Relocation package questions

Borzak

Borzak

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Make a possible move across the country for a job. I've never relocated that far and normally stay within my region (I do a lot of 1-2 year consulting jobs) and normally it's somewhere I just wanted to live and pick up the tab.

However this one will be 2500 miles away and they have hinted they would offer a relocation package. I'll be flying out next week to spend a week talking to them and look at the area. Any ideas on what I should be looking for in a relocation package? I won't be selling my house here locally as I already own it outright and would likely rent at the new location for the foreseable future.

I was thinking of them paying for another trip out there if I accept the job to look at housing, picking up all the actual moving expenses and possibly a month or two of short term rentals if I have a hard time finding a place.

The owner of the company seems spretty excited about getting me up there and didn't blink when I quoted him a highly inflated salary and then in a later conversation talked about at length how difficult they have had trying to find someone, IE a year or more and often searches thru LinkedIn accounts, facebook, other industry sites randomly contacting people who might be qualified or know someone who is qualified. He wouldn't make much of a poker player.

Do you normally get a reimbursement or a lump sum? Any ideas or thoughts appreciated.
 
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prescient

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I've seen it go both ways in terms of reimbursement or lump sum. The company I work for did a lump sum where they just sent me a check. The amount for relocation was based on how far you would be moving. I have friends at other companies who were reimbursed up to some maximum amount. Personally I like the lump sum much better as I can waste two days loading and unloading a truck as opposed to paying someone else to do it, and then pocket the majority of my relocation package. However, I was only moving ~200 miles.

In terms of looking for housing it didn't matter for me, but I do know of folks whose companies (Nike / Intel) flew them out for a week to look for a place to live.
 
Rangoth

Rangoth

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I'm not sure what "standard" is, but the few relocation offers I received included the following:

-Up to 5,000 in moving expenses.
-House/rental assistance
-Up to 60 days in a condo they own while I am finding a new place
-Lease termination payment(if you currently have a lease) or housing sale assistance(if you currently own)
 
Borzak

Borzak

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Well I expect they are going to pay 100% of the household move, that's pretty much a given. They were pretty excited I didn't have to sell or bring a wife/kids up there as well. If things go really well I'll ask for more stuf flike moving the equipment in my shop and possibly a month or two of short term rental while I look.
 
lindz

lindz

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When we moved from California to Washington 5 years ago, this was the relocation package we had.

- Movers that packed up our place, moved everything and unpacked. Hired and paid for by them.
- Company that shipped our vehicles. Hired and paid for by them.
- Travel expenses (flight for my husband, myself and our 1 child)
- Short term housing while we looked for a new place (ended up being like 5 days in a hotel, they would have put us up in corporate housing for up to 2 months, but we didn't need it)
- First month's rent covered on our new home.
 
Alex

Alex

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lindz_sl said:
When we moved from California to Washington 5 years ago, this was the relocation package we had.

- Movers that packed up our place, moved everything and unpacked. Hired and paid for by them.
- Company that shipped our vehicles. Hired and paid for by them.
- Travel expenses (flight for my husband, myself and our 1 child)
- Short term housing while we looked for a new place (ended up being like 5 days in a hotel, they would have put us up in corporate housing for up to 2 months, but we didn't need it)
- First month's rent covered on our new home.
Click to expand...
That's the nicest relocation package I've ever heard. Mine was dogshit. I should have negotiated that a bit better.
 
Borzak

Borzak

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Just from searching on the internet I see a lot like lindz posted, and some that have a few more like multiple trips to look for housing, depreciation on your current home etc...

I know the guy I bought the house I live in now had his new employer buyout his house so he could move and buy a new home. The company then turned around and sold it (at a loss) and covered the difference.

Had I not been bored and googled around a little I probably would have just asked for acutal moving cost and nothing else.
 
Shonuff

Shonuff

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Borzak_sl said:
Make a possible move across the country for a job. I've never relocated that far and normally stay within my region (I do a lot of 1-2 year consulting jobs) and normally it's somewhere I just wanted to live and pick up the tab.

