T. Rowe Price Referral Bonus

T. Rowe Price offers an employee referral program that includes bonuses for successful hires, particularly in high-demand areas such as technology and product roles. Here's a detailed overview of the referral bonus program:

Overview

The referral bonus program at T. Rowe Price is designed to incentivize employees to help attract top talent by referring qualified candidates. This program is especially beneficial for tech and product roles, which are critical to the company's growth and innovation.

Bonus Structure

1. Tech/Product Roles:

   • Referral Bonus: Employees can earn a referral bonus ranging from $3,000 to $5,000 for successful hires in tech and product positions. The exact amount depends on the level and criticality of the role.
   • Payout Timeline: The bonus is typically paid out in two installments. The first half is paid upon the new hire's completion of 90 days of employment, and the second half is paid after they complete one year with the company.

2. Other Roles:

   • Referral Bonus: For non-tech roles, the referral bonus usually ranges from $1,000 to $2,500. The bonus amount varies based on the position's level and urgency.
   • Payout Timeline: Similar to tech roles, the payment is made in two parts—half after 90 days and the remaining half after one year.

Eligibility

• Referrer Eligibility: All full-time employees are eligible to participate in the referral program, except those directly involved in the hiring decision for the referred position.
• Referred Candidate Eligibility: The referred candidate must be new to T. Rowe Price and not have applied within the past 12 months.

Process

1. Submission: Employees submit referrals through the company's internal referral portal, providing detailed information about the candidate.
2. Review: The recruitment team reviews the referral and proceeds with the standard hiring process.
3. Hiring: