Has anyone relocated recently and what is standard these days for an executive? I know most companies dont buy your house anymore, but what did you get? Yes, I know every company is different, but I am trying to see whats out there.
3 mos temp housing?
flat dollar moving cost?
misc?
It’s been quite awhile for me, so consider this info dated but I’ve been through it several times and I doubt much has changed for the company. Let’s see if I remember it all:
Assistance with process through professional relocation management company
3 months temp housing (was able to negotiate for much more in one unique instance)
Salary adjustment for higher cost area (one instance)
All moving expenses paid for, including moving 2 cars, packing and unpacking, storage if needed, with a high end corporate moving company
One way plane tickets for all family members
2 paid house hunting trips (food, lodging, rental car)
Temporary childcare assistance
Paid broker fees on selling residence (did not buy your home)
Closing costs on purchase of new home
Paid tax assistance
Job hunting assistance for spouse if needed
After tax gross up on tax impact of paid relocation costs
A lump sum to cover incidentals - I think it was $1-2K.
Bottom line, the goal was to make you “whole” and minimize the stress/impact on work performance/family.
I will add that the companies were known to be generous with such things.
What level of employment? A managerial position usually comes with better relo assistance. A recent grad will typically get anywhere form 0 to a couple of months housing plus a small flat fee to pay the movers.
I managed the relo program for a large corporation. @doschicos has provided a very complete list.
Be aware that if you have “'special circumstances,” you can often negotiate for something special – or example, child needs six more months to finish HS.) But if you look greedy, it will not be well received, especially if you are a new hire who is being relocated.
Be aware that moving really unusual things will not be covered – eg, a grand piano or your horse.
Oops. Sorry, @partyof5! CC has been iffy, so my edit did not work… I meant also the size of the company. If it a mid- to large co, the list in post 2 applies. Let me pull the relo package Mr. B got… I think it is similar to what has been posted.
I asked my company to move my kid’s grand piano overseas. They resisted at first, but I asked if they would have moved a violin if my kid was a violinist. The piano was shipped overseas and back. I am surprised it is still in one piece. I think when it comes to relocation package, it is very negotiable as long as it is reasonable, and it is often case by case.
NO geo salary adjustment
up to 3 months temp housing
airfare for the employee plus a paid househunting trip (nothing for the family)
a generous lump sum for movers which could have been used on anything
no commission on the sale of the house but assistance with finding a realtor (duh!)
Our S had a relo package for his 1st job. It included one paid airplane trip to find housing. All moving expenses, including shipping things to his new place, costs of driving his car from West Coast to East Coast, including mileage and lodging along route. He also got COLA for living in DC. I know S wasn’t an exec, but I thought he was given a very decent package. (He had no spouse, kids or existing home to sell.)