Right now I am extremely blessed to be paid off of the admin account at my company. I have been since 1 January, but I am not sure how long it will last. My company is extremely understanding of the Government's budget issue and knows many of us are out of work right now because of it. I have gotten job offers in my company that I have had to turn down because of location. My husband works 2 hours away so I can't. We have 3 young kids and I can't have someone at my house at 4am so I can get to work on time and stay for the afternoon and evening events too. Has anyone else been paid on admin and had something come up? I'm just scared to lose my job. ALSO if I quit, I would owe my company $8k until the end of May. After that it would be $4k until next year. I really like the company I work for, but I'm starting to freak out!
Sorry, I would owe them money because they paid off my college debt to the last company I worked for. They paid it off to the company before them and because I keep getting great offers, the debt keeps following me. I'm still in school, but I pay my own way now and will enver let a company pay for it again if I am not 100% sure I'm staying with them. They $8k came to me in the form os a signon bonus last year.
Clarification - being paid off of the admin account means my company is paying me my salary to be at work and look for a new job, but I don't have a contract to charge to so the money is coming from their admin fund. I am being paid, but most companies only let people stay on for 30 days when being paid from admin...I have been on 3 months now. The sign on bonus was to pay back my other company for tuition. I took classes in 2007 and 2008 working for company A. I did not stay on long enough to fulfill my term with them so I owed $8k. Company B paid them off and I had to work for company B for 2 years, where I only stayed for 15 months. So when Company C made me an offer, they paid me the $8k in the form of a sign on bonus to pay off Company B. I have to work for company C for 12 months to satisfy half of the sign on and 24 months to fulfill the full bonus.
Yes, I'm being paid a great salary right now, but if I lose that we are screwed.
Something just doesn't seem right in this whole mess. Are you an employee of this company or some type of subcontrator? If they're paying you to find a new job, and you find one then why the penalty?
Regardless, no one should constantly be switching from job to job. You need to stay put and fullfill your obligations.
If you're making a great salary, then start putting away the extra money incase something "comes up".
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Good luck with your job situation! Things have a way of working out, so hopefully something great will come along. If you are open to securing an income stream from home, the business I'm in has helped countless families through rough financial times. Wishing you all the best!
Why would you owe them?
Sorry, I don't understand being "paid off of the admin account" either. Are you working right now? On administrative leave?
If the $8K is a sign on bonus, why would you have to pay it back? I've never heard of having to pay back a sign on bonus. I know people who've left a company less than 6 mos after starting work and didn't have to pay back a sign on bonus. I've gotten sign on bonuses, but never with a stipulation like that. Sounds more like a loan than a bonus.
College tuition reimbursement usually has to be refunded to the company IF you leave the company VOLUNTARILY within the 12 months in which the company paid your tuition. So, if you've been going to college for the last four years, only the most recent year's tuition has to be repaid to the company. This is standard policy for the industry I'm in. I'd check your company's policy again to see what you will owe. Chances are, if you just hang in there and let them lay you off you may not owe anything. I wouldn't quit if I were you.
Good luck.
