View Full Version : Corporate Relocation Advice
08-30-2005, 09:26 PM
I am in the process of interviewing for an executive level position for the company I work for. Earning this position would mean relocation to Atlanta, GA. My question is from past experiences of your own, if your company relocated you after you already worked for them what kind of relo package did you get? I hear of companies taking care of housing for their employee or assisting with the sale of their current home, etc... I am just trying to get a grasp on what is a normal and acceptable practice. Any advice as to what I might should be looking for would be greatly appreciated.
east tx skier
08-30-2005, 09:27 PM
Moving costs (but if they don't, I think that's tax deductable). I'm just getting things started. Govt. hasn't tried to move me yet.
08-30-2005, 09:37 PM
Wow! And you just finished the basement! Good luck in what ever you decide. :toast:
08-30-2005, 09:42 PM
I don't think my employer's policies will help you JR.
08-30-2005, 09:47 PM
I don't think my employer's policies will help you JR.As the chief CEO, the only relocation package I offer is a bus token to get them to the un-employment office :D
08-30-2005, 09:50 PM
As the chief CEO, the only relocation package I offer is a bus token to get them to the un-employment office :D
08-30-2005, 09:53 PM
LMAO!! :purplaughRemember to tip your waitress...I'll be here all week :wavey:
08-30-2005, 09:54 PM
I have relocated a number of employees within Canada as well as to the USA from Canada. For sure they should cover all moving costs. In most cases we cover flying the employee and spouse to the new city in order to look for housing. We then typically cover 1-3 months of short term accommodations, which gives an employee time to sell in the old city and look for a new house in the new city. We also added a clause in the new employment agreement that said that we would cover moving expenses back to the current city if the new job did not work out within the first year. (This is more in the employee's favour, so you should try to negotiate something like this in.)
For us it has always been employee and situation specific and becomes part of the negotiation process with the employee. In situations where the employee wanted to move to the new city first and was asking us for a job there, we would cover minimal expenses. In situations where we wanted an employee to move we would cover as much as we could.
When I worked for Xerox, they sometimes covered part of the real estate fees in selling the current house. I have also heard of company's covering the costs to break car leases.
Hope this helps.
08-30-2005, 09:55 PM
Cover all moving expenses, allowance to cover extra expenses leaving (~5-15k), allowance to cover extra expenses arriving (5-15k), assistance on selling your present house and bonus if it sells (3-5% to 10k max or so) and company doesn't have to exercise a buy out clause, assistance on buying new house (generally 3 paid points plus cover all closing costs). I would ask for company car if you don't have.
A lot depends on individual circumstances what extra you ask for. Impact on wife? Above is pretty typical, dollar value vary a lot and when I moved international was much more.
I had the domestic contract for my company at one point in time, look on site like Cendant.
08-30-2005, 09:57 PM
Oh yeah, language course to learn southern, no wait you were the hillbillytoober!
08-30-2005, 10:59 PM
On the upside, not counting private ski clubs/lakes, there are close to 10 lakes within 2 hours of Atlanta...and the women in Georgia hold there own, plus you get extra long ski seasons. I say ask for a U-Haul and a new MC.
08-30-2005, 11:01 PM
I moved here from Orlando last year. My employer (U.S. Govt) paid all moving expenses, including: moving company, costs of selling old house and buying new (including agents commission, points, survey, taxes, etc.), room and board for 60 days in temporary housing (condo on the beach!), mileage expenses for driving 2 vehicles to new location, and something like $1,000 to pay for miscellaneous expenses.
In return, I became an indentured servant for a year -- if I quit or moved again within the year I would have to pay back all those expenses. I just became a free man last week.
I hope you get the job and enjoy Atlanta, but please don't become a Braves fan ;)
08-31-2005, 08:37 AM
I am RE/MAX Realtor in Lex KY, Airwear had good info, however companies(some/many) have significantly reduced what they offer ie: temp housing, Realtor fees ):, closing costs/discount points, actual moving are usually covered DEPENDING on the level of the employee they are hiring. The total costs of relocating a new hire are very high when totaled thus the relo budget cutbacks. Ask what the relo package is early on(now) and with many companies this can be quite negotiable again depending on the level of the hire. For example, if homes of your price/area are averaging longer than avg to sell 6-8 months or more then maybe ask for extended temp housing allowance. You should expect pricing for comparable housing substantially higher in greater Atlanta than southern IN, so factor this in to your consideration. The suburbs of Atlanta(one to two counties away from Fulton co tend to be the better value. Keep in mind traffic can be HORRENDOUS at peak times so factor longer commutes/gas into the scenario. My folks are in Macon Ga, I think Atlanta area is a fantastic area! If you can buy "right" you can achieve quick appreciation/equity.
