Anyone familiar with relocation packages?
Discussion
Hi all,
I've got the possibility of a promotion coming up, I'd be going from a regional driver to a shift manager at a fixed location.
There has been talk of a "relocation package", I've heard of them but never had one nor do I know anybody that has.
Is there a standard or minimum package I should be asking for, if not then what are the typical things I should seek?
Any help would be great, ta
I've got the possibility of a promotion coming up, I'd be going from a regional driver to a shift manager at a fixed location.
There has been talk of a "relocation package", I've heard of them but never had one nor do I know anybody that has.
Is there a standard or minimum package I should be asking for, if not then what are the typical things I should seek?
Any help would be great, ta
Got it once quite a few years ago and here's some of the thing I got:
- My current flat bought off me at agreed price after evaluation. If they sold it for more than they gave me I got the profit. If sold at a loss they took the hit.
- All removal costs, transport etc. Inc storage of furniture until I found a property.
- Free rent (6 months) while finding a suitable property.
- Finding an equivalent property "uplift" toward new property. I was moving from Glasgow to South East so this was fairly sizeable. Ie I had a rather nice place in Glasgow, for the exact same price in South I could only afford a box room!
- All legal fees
My employer relocated from Croydon to Milton Keynes. Most of us were in our early 20's, so living with parents or in rented.
Employer got us all Development Corporation flats or houses, plus 12 monthly payments that more than covered the rent and other bills.
A couple of us owned houses. They got all there expenses covered, plus rent free accomodation until they had sold.
A couple of all expenses paid visits to look around the area too before we had to make a decision.
Employer got us all Development Corporation flats or houses, plus 12 monthly payments that more than covered the rent and other bills.
A couple of us owned houses. They got all there expenses covered, plus rent free accomodation until they had sold.
A couple of all expenses paid visits to look around the area too before we had to make a decision.
Yell_M3 said:
Got it once quite a few years ago and here's some of the thing I got:
That's similar to what as i got in the early 2000's but with 12 months rental giving me time to find a suitable house. Also paid money per child and organised a team to find suitable schools and a different team who tried to find you a house based on your own criteria. As i bought a new build, they also stumped up for carpets and a tv antenna! Very generous, cost them in the region of £50K IIRC- My current flat bought off me at agreed price after evaluation. If they sold it for more than they gave me I got the profit. If sold at a loss they took the hit.
- All removal costs, transport etc. Inc storage of furniture until I found a property.
- Free rent (6 months) while finding a suitable property.
- Finding an equivalent property "uplift" toward new property. I was moving from Glasgow to South East so this was fairly sizeable. Ie I had a rather nice place in Glasgow, for the exact same price in South I could only afford a box room!
- All legal fees
The same company has now 'revised' it's scheme - you get estate agents fees, legals and removals paid for. And nothing else.
RE located a few times in the 90s and it was 10% of salary as a disturbance allowance, solicitors fees for the house sold and the one bought, removal fees and estate agents fees.
One time also paid for surveys due to buying a listed cottage to confirm no woodworm as it had been treated in the past
Obviously a salary increase for new job.
I relocated 6 times and it was the quickest way to build my salary
Makes a difference if you are in the South and moving north or the opposite way round as I made money on equity growth.
The company I work for now are a world player and don't do anything other than removal costs so very much down to individual companies and deals that can be done these days.
One time also paid for surveys due to buying a listed cottage to confirm no woodworm as it had been treated in the past
Obviously a salary increase for new job.
I relocated 6 times and it was the quickest way to build my salary
Makes a difference if you are in the South and moving north or the opposite way round as I made money on equity growth.
The company I work for now are a world player and don't do anything other than removal costs so very much down to individual companies and deals that can be done these days.
littlebasher said:
That's similar to what as i got in the early 2000's but with 12 months rental giving me time to find a suitable house. Also paid money per child and organised a team to find suitable schools and a different team who tried to find you a house based on your own criteria. As i bought a new build, they also stumped up for carpets and a tv antenna! Very generous, cost them in the region of £50K IIRC
The same company has now 'revised' it's scheme - you get estate agents fees, legals and removals paid for. And nothing else.
It was early 2000s for me, also suspect this sort of package is no longer available with the company I was at. But at least it gives the OP something to aim for!The same company has now 'revised' it's scheme - you get estate agents fees, legals and removals paid for. And nothing else.
