Re:Ask HN: What was your relocation package like?
by jasode on Saturday January 28, 2017 @04:03PM
(#13509299)
>Why would rent be included, by the way?
Because it's a _package_ that includes multiple benefits and not just a single reimbursement of a "moving van receipt and that's all you get."
A good relocation package from a major corporation will include many expenses besides the cost of the moving van.
This was my relocation package:
+ airfare for 2 trips for house hunting
+ lease cancelling fees (which was about $1800 since I broke my lease 3 months early to take the new job)
+ professional packers to come in a box everything up (this is very helpful as you don't have to lift a finger. E.g. They will take all dishes from the cupboards and silverware from the drawers, wrap everything in paper, and box everything up with a label.)
+ the car was also packed into a truck and shipped
+ the moving truck itself
+ professional crew to unpack everything at the destination
+ all hotels and meals while traveling during the move
+ repairs to furniture if anything was broken
That was my package for an engineer. The relocation package for managers such as directors got a few more things... like 3 trips for house hunting instead of 2 and the purchase of the old home if the real estate agent couldn't sell it in time, etc. If it's CxO level executives (CEO, senior vice presidents, etc), the relocation package will often be negotiated on a case-by-case basis to include more reimbursements.
The total came out to about $26k. In a quirk of USA tax law, relocation expenses are counted as additional income but the company was generous to "gross up" extra income on top of the relocation reimbursement to cover the extra tax payment. The amount of money spent on employee relocation may seem excessive but the rationale is that they want the new employee to be immediately productive on the new job instead him wasting time and worrying about how to round up uncles and siblings to help pack and move. Therefore, you provide as much of a "white glove" moving experience as reasonably possible.
That was my relocation experience in 1998. It would be interesting if a relocated employee from Google/Facebook/etc can talk about what today's packages from Silicon Valley companies look like.
Because it's a _package_ that includes multiple benefits and not just a single reimbursement of a "moving van receipt and that's all you get."
A good relocation package from a major corporation will include many expenses besides the cost of the moving van.
This was my relocation package:
+ airfare for 2 trips for house hunting
+ lease cancelling fees (which was about $1800 since I broke my lease 3 months early to take the new job)
+ professional packers to come in a box everything up (this is very helpful as you don't have to lift a finger. E.g. They will take all dishes from the cupboards and silverware from the drawers, wrap everything in paper, and box everything up with a label.)
+ the car was also packed into a truck and shipped
+ the moving truck itself
+ professional crew to unpack everything at the destination
+ all hotels and meals while traveling during the move
+ repairs to furniture if anything was broken
That was my package for an engineer. The relocation package for managers such as directors got a few more things... like 3 trips for house hunting instead of 2 and the purchase of the old home if the real estate agent couldn't sell it in time, etc. If it's CxO level executives (CEO, senior vice presidents, etc), the relocation package will often be negotiated on a case-by-case basis to include more reimbursements.
The total came out to about $26k. In a quirk of USA tax law, relocation expenses are counted as additional income but the company was generous to "gross up" extra income on top of the relocation reimbursement to cover the extra tax payment. The amount of money spent on employee relocation may seem excessive but the rationale is that they want the new employee to be immediately productive on the new job instead him wasting time and worrying about how to round up uncles and siblings to help pack and move. Therefore, you provide as much of a "white glove" moving experience as reasonably possible.
That was my relocation experience in 1998. It would be interesting if a relocated employee from Google/Facebook/etc can talk about what today's packages from Silicon Valley companies look like.