What Will You Spend Your Signing Bonus On?

Question

As full-time start date begins in a few months, I was wondering what everyone is using their signing bonus towards. Are you using it for rent? A nice trip?

I'll probably use it on a nice trip but not really sure.  Advice is appreciated.

The Pharma Guy · Accepted Answer

I'm using part of mine for a cool trip to South America and the other part I'm using to get my parents something. I know it seems cheesy, but they enabled me to do a masters at a European target school without having to rack up debt and this allowed me to find a good paying first job. It isn't that they couldn't really afford it and this was a HUGE financial sacrifice, but a sacrifice no less. Even if its something small like buying your mother flowers, your father a bottle of a spirit he loves or even taking them out to dinner. A gesture like this is the least one can do for them

DrRollTide · Answer

My 401K

Addinator · Answer

Specifically - spend the bulk of that money on good shoes and/or outerwear. Good shoes make a huge difference both in looking professional and, generally, provide better long term value (especially ones you can get re-soled).

AnalystMonkey2769 · Answer

AsatarAnalystMonkey2769ricottacheesewhen i started at GS/MS NYC my after tax signing bonus was more like 6K (10K pretax) - note that signing bonus is taxed like a bonus i.e. much higher than regular salary. you should use this for your first month's rent/deposit/fee, since you will need to pay all of those things before you have received your first real paycheck

im pretty sure this is correct. from my understanding my signing bonus (when i receive it) will be taxed the same as performance bonus, roughly ~40%

also for incoming first years, what bonus do you think we'll get?

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What Will You Spend Your Signing Bonus On?

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What Will You Spend Your Signing Bonus On?

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