The 15 Tech Companies With the Highest Signing Bonuses But do these bonuses really make employees more loyal?
Opinions expressed by Entrepreneur contributors are their own.
Some of today's top tech companies offer candidates some major signing bonuses. However, do these bonuses actually increase employee loyalty? Taking a look at bonuses and employee retention rates of major tech firms such as Facebook, LinkedIn and Amazon, a recent study by online career adviser Paysa sought to uncover how well these bonuses really work.
Turns out, while a signing bonus can be a great tool to recruit new employees, it might not be enough to keep them around for long. Facebook offered employees an average signing bonus of more than $45,000, however, the typical tenure of these new employees was just over two years. The case is similar for ecommerce giant Amazon, whose average signing bonus for employees is $41,340, yet these people only tended to stay at the company for barely two years.
So, what's the sweet spot for offering a signing bonus that will make employees want to stick around? According to the research, employees had the longest average tenure at Microsoft -- around three and a half years -- and were getting an average signing bonus of $20,191.
To learn more, click through the slideshow to find out the 15 tech firms with the highest signing bonuses.
Snap Inc.Snap Inc. offers employees an average $23,705 signing bonus, and the average employee retention rate is about 24 months.
AmazonComing in second for the highest signing bonus is ecommerce giant Amazon, which usually offers employees $41,340. Yet, the typical tenure of these new employees is also around 25 months.
DropboxYou might think $32,833 for a signing bonus would do the trick to increase employee loyalty, but Dropbox employees tend to stay less than 23 months.
On average, Salesforce has a 23-month retention rate, even when it offers its new employees a signing bonus of $28,314.
AppleWhen it comes to employee loyalty, looks like Apple is doing something right. Employees typically stay more than 37 months and the average signing bonus is $27,201.
FitbitThe wearables brand offers its employees a pretty hefty signing bonus of $25,459. It doesn't seem to have too much of an influence -- on average, employees stay for just 24 months.
Similar to Fitbit, LinkedIn offers its new employees a $25,418 signing bonus. Employees usually stay for 26 months.