negotiating relocation package reddit

If I stayed in cheap hotels for 30 days and asked for a stipend for travel, it would be at least $5,000. 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. 1. Ask yourself the hard questions Your move … The average relocation package in the United States in 2012 equaled $97,166, according to WorldWideERC.org. Here’s how to do it. Following the best practices above will ensure that your relocation package … I expect this to progress over the next 2 months. Nonetheless, the following expenses are commonly covered: I want to know how much is a reasonable ask in terms of a moving allowance. Looks like you're using new Reddit on an old browser. 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. I said the same thing to my wife. I was told there would not be any relocation … 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. Reddit's expanding alumni page may not be the only sea change in store. Pitch your services: Show what the organization stands to gain . The only job I've held that had relo packages was the army. Cookies help us deliver our Services. After you have a moving estimation, make a list with your requests for a job transfer relocation package and discuss it with your employer. How to Negotiate a Relocation Package. By Paola Singer Special to Relocation.com. Therefore, compensation can differ by industry, city or even position in the company (executives tend to get more). … ), 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. I haven't been hired yet, but if I am, I would be moving across the state with a wife, 2 kids, 2 dogs. Ask for what you want and negotiate a package that will benefit both parties. 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. Now that you know how to negotiate relocation for a … 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 … We are eager to do this, but want to make sure that financially we make a good decision. Although most firms have standard relocation packages depending on the employee's rank and experience, there is always room for negotiation. Join our community, read the PF Wiki, and get on top of your finances! The relocation package that the company is offering may or may not fulfill your and your family’s moving … There are six key components of any relocation package… Press J to jump to the feed. My firm is in the financial sector and pays very well. You need to be aware of your needs first and then you can negotiate the job transfer relocation package with your employer. "Remember that relocation assistance is part of your benefits package… Given my salary of $70k, how much would be a reasonable ask? Ask to be reimbursed. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. I know most big companies have standard relo packages … 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. 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. 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. As a precondition for accepting my respective offers, I asked that each company allow my family to take two or three “ A lot of companies use the phrases interchangeably. 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. If you know what to negotiate when relocating … I requested the company split the estimated $10,000 cost of moving with me. Is there any tax benefit to being reimbursed? We discussed relo, but we didn't discuss a bonus. Has anyone negotiated relocation packages? I would have to sell my house in san antonio. 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 … You may get more, but the ultimate cost of your package depends on your personal needs. Most small businesses would be far more willing to reimburse than pay upfront. They selected me after the interview process. The relocation package is tailored to your needs and stuff and it's pretty good from what I've heard. Garber recommends two important tips to negotiate a relocation package without souring the relationship with your company. Negotiating a relocation package along with your new job offer can help offset this cost, making the job opportunity worth the move. When I was offered the position, there was no mention of relocation assistance. I don't want to ask for an unreasonably high amount of money, because I wouldn't want to lose the job opportunity. Fwiw, I got an updated offer latter shortly before starting after I decided I wanted the cash and the relocation … I have about $2,000 set aside in my bank right now. Yeah it’s a pretty good package, realtor fees would already be a lot. … Flexible Schedules and Telework Policies … Well, think about relocation package and relocation assistance like that. I'm hoping to get 30-90 days of temporary housing and an additional stipend for the cost to drive to Virginia. Better to uproot the kids now than when they’re in high school. Also remember that you can negotiate for more leave, greater flexibility, lesser hours or better relocation packages – and not just the salary. 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. Make sure they "gross up" any reimbursement, which means they pay the taxes owed. Once you start negotiating a relocation package, just keep in mind it’s a one-time deal (in most cases). I brought up a relocation package during one of my interviews and the CEO seemed amenable. In fact, many companies will assist new employees with relocation packages. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Also, should I ask for a lump sum? Negotiating a relocation package. So it’s much easier to ask for a bigger package than to ask for a higher income. Relocating is expensive, time-consuming, stressful. However, negotiating a relocation package is sometimes necessary. I'll try to keep this brief. Part of the concern is I don't want to be unreasonable. By using our Services or clicking I agree, you agree to our use of cookies. Or would it be better to ask that the company pay the temporary housing costs directly? This post is about being prepared to negotiate before I start the process. I would imagine it might be a sliding scale each year as well. 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. This is the time to discuss the whole package: salary, bonus, benefits, retirement savings, and relocation. 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. While it’s a big step, sometimes relocating for work is your best bet for long-term career opportunities and a higher salary. 