However this one will be 2500 miles away and they have hinted they would offer a relocation package. I'll be flying out next week to spend a week talking to them and look at the area. Any ideas on what I should be looking for in a relocation package? I won't be selling my house here locally as I already own it outright and would likely rent at the new location for the foreseable future.

I was thinking of them paying for another trip out there if I accept the job to look at housing, picking up all the actual moving expenses and possibly a month or two of short term rentals if I have a hard time finding a place.

The owner of the company seems spretty excited about getting me up there and didn't blink when I quoted him a highly inflated salary and then in a later conversation talked about at length how difficult they have had trying to find someone, IE a year or more and often searches thru LinkedIn accounts, facebook, other industry sites randomly contacting people who might be qualified or know someone who is qualified. He wouldn't make much of a poker player.

Do you normally get a reimbursement or a lump sum? Any ideas or thoughts appreciated.
Click to expand...
They'll tell you. A lot of times, there is a set calculation, based on miles, and no negotiation. So if it's low, you might negotiate a higher signing bonus. The last few times I moved, they moved my stuff, gave me three tickets a piece for each member of my family, and gave me about $15-20k in cash (it was grossed up). But both of those were for Fortune 200 companies. It's probably going to be smaller at a smaller company. For Corporate America, they expect to spend 50-70k to move a family, it's already budgeted.
 
A

a_skeleton_04

<Banned>
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What Lyrical said. I have had many over my career. Depending on distance anywhere from 5000 to 10000, and they also offered things like a realtor and hotels and such to help me get settled. I do not own a home, either. And yea lot of them are corporate America. They write it all off since like they said, sometimes it takes years to fill a position.

Also, when you move over 1500 miles (I believe that is the number) for a job, you can write off the move on your taxes, everything down to packing tape you bought. So save every receipt, gas, any travel expenses - anything you did to move. Even mailing or faxing yourself stuff related to the move.
 
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prescient

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Xianthe_sl said:
What Lyrical said. I have had many over my career. Depending on distance anywhere from 5000 to 10000, and they also offered things like a realtor and hotels and such to help me get settled. I do not own a home, either. And yea lot of them are corporate America. They write it all off since like they said, sometimes it takes years to fill a position.

Also, when you move over 1500 miles (I believe that is the number) for a job, you can write off the move on your taxes, everything down to packing tape you bought. So save every receipt, gas, any travel expenses - anything you did to move. Even mailing or faxing yourself stuff related to the move.
Click to expand...
You actually only need to have a new job that is greater than 50 miles + your old commuting distance from home to write off moving expenses. E.g. if your old commute from home was 25 miles and your new commute is 76 miles you can write off the moving expenses should you decide to relocate closer to work.

http://www.irs.gov/taxtopics/tc455.html
 
Borzak

Borzak

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Lyrical_sl said:
They'll tell you. A lot of times, there is a set calculation, based on miles, and no negotiation. So if it's low, you might negotiate a higher signing bonus. The last few times I moved, they moved my stuff, gave me three tickets a piece for each member of my family, and gave me about $15-20k in cash (it was grossed up). But both of those were for Fortune 200 companies. It's probably going to be smaller at a smaller company. For Corporate America, they expect to spend 50-70k to move a family, it's already budgeted.
Click to expand...
Yeah but this isn't a corporate job and they only have 40 employees. From the sound of it I would be the only person who they haven't hired locally. I think it's all going to be up in the air for negotiations. They did $450 million in work last year so we shall see. Just looking for ideas as to what others got covered so I have an idea as to what I can calcuate in since they sound like they are ready to throw money at the problem to make it go away. But I didn't want to throw out a huge number without at least some stuff I could say I was using the money for. Another thing I saw on some sites was money to furnish the new place or stuff like curtains etc..., registration of vehicles and drivers license (which can't be all that much). Personally I would be happy if I could get an allowance to move my boat or have it shipped and move my shop contents which would be about (2) semi's worth.

I also think it weighs to my advantage that they called me out of the blue and offered me a job instead of me applying for it. My dad does the same type of work and the guy said he could work a package deal if my parents wanted to relocate as well lol.

