Spread the 50k out over 2 years and just add 25k/yr to my salary? However there is something to be lost not having the ability to invest the bonus straight away.

 

[CarpetTable45]

But once you start working there, you can make it a decent store.

Not if your bosses do not spend enough to give you adequate help. I would assume they are looking for someone to take the liability and work them to the bone.

 

[quickpic007]

I was offered a position with 50k sign on just yesterday.

The store is obviously in bad shape. I'm worried about the sign on bonus. I'm wondering what you guys think. Should I try to negotiate the terms of the contract in any way (2 years)? It sounds like ~60/hr roughly, 84 hours, sign on bonus up front (33k after taxes?) and moving expenses. I'm thinking that if I invest the money in a smart way, I can keep it protected and grow the amount over 2 years. This would be due to being worried about them terminating my contract to get the 50k back.

What do you all think? If I was considering this, what are good areas to try and negotiate..? Pay rate, length of term, amount of bonus, relocation expenses.. etc.

Thanks

You can negotiate mostly on vacation (this is true for cvs), please remember 4 weeks pto is the norm for new hires at WM and CVS. 3 weeks vacation plus 5-7 holidays is also acceptable. If they are generous on moving expense even better. I just passed on an offer just the same as yours except it was 63/hr, 50k bonus up front. no relocation.

Please remember WG is tough now with flu, covid shot, covid test, no staffing. Still worth it for 160K a year plus though.

I would lean heavily on your gut after interviewing DM and asking current district RPH about them. They will make a huge difference, but also remember DM is a high turnover position.

Personally, I am waiting it out just a bit longer for more.

 

[alpha12]

You can negotiate mostly on vacation (this is true for cvs), please remember 4 weeks pto is the norm for new hires at WM and CVS. 3 weeks vacation plus 5-7 holidays is also acceptable. If they are generous on moving expense even better. I just passed on an offer just the same as yours except it was 63/hr, 50k bonus up front. no relocation.

Please remember WG is tough now with flu, covid shot, covid test, no staffing. Still worth it for 160K a year plus though.

I would lean heavily on your gut after interviewing DM and asking current district RPH about them. They will make a huge difference, but also remember DM is a high turnover position.

Personally, I am waiting it out just a bit longer for more.

63/hr is 131k. not 160k.

 

[WorthlessOxygen]

63/hr is 131k. not 160k.

$137k based on those hours then add $25k per year for bonus since it's a $50k bonus for 2 year commitment.

 

[alpha12]

$137k based on those hours then add $25k per year for bonus since it's a $50k bonus for 2 year commitment.

ok but thats only true if you plan on staying for two years only.

 

[Heroic Combo]

You can negotiate mostly on vacation (this is true for cvs), please remember 4 weeks pto is the norm for new hires at WM and CVS. 3 weeks vacation plus 5-7 holidays is also acceptable. If they are generous on moving expense even better. I just passed on an offer just the same as yours except it was 63/hr, 50k bonus up front. no relocation.

Please remember WG is tough now with flu, covid shot, covid test, no staffing. Still worth it for 160K a year plus though.

I would lean heavily on your gut after interviewing DM and asking current district RPH about them. They will make a huge difference, but also remember DM is a high turnover position.

Personally, I am waiting it out just a bit longer for more.

I think I'm about to take the job. I talked to the DM today and actually got a great vibe from the conversation, and my intuition is leading me right now for sure. I was dealing with another DM initially and he really wasn't that great to talk to about the job. The DM who has the district with the job is actually a pharmacist and apparently goes and actually works in stores at times. They have a solid rxom just placed, 2 solid techs, and another 2 starting out. There's no staff rph or rxm (obviously), so it's all floaters who can't hang with the volume. It's the same volume as my current store (350/day), just testing and drive through added. The tech hour budget is like 30/wk higher even. They have 5 techs who are still hanging in.

I DID find out about the bonus having to be repaid and such circumstances. Let's say you fail after 1 year. You only repay half. So this nullifies the idea of them targeting you right before the 2 years is up. If they did that, the bonus repayment would be next to nothing.

 

[alpha12]

I think I'm about to take the job. I talked to the DM today and actually got a great vibe from the conversation, and my intuition is leading me right now for sure. I was dealing with another DM initially and he really wasn't that great to talk to about the job. The DM who has the district with the job is actually a pharmacist and apparently goes and actually works in stores at times. They have a solid rxom just placed, 2 solid techs, and another 2 starting out. There's no staff rph or rxm (obviously), so it's all floaters who can't hang with the volume. It's the same volume as my current store (350/day), just testing and drive through added. The tech hour budget is like 30/wk higher even. They have 5 techs who are still hanging in.

I DID find out about the bonus having to be repaid and such circumstances. Let's say you fail after 1 year. You only repay half. So this nullifies the idea of them targeting you right before the 2 years is up. If they did that, the bonus repayment would be next to nothing.

That's pretty weak that they make you repay if you get fired. I understand having to repay if you leave voluntarily but that seems ridiculous. Is that even legal?

 

[DH1987]

We can all agree that it's not worth it. Those two years at Wags will shorten your life span.

Yeah, there's no way in hell I can do WAGs for much longer. I fear I'm gonna have a heart attack before I turn 40 at this rate. Then all that money I made is gonna go on medical bills.

 

[Heroic Combo]

I took the job. Salary high 130k's (maximum possible starting rate at Walgreens), 50k sign on bonus up front, relocation/moving costs paid. 2 year contract.

I actually talked to a manager who transferred far across the US for a bonus and WAG paid relocation fees. He said his house closing cost was paid (tens of thousands), and the full costs for moving his family and belongings (also tens of thousands), bringing that expense up to closer to 6 digits. Apparently the relocation costs have to be paid back too, in the same scaled manner, if you were to fail or quit or be terminated. So just that right there depending who you are is way higher than the sign on bonus and would be ALOT to have to pay back

 

[awval999]

I honestly see the large sign on bonuses as the compensation path forward for the chains.
For all the reasons stated above.

Most stores can be filled by new grad at $45-$50. But you will always have the PIC needs in the boonies. And for those you go at $60/hr + $$$$ bonus. The $25k/year bonus is only $12/hr. Not so long ago those places would have paid $72/hr. But a fat $50k sign on bonus sounds nice for a new grad wanting to work him or herself to the bone for 2 years, get a nice car, pay off some student loans, etc. As many alluded to above a well, it's a trap. As the DM you don't have to worry about the new hire finding a new job with less hours. You have them committed with the bonus they already spent. If I was the DM I would make sure the bonus was all up front. I'd even push corporate for a 4 year $100k sign on bonus.

 

[Dred Pirate]

I got a postcard today promoting a 35K bonus, for positions in 4 cities in Iowa, but you have to stay 2 years without having to repay it. Therefore lies the trap.

what cities? (not that I want to go - just curious as to if they are the, well, less than desirable areas) - I guess they have to be the less desirable to necesitate a bonus in a state with two rph schools and only 3 million people, but I guess it is what level of suck)

 

[dgile03]

what cities? (not that I want to go - just curious as to if they are the, well, less than desirable areas) - I guess they have to be the less desirable to necesitate a bonus in a state with two rph schools and only 3 million people, but I guess it is what level of suck)

I took a 50,000 Walgreens bonus for Louisville, Kentucky. They are also offering for Jeffersonville, Indiana and other areas in Kentucky plus Nashville Tennessee.

 

[quickpic007]

I took a 50,000 Walgreens bonus for Louisville, Kentucky. They are also offering for Jeffersonville, Indiana and other areas in Kentucky plus Nashville Tennessee.

Whats the hourly wage? WG in my area still not budging from 63 ish for manager plus the 50k

 

[VA77]

So I like to keep my interview skills sharp and talked with a Wags DM today and this was the offer.

64 hour Staff Pharmacist
35k 2 year bonus
$45 hr
4% 401k

I currently make $65 an hour so good luck finding people.

BTW, my niece just graduated PA school and was given an offer of $61 hour and hasn't even passed her boards.