Signing Bonuses!

[North Shore]

I never, ever, thought that I'd see signing bonuses in Canada..

viewtopic.php?f=7&t=119517

[sstaurus]

Good to see, I hope the guys who are there now are also getting compensated with some kind of retention bonus... However a better salary in the first place wouldn't require bonuses.

[valleyboy]

Bet it doesn't cover the training bond !!!!!!!

[Flying Low]

Good to see, I hope the guys who are there now are also getting compensated with some kind of retention bonus... However a better salary in the first place wouldn't require bonuses.

The employers aren't stupid. If they can retain pilots with signing and retention bonuses, why would they increase salaries. A lot easier to rescind bonuses when they don't need them. The industry has always been cyclic.

[justwork]

Bet it doesn't cover the training bond !!!!!!!

Did you read the ad?

[valleyboy]

12 - month training bond in effect for Captains. (no up front funds required).

I did read the ad:

I did and it does not mention the amount of the bond. I was pondering if the signing bonus would cover the bond if did not complete your contract. It seems a bit of an oxymorn to offer a signing bonus and then say there is a training bond. Makes much more sense to eliminate both.

[digits_]

Makes much more sense to eliminate both.

Not at all. This way, if you stay a year, you'll be 10k ahead. If you leave earlier, then yeah, they might cancel each other out.

[valleyboy]

Well I still think training bonds are an abused tool. If there were good 2 way contracts used I can understand it but most training bonds are just that, bondage and one sided and usually totally inflated out of proportion. I understand where they came from and it's pilots that created the situation and opened the door but not to at least include a bottle of KY, it's absurd.

It's logical to think that training bonds would be a gateway to allow salaries to creep up to a reasonable level because of the perceived stability but it seems that's not the case. I always felt lower salaries were the "invisible" training bonds but it seems I was mistaken and companies are double dipping. With what is going on today training bonds should be disappearing, in a couple cases it's true but for the most part the die hards are holding on. It seems that we are a group of whores and they know it

As a foot note - I have never done a bond or ever will so I just sit back and watch the insanity and prostitution.

[sampsonmcd]

Even a flight school is offering a $2400 signing bonus now. Good sign of things to come.

[BE20 Driver]

Well I still think training bonds are an abused tool. ...
I always felt lower salaries were the "invisible" training bonds but it seems I was mistaken and companies are double dipping. With what is going on today training bonds should be disappearing, in a couple cases it's true but for the most part the die hards are holding on. It seems that we are a group of whores and they know it

As a foot note - I have never done a bond or ever will so I just sit back and watch the insanity and prostitution.

I couldn't agree more. I'm sure if you scour AvCanada going back a decade, there's a post from me arguing for retention bonuses and raises as a carrot to get people to stay rather than a bond and punishment if you leave.

I've had to work for some crappy companies. One of the most crappy I worked for had bonds. Had there been a good retention bonus, I likely wouldn't have jumped on the first offer I could to get out of there.

[valleyboy]

Another way to look at signing bonuses is that they are cheaper in the long run. Company offers signing bonus and it's a one time thing. If they gave that to you in salary it stays with you, so, while it sounds good it lowers your salary in the long term.

[rigpiggy]

We have had a bit of a revolving door for fuellers. The Boss recently signed a bonus check for a year to the date of employ"won't say how much" . "if you stay it is yours". We still have buddy.he also got a bit of a raise.