It’s here. Your dream job! Except unfortunately for you, it’s in another state — or even across the ocean. How can you best negotiate your relocation package to make this move possible? At George Moving, we handle employee relocation logistics every day, so below we’re sharing some of our favorite tips on how best to make sure you’re getting the most out of your relocation package and beyond.
Ask All the Questions
According to Zillow, more than 70 percent of companies offer relocation incentives for employees or new hires. If a relocation package isn’t mentioned during your new job offer, you might need to be the first to discuss it. Be sure to research what it will cost out-of-pocket if you were to try and move yourself. In the process, consider time off work and miscellaneous costs to help you make a case for your relocation reimbursements.
Ask for Extras
It’s important to know what kind of extras you can request — especially if you’ve never gone through a relocation before or haven’t moved internationally. A few things you can ask to have in your relocation package include:
- Guaranteed buyout (GBO) for your home
- Destination services (i.e., help with bank set-up and grocery shopping)
- Language training
- Relocation bonus
- For short-term assignments: bonus if project is completed early
- Vehicle transfers
- Cultural training
- Closing cost payment
- Mortgage points buy downs
- Employment assistance for your spouse
- Pet care
- Household grocery reimbursement (such as condiments and other liquids)
Decide What You Can DIY
If your relocation package is very minimal, you might consider doing parts of the move on your own. Occasionally, companies offer lump sum allowances for relocation services — you can decide to do parts of your move yourself, and use the cash payment for other new home expenses.
Know The Tax Implications
Relocation expenses are often tax-deductible if you’re active military or if they meet the IRS requirements. (Worth noting, these changed by law in 2018.) Remember to ask your accountant if your relocation meets the distance and time requirements. Additionally, payments can be made to your moving company directly from your employer, which means that amount doesn’t have to be reported as income for you. On the other hand, if your employer gives you a lump sum, that amount is usually taxed as earnings. Be sure to ask your accountant to help you consider all of your options.
Whenever you need to find movers or relocation services in any pocket of Pittsburgh, southwestern Pennsylvania, northern West Virginia or eastern Ohio, we’d love to talk! At George Moving and Storage, we offer free estimates —either in-person or virtual, depending on your schedule. Simply visit our website, or give us a call today at 800-810-2635.
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