A sign-on bonus is a financial incentive offered by employers to attract new employees. This one-time payment is typically given when a candidate accepts a job offer and can vary in amount based on the position, industry, and the candidate's experience. Sign-on bonuses are often used in competitive job markets to encourage candidates to choose one company over another. These bonuses can help offset relocation costs, cover lost wages from a previous job, or simply provide a financial boost as the new employee starts their role. Companies may also include conditions, such as staying with the company for a certain period, to ensure they retain the new hire.