Google and Apple Sign On Bonus to makeup for Sign On Bonus Payback for another company
Say you accept a job to a non-FAANG company where you accepted a sign on bonus.
You start job and Sign On Bonus is paid with a payback provision of either 100% of the bonus if you leave before 1 year or pro-rated payback.
The money hit your account. You were taxed supplemental income.
You then get a job offer from Apple or Google (Microsoft folks can chime in too if they'd like).
You'll be required to payback Company A the Pre-Tax amount of your sign on bonus.
Company B (Apple, Google, or Microsoft) will negotiate a sign on bonus with you and you'll be taxed again.
How do you effectively negotiate a sign on bonus that:
1) helps you payback the pre-tax obligation to Company A within the payback timeline
2) Still get the value of a sign on bonus from Company B in excess to what you owe Company A
Note: I get that when you fill out taxes for this example, the government will owe you the taxes that were taken out from the sign on bonus that was paid for Company A (I think) because you did not get to keep that income.
#signonbonus #joboffers #joboffer #applecareers #applecareer #googlecareer #googlecareers
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Some companies sign on bonus is meant to make up for a bonus a candidate may foregoing or unvested equity.
In both cases, that’s future income the candidate would pocket.
In this scenario, the 2nd company is paying the “price” for you to break your content AND make you happy.
This sometimes happens in sports.
A college football coach has a contract with a university with a buyout clause where he owes the university of he leaves prior to the end of the term.
A new university (or professional franchise) May chose to pay the first university in the amount of that buyout + whatever it takes to hire that coach against current market rates.