Anyway my .02cents.
BTW first time post, long lurker. 17 year M/C(86 Skier) owner.
I have lots of family in southern IN, my great uncle sold Belterra the land!!
Let me know if I can help.
08-31-2005, 11:05 AM
I'm sure you'll get a fat raise out of this also..........
But there is also a cost of living adjustment they should make. Use your home area as baseline, then look at Atlanta and be sure to ask for extra due to this.
IE......you get a 25% raise for the new position........but if the cost of living in ATL is 20% higher than in Indiana..........you see where I am going.
Be sure to get a cost of living increase in your baseline salary to account for ATL............then you need to negotiate a fat raise on top of that.
My company will pay:
Lump sum 2 months salary if they assume responsibility of the house.
Lump sum 4 months salary if you sell it yourself.
45 days of temporary re-lo housing.
All moving costs.
Oh......one other thing........you need to look at the differential between your current mortgage..........vs new mortgage........they should make you whole on that too........
08-31-2005, 11:06 AM
After being in human resources for almost 20 years and handling several relo's. The basics have all pretty much been covered however a couple of side benefits that I usually try to offer that sets us apart as a company.
If the spouse is employed at the previous location, outplacement assistance is offered such as Right Associates. I'm sure there is a local office in Atlanta.
If the employee has kids, paid school enrollment fees at the public school. Private schools are on their own.
08-31-2005, 11:14 AM
I relocated with my past employer. My benefits were very good.
1. Paid for all moving expenses - mover, truck
2. Paid 2 pts on mortgage, paid closing costs for old and new home.
3. If I sold my old home w/in 90 days with my realtor they paid bonus of 10% of the value of the home. ( this is capped at selling the home for $400,00 I believe.)
4. Paid 1 month's bonus for misc. expenses.
5. paid for 1 week of house hunting.
6. Paid for 90 days of temp housing.
This sounds like a very rare package from what I am reading. I did have to commit to a 2 year stay, if I left before then, I had to repay a % of the relocating expenses.
If they are taking care of most of the expenses, I would really look into the cost of living difference between where you are now and Atlanta - which is a very popular place to live. Housing is going to most likely cost more, Education may not be the same standard (I don't know) so you may have to look into private schools.
Make sure you have a clear picture of all of the cost's and future cost's involved.
Good luck and let us know what happens!
08-31-2005, 11:22 AM
I was contacting for the local Blue Cross insurance co. in Seattle & at the end of my contract they offered me a permanent position in Spokane. 3% pay cut, but the cost of living more than made up for it. Plus I was given 1 month's salary to help cover expenses. From what I understand, had I been an employee when I relocated, the bennies would have been more significant.
08-31-2005, 11:37 AM
The last company I worked for , large Construction company (Peter Kiewit Sons') did very little for employee relocations. Basically just the cost of a moving van and mileage to drive there was covered.
I am an engineer/Project Superintendent.
My current company, and I'm on my 3rd location in under 5 yrs is much better.
They cover the cost of a couple house hunting trips, 2 weeks of living in a hotel in transit between homes, actual cost of expenses up to 6 months for myself to be living out of town, moving van including packing, mileage for personal vehicles to relocate (towed the MC w/ my Co truck), all closing costs on selling and purchasing new home, and up to 1 month's salary for misc. moving expenses. Realtor services in all major cities, and they do have a buyout plan for the house your selling, but it;s more beneficial to sell on your own. They also have a painless mortgage deal w/ Wells Fargo w/ interest at 1/4 pt below the going rate.
08-31-2005, 02:01 PM
Thanks all for your advice and input. From a cost of living standpoint we'll be in good shape, home prices where we would live in Atlanta area are actually slightly lower on the index as compared to the Cincy area by a small margin. Income wise it would literally double my income overnight (hmmm... maybe a new 197 sooner than I thought ;) ) and the wife has a full time job being the mother to my child so no concerns about cost of living really. I moved for this company when I went to work for them 2 years ago from Colorado. They paid all our moving expenses with (it had a cap but it was plenty high) and paid to have the wife and I fly out for a week and check the area out before we made the comittment. The difference today is really the house selling and buying situation and thats why I wanted to get input on what your company offered you in that aspect. Thanks all, I appreciate all the info I can get on the subject :wavey: