I recently signed a FT offer with a BB bank. I am trying to do some financial planning for the remainder of my senior year, and was wondering when signing bonuses typically get paid out.
How do sign-on bonuses work?
Sign on bonuses are paid out differently by each bank. The most straight forward way to find out is to ask your HR representative. The three most common times for the bonus to come is:
- With the first paycheck
- A few months prior to starting
- Shortly after signing
What is the typical signing / relocation bonus?
For undergrads and MBAs - the typical signing bonus is $10,000. In most instances - tax will be applied and you may end up with closer to ~$6,000.
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