Introduction
When it comes to jobs and careers, one wants only the best. We try to take as many perks as we can from our line of work. Right from choosing the ideal career and company, the hunt is real. Moreover, when we find the companies we’re looking for, we also try to pull out all the incentives we can. Whether it’s before signing the offer letter or during your tenure with the company, there is always a benefit to gain that varies from company to company. While we’re well aware of bonuses being an influential incentive, there is more to it than just a festive one or raises and promotions. Today, we focus on signing bonuses and how they work. Here we will see about Coast Guard Signing Bonus.
Coast guard signing bonus
As you’re aware, a coast guard is prime security at the coast. As simple as can be defined, they enforce laws, protect and defend the nation from the coastline. While this is a great deal of a profession, it is also a risky one. Just like the military, it takes individuals full of courage to join the force. Moreover, there isn’t always a huge demand for this line due to the risk involved. This is one of the major reasons why coast guard are offered a signing bonus. Read on to find out more about the signing bonus for the same.
What is a signing bonus?
Firstly, what is a signing bonus? It is a bonus given while accepting the offer from a company and agreeing to be an employee. When it comes to coast guards, a signing bonus is offered when they decide for sure that they want to join the force and are selected by their superiors. It may also be called a form of closing in or sealing the contract of being a part of a company. Once you receive a signing bonus, you’re legally bound to the company as a part of them. While the amount and payment methods differ, many companies adopt this policy for multiple reasons. In simpler and optimistic terms, it is the amount you receive to sign the offer letter that you may have given an interview.
Why is it given to coast guards?
So you may be wondering, a signing bonus is great then, isn’t it? Yes, indeed. However, there are reasons why you’re given a signing bonus. While in the case of business companies it may be to avoid letting your talent go to a rival company, it works differently for coast guards.
To attract applicants
The major reason any company gives a signing bonus is to attract talent. For other companies, the need to attract talent would be to avoid going with competitors. However, in the case of coast guards, it is to fill in positions and increase the number of applications. Considering the kind of duty this is, not many people apply in the first place. To change that factor, a signing bonus is offered.
To avoid rejection and negative response
Again, considering the type of job, even though a few applicants come in, they tend to back off. And it’s only natural that when they have explained duties in more depth, they become shaky. Many applicants then tend to reject the offer letter which leads to a loss for the coast guards. To avoid having to start from square one due to a negative response, the signing bonus acts as an incentive to increase the chances of saying yes to the job.
Due to the environment and type of work
The job involves risk and needless to say, a lot of sacrifices. There is a strict form of conduct followed along with a tight schedule. It isn’t like the 9 tob5 jobs where you expect nothing after 5 pm. You have to always be on the lookout. Considering the magnitude of the task, a signing bonus is given as a form of appreciating their acceptance to this line of work.
What is the signing bonus and how does it work?
The signing bonus for coast guards could be anything between 5000$ to 10,000$. This depends on the position you’re applying for, your qualifications, and your recommendations. Often, this payment is given in a lump sum which means you don’t have to worry about constantly keeping track of installments. Moreover, this payment is made not when you enlist yourself but when you’re confirmed or re-enlisted. There could be times where you want to withdraw your name after enlisting or you may not be selected. Therefore, the signing bonus is given after being re-enlisted or when you’re just a step away from the offer letter. As mentioned before, once you receive a signing bonus, you can’t go back. It is a form of contact between you and the recruiter. However, even without a signing bonus, once you sign the offer letter, you’re naturally part of the team as per the policy. So a signing bonus is beneficial to you!
Conclusion
A signing bonus may be beneficial for coast guards. However, while it is good to consider it as a perk, also look at the job and if you’re really up for it. The signing bonus is just to start you off. What follows will be your commitment and skill that will keep you in the long run!
FAQs
- Are signing bonuses over 10,000$?
This is rarely the case. Only for those applying for really superior positions, there will be a higher signing bonus. This is due to the increase in risk and responsibility. Additionally, the qualifications required may also be more specific and higher in rank.
- Can you replace a signing bonus with another incentive?
Mostly no. A signing bonus acts like evidence of your contract with the company. Therefore, it won’t be feasible for the company to exchange the same for other incentives
