I want to know how much is a reasonable ask in terms of a moving allowance. Ask to be reimbursed. Better to uproot the kids now than when they’re in high school. I expect this to progress over the next 2 months. If you're flexible and do your research, it's possible to tap into job markets outside of your area. Pitch your services: Show what the organization stands to gain . ... terminated while in the process of negotiating … Keep in mind that companies tend to vary in what they offer, and larger companies have more standardized policies. The relocation package is tailored to your needs and stuff and it's pretty good from what I've heard. Now that you’ve landed the job, it’s time to start thinking about relocation. Cookies help us deliver our Services. Quote an AirBnB for 90 days near where you’ll plan to live, factor gas mileage of car and distance, and hotel stays along the way. The framework for the relocation package would be below: (which seems extremely extremely generous), Related moving expenses (cars, items, etc), Home Advertising Fees (staging, advertising, etc. There are six key components of any relocation package… I’ve heard of companies doing each and depending on which it is could impact things. You’ve been offered your dream job – it’s just not in your city. In my mind, I am hoping for around 20% of my base salary to start, but don’t want to come off greedy and also don’t want to undercut myself either. How to negotiate a relocation package Marjorie on March 20, 2013 “I once negotiated a relo package that included the cost of moving my client’s horses across country and paying for a … I know there is no state income tax in Florida, which will be a nice savings, but the housing prices in nice areas with good school districts are booming right now, so some of that is definitely cancelled out. Tl;Dr: I'm moving halfway across the country to accept a position at $70,000. Right now, I have told my management that I am discussing and considering it with my family, but they haven’t secured an office space yet and these are preliminary discussions. This post is about being prepared to negotiate before I start the process. Looks like you're using new Reddit on an old browser. I would have to sell my house in san antonio. The average relocation package in the United States in 2012 equaled $97,166, according to WorldWideERC.org. Join our community, read the PF Wiki, and get on top of your finances! I'll try to keep this brief. By Paola Singer Special to Relocation.com. … If you know what to negotiate when relocating … Given my salary of $70k, how much would be a reasonable ask? Ask for what you want and negotiate a package that will benefit both parties. Here’s how to do it. Or would it be better to ask that the company pay the temporary housing costs directly? When you negotiate your executive compensation package, you should seek to accomplish several important and distinct goals: Secure your own basic financial needs, Secure a highly valuable equity stake for yourself in the company, Negotiate … I don't plan to move my household goods as the cost of moving them would be higher than the cost of replacing them. I was told this will be negotiable, so not sure if they will ask me what I want, or offer. 3. During contract negotiations, ask about the company’s policy on relocation allowances. But I'm not sure what a fair or reasonable range would be for travel expenses. allowances that aim to cover the costs of relocation and make the process smoother Round up and ask for that as you’ll just submit the expenses to them. The one thing I am looking for advice on is, there would be a 3 year relocation bonus that would provide me incentive to stay. A lot of companies use the phrases interchangeably. Most small businesses would be far more willing to reimburse than pay upfront. I know most big companies have standard relo packages … We are eager to do this, but want to make sure that financially we make a good decision. I am probably going to end up hiring a lawyer to help me with the legal paperwork to also provide me some protection as well. I requested the company split the estimated $10,000 cost of moving with me. In fact, many companies will assist new employees with relocation packages. I told him I simply need to be able to drive there (I'm in New Mexico) and that I would want temporary housing while I search for a place to live. You can also negotiate your eligibility for a relocation incentive if your new worksite is within 50 miles, but you still must change your residence to accept the offer. Employment. You may get more, but the ultimate cost of your package depends on your personal needs. If it’s a bonus to be used as relo, remember you’ll be taxed on it but you’ll get to keep what you don’t use. 1. … I haven't been hired yet, but if I am, I would be moving across the state with a wife, 2 kids, 2 dogs. Negotiating Relocation Bonus Employment My company has approached me about relocating to Florida from New York as we are expanding and they are looking for some senior managers to help establish … I am awaiting the formal job offer, but I've begun the process. My expected salary is $70,000. However, negotiating a relocation package is sometimes necessary. A lot of companies use the phrases interchangeably. Much like salary negotiation, negotiating a relocation package is a valuable practice and can be the catalyst to a successful and hassle-free move. While it’s a big step, sometimes relocating for work is your best bet for long-term career opportunities and a higher salary. Relocating is expensive, time-consuming, stressful. You need to be aware of your needs first and then you can negotiate the job transfer relocation package with your employer. Here's how to go about the process. This is the time to discuss the whole package: salary, bonus, benefits, retirement savings, and relocation. On an average, people who negotiate based on facts and numbers tend to receive a better package. Garber recommends two important tips to negotiate a relocation package without souring the relationship with your company. Ask yourself the hard questions Your move … Press question mark to learn the rest of the keyboard shortcuts. Therefore, compensation can differ by industry, city or even position in the company (executives tend to get more). I expect my son to struggle a little with anxiety and making new friends as he’s a little reserved at first, but once he gets comfortable in a new situation, he usually settles in nicely. I’d love to get some solid advice for people who have been in this position. If it’s actual relo, just get a quote on things. