How to Get Your New Company to Pay for Relocation Expenses
You’ve landed an exciting new job in an exciting new place. Congratulations! Now all that stands in your way is moving there. But since corporate relocation expenses can cost upwards of $20K for renters, here are some strategies for getting your new company to foot the bill.
Relocation costs can be staggering. According to Worldwide, Employee Relocation Council, relocation can costs $60,000 for homeowners and $18,000 for renters. That can be a heavy burden to bear if your company won’t cover the bill.
We’d hate to see that happen. That’s why we’re giving you some advice on the best ways to get your future company to help pay for the move. And if they flat out can’t or won’t help, we’ve got some suggestions for how to make relocation as affordable as possible.
Think about relocation assistance before you even apply for a job
Thinking about relocation isn’t something that should wait until after you’re offered a position. In fact, planning ahead may increase the likelihood that you don’t have to move on your own dime, and can even help you land the job. Here are some tips to consider before applying to a job:
1. Create a plan: Plan for the worst along with the best. Get your finances in order in case your employer doesn’t help finance your move. Think about what you will do if you can’t sell your current home or are stuck in a lease. Then, share your plan with the employer at the interview. It will show them how serious you are about the job and the forethought will make you stand out from other candidates.
2. Think about friends and family: Look for a job in an area where friends or family already live. Not only can they help give you a feel for your prospective city, in the event that you can’t find housing right away, they may even give you a place to stay. (Temporarily, of course.)
3. Consider the market: Everybody flocks to big cities for jobs, so employers know there will never be a shortage of possible employees. Consider applying to jobs in a smaller town where there is less competition for jobs. Employers in these locations might be more desperate for employees, making them more inclined to help fund your relocation expenses.
Negotiate during the interview or when you are hired
You’ve applied for the job and had either an interview or even been offered the job. Now it’s time to get serious about relocation costs.
While you can’t be afraid to ask what your employer is willing to contribute, it’s not just about asking. It’s about asking at the right time with the right information. Here are some things to consider before you make your pitch:
1. Do your research: Get some mover quotes. Calculate the cost of living in your new location. Determine the right means of transportation, truck, U-Haul or train. Research can help you in many ways. First, it shows your employer that you are interested in getting the best deal for them as well as for you. It can also show you whether or not the employer offer is too low or high. Plus, showing some initiative never hurts.
2. Ask at the right time: Wait to ask about relocation assistance until the offer is firm. At that point, you know the company really wants what you have to offer. Then you can ask if the company is willing to chip in.
3. Show your enthusiasm: Everybody loves to feel appreciated, including your boss. Reaffirm how excited you are for the job. An employer is more likely to consider funding at least some of your moving expenses if he or she knows you are going to be an enthusiastic, valued member of the team.
What if they won’t help with relocation costs?
You did everything right. You came in with a plan, you got the job, and you negotiated with your future boss. But whether the company simply doesn’t have the cash or your boss is stubborn as a hangnail, you keep hearing that dreadful word: no.
If you still want to take the job, planning is once again going to be key. (You may be seeing a trend starting to develop.) Here are some ideas on how to make moving affordable.
1. Only take what’s important: Cargo space is costly, so the more you can condense your belongings, the cheaper it will be. We know you love your magic bullet, blender and immersion blender equally, but now might not be the time to play favorites. Don’t worry, you’re not going to hurt their feelings.
2. Gather several moving quotes: Don’t just settle for one moving company, get quotes from several. Some may be cheaper than you thought for your particular situation. Plus, they may end up competing over you for the lowest price. Boo-ya.
3. Take advantage of free: Don’t spend money on moving boxes, packing paper and padding materials. If you look hard enough, you can find all these things for free. Newspaper makes a reliable, easy-to-find free alternative for packing fragile items.
Don’t overlook free transportation. Cash in on that favor a friend with a truck owes you. Or, if you are moving to an exciting new place, perhaps that friend will want to join you. Even a little bribe will be a heck of a lot cheaper than using a rental company.
There’s plenty to be amped about for your new job, but we realize that moving can be a hassle, and an expensive one at that. Remember, plan, plan and then plan some more. Hopefully your future employer will show his appreciation by helping cover the costs. If not, you’ve got some great tips to make the whole process easier. Happy moving!