While moving to a new area for work can come with plenty of opportunities, it can also come with a large amount of financial stress. This is especially true if you’re moving across the country or need to bring many of your possessions with you.
Oftentimes, though, your new employer will compensate you for your move so that it’s less of a financial burden. This is called relocation assistance!
It can be unpleasant (and sometimes awkward), though, to ask about your new company’s relocation package since moving costs can often run into the tens of thousands.
Not sure where to start? Don’t worry, we’ve got you covered. Let’s take a look at everything you need to know about how to ask for relocation assistance.
Everything You Need to Know About Requesting Relocation Assistance for Your Move to DC
Relocation assistance helps cover moving costs: Employers often offer relocation assistance to help ease the financial burden of moving, which can include reimbursement for moving expenses, lump-sum payments, or third-party relocation coordination.
Calculate your moving expenses first: Before asking for relocation assistance, create an objective list of your moving costs, including factors like the cost of living in Washington DC, selling or breaking leases, and other personal accommodations.
Research your company’s relocation policy: Check with your new employer or their HR department to understand what types of relocation assistance they offer and the specifics of their policy. If not available, you can also ask your recruiter or research other companies’ packages.
Different types of relocation packages: There are various types of relocation packages, including reimbursement, third-party relocation assistance, or a lump-sum payment. Understanding the details of each package can help you make an informed decision.
Reimbursement packages: Many companies will reimburse moving expenses, but they usually have a ceiling on how much they will pay. Receipts for all purchases are typically required.
Third-party relocation assistance: Some companies hire a relocation coordinator to assist with moving, rental assistance, and storage. This can be especially helpful if you need additional services like selling a home.
Lump-sum packages: A lump sum is a pre-determined amount provided to cover moving costs. While it offers flexibility in how you spend it, once the amount is spent, no further compensation is provided.
Negotiating with your employer: If your company’s relocation budget doesn’t meet your needs, consider negotiating for additional support, such as a signing bonus. Always get any relocation agreement in writing.
Know how to ask for relocation assistance: Approach your employer with a clear understanding of your moving costs and be prepared to negotiate. Knowing the details of different relocation packages can help in making this discussion easier.
Calculate Your Expenses
Sometimes, the best job for you isn’t in the city where you currently live. It’s not at all uncommon for companies to interview out-of-state applicants from over the phone or video conversations.
In order to optimize your chances of getting as much compensation as you need, you’ll need to make an objective list of your moving costs. This number will heavily depend on a handful of factors, but typically includes:
- How quickly you need to begin working at your new place of employment
- The ease at which you can leave your current residence (breaking a lease, selling your home, etc.)
- How easy you are to accommodate in your new city (just you vs. a wife and two kids)
- Moving-related expenses (hiring movers, renting a truck, etc.)
These are just basics, though. You’ll also need to consider how high the cost of living is in Washington DC. If you’re coming from somewhere relatively rural to a more-populated area, then you’ll likely see a sharp increase in price when looking to rent/purchase a property.
Your spouse may also need financial assistance while searching for a new place to work in the city.
The better you can define your expenses, the better chance you’ll be able to successfully negotiate with your new employer.
Research Your Company’s Relocation Assistance
After you’ve got an idea of how much you’ll need in order to relocate comfortably, your next step will be to research what you can expect from your company.
To learn more, you can contact the business’s HR department and ask if they can provide you with a written statement with details of the company’s policy. If you don’t have contact info for this individual, you can contact your new employer.
For those who secured their position through a recruiter, the recruiter should be able to provide you with all of the information you need to have when it comes to relocation.
If all else fails, you can research the relocation packages of similar firms in order to get a general idea of what to expect.
Different Types of Relocation Packages to Expect
You won’t always receive a check from your company and free reign of how you spend it. While this scenario isn’t uncommon, there are other types of packages you need to be aware of.
Let’s take a look.
Reimbursement
Oftentimes, companies will reimburse you for your moving expenses as long as they’re reasonable in both price and context. For example, hiring professional movers is fine. Paying your friends hundreds of dollars to load a few items in the back of a moving truck isn’t, though.
Most companies also have a ceiling on how much they’ll reimburse, so don’t get too crazy with your spending. You’ll also need to keep your receipt for every moving-related purchase that you make.
Third-Party Relocation Assistance
Some employers will pay a relocation coordinator to handle your move. This company will provide guidance on living in DC, help you arrange for storing any necessary items, rental assistance, etc.
The amount your company is willing to spend will depend on your needs, such as whether or not you need to sell your home. In general, though, you’ll find that all of your moving costs will be covered.
A Lump-Sum
The previously-mentioned check that your company could hand you often comes in the form of a lump sum, which is a pre-negotiated amount to help you cover your moving expenses.
This relocation package is one reason why estimating your costs is so important, as having an accurate representation of how much you’ll spend on moving will ensure you get the money you need.
While you’ll have freedom in terms of how you spend this money, you often won’t get any other compensation after it’s gone. So, keep this in mind during your move.
Ask Your Employer
Once you’ve compiled the above info, you’ll be ready to approach your employer about relocation assistance (and also have an amount to start with during your negotiation).
While your new company may not be able to accommodate you in the exact way you need them to, they’ll often be flexible with their policies. For example, if you need more money than their relocation budget allows for, you may be able to secure the rest in the form of a ‘signing bonus’ instead.
After you’ve reached an agreement, make sure to get a statement in writing to ensure that the terms are officially set.
Knowing How to Ask For Relocation Assistance Can Seem Difficult
But it doesn’t have to be.
With the above information about how to ask for relocation assistance in mind, you’ll be well on your way to having a conversation with your employer about your big move to Washington, DC.
Want to learn more about how we can help? Feel free to get in touch with us today to see what we can do.
FAQs About Relocation