What’s a good relocation package?

[Anonymous]

I was laid off in September. Just interviewed for and was offered a role out of state. I’ve been offered a salary in range with what I expected and a 5k lump sum relocation assistance amount.

Is this low? What’s standard?

[Anonymous]

When I was transferred, several times, with the government, it paid for the movers, the RE commissions on both ends, mileage, hotels, and per diem while en route to my new duty station, and for a house hunting trip beforehand. But, that said, there is probably no "standard" apart from what is standard for a given employer. Many probably offer zero relo assistance; if you want the job you move yourself. Anything beyond that should probably be seen as a bonus above and beyond your new compensation package.

[Anonymous]

$5k is not great. How big of a move is it?

[Anonymous]

There is no standard.

I have had different relo packages at different times from different employers.

Fortune500: they paid for the movers. I had no cash outlay. I also got 1 month in a furnished apt so I could find a place to live

Big Tech in Silicon Valley: $20k lump sum for relo (taxable) and I handled all aspects of a cross-country move.

USG: paid for movers door to door. No cash outlay. No other costs covered.

[Anonymous]

Depends on your level and seniority. Are you under 30 and individual contributor role renting and making less than 100k? Then yep, 5k is about right.

Are you a Director level F500? Full service packing and shipping and storage, possible corporate housing until the final move, shipment of family cars, or selling them, compensation of realtor fees of 5-6% of your house sale, and a COLA differential —- all would be the norm.

VP or SVP level? Anything goes. We’ve paid for $2M homes outright to get the talent to move.

- HR

[Anonymous]

This is OP. Senior level IC role (think executive advisory/executive project management) with salary in low 100s. Big move, which would include selling our house and buying a new one, plus three kids. Think NYC to Atlanta.

[Anonymous]

Anonymous wrote:This is OP. Senior level IC role (think executive advisory/executive project management) with salary in low 100s. Big move, which would include selling our house and buying a new one, plus three kids. Think NYC to Atlanta.

I would ask for 10% of your salary, grossed up for taxes, so you net the 10%.

[Anonymous]

5K is nothing and it will be taxable income to you. Take the job, go on your own, see how it goes before you try to move your family and keep applying.

[Anonymous]

Anonymous wrote:This is OP. Senior level IC role (think executive advisory/executive project management) with salary in low 100s. Big move, which would include selling our house and buying a new one, plus three kids. Think NYC to Atlanta.

I’m the HR person - this may be tough to hear but the relo compensation is tied to the Role not your personal circumstances. It’s an IC project manager role. In this circumstance you are just not going to recoup the total cost of your move. Realtor fees, shipping, storage, new furniture etc. I’m sure you’ve done the math. It will cost you 20-60k easily. If the opportunity, the new location, the new company lines up with your future prospects, for you and your family then you are choosing the job for the future opportunities it provides not the immediate payoff of moving. I did it myself at 30 and it was the best thing I did career wise. So weigh the pros and cons and Choose wisely. Also go back and ask for 20k. They will come back with Mayyyybe 10.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is OP. Senior level IC role (think executive advisory/executive project management) with salary in low 100s. Big move, which would include selling our house and buying a new one, plus three kids. Think NYC to Atlanta.

I’m the HR person - this may be tough to hear but the relo compensation is tied to the Role not your personal circumstances. It’s an IC project manager role. In this circumstance you are just not going to recoup the total cost of your move. Realtor fees, shipping, storage, new furniture etc. I’m sure you’ve done the math. It will cost you 20-60k easily. If the opportunity, the new location, the new company lines up with your future prospects, for you and your family then you are choosing the job for the future opportunities it provides not the immediate payoff of moving. I did it myself at 30 and it was the best thing I did career wise. So weigh the pros and cons and Choose wisely. Also go back and ask for 20k. They will come back with Mayyyybe 10.

Thank you and I appreciate the candor. Based on social media posts they provide up to 13.5 for relo, but that’s for clinical roles. Not sure about the caps for my role/the business side. I will ask for more.

[Anonymous]

I got when I did it 120k taxable. . I take care of everything. If I quit before one year I owe it back. Guaranteed 120k bonus at year end first year if meets expectations. My salary was 240k so 20k a month. Started in Jan and bonus paid following match. So 14 months later. I was very nervous as fired for cause or quit I was screwed. And I had the buy a place in new state and move family. They fired me three years later leaving me unemployed in a different state

[Anonymous]

For an IC I’m surprised you’re getting anything in the current market. The $5k won’t even cover your moving expenses.

Do they provide funds for a housing trip?
Hotel stays in case you can’t move into your permanent housing immediately?
Meals?

[Anonymous]

The HR person is right - I am totally sympathetic to you situation, but the amount sounds directionally right (probably a bit low) for a position like that. I do think you could probably get to $10-$12K though.

[Anonymous]

Given comments above, ask for 15k and end at the 10-13k range.

[Anonymous]

$5k does not get anywhere close to actual moving costs, so the amount they are offering you is intended to just be a "perk" and not an actual reimbursement. Kind of like how some professional jobs used to offer $500 for a new wardrobe out of college. It's not intended to cover the whole thing but by phrasing it as a benefit in addition to your compensation, corporates have figured out that this sounds better to prospective employees than telling them their salary is $5k more than what it otherwise would be.