Q & A Table of Contents
How Can I Get A Signing Bonus?
From: Gus, Budd Lake, New Jersey
Question: I need some advice on the best method to ask for a signing bonus.... Here's the situation. I have been offered a position and plan to accept a it to start a manufacturing facility for a US based firm overseas. The company has already set the stage on salary by stating that they cannot match my current salary, however they have mentioned that as results become evident, increases will follow. Several employees that I have spoken with confirm this company policy. They have hinted that the company does not usually pay for expenses other than the transportation to the location.
My issue is this, as I want this position and can and will accept a lower salary, how is the most opportune way to break into a conversation about signing bonuses. It is not their policy to offer this. They have said, that I am the perfect person for this undertaking; they have no other candidates; and they are eager to get the ball rolling on the project. I understand that I can bring up relocation expenses, etc., but I am interested in your advice.
Response: The truth is often the most convincing argument. You can say that you are enthusiastic about the project, that you are convinced it will succeed, and because of those beliefs you are willing to accept a starting salary below your current scale.
You also need to say that the costs of relocating represent a significant factor to you, so that despite your willingness to work for a lower paycheck, you need sufficient resources to enable you (and your family) to make the move without suffering an economic setback.
If company policy is not to pay for relocation, then you can use the negotiation strategy of being creative: suggest a sign-up bonus, a no-interest loan which will be forgiven if specific performance objectives are met, or some other kinds of ways the company can reduce your pain without setting a precedent that goes against their policy.
Being honest about your interests is important at every stage of the negotiation, but doing so at the earliest point is particularly important. If the company finds it can push you around on relatively small issues, when it comes to major issues, they may crush you with a bulldozer.
Good luck,
Steve
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