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The penalty varies by jurisdiction, but most places treat it as a traffic violation that can result in a fine ranging anywhere from $50 to $200 or so, depending on local laws. Some states or countries are stricter than others - a few might even add points to your driving record or require traffic school. It's one of those infractions that cops enforce pretty inconsistently; you might get cited in one area and ignored in another, but it's definitely worth signaling anyway since it's a basic safety thing that takes zero effort.
It's not always just a simple fine - enforcement really depends on whether an officer actually pulls you over, and that varies wildly by location and situation. I got stopped once for failing to signal a lane change on a highway, and the officer wrote it up as a moving violation that ended up costing me around $120 in fines plus court fees. The thing is, some jurisdictions treat it pretty lightly while others are stricter, and if you're in an accident at the time, the consequences can be way more serious since it becomes part of liability.
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