Negotiating Relocation
I need some help on figuring out what to expect in a relocation package. I have been offered a relocation in the same state. I have 5 years experience. What should I expect? I am a homeowner.
Your question is almost impossible to answer because there are so many different relocation packages that could be offered - it all depends on the company and what' s in their particular package. The general idea, however, is that you shouldn' t be out any money, generally speaking, in order to make the move. A minimum kind of relocation package would cover the cost of moving your possessions from point A to point B. Sometimes employers will cover the cost of temporary housing if you' re in the process of looking for a new house, selling the present one, and living in temporary quarters in the meantime. Some will pay closing costs, some won' t. Some will pay for a couple of visits to the new location to do house hunting. Some will pay for the spouse to come along, some won' t. Some will even "buy" your old house if no one else does after a specified period of time. There are just too many possibilities to say with any certainty what you should expect. If I were you, I' d simply go by the rule that you don' t want to be out any of your own money as a result of the move if you can help it. The cost of moving, what we found when we relocated was that most companies offered an allowance toward moving costs, which may or may not cover the entire cost of moving. Personally, the impression I get is that fewer companies these days are willing to pick up the entire cost of relocating someone--that may vary by field or by how badly they want you, or by how available or scarce talent is in their area. It may then be that the employee has to decide whether or not the new job is worth any out-of-pocket expense. But, there most definitely is no standard answer to this question! We moved several years ago, but our experience was that companies were offering anywhere from $1,000 to $6,000 toward moving costs. We got $3,000, which covered just about the cost of the move itself. Of course, today that would be more. We found only one company whose "standard" package included virtually 100% of the cost of relocating--trips for the spouse to go house hunting, temporary housing allowance, etc. | |
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