With consultation from VCU Human Resources or the Office of Faculty Recruitment and Retention/VP for Health Sciences, as applicable, schools/units may offer a sign-on bonus as an incentive to prospective employees.
Schools/units are responsible for funding sign-on bonuses. A sign-on bonus may be appropriate if at least one of the following criteria is met:
- VCU is competing with another prospective employer, i.e. there is an active, competing offer from another organization
- The candidate is uniquely qualified or will fill a highly technical or specialized role
- VCU seeks to bridge any differences in base compensation, such as candidate salary expectations vs. what can be supported, that manifest during the search process.
- Moving and Relocation expenses need to be offset (i.e. an individual is relocating from greater than 50 miles away).
- Standard industry practice dictates sign-on bonuses for the type of position.
Generally, the request to offer a sign-on bonus should be part of the hiring proposal.
Instructions: Before completing the Sign-on Bonus Agreement, please read below:
- The hiring department must complete all information listed in parentheses. If the sign-on bonus is for a University and Academic Professional, reference to nine-month faculty (listed in item 2 of the agreement) may be deleted.
- All sign-on bonuses require approvals from the respective Vice President/Dean or Designee. In accordance with the Board of Visitors (BOV) bylaws, direct appointments to the President and any “extraordinary” appointment require additional approval from the President.
- The Sign-on Bonus Agreement must be signed by all applicable parties and is required for processing the bonus.
- A copy of the completed Sign-on-Bonus Agreement must be submitted to email@example.com for processing.
- Bonus installments will be included with salary payments in regularly scheduled pay periods. In order for the bonus payment to be made upon hire, the required new hire forms must be submitted to hrdocs in a timely manner. Payment of a sign-on bonus prior to the hire date may be approved by exception by contacting VCU Human Resources or the Office of Faculty Recruitment and Retention/VP for Health Sciences.