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11:00 pm
November 25, 2011
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Buck Inspire
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Hi all,
If you had a friend who referred you to a new job, with a nice raise, would you give them a referral fee as a token of your appreciation? If so, how much is kosher?
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1:12 am
November 26, 2011
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Hunter @financiallyc
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I wouldn't pay a referral fee, but perhaps a really nice meal at a quality restaurant is a better way to show your gratitude. I know I would feel very awkward if presented with cash for simply suggesting the best person for the job. Keen to hear other perspectives on this.
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4:39 am
November 26, 2011
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20s Finances
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Nope – I recently landed my friend a job at my old employer (for more money than I am currently making) and there was no exchange. He said thank you, but I didn't expect anything in return. It was just my way of helping him out. I don't think a referral fee is necessary or expected.
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5:09 am
November 26, 2011
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Frugal Confessions
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I am with everyone else so far and agree with Hunter that a nice dinner could be warranted.
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5:09 am
November 26, 2011
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Frugal Confessions
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I am with everyone else so far and agree with Hunter that a nice dinner could be warranted.
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5:17 am
November 26, 2011
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Penny Pinching Professional
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I agree with everyone else who has said that you shouldn't give your friend a referral fee, and would also add that many companies, especially larger ones, will give their employees referral bonuses if they help recruit new talent.
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6:12 am
November 26, 2011
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Miss T @ Prairie Eco-Thrifter
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I with Hunter too. A gift of gratitude like a dinner or something would be just fine. I don't think any of my friends would even expect a referral fee.
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7:09 am
November 26, 2011
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MoneyIsTheRoot
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Yeah a nice dinner is quite sufficient. Some companies offer referral fees, mine offers quite a bit actually. However, I wouldnt expect money from a friend if I did them a favor…I wouldnt call that being friendly lol.
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7:33 am
November 26, 2011
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Buck Inspire
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Thanks all for the great advice! Guess with the holidays coming, was in a giving mood. In my mind, I wouldn't have landed the job or the raise without my friend's referral so I thought I'd give him a cut. Appreciate the help and hope you all had a wonderful Thanksgiving!
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10:27 am
November 26, 2011
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PK @ DQYDJ
| | The Intersection of Politics, Economics and Personal Finance. | |
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How big is the company? Like Penny Pincher said, your friend might already have a referral bonus coming his/her way… especially if you're getting a raise (it's probably based on the level you got hired into). Even if he or she doesn't, this situation doesn't really call for you to pay for the referral. That said, definitely dinner or an event (like a sports game).
Also, write a Thank You card, but I'm sure you've got that covered already.
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10:06 am
November 27, 2011
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Buck Inspire
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Thanks PKamp3! I actually suggested during the interview to give my friend a referral bonus. He said he would look into it. But in case that falls through, I wanted to make sure my friend was covered some way.
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10:11 am
November 27, 2011
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Barbara Friedberg
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Hunter @financiallyc said:
I wouldn't pay a referral fee, but perhaps a really nice meal at a quality restaurant is a better way to show your gratitude. I know I would feel very awkward if presented with cash for simply suggesting the best person for the job. Keen to hear other perspectives on this.
THis is what I would do! If the friend was in financial trouble I might give them a gift card to Target!
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2:51 pm
November 27, 2011
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WorldofFinance
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As others have pointed out, a nice dinner would suffice. :) Congrats again Buck!
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3:19 pm
November 27, 2011
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MyJourneytoMillions
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Congrats on the new job! I would say that dinner would be perfect or a small actual item but cash might be weird.
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5:49 pm
November 27, 2011
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krantcents
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Congratulations on the new job! I would probably buy him lunch or dinner.
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7:04 pm
November 27, 2011
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Jeffrey Trull
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I would say a dinner or another non-cash gift would make sense. Giving someone cash in a situation like this always feels a bit awkward, but giving a gift of equal value is much easier in my opinion.
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5:00 am
November 28, 2011
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MoneyBeagle
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Yeah, I don't think cash is in order and as others said, their company may indeed be shooting them over some of that (we have a referral program at our company that would pay us between $1,500 and $4,000 for each position we refer that gets filled). But, definitely a thank you could be in order in terms of a dinner or maybe a gift card so they could take their family out (if you weren't in a position to see them often)
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9:19 am
November 28, 2011
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Khaleef @ KNS Financial
| | Fat Guy, Skinny Wallet | |
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Congratulations on the new job! As others have said, I think that dinner and a gift would be better than cash.
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11:07 pm
November 28, 2011
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Buck Inspire
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Hi Barb, Mary, Evan, KC, Jeffrey, MB, and Khaleef,
Appreciate the feedback. You guys are the bestest! 
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