A North Texas-based company is set to offer hefty signing bonuses up to $25,000 to find new employees.
BNSF Railway wants to fill 3,500 hourly positions across the country, which could include the Fort Worth location. They will offer signing incentives from $15,0000 up to $25,000 to be paid out over a three year period.
Such bonuses are becoming more common across North Texas due to the low employment rate in the area, said Rakesh Malhorta of Express Employment Professionals.
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“We are noticing an increasing trend of companies offering sign on bonuses for people to come to work. The primary driver for that is the low unemployment rate in our area,” Malhorta said.
A lower unemployment rate and more open skilled positions make for a good job market for job searchers.
“We are seeing those not as much in general positions. We are seeing more in skilled trade and skilled positions – more in middle management-type positions,” Malhotra said. “We are seeing more of that in the logistics-type industries.”
Malhorta said while it's an exciting time for those thinking about changing careers, you shouldn’t be blinded by bonuses. Make sure the job is a good fit for you in salary and benefits after the bonus.
“Do a lot of research. Yes, people may be throwing money at you, but is it money coming at you for a short term period?” Malhorta said. “These trends are only going to continue and people have to remember that these bonuses are one-time bonuses. It does not mean that your rate of pay necessarily going to be different.”