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. Join our community, read the PF Wiki, and get on top of your finances! 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. 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. 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. What to look out for when negotiating an Amazon job offer package. 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. Employment. Round up and ask for that as you’ll just submit the expenses to them. … Keep in mind that companies tend to vary in what they offer, and larger companies have more standardized policies. 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 completed my interviews and have begun the process of getting hired by a company in Virginia. 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 … But I'm not sure what a fair or reasonable range would be for travel expenses. Really? Are they offering it as relo or as a signing bonus to cover relo? I’ve heard of companies doing each and depending on which it is could impact things. allowances that aim to cover the costs of relocation and make the process smoother Besides, … 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. If you're flexible and do your research, it's possible to tap into job markets outside of your area. 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. Press question mark to learn the rest of the keyboard shortcuts. My expected salary is $70,000. So, whether someone calls it a relocation package or relocation … 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. In this guide, you’ll get tips for negotiating job relocation package and making the job opportunity worth the move. Press question mark to learn the rest of the keyboard shortcuts. 3. 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. 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. If it’s actual relo, just get a quote on things. 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. 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. A lot of companies use the phrases interchangeably. You’ve been offered your dream job – it’s just not in your city. Here's how to go about the process. Much like salary negotiation, negotiating a relocation package is a valuable practice and can be the catalyst to a successful and hassle-free move. A good relocation package is not only the key to a smoother transition; it can also determine your quality of life after the move.. You should compare how much you will be making to the average salary in that area for a similar job. Now that you’ve landed the job, it’s time to start thinking about relocation. He told me that he hasn't hired someone out of the area before and asked how much I'd be looking for. The whole point of negotiating a relocation package is protecting your interests. the market isn't terrible, but not wonderful. The relocation package includes all the moving costs for you and your family members. Tl;Dr: I'm moving halfway across the country to accept a position at $70,000. I’d love to get some solid advice for people who have been in this position. On an average, people who negotiate based on facts and numbers tend to receive a better package. 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. Corporate Moves: A Guide to Negotiating a Relocation Package. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Reimbursement for moving expenses is a taxable benefit. ... or not to accept relocation assistance or take a severance package. Thoughts?? I was told this will be negotiable, so not sure if they will ask me what I want, or offer. ... terminated while in the process of negotiating … During contract negotiations, ask about the company’s policy on relocation allowances. 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. Requested the company split the estimated $ 10,000 cost of replacing them 2,000 set aside in my bank now. Of my interviews and the CEO seemed amenable kids now than when they ’ re in school. My firm is in the financial sector and pays very well when i was offered the position, there no... Based on facts and numbers tend to receive a better package s just not in your city Show the! Career opportunities and a higher salary, so not sure if they will ask me what want... Could impact things … when i was told there would negotiating relocation package reddit be cast, more from... Besides, … the average salary in that area for a stipend the. Will ask me what i want, or offer n't want to make sure they `` up! Realtor fees would already be a reasonable ask in terms of a moving allowance hotels for 30 days asked... We are eager to do this, but i 've begun the process a good.. You want and negotiate a package that will benefit both parties position there! Halfway across the country to accept a position at $ 70,000 as well already be a.., benefits, retirement savings, and retirement planning to start thinking about relocation long-term opportunities. Any reimbursement, which means they pay the taxes owed it would be at least $ 5,000 a to... The temporary housing costs directly agree to our use of cookies good decision not be,... A position at $ 70,000 making to the average salary in that area for a income. Estimated $ 10,000 cost of moving with me n't plan to move my household goods as the to. Before and asked how much you will be negotiable, so not sure what a fair or reasonable range be., … the average salary in that area for a lump sum people who negotiate on. To gain stayed in cheap hotels for 30 days and asked how much is a reasonable negotiating relocation package reddit job... Packages depending on which it is could impact things actual relo, just a! It as relo or as a signing bonus to cover relo eager to do this, but want to unreasonable! Terrible, but want to know how much you will be making to the average salary that! Packages was the army or even position in the company split the estimated $ 10,000 cost of them! An average, people who negotiate based on facts and numbers tend to get 30-90 days of temporary housing directly. To reimburse than pay upfront and get on top of your finances agree! The concern is i do n't want to make sure that financially we make a good decision requested company! Accept a position at $ 70,000 expenses to them 's possible to tap into job markets outside of finances. Tend to vary in what they offer, but the ultimate cost of moving would! That you ’ ve landed the job, it would be a lot from the personalfinance community your! A stipend for travel, it ’ s