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I'm interviewing for a Director-level role at a Tech Company and am currently negotiating an offer. This would require my family and I to relocate from California to the East Coast.
As part of the offer, I'm looking for a relocation package. They have told me that pretty much anything is on the table, except for paying the selling costs for my current home. They want me to provide them with a number. Question, what is reasonable and what should be asked for? Here are some of my thoughts (no idea how much $$$ to ask for each):
-Moving expenses (packing, shipping of clothing/furniture/vehicles, etc. and storage)
-Flying expenses across country (for family and pets)
-Location visit (to fly my wife out to check out area before deciding)
-Corporate housing for family (at least 3 months)
-Job placement assistance for my wife
-Comp for foregone bonus that my wife would be leaving on the table for our respective jobs (in addition to making me whole)
Are these all reasonable and how much $$ is reasonable for each? Am I missing something else important?
it's odd for them to ask you for a number; most large firms have relocation consultants who will put a package together for you.
but most of these items you can do some quotes for yourself with moving companies (full service) and look at housing costs in the new area. I would average 15-20k in moving expenses; and probably 10k for the other items.
it's odd for them to ask you for a number; most large firms have relocation consultants who will put a package together for you.
but most of these items you can do some quotes for yourself with moving companies (full service) and look at housing costs in the new area. I would average 15-20k in moving expenses; and probably 10k for the other items.
It's not a large company. They've been asking me a lot off "odd" financial questions. Should this be considered a red flag?
I used to work for tech companies during the dot-com days. Operating funds is their Achille's heel. Is your future employer well-funded? What does their P&L look like? Do you think they're making, or losing money? You mention them asking "odd financial questions". Can you give an example?
You're uprooting your entire family for a x-country move so it pays to think about it at length. You'll never hear the end of it from your wife and kids if it turns out poorly.
I used to work for tech companies during the dot-com days. Operating funds is their Achille's heel. Is your future employer well-funded? What does their P&L look like? Do you think they're making, or losing money? You mention them asking "odd financial questions". Can you give an example?
You're uprooting your entire family for a x-country move so it pays to think about it at length. You'll never hear the end of it from your wife and kids if it turns out poorly.
Friend of mine did this, she was recruited into the new job, quit her job, coast to coast move, sold her house, bought a new house at the new job before the move etc.... the whole nine.
Started on a Monday, was laid off that Friday in a major company wide layoff. 1 week.
I used to work for tech companies during the dot-com days. Operating funds is their Achille's heel. Is your future employer well-funded? What does their P&L look like? Do you think they're making, or losing money? You mention them asking "odd financial questions". Can you give an example?
You're uprooting your entire family for a x-country move so it pays to think about it at length. You'll never hear the end of it from your wife and kids if it turns out poorly.
They're making money, but their margins are much slimmer than my current company.
Odd questions included booking my travel for an interview but not including any info about expenses. I had to ask and they responded that food, airport parking and taxi were covered. I asked about mileage reimbursement (fairly common in my view) and they seemed surprised and said they'd never been asked before.
I also told them I was leaving a lot of stock unvested and gave them the amount and told them I needed to be made whole (again, fairly common in my experience). They asked if I needed "all" of this.
It sounds as if you have high expectations, while at the same time they seem to have limited resources. If they aren’t willing to pay you for real estate fees when selling your house, I would be surprised if they are willing to pay for your wife’s forsaken bonus.
In my experience, albeit in a non-tech field, relocation costs are basically a reimbursement for direct moving expenses. That may involve a week or so of hotel in a new area, but certainly not 3 months.
They way I read it, You are asking for a large ch7nk up front. Best guess is:
Quote:
Originally Posted by roadwarrior101
-Moving expenses (packing, shipping of clothing/furniture/vehicles, etc. and storage)
$15,000
Quote:
-Flying expenses across country (for family and pets)
Depends on family size, airports involved, how many pets, etc. maybe $4,000
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-Location visit (to fly my wife out to check out area before deciding)
$3,000. That would be round trip airfare for two, hotel and car for a few days, meals, etc.
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-Corporate housing for family (at least 3 months)
Does this include food? How big a family? Wild guess, $9,000
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-Job placement assistance for my wife
No clue really. $2,000?
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-Comp for foregone bonus that my wife would be leaving on the table for our respective jobs (in addition to making me whole)
Two bonuses for two people? Bonuses can vary wildly of course, let’s say you are as,big for $40,000.
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Are these all reasonable and how much $$ is reasonable for each? Am I missing something else important?
If my figures are correct, and I have a low confidence in them, I come up with a $75,000 ask. That is pretty steep, and I personally would laugh at paying a bonus for your wife. Again, I am not in tech, so take my opinion as uninformed.
If they aren’t willing to pay you for real estate fees when selling your house, I would be surprised if they are willing to pay for your wife’s forsaken bonus.
Her bonus is a lot more than $2k. If I want to pursue the job opportunity, I think I'll ask to start after her bonus payout (April) or work out a remote working arrangement for a few months.
Corporate housing is actually pretty commonplace for roles at the Director level (sometimes even below). 3 months is standard in industry.
I realize they are tight on money, but not sure that's the environment I want to work in. If its such a battle now, what's it going to be like when it comes time for raise/bonus/stock award?
Her bonus is a lot more than $2k. If I want to pursue the job opportunity, I think I'll ask to start after her bonus payout (April) or work out a remote working arrangement for a few months.
I did say a bonus of $40k, you misread a bit.
Quote:
Corporate housing is actually pretty commonplace for roles at the Director level (sometimes even below). 3 months is standard in industry.
Depends on industry obviously.
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I realize they are tight on money, but not sure that's the environment I want to work in. If its such a battle now, what's it going to be like when it comes time for raise/bonus/stock award?
That is entirely reasonable on your part. If you are willing to walk away, go ahead and ask for the $. What is the worst that happens? They rescind the offer and you stay where you are. Since you are employed, you are in a reasonably strong position to negotiate. It is a good position to be in.
I've been relocated across the country twice by national organizations. In both cases, they covered full relocation expenses including a home-finding trip, short-term housing etc. The second time, I had to break a lease and my new employer also paid "dislocation," meaning they covered those fees. I was single and a renter, so my circumstances were different than yours. If you plan to pursue this, you probably need to do the work to develop a concrete estimate. Otherwise you could end up covering a lot of your own expenses. IMO anything for your wife is a longshot.
I do see it as a red flag that they aren't better equipped to handle this type of negotiation and benefit.
Good luck!
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