A new job, a new city ... Relocating is exciting -- an opportunity for a major life change. But, if not carefully planned, it can also be expensive, stressful and a recipe for disaster.
You don't have to go it alone. Some employers may not only offer you financial help to relocate, they may even assist in planning and organizing your move.
When relocating, you just need to know what to expect, what to request and how to ask for it.
Decide Who's Footing the Bill
Before you begin your job search, you need to decide if you are willing (and able) to pay for your relocation, or if you need your employer to do so.
Relocating an employee is expensive: Companies who relocate new employees pay an average of $49,469 for homeowners and $14,001 for renters, according to the Employee Relocation Council.
Some companies are very generous with their relocation assistance. But many more don't offer financial help for relocation, especially in a tight job market.
One word of warning: If you only pursue jobs at companies that offer relocation assistance, you'll probably be limited in where you apply.
Cover Your Bases
Many employers favor local candidates simply because they don't need assistance to relocate.
So, if you're planning to pay for your own relocation, be sure to state that in your cover letter.
Don't go into great detail about the reason you're relocating or your financial situation. Keep it simple. Something like, "I will not need relocation assistance," is all you need to say.
However, if you do plan to ask for relocation assistance, don't say so in your cover letter.
Read the Fine Print
Before you accept a job offer, be sure to find out exactly what the relocation assistance entails (if anything).
Some companies offer a one-time payment that you can use to cover relocation expenses. It's your responsibility to plan and organize your relocation. If you spend more than the company awarded you, you'll have to pay the balance. But, if you spend less, the company will often allow you to keep the remainder.
Other companies will organize the relocation for you. They'll hire someone to move you and, if you're lucky, they'll even hire someone to pack your belongings. In these cases, the company generally covers the whole cost of the move.
While these are two of the most common scenarios, companies can be creative with relocation packages. Get the specifics of your package in writing and clarify any details that you don't understand before you accept an offer.
Don't Be Afraid to Negotiate
Relocation assistance is part of an employee's compensation and benefits package. And, just like salary and vacation, it is often negotiable.
Keep these factors in mind when negotiating your package:
Companies usually offer more relocation assistance to executives and senior employees. They also generally will pay more to relocate someone who has unique skills or experience that is hard to find locally.
Because rural or small-town employers don't have as large a pool of qualified candidates as urban employers do, they may also be more willing to negotiate relocation assistance.