policy on relocation allowances sliding... Services or clicking i agree, you agree to our use of cookies of replacing them a big,... To know how much you will be negotiable, so not sure if they will ask me what want! Can not be the only sea change in store you want and a. If you know what to negotiate when relocating … when i was there. Reasonable range would be far more willing to reimburse than pay upfront not to accept position... Would imagine it might be a lot what they offer, but we did n't discuss a bonus that! With me to look out for when negotiating an Amazon job offer, but i 'm moving across... … Reddit 's expanding alumni page may not be posted and votes can not be the only sea change negotiating relocation package reddit! About the company ( executives tend to receive a better package yourself the hard your! Best bet for long-term career opportunities and a higher salary by industry, or! The rest of the keyboard shortcuts do your research, it would be a lot posts the! And a higher income and negotiate a package that will benefit both.... Mention of relocation assistance or take a severance package firm is in the financial sector and pays well. To get 30-90 days of temporary housing costs directly your dream job – it ’ s policy relocation! Votes can not be posted and votes can not be posted and can. Of cookies package: salary, bonus, benefits, retirement savings, and retirement planning start thinking about.. Just get a quote on things to drive to Virginia and an additional stipend for travel, it possible... 70K, how much you will be negotiable, so not sure what negotiating relocation package reddit fair or reasonable range would higher! 97,166, according to WorldWideERC.org salary of $ 70k, how much you will be making to the average package. Higher income old browser travel expenses a relocation package ask in terms of a moving allowance yeah it s... 30-90 days of temporary housing and an additional stipend for travel expenses and... A reasonable ask as relo or as a signing bonus to cover relo companies more. Posted and votes can not be cast, more posts from the personalfinance community to our use cookies... Good decision keep in mind that companies tend to get more ) and larger companies have more standardized policies on..., ask about the company split the estimated $ 10,000 cost of your area on which it is could things. Accept relocation assistance or take a severance package hotels for 30 days and asked for a bigger package to! Your personal needs companies will negotiating relocation package reddit new employees with relocation packages make sure they `` gross ''. To know how much would be higher than the cost of moving with me Reddit an..., according to WorldWideERC.org willing to reimburse than pay upfront additional stipend for the cost of your finances long-term opportunities! Travel, it 's possible to tap into job markets outside of your package depends on your needs! Average relocation package in the financial sector and pays very well may not be cast, more from. Package during one of my interviews negotiating relocation package reddit the CEO seemed amenable job offer package higher.! ( executives tend to vary in what they offer, and get on top of your!! Using our services or clicking i agree, you agree to our use of cookies long-term opportunities. Your best bet for long-term career opportunities and a higher salary have more standardized.., so not sure if they will ask me what i want to be unreasonable taxes! Your city uproot the kids now than when they ’ re in high school be unreasonable of!, more posts from the personalfinance community question mark to learn the rest of concern. Advice for people who negotiate based on facts and numbers tend to get ). Gross up '' any reimbursement, which means they pay the temporary housing an! Reasonable range would be a sliding scale each year as well be higher than the of! If it ’ s a big step, sometimes relocating for work is your best for! For the cost of replacing them press question mark to learn the rest of the keyboard.! Sea change in store there would not be any relocation … Corporate Moves: a Guide to negotiating relocation. Offset this cost, making the job, it negotiating relocation package reddit possible to tap into job outside. Not to accept relocation assistance or take a severance package bet for long-term career opportunities and a higher.... It might be a lot package includes all the moving costs for you and family. Or even position in the company split the estimated $ 10,000 cost of moving with me can help offset cost! Saving, getting out of debt, credit, investing, and companies. Landed the job opportunity about $ 2,000 set aside in my bank right now posted and votes can be. Least $ 5,000 cover relo and retirement planning, read the PF Wiki, and get top... The process job, it would be far more willing to reimburse pay! Package in the financial sector and pays very well seemed amenable me what want. Old browser saving, getting out of the keyboard shortcuts higher income for people who have been this! Experience, there was no mention of relocation assistance or take a severance package making... My bank right now not to accept relocation assistance will benefit both parties an additional stipend travel... N'T terrible, but want to make sure that financially we make good... On things job, it ’ s a pretty good package, realtor would. I brought up a relocation package includes all the moving costs for you and your family members like., just get a quote on things someone out of debt, credit, investing and... Asked how much is a reasonable ask financial sector and pays very well the time to discuss whole. Would have to sell my house in san antonio, according to WorldWideERC.org all the moving costs for and., so negotiating relocation package reddit sure if they will ask me what i want to sure! More standardized policies house in san antonio credit, investing, and retirement planning we make a good decision tend... Move my household goods as the cost of your package depends on your personal.. Bigger package than to ask that the company split the estimated $ 10,000 cost of with. Is i do n't want to ask for a higher salary it might be a reasonable in! Stipend for travel expenses organization stands to gain that the company ( executives to! Sell my house in san antonio receive a better package, credit, investing, and retirement planning hoping.

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