Was offered a relocation package 4 years ago.... from memory:
1) Purchase of my house at 100% market value (be careful as previous location packages were only 95%)
2) 10% pay increase
3) One years salary as a lump sum (subject to 40% tax)
4) Cost of moving up to, I think, £8000 tax free
5) Help with mortgage repayments (interest only) for the difference in cost for same size house (maximum of 3 years).
6) Help with increase in private school fees or increased child care (maximum of 3 years)
7) Option to rent in new location for up to 6 months with all rent and travel costs met (some people took the piss and ended up renting in the new location for free and renting their old houses out for a lot longer than 6 months!)
8) Various individual negotiations. A large number of people were moving and many negotiated various deals to make the move easier.
For this, the company expected you to remain with them for a minimum of 2 years. If you left before then you had to pay it back.
1) Purchase of my house at 100% market value (be careful as previous location packages were only 95%)
2) 10% pay increase
3) One years salary as a lump sum (subject to 40% tax)
4) Cost of moving up to, I think, £8000 tax free
5) Help with mortgage repayments (interest only) for the difference in cost for same size house (maximum of 3 years).
6) Help with increase in private school fees or increased child care (maximum of 3 years)
7) Option to rent in new location for up to 6 months with all rent and travel costs met (some people took the piss and ended up renting in the new location for free and renting their old houses out for a lot longer than 6 months!)
8) Various individual negotiations. A large number of people were moving and many negotiated various deals to make the move easier.
For this, the company expected you to remain with them for a minimum of 2 years. If you left before then you had to pay it back.
RTB said:
For this, the company expected you to remain with them for a minimum of 2 years. If you left before then you had to pay it back.
Not had one myself but know a fair few who have.As you can see they were often very generous, but these days you need to be a very, very special candidate to get much more than the minimum most would expect of Legal and moving costs paid for. 6 month rents and the like are all 'add ons' to the minimum.
The other thing i would say is be very, very careful about payback clauses like the one above. IMO it is only fair that having relocated at the expense of Company A you should have to pay it back if you move to Company B within 2 years. BUT you choosing to leave Company A is not the the only reason why you may leave them. Few bad days with the boss 18mths in and "It's not really working out for us all as we had hoped" could leave you out of a job and with a fat bill to pay back. Make sure that if there is any claw back it is only if you leave "voluntarily to take up another role with another Company" or similar (proper employment lawyers are available and should be spoken to, this is just a point that occurs to me that i would be asking about and not legal advice.)
Depends on the company.
One company my wife worked for paid for pretty much everything. They bought our existing house off us at market rate and supervised it's ultimate sale, they paid for removals, stamp duty, solicitors fees etc - plus gave us an allowance for sundries.
That was a while back though (maybe 15 years).
More recently she worked for another company that just gave a lump sum and left us to sort it out ourselves.
One company my wife worked for paid for pretty much everything. They bought our existing house off us at market rate and supervised it's ultimate sale, they paid for removals, stamp duty, solicitors fees etc - plus gave us an allowance for sundries.
That was a while back though (maybe 15 years).
More recently she worked for another company that just gave a lump sum and left us to sort it out ourselves.
Hi,
The various bits in relocation may vary, but in my experience, they are all designed to make sure you are no worse off as a result of moving locations.
My company for example for international moves will pay school fees for an international school.
But yes, property costs, disturbance allowance, removals and such like should all be covered.
The various bits in relocation may vary, but in my experience, they are all designed to make sure you are no worse off as a result of moving locations.
My company for example for international moves will pay school fees for an international school.
But yes, property costs, disturbance allowance, removals and such like should all be covered.
From memory (it was March 2000)
1. All moving expenses (including stamp duty, estate agency, solicitors, removals, etc)
2. Travel expenses for many trips back and forth (I moved to the Isle of Wight from Leeds)
3. Hotel/ accommodation/ food whilst house sale went through (me and girlfriend)
4. Cattery for two cats.
Mike
1. All moving expenses (including stamp duty, estate agency, solicitors, removals, etc)
2. Travel expenses for many trips back and forth (I moved to the Isle of Wight from Leeds)
3. Hotel/ accommodation/ food whilst house sale went through (me and girlfriend)
4. Cattery for two cats.
Mike
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