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