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How much money would it take to relocate?

Home ▸ Archive ▸ Serious Business ▸ How much money would it take to relocate?
thedynasty1998's avatar

thedynasty1998

Senior Member

6,844 posts
Aug 23, 2012 9:55 PM
Here in the next couple months I am going to have the opportunity to interview for an out of state position with my current employer. Could be anywhere in the US.

I am curious as to what salary it would take for you to move out of state?
Aug 23, 2012 9:55pm
Wildcat24's avatar

Wildcat24

Senior Member

261 posts
Aug 23, 2012 10:01 PM
It would take some serious money to get me to leave Alaska. Probably 6 figures.
Aug 23, 2012 10:01pm
thedynasty1998's avatar

thedynasty1998

Senior Member

6,844 posts
Aug 23, 2012 10:02 PM
Wildcat24;1253331 wrote:It would take some serious money to get me to leave Alaska. Probably 6 figures.

Is $100,000 serious money?
Aug 23, 2012 10:02pm
Pick6's avatar

Pick6

A USA American

14,946 posts
Aug 23, 2012 10:05 PM
thedynasty1998;1253334 wrote:Is $100,000 serious money?
I'd reckon compared to the (probable) low cost of living in Alaska.
Aug 23, 2012 10:05pm
gerb131's avatar

gerb131

Senior Member

9,932 posts
Aug 23, 2012 10:18 PM
It's all about location I guess. I mean they offer Phoenix or Miami I'm down but if they offer Topeka Kansas it's going to take some cashola.
Aug 23, 2012 10:18pm
thedynasty1998's avatar

thedynasty1998

Senior Member

6,844 posts
Aug 23, 2012 10:21 PM
It would be a major metropolitan. The known locations so far are Boston, NYC, Charlotte and San Fran. It's a traveling job so you don't necessarily have to live in the cities.
Aug 23, 2012 10:21pm
A

adog

Senior Member

567 posts
Aug 23, 2012 10:23 PM
As others have said, depends on location. I would check cost of living, livability of new city, and what of your personal interests they would have in that area before taking the offer. With that being said, would this offer possibly lead into a better offer and in a more desirable (to you) destination down the road?
Aug 23, 2012 10:23pm
THE4RINGZ's avatar

THE4RINGZ

R.I.P Thread Bomber

16,816 posts
Aug 23, 2012 11:07 PM
I'm sure each city will have a different salary associated with it in the offer. Sounds like this isn't the first time your company has relocated people and I am sure they are aware of the variance in cost of living in each city.
Aug 23, 2012 11:07pm
G

gut

Senior Member

15,058 posts
Aug 24, 2012 12:10 AM
Yeah, the position likely already has a fairly tight band for the salary. If he's already high or above at his current place, they may give him a COL. But it's not like it used to be, and mostly the assumption is if you are interviewing and wanting to relocate, then that mitigates things. You can look at typical salaries in NY, for example, and while they are higher (perhaps 20% on average), that hardly covers the COL.

The bigger issue is the relocation pacakge itself. Many companies will still pay a full pack and move, and sales commission on your house is fairly common. But because of what has happened in the housing market they aren't doing a lot for people underwater. Especially in this case of a voluntary move, the best case scenario is probably paying the sales commission and maybe 30 days for short-term housing/hotel in the new city.

Whatever you do, don't take the new position and move without satisfying any our your reloc and salary concerns first :D
Aug 24, 2012 12:10am
FatHobbit's avatar

FatHobbit

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8,651 posts
Aug 24, 2012 12:34 AM
It would take a lot right now. I have a fourteen year old daughter who lives with her mother and I don't want to move away when she is starting high school. After that I wouldn't mind moving someplace a little cooler than Ohio.
Aug 24, 2012 12:34am
S

sportchampps

Senior Member

7,361 posts
Aug 24, 2012 12:35 AM
My girlfriend relocated to Topeka, Kansas for work. I can get work pretty much anywhere so it doesn't matter where we live. We decided the offer was good because it was a 12k a year raise and 9k to relocate. (didn't have to pay back unless you stayed less then two years). We also knew with her job being in corporate retail that the experience there would allow her to have multiple job offers in Columbus within the two years or after if we decided to move back. We loved in Lawrence, Kansas which was a great college city for just shy of two years before she got an offer back in Columbus we couldn't say no too. She had to pay like 2/24 of the relocation money back. That time she got another 13k salary increase and 9k relocation ( don't have topaz back after 1 year.) she worked there for 13 months and was recruited by another Columbus retailer and given another huge raise. None of this woulda happened if she didn't relocate to Topeka for work. She is on track to be a VP by the time she's 35 and be making 150k a year. You have to look at the whole picture and see what is right for you. We were young when this happened so we didn't have much established that we were leaving behind. She now gets contacted by headhunters weekly and were considering moving to Chicago in a couple years if the right offer comes along.
Aug 24, 2012 12:35am
FatHobbit's avatar

FatHobbit

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8,651 posts
Aug 24, 2012 12:35 AM
thedynasty1998;1253334 wrote:Is $100,000 serious money?
I think for most people 100k is serious money. Maybe not everyone, but most.
Aug 24, 2012 12:35am
S