I'm going to be designing and drafting stuff like this.

9629hermiston_1.jpg


4518bifurcation.jpg
 
D

Df~_sl

shitlord
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I would expect the minimum to include...

2x Airfare for You + Wife + Kids
1 Month Housing (Hotel or Condo) upon arrival
Assistance finding a new house/rental (local agency)
Lump sum relocation expenses ( get an estimate from a professional moving company and that should give you an idea of what the payment should be )

Moving is a very stressful event. Making it as stress free as possible should be the goal of the company hiring you.

The company I work for in China did not pay for my moving expenses, but reimbursed me for my flights (2 round trip flights) and furniture and electronics (12,000US limit) in the apartment I chose that they paid for (5,000US a month) and then paid the shipping cost of all those things plus whatever else I had when they moved me to Shanghai.
 
Borzak

Borzak

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Slightly related but I'll ask here. What other perks besides relocation expenses has anyone been able to get out an employer? I got a country club membership once as part of a year long contract which was nice since I play golf and access to the restaurant was handy. Other things in the past include tickets to LSU football games in a suite, free travel on company jets to away football games like Notre Dame and Washington.

Just curious what else I might ask for. The location is nice and I have vacationed there several times but it's not really "me" as for as living so I want to be able to really have the ability to do stuff I enjoy while there. I was thinking if they really go gaga (they already have offered the job but I told them I needed to fly out and meet with them and look around first) I might ask for a boat slip.
 
Borzak

Borzak

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Suprised they have that formula for all employees or does that not include executives as well? Also is that for current employees or new hires?

What does the $1000 for house hunting trip cover? Walking around money or...? Wouldn't even cover a single plane ticket.
 
Hachima

Hachima

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Borzak_sl said:
Suprised they have that formula for all employees or does that not include executives as well? Also is that for current employees or new hires?

What does the $1000 for house hunting trip cover? Walking around money or...? Wouldn't even cover a single plane ticket.
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I'd opt for the 'American Express can arrange you and your partner a week long trip to look around the new neighborhood.' The $1000 would be nice if you were just 100 or so miles away and you didn't need to fly/rent a car.

The PC does sound a bit dated, sound like it is near the end of a refresh cycle. Personally I'd opt for a BYO PC if an employer offered it.http://www.intel.com/content/dam/www...d-at-intel.pdf
 
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Obtenor_sl

shitlord
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Mine from Seattle to LA was
- 6000$ in moving expenses (I didn't have much, so my actual budget was very under this)
- 1 Round trip flight from seattle to LA (I went first to check the area out)
- I could stay in the corporate apartment for something like 5 months, the lease was up in december and I moved in July, they said they were not going to renew it so I could stay as long as I wanted, I ended up leaving in october (had found a really good place).
 
Mick

Mick

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This is what has offered to me when I moved from CT to KS:

  1. One house-hunting trip not to exceed three (3) days. The house-hunting trip includes reasonable lodging, meals and mileage/airfare for you and your spouse. Must be scheduled with Human Resources directly.
  2. The physical movement of household goods (packing, transporting and unpacking furniture and personal effects) to the Kansas City area.
  3. One-way coach class fare for your relocation. If a private automobile is used, millage allowance at the standard government rate plus toll fees, meals, and lodging will be covered.
  4. The length of stay in temporary furnished quarters upon arrival at the district office shall not exceed seven (7) calendar days unless approved in writing by your manager.
  5. $2,500 to cover incidental relocation expenses when your move is complete.
  6. Professional assistance with finding a home or apartment.
  7. The movement of two (2) automobiles to the Kansas City area.
  8. If you are a homeowner, reimbursement for the reasonable and customary costs of marketing and selling your current home and the costs associated with buying a home in the Kansas City area. These costs do not include points or taxes and amounts must be consistent with current policy.
  9. Gross-up on all taxable relocation payments which are not tax deductible according to IRS Regulations.
  10. You will have up to twelve (12) months to complete your move
 
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