Remember, a sign-on bonus is to keep you whole as you trade one set of compensation programs for a new one. Medium to large signing bonuses may be paid over a period up to a year to protect the companys interests.
The Chase Freedom credit card currently offers $200 credit card sign up bonus after spending $500 on purchases in the first 3 months from opening your account. The Chase Freedom credit card allows you to earn 5% cash back on up to $1,500 in purchases each quarter in rotating bonus categories.
Signing bonuses might be as low as $1,000, but as one moves up the management ladder, they are likely to run anywhere from $20,000 to $100,000, Chapman says.
Earn 75,000 bonus miles and 5,000 Medallion Qualifying Miles (MQMs) after spending $5,000 in purchases within three months of account opening. You’ll also earn a $100 statement credit after your first purchase with the card within three months of opening the account.
Bank of America® Premium Rewards® credit card. Earn unlimited 2 points for every $1 spent on travel and dining purchases and unlimited 1.5 points per $1 spent on all other purchases If you’re a Bank of America Preferred Rewards client, you can get a 25%-75% rewards bonus on every purchase.
Sign-up bonus: 75,000 Membership Rewards Points. Spending requirement: $5,000 in 3 months. The points are worth about 1.6 cents/point. You can get $140 (estimated value) of airline incidental fee credit ($200 face value, and actual value is estimated by 70% of face value) twice in the first year.
TD Bank: $150 or $300 bonus. Bonuses are available to residents in the District of Columbia, Pennsylvania and every state on the east coast except Georgia. TD Bank is based in Wilmington, Delaware. In Bankrate’s review of TD Bank’s financial health, it earned four out of five stars.
The median bonus for points and miles cards in our database is 25,000 miles or points with a median spending threshold of $2,000. In comparison, the median bonus for a cash back card is only $100 with a $500 spending threshold.
Beyond the college graduate market, signing bonuses are more common: A recent WorldatWork survey found that a growing 76% of employers are using signing bonuses—which can be 5% to 10% of the base salary for middle managers and professionals—to attract key employees.
Additional Enlistment Bonuses. Enlistment Bonus for Physical Fitness Assessment (EBPFA) — $2,000 Applies to all Active Component recruits who pass their first official RTC PFA (conducted during week 2) with a score of Satisfactory-Medium or better. Enlistment Bonus for High School (EBHS) — $3,000 Applies to all Active Component recruits who graduated high school.
Why Might an Employer Choose to Pay a Signing Bonus?