Sonofanump

Aug 24, 2012 12:38 AM
$500,000 over the lifetime of employment, either in prorated singing bonus or raise over the years.
Aug 24, 2012 12:38am
S

sportchampps

Senior Member

7,361 posts
Aug 24, 2012 12:44 AM
BTW brother in law works for Goodyear when he relocated two years ago Goodyear allowed him to put his house on the market for what he paid when he had bought in for 13 months prior. After 90 days if the house didn't sell Goodyear would purchase the house and pay all commissions and the full asking price. They also paid his closing costs on a new house in Nashville as well as a very nice amount for relocating. Even with that great deal he regrets moving because while he loves Nashville his wife is pregnant and he wants to be back closer to his family. When he asked to be transferred back they basically said it cost them so much money to transfer him that their gonna need to keep him there longer. So now he's either stuck 7 hours from his family with his first child due in 3 months or he has to find a new job.

So basically look at where you are now in life and where you might be in a few years and decide if you would mind being there even in a few years.
Aug 24, 2012 12:44am
Commander of Awesome's avatar

Commander of Awesome

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23,151 posts
Aug 24, 2012 1:00 AM
I'd take the same pay to leave Ohio honestly. Not even trying to rag on or troll. Pay me to live in a major city? OK yeah I'd def do it. Nothing but opportunity.

For the actual question, do whatever is the worst for you. Thanks.

BTW, typical humble brag look at me post from dynasty.
Aug 24, 2012 1:00am
Glory Days's avatar

Glory Days

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7,809 posts
Aug 24, 2012 3:25 AM
About tree fiddy
Aug 24, 2012 3:25am
M

Manhattan Buckeye

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7,566 posts
Aug 24, 2012 5:17 AM
Not U.S, but internationally for us it was a US$200,000 buyout, two free trips each home to the U.S. (coach class, my wife upgrades whereas I stayed home last year and am not using my ticket this year since it is taxed), a partial gross up on taxes (very complex) but otherwise no other consideration.

The buyout was supposed to make us whole but due to the #$&%^ U.S. economy it likely won't in another year. Not to take this to the political board but our housing market is in a world of #^%$%. We have renters but no one is even interested in buying....for 15 months at this point.
Aug 24, 2012 5:17am
Wildcat24's avatar

Wildcat24

Senior Member

261 posts
Aug 24, 2012 5:42 AM
Pick6;1253339 wrote:I'd reckon compared to the (probable) low cost of living in Alaska.
It would be a lot to my household at this stage in our lives. Before our daughter was born we were making a combined 120,000, but with my wife staying home it's been cut down. We have no debts though, so what we do have gets stretched pretty far.

And yes, I'd agree that 100,000 is a lot to a great deal of people.
Aug 24, 2012 5:42am
ernest_t_bass's avatar

ernest_t_bass

12th Son of the Lama

24,984 posts
Aug 24, 2012 7:32 AM
As long as the pay enables me to sustain the same standard of living that I have now, plus an extra $10,000 in the bank per week, then that would be OK.
Aug 24, 2012 7:32am
like_that's avatar

like_that

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26,625 posts
Aug 24, 2012 7:39 AM
Commander of Awesome;1253498 wrote:I'd take the same pay to leave Ohio honestly. Not even trying to rag on or troll. Pay me to live in a major city? OK yeah I'd def do it. Nothing but opportunity.

For the actual question, do whatever is the worst for you. Thanks.

BTW, typical humble brag look at me post from dynasty.

I agree 100% with everything in this post.
Aug 24, 2012 7:39am
derek bomar's avatar

derek bomar

Senior Member

3,722 posts
Aug 24, 2012 8:25 AM
I thought you already interviewed - this a different gig?
Aug 24, 2012 8:25am
4cards's avatar

4cards

Ohio Chatter Legend

2,551 posts
Aug 24, 2012 8:34 AM
thedynasty1998;1253353 wrote:It would be a major metropolitan. The known locations so far are Boston, NYC, Charlotte and San Fran. It's a traveling job so you don't necessarily have to live in the cities.
...if it's NYC, you'll starve on 100,000
Aug 24, 2012 8:34am
derek bomar's avatar

derek bomar

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3,722 posts
Aug 24, 2012 9:42 AM
4cards;1253584 wrote:...if it's NYC, you'll starve on 100,000
it's obviously not a ton for the area, but you can live ok on 100k in NY as long as you're not living on Manhattan
Aug 24, 2012 9:42am
S

Sonofanump

Aug 24, 2012 9:44 AM
Sonofanump;1253487 wrote:$500,000 over the lifetime of employment, either in prorated singing bonus or raise over the years.
Obviously expodentally more if it is a large cost of living increase (NYC, SoCal) or out of the country.
Aug 24, 2012 9:44am
Automatik's avatar

Automatik

Senior Member

14,632 posts
Aug 24, 2012 9:47 AM
wtf kind of vague post is this? Out of state, but could be anywhere?

I'd move practically anywhere if the money was right and if I knew it wasn't permanent.
derek bomar;1253643 wrote:it's obviously not a ton for the area, but you can live ok on 100k in NY as long as you're not living on Manhattan
You can live off 100k easily in Manhattan as long as you're not a dumbass. NYC is expensive, but people exaggerate it big time.
Aug 24, 2012 9:47am