If you accept a new job, you may be entitled to a relocation package from the new company.
It’s a good idea to have a basic understanding of an average relocation package. A job relocation package generally includes all moving expenses, which the company pays for.
Don’ be Afraid to Negotiate
Many companies will attempt to significantly save by looking at your previous interest at relocating to that area.
Don’t be afraid to negotiate a relocation package. It’s a good idea to withhold settling for the offered relocation package until you know what the average relocation package is for the area.
Average Relocation Package
Some companies offer to cover all of your relocation costs for employees while other companies offer to cover only a portion of those costs.
Still others may include stipulations such as you must work for a company for a specific period of time before relocation costs are reimbursed. Let’s look at what an average relocation package will usually include:
1. Transportation Costs
Railway, airfare, road, and any other mode of transportation is generally covered for the employee and his/her family.
2. Moving Costs
All costs associated with moving including packing, movers to transport the household, and unpacking.
3. Housing Aid
Assistance to aid in finding the right house in the right neighborhood.
Costs can include inspections, cost of signing a lease, hookups for phone, cable, and utilities. Some companies will provide penalties for terminating a lease or mortgage penalties for selling, as well as any costs to acquire a new residence.
4. Documentation Costs
The cost of work permits, visas, and any other paperwork that’s associated with your relocation.
5. Assistance for Settling the Family
Costs associated with the admission of your children into a new school, finding day care for your children, care for aged parents, employment assistance for your spouse, and any other costs your family may occur as a result of relocation.
6. Financial Aid
The cost of setting up banking, relocation services, and penalties incurred at financial institutes for paying out a mortgage early, etc.
Tips for Negotiating a Relocation Package
When you have average relocation package examples to refer to, and you are aware of all the provisions that are typically included in a relocation package, you’ll be able to do a better job of negotiating your job relocation package.
These tips for negotiating a relocation package can improve the numbers even more.
- Do your homework and learn what the standard relocation package this company issues is.
- If you were planning to relocate to the area regardless of the job offer, don’t let the company know or they will use it to get the upper hand.
- Know what all the options are that the company offers those relocating
- You want to negotiate an unbiased analysis between you and the company
- Know and understand what they will include in their relocation package and what they will not cover
- Look for average relocation package examples
The best work is not what is most difficult for you; it is what you do best. ( Jean-Paul Sartre)