Contacted about a Director of Marketing role that includes relocation; does that really exist anymore?

7 Comments

1. AnonymousJanuary 11,2023 at 10:14PM UTC

   I am confused. Is this an internal transfer or a new company? While a relocation package is probably more common with internal transfers, they do exist for new hires, just not as much as they have been in the past. Either way, relocation often comes with strings attached. There are limits to the amount, they don't typically include packing assistance or supplies, and you probably must use a specific moving company. If you are selling a house, there may be limits on timings and no help for paying the mortgage if you have trouble selling your home. Where I live, most leases require a 60-day termination notice, but most have an exception if you move because of a job. This is just scratching the surface of the relocation package. Relocation is also reported to the IRS, and you will have to pay taxes on it. Most companies require you to stay for several months or years or risk paying back all or part of the relocation assistance, so be very sure you want to move before deciding. I hope I have at least given you some ideas for some questions to ask on the call. If this is a promotion, ensure they include a cost-of-living adjustment. If it is lateral, it should be a raise because of the expense and disruption of relocating.

2. AnonymousJanuary 11,2023 at 10:19PM UTC

   Thank you, Anonymous. It's a new hire rather than transfer. I appreciate you providing more insight as this is the first time I've been approached about that type of opportunity. I own a house but I could lease it if needed. You've given me a lot to think about before having the call.

3. Jill L. FergusonJanuary 12,2023 at 12:17AM UTC

   I agree with everything Anonymous said and can cite a specific example. My husband worked for a major corporation and they relocated us and that included one trip to the new location to house hunt, appointing real estate agents on both ends, hiring the moving company, paying for a car and motorcycle to move, and putting our stuff in storage while we waited a month for our new house to close, closing costs paid, and other incidentals. This was in 2017 and the "value" assigned to all of that was $89K, which we paid federal and state income taxes on and it turned out the company didn't pay enough of the taxes so we had to add to it. It wasn't fun but it can be well worth it to relocate and learn about a new place and make new friends. :) As to salaries, look at glassdoor to see if the company has had this position and if someone reported what it pays so you have an idea.

4. Jennet JohnsonJanuary 13,2023 at 3:54PM UTC

   I have been working since 1998 as an engineer. I have relocated 5 times for my career. Each time, I was given a generous relocation package which included house hunting trips, return home trips, full coverage for moving expenses, and a stipend to cover new licenses, utility setup fees, and other moving expenses. I only needed to negotiate moving expenses into my employment contract one time. All the other times relocation was already included.

   Each time I moved, I researched the cost of living differences through multiple websites (nerdwallet, bankrate, etc) based on my current salary. I had a full understanding of what would be the minimum salary I could accept to maintain my lifestyle and an increase I felt was sufficient.

   I am not sure where you are relocating from, but the Southeast states are typically a lower cost of living than the Northeast, Midwest, or West Coast. I am from the Southeast and have lived in GA, SC, NC, MD, and now CA.

   I would highly recommend you look at the cost of living differences and completely understand what is covered in the relocation package. If there is not a relocation package, negotiate for one.

   Additionally, ask the company to pay the taxes associated with the relocation costs as the IRS considers relocation benefits taxable income: https://www.experian.com/blogs/ask-experian/are-relocation-expenses-taxable/#:~:text=The%20IRS%20considers%20relocation%20benefits,relocation%20services%20for%20your%20benefit.

5. AnonymousJanuary 15,2023 at 3:09AM UTC

   Relocation packages in companies do exist even though currently many opt for remote workforce rather than relocate them.

6. Krystin MorganJanuary 13,2023 at 8:23PM UTC

   It absolutely still exists if the company wants folks in-office! Most companies wouldn't pay for someone to relocate for a remote job, but if they want someone onsite chances are they're willing to pay for the right candidate.

   Try looking at some cost of living calculators to see at least the estimated COL in the new area. Even without knowing the salaries, it can help you get a general idea in your head of what you'd need to earn.

7. AnonymousJanuary 14,2023 at 6:25PM UTC

   I was relocated as a Senior Manage; it definitely exists. Regardless of their offer, research similar roles in the area. You can even go on the companies glass door page to get estimates for salary info in a Director level role.