A Golden hello is a signing bonus offered to an employee of a rival firm, usually an executive. The term is also sometimes used more generally to refer to a signing bonus paid to a sought-after recruit.
In the UK a 'golden hello' is a bonus or financial incentive, not for executives, but "to encourage graduates to enter the teaching profession and teach priority secondary subjects in maintained schools". The value varies according to the subject with Science and Maths attracting £5000 whereas music is offered £2500. The incentive is paid by the TDA teacher development agency.
In the United States, golden hellos are typically offered to high-ranking executives by major corporations and may be valued in the millions of dollars. They are said to have become "larger and more common" starting around the mid 1990s. Insurance/finance company Conseco paid Gary Wendt $45 million when he joined as CEO in June 2000. Kmart promised $10 million to Thomas Conaway as CEO. Global Crossing gave Robert Annunziata a $10 million signing bonus in 1999, but he held his post as CEO for only 13 months, and was not required to return any of the $10 million.
- Definition of 'Golden Hello'
- Free Dictionary
- golden hell. Eligibility criteria for trainees starting courses in AY2009/10 education.gov.uk
- Pay Without Performance - the Unfulfilled Promise of Executive Compensation by Lucian Bebchuk and Jesse Fried, Harvard University Press 2004, (p.130)
- Gilded Greetings Elizabeth MacDonald| forbes.com| 15 May 2007,
- DOUGLASS, ELIZABETH (March 18, 2000). "Global Crossing's Annunziata Gets $160 Million for 13 Months on Job". Articles.latimes.com.
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