5 jobs offering massive signing bonuses right now

Bethany BironAug 13, 2022, 01:31 IST

Mohammad Khursheed/Reuters

Companies around the country are offering signing bonuses to attract talent amid the ongoing labor crisis.
Potential hires can make up to $75,000 in signing bonuses in industries like pharmacy and trucking.

As the labor crisis rages on, companies are increasingly trying to lure talent by offering thousands in signing bonuses to sweeten the deal.

From healthcare to hospitality, some of the country's largest industries are touting new benefits, including hefty signing bonuses upon hiring. Many are even including bonus amounts in job listings, hoping to stand out in a sea of available positions.

We took a look at the sectors offering the biggest signing bonuses right now.

Pharmacy

Mohammad Khursheed/Reuters

Pharmacists across the country remain in high demand as labor strains that began during the pandemic, when workers were tasked with COVID-19 testing and vaccinations, continue.

In an attempt to alleviate staffing shortages, Walgreens recently announced a signing bonus of up to $75,000 to attract prospective pharmacists. The amount is a significant increase over its average bonus of between $30,000 and $50,000, The Wall Street Journal reported.

A Walgreens spokesperson told Insider's Avery Hartmans that the bonuses are "one of many steps to address pharmacy staffing in some areas."

Competitors like CVS and Rite Aid also have featured signing bonuses in online job postings recently.

Pharmacists across the country remain in high demand as labor strains that began during the pandemic, when workers were tasked with COVID-19 testing and vaccinations, continue.

A Walgreens spokesperson told Insider's Avery Hartmans that the bonuses are one of many steps to address pharmacy staffing in some areas.

Competitors like CVS and Rite Aid also have featured signing bonuses in online job postings recently.

Education

Johner Images/Getty Images

As schools around the country struggle to fill vacancies, many are turning to signing bonuses to attract educators ahead of the upcoming academic year.

Districts ranging from North Carolina's Stanly County to Hartford, Connecticut are offering signing bonuses of up to $10,000 for new teachers. In Colorado, many districts are holding hire-on-the-spot job fairs and giving hiring bonuses of $2,500 to fill the shortage, Chalkbeat reported.

While schools already struggled with hiring before the pandemic, challenges during COVID-19 have only worsened the dearth of teachers, creating a scarcity that some are calling a crisis.

"I have never seen it this bad," Dan Domenech, executive director of the School Superintendents Association, told The Washington Post earlier this month. "Right now it's number one on the list of issues that are concerning school districts ... necessity is the mother of invention, and hard-pressed districts are going to have to come up with some solutions."

As schools around the country struggle to fill vacancies, many are turning to signing bonuses to attract educators ahead of the upcoming academic year.

While schools already struggled with hiring before the pandemic, challenges during COVID-19 have only worsened the dearth of teachers, creating a scarcity that some are calling a crisis.

I have never seen it this bad, Dan Domenech, executive director of the School Superintendents Association, told The Washington Post earlier this month. Right now it's number one on the list of issues that are concerning school districts ... necessity is the mother of invention, and hard-pressed districts are going to have to come up with some solutions.

Healthcare

A health worker draws blood at a COVID-19 testing station in Spain in 2020.Susana Vera/Reuters

Healthcare workers remain in high demand, as the pandemic continues to wreak havoc on the national population, and amid new public health crises like monkeypox. The World Health Organization estimates there will be a shortage of 15 million health workers by 2030.

In Washington state, local outlets reported that many job listings for nurses, psychologists, and radiologists now include signing bonuses between $1,000 and $15,000.

Meanwhile, in New York, Gov. Kathy Hochul announced earlier this month that the state will provide bonuses of up to $3,000 for healthcare workers to alleviate a "severe shortage."

"They're the foundation of our medical system," Hochul said at a press conference. "They got us through the last two-and-a-half years. There's no doubt about it — thank God for them — but it did come at a physical cost and emotional cost, and they're overworked and underpaid."

In Washington state, local outlets reported that many job listings for nurses, psychologists, and radiologists now include signing bonuses between $1,000 and $15,000.

Meanwhile, in New York, Gov. Kathy Hochul announced earlier this month that the state will provide bonuses of up to $3,000 for healthcare workers to alleviate a severe shortage.

They're the foundation of our medical system, Hochul said at a press conference. They got us through the last two-and-a-half years. There's no doubt about it — thank God for them — but it did come at a physical cost and emotional cost, and they're overworked and underpaid.

Trucking

Truck driver David Alvarez looks out the window at a long line of trucks in Long Beach, California.Emma Cosgrove/Insider

Trucking companies are offering signing bonuses upwards of $15,000, as the industry attempts to alleviate a national driver shortage spurred by last year's supply chain crisis.

As a result, average trucking salaries are climbing, following a significant boost in 2021. The median salary for truck drivers increased to $69,000 in 2021, up 19% from 2019, according to the 2022 American Trucking Association Driver (ATA) Compensation Study.

Further, the study found that 54% of fleets offered signing bonuses, and 96% offered referral bonuses.

"The data supports what industry sources have been saying for some time – the driver shortage has been great for drivers who saw their salaries rise last year," ATA Chief Economist Bob Costello said in a statement. "Pay increases were broad based across the industry, for example between salary increases and bonuses, the average truckload driver saw a wage increase of 10.9% last year."

Trucking companies are offering signing bonuses upwards of $15,000, as the industry attempts to alleviate a national driver shortage spurred by last year's supply chain crisis.

Further, the study found that 54% of fleets offered signing bonuses, and 96% offered referral bonuses.

The data supports what industry sources have been saying for some time – the driver shortage has been great for drivers who saw their salaries rise last year, ATA Chief Economist Bob Costello said in a statement. Pay increases were broad based across the industry, for example between salary increases and bonuses, the average truckload driver saw a wage increase of 10.9% last year.

Hospitality

The elevator inside the Atlanta Marriott Marquis.Nicholas Widener for Insider

This summer's travel boom has caused a surge in demand for hospitality workers to help keep up with the influx of travelers.

Major hotel chains like Marriott are advertising positions with signing bonuses of $2,500 for roles like guest services, front desk managers, and line cooks.

According to the American Hotel & Lodging Association, 97% of respondents in a recent survey indicated they are struggling with staffing shortages, listing housekeeping as the most critical need.

The shortage continues after a record 1 million restaurant and hotel workers quit their jobs in November 2021 as part of the "Great Resignation," with many citing low pay and poor conditions as reasons for leaving.

Leisure and hospitality is the lowest paid industry tracked by the Bureau of Labor Statistics, with average hourly earnings of $20.22 in July 2022, up from $19.20 in November 2021.