so can we talk relocation costs for attending job?

[Igor4sugry]

We have a forum dedicated to salary. But what about relocation costs. I have been in job searching/interview mode and have seen a variety of ways employers offer to help with relocation. This includes a sign on bonus; a separate relocation package (usually ties you down to employment for x number of years or you have to pay them back pro-rated amount); or no relocation at all.

--What deals have you had or took?
--For those that moved an entire household (I'm talking 2+ cars, 2+kids, pets, etc) across multiple states and time-zones what did you real costs ended up being?
--I would hate to take a job and then have to make up income lost due to unmet relocation costs.
--What is negotiable with relocation packages?

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[Trismegistus4]

My new job offered:

• A $25,000 sign-on bonus (OK, they didn't "offer" this outright, my lawyer advised me to ask for it, and they agreed.) I have to pay back a pro-rated amount if I leave in less than 2 years, and the way they structure this is by calling it a "loan" with a 2-year repayment period, but each month you work there, that month's "payment" is forgiven.
• Reimbursement of relocation costs up to $10,000
• Reimbursement for a house-hunting trip, for the physician and spouse. This includes up to 3 days hotel room, meals, rental car, and airfare or mileage. They didn't specify a dollar amount limit, but they do say the lodging and rental car must be "reasonable." It's possible this is subsumed under the relocation costs above.

I'm single, so I can't comment on moving an entire household. I don't know how much of the above is negotiable, except to say that I asked for a $25k sign-on bonus and they agreed.

 

[cookymonster]

I got a similar deal to Trismegistus, only with different, slightly higher amounts. Despite being single, it cost me ~12k to move everything, including my car, across the country. It was also a nightmare as it took the moving company more than 30 days to deliver all my stuff (in the summer).

Even if the company agrees to cover the cost of relocation and house-hunting, I would treat the money as if it were your own. One reason is that it is considered taxable income, so you're going to have to pay the combined federal and state marginal rate on anything you charge anyway. The second reason is that if you leave before the end of the contract, you most likely will be paying whatever you spend (or a prorated amount of this) back in post-tax dollars. You may be able to deduct this on your tax return that year, but it sounds like a nightmare. Also, based on my experience, I think I can get the job done better than professional long-distance moving companies.

 

[takeeacy]

I've been recommended using Amtrack Express shipping for cheaper costs. It's like 60ish dollars for the first 100 lbs and around half a dollar per pound thereafter. The limitations are that everything has to fit into boxes that are 3x3x3 max and <50 lbs each.