Signing Bonuses Lure Recent Grads

More entry-level hires may find themselves with deeper pockets in 2008, according to the National Association of Colleges and Employers.

The association's Job Outlook 2008 survey found 54% of employers plan to use signing bonuses when recruiting new hires, up from 47% in 2007.

Previous NACE studies and surveys suggest that employers often underestimate their need to use signing bonuses. According to Marilyn Mackes, NACE executive director, approximately 47% of employers said they planned to offer bonuses in 2007, but more than 54% actually used them. If the pattern holds, Mackes expects more than 60% of employers could use bonuses when hiring 2008 graduates.

Respondents who planned to offer a bonus to all entry-level hires expected to spend on average $4,450 per bonus - a 25% increase from 2007.

The survey found that two-thirds of employers using bonuses only expect to offer them to select candidates, and the amount of the bonus varies depending on several factors, including degree subject and level.

Source: Job Outlook 2008 ,

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