question regarding relocation assitance? (renters, credit card, employment)

[abaz100]

Greetings,
I wanted to ask about relocation assistance, I have a job offer in Delaware and the company offered a Relocation assistance because I am coming from a far state. My finances are tight, and I do not know if they offer it before or after arriving to the job. They just told me the amount of money that will help me to relocate. Should I ask for it now if I need it? What is the usual approach in this issue?

[ictulips]

I don't have direct experience with this, but I would suggest that you speak directly to the prospective employer and ask them how the assistance is allocated. They will are best positioned to answer any of your questions. I can't imagine that they haven't answered all of them before. Good luck to you and congratulations on your impending move!

[abaz100]

Thanks, is there a normal or general policy in that issue?

[cocaseco]

In my experience you will get your money before you leave for your new job. they also make you signa repayment agreement to ensure you stay for a certain period or you have to pay them back prorata.

[momonthemove]

Generally there is some sort of contract involved. The contract may indicate how and when the money will be paid to you as well as any stipulations regarding the how the money may be spent and if repayment would be required on your part for any reason. Just hearing relocation assistance is sort of vague. Is it a lump sum funds, temp housing, cost of moving/packing, sign on bonus? I would suggest that you contact the HR person from the company that extended the offer to you. Good luck!

[yousah]

Generally speaking, the HR department would meet with you to discuss the benefits involved. One big issue to be aware of are the tax implications regarding any payments made to you. Most companies will 'gross up' any money paid to you so that you'll still net out with the same amount of money after taxes.

Relocating can be very expensive. Be sure that you understand the relocation benefits in their entirety so that you know whether or not your move will be entirely reimbursed.

There are all sorts of different ways in which companies offer their benefits, but most relo programs are tiered in nature where they will create two or three different programs based upon the rank of the employee. They'll also usually differentiate between new hires and existing employees and between renters and homeowners.

It's not uncommon for a company to advance funds if needed by you.

[newmassphd]

To echo what has been written by others, it really depends on your new employer.

I came to the area to work for a company that provided relocation assistance. The company
reimbursed some expenses and paid others prior to start. There was a contract that was
signed as part of the employment agreement that effectively stated that if I left the company
prior to the one year anniversary for employment, the relocation monies would have to be
paid back to the company.

So it really depends on your new company. They might not be willing to give you the cash,
but employers are willing sometimes to pay for something before you start your job.

So, if they will not give you cash prior to starting your job, ask if they would be
willing to (for example) pay the moving company for your move.

Some employers require you to pay for everything, then submit your receipts and invoices
when you start your job, then they reimburse you as additional monies that appear in
your first paycheck.

The following is a brainstorm. One brainstorm is that if you are reimbursed in first paycheck.
depending on how you will be paid (bi-weekly or weekly) if
you put these on a credit card, move, file receipts, it is possible to get the reimbursement
before you will need to pay off your credit card 30 days later.

Anyway, it really depends upon your employers. Contact your HR department to discuss
what is possible.

[Pine to Vine]

Originally Posted by abaz100

Thanks, is there a normal or general policy in that issue?

Honestly, what you learn about this matter from an on-line forum is useless. Your company does not rely on the opinions or experiences of anonymous people on the internet to determine how they will compensate you for your move. There are no standards or government regulations governing whether (and if so, how) companies compensate anyone for a move, and therefore if your company chooses to do so, they will handle it in a manner specific to their own interests. I hope it's been made clear to you that the only source of information is your company's HR department, which will be able to point you to an existing policy. If this is a small company without written policies for relocation, make sure you ask the right questions and get your answers in writing. Best of luck with your potential move.

[abaz100]

Thanks, I just wanted to know that there are no regulations or no formal procedures regarding that issue. I just didn't want to seem ignorant when I discuss that issue with the HR.