Relocation and sign-on bonuses are perfect opposites
One varies by prevalence, the other by amount
We recently introduced relocation bonus data in Compa, and the first thing I noticed is the amounts don’t vary much at all.
The spread from median P1 to P6 (the entire individual contributor spread) is only $4,500 across all engineering.
Sign-on bonuses, on the other hand, range significantly: $35,000 by the same measure.
But the opposite is true for prevalence, or how often offers include each bonus.
Relocation bonuses vary a lot by level: 58% for P1 versus only 2% for P6. Sign-on bonuses vary little by level: 67% for P1 versus 56% for P6.
Check it out:
Cash is king for college grads 🍜🍺
Hiring new college grads is all about getting cash in their pockets ASAP.
P1 has the highest prevalence of any level for both relocation and sign-on bonuses, with well over half of offers including them in the last 12 months.
After I graduated college in May I started my new job in June, but was shocked to realize my first paycheck wouldn’t hit until the end of that month, in July.
I had to survive on Mac n Cheese (for the nutrition) and Bud Selects (for the St. Louis summer heat) until my direct deposit hit weeks later…
Cash up front goes a long way for college grads, especially if they have to survive the summer before buying a one-way flight.
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