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Has anyone negotiated relocation packages? My firm is in the financial sector and pays very well. Yeah it’s a pretty good package, realtor fees would already be a lot. Although most firms have standard relocation packages depending on the employee's rank and experience, there is always room for negotiation. I have about $2,000 set aside in my bank right now. Nonetheless, the following expenses are commonly covered: Besides, … They selected me after the interview process. Also remember that you can negotiate for more leave, greater flexibility, lesser hours or better relocation packages – and not just the salary. As a precondition for accepting my respective offers, I asked that each company allow my family to take two or three “ Join our community, read the PF Wiki, and get on top of your finances! Flexible Schedules and Telework Policies … Is there any tax benefit to being reimbursed? The only job I've held that had relo packages was the army. Are they offering it as relo or as a signing bonus to cover relo? I would imagine it might be a sliding scale each year as well. A little about myself...my wife and I have always dreamed of moving to Florida, so this seems like a golden opportunity to do so. Amazon caps base salary for most job at around $165–175k, so make sure to see whether you’re near the cap before you negotiate. Well, think about relocation package and relocation assistance like that. Of course negotiate - take a while for wife to find job, extra flights or pay for kids’ tickets, equip home office for now, and anything else you can think of, More posts from the personalfinance community. Make sure they "gross up" any reimbursement, which means they pay the taxes owed. Following the best practices above will ensure that your relocation package … Thoughts?? I'm hoping to get 30-90 days of temporary housing and an additional stipend for the cost to drive to Virginia. Negotiating a relocation package along with your new job offer can help offset this cost, making the job opportunity worth the move. Also, should I ask for a lump sum? Now that you know how to negotiate relocation for a … Part of the concern is I don't want to be unreasonable. The whole point of negotiating a relocation package is protecting your interests. … However, you negotiate the payment, be aware that there are pro’s and con’s to each — and make the case for the one that suits your situation best. You should compare how much you will be making to the average salary in that area for a similar job. He told me that he hasn't hired someone out of the area before and asked how much I'd be looking for. When I was offered the position, there was no mention of relocation assistance. If I stayed in cheap hotels for 30 days and asked for a stipend for travel, it would be at least $5,000. I may not have the necessary funds to afford temporary housing while I search for permanent resident AND pay the deposit for a new apartment. This is the first time ive used reddit for something like this and its been very nice being able to see different viewpoints and support. "Remember that relocation assistance is part of your benefits package… New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. We discussed relo, but we didn't discuss a bonus. the market isn't terrible, but not wonderful. Once you start negotiating a relocation package, just keep in mind it’s a one-time deal (in most cases). Press question mark to learn the rest of the keyboard shortcuts. By using our Services or clicking I agree, you agree to our use of cookies. The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. Negotiating Job Relocation as a Benefit Because relocation expenses are a one-time cost for a company, negotiating a relocation package is sometimes easier than negotiating a higher salary. One of the keys to an easy relocation is to make sure that you, your significant other, and your family are all on board with the decision. After you have a moving estimation, make a list with your requests for a job transfer relocation package and discuss it with your employer. What to look out for when negotiating an Amazon job offer package. Reddit's expanding alumni page may not be the only sea change in store. So, whether someone calls it a relocation package or relocation … Press J to jump to the feed. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. ), 1 trip for Hotel/Flights/Rental Cars to go house hunting, 1-3 month short term hotel/rental for any displacement, Flights back for my wife and I back to NY once per year for next 2 years after move to visit family. A good relocation package is not only the key to a smoother transition; it can also determine your quality of life after the move.. So it’s much easier to ask for a bigger package than to ask for a higher income. I don't want to ask for an unreasonably high amount of money, because I wouldn't want to lose the job opportunity. UNDERSTAND THE COMPANY’S RELOCATION POLICY Before you begin your negotiations, it’s important to take a minute to understand the employer’s current relocation … Fwiw, I got an updated offer latter shortly before starting after I decided I wanted the cash and the relocation … I completed my interviews and have begun the process of getting hired by a company in Virginia. I started to work for Amazon on January 28, 2018 — that was about three weeks after I, my lovely wife and our cat landed at Vancouver International Airport. The relocation package includes all the moving costs for you and your family members. That's why if you're going to move for a job, you'll need to negotiate a relocation package that ensures you come out unscathed financially. I brought up a relocation package during one of my interviews and the CEO seemed amenable. I was told there would not be any relocation … ... or not to accept relocation assistance or take a severance package. How to Negotiate a Relocation Package. The relocation package that the company is offering may or may not fulfill your and your family’s moving … Corporate Moves: A Guide to Negotiating a Relocation Package. We have 2 small kids, 5 and 7 and we would be essentially uprooting our family for this, which of course is a risk we would be taking. Really? Reimbursement for moving expenses is a taxable benefit. My company has approached me about relocating to Florida from New York as we are expanding and they are looking for some senior managers to help establish the firm’s culture in a new location and essentially help build a second headquarters. Negotiating a relocation package. I said the same thing to my wife. In this guide, you’ll get tips for negotiating job relocation package and making the job opportunity worth the move. Be any relocation … Corporate Moves: a Guide to negotiating a relocation package is protecting your interests,. ’ re in high school and pays very well financially we make a good decision signing bonus to cover?! They pay the taxes owed there was no mention of relocation assistance hoping get! Means they pay the temporary housing costs directly over the next 2 months package the. And your family members d love to get 30-90 days of temporary housing costs directly people who negotiate based facts! Ask about the company pay the temporary housing costs directly from the personalfinance community if they ask... To gain packages was the army now than when they ’ re in school. Pitch your services: Show what the organization stands to gain, how much you will be negotiable so. Your move … Reddit 's expanding alumni page may not be cast, posts! Be posted and votes can not be posted and votes can not cast. 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Wiki, and relocation firm is in the United States in 2012 $! Your personal needs make a good decision moving halfway across the country to accept a position at $..