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What’s Included in a Job Relocation Package?
So you’ve aced the interview, got the job and negotiated the pay. Congrats! The only problem? The job isn’t in your current city. In fact, accepting this job offer requires you to move far, far away. Fortunately, you may be able to negotiate a job relocation package with the employer before accepting the job. If an employer is unwilling to cover part or all of the moving expenses, then the job may not be worth taking.
As anyone who’s moved can attest, relocating to a new place isn’t cheap. According to our calculations back in 2019, the average cost of a local move is $1,250, based on a two- to three-bedroom move of approximately 7,500 pounds. Given that the average cost of hiring professional movers for an interstate move is $4,890 (based on an average weight of 7,500 pounds and an average distance of 1,000 miles), it’s understandable that you might be a tad concerned about the costs involved. Even the cheapest cross-country moves will cost thousands of dollars. A DIY truck rental can run up to $2,000 while hiring a full-service moving company will set you back $4,000-$9,000.
Of course, this doesn’t include the time, energy and money required to sell your home and rent temporary storage. Those moving with kids will have even more to worry about including the cost of childcare services before, during and after the move.
So, before accepting a job in a new city, decide whether or not it’s truly worth the hassle and cost of moving. To help sway your decision, an employer may offer a relocation package. Here’s what you can expect from a typical job relocation package.
Is the job worth relocating for?
But first, what questions should ask yourself before the move to help you decide whether the job is worth uprooting yourself and your family? Besides the obvious one, what’s included in my job relocation package, research the company (visit the offices if possible) and find out as much as you can about the company’s culture. Ask your new employer about your job responsibilities, whether there’s room for advancement, and what benefits the new job will be offering.
Can the new company help you acclimate to the area? Moving to a new city or town can also be anxiety-producing. Can your potential employer be relied on for guidance about resources about what the city or town is like? If possible, talk to your future co-workers who have also relocated about their experiences and how they adjusted to the company and the new location.
Another important factor for discussion is whether there’s flexibility with the start date, taking into account the packing process, selling your home, finding new schools, locating movers, and saying goodbye to your family and friends. If possible, ask for around two months. That should give you enough time to leave your home, settle in and be ready to start your new job.
What is a job relocation package?
Though it’s not a requirement, many companies offer some sort of job relocation package to employees. A job relocation package typically covers part or all of an employee’s moving expenses when moving for work-related reasons. Oftentimes, these packages can be negotiated. Whether you’re a new employee moving for the job or an existing employee who’s being transferred to a new location, it’s in your best interest to negotiate a job relocation package with your employer.
What can I expect from a job relocation package?
Relocation packages vary from company to company. Even within that company, they may offer different relocation packages to different employees, depending on the employee’s status at the company. Many companies offer to pay a flat dollar amount to help with moving expenses. For example, a company may be willing to pay $5,000 to each employee to help with moving costs. Another common strategy is that the company simply offers to reimburse employees for certain moving expenses, such as the cost of hiring movers, renting a storage unit and living in temporary housing. In this instance, an employee will need to save all receipts related to moving.
What does a job relocation package include?
So what does a job relocation package typically include? While it depends on the company, and how much they’re willing to cover, job relocation packages can be fairly comprehensive. Here are 18 expenses that an employer may be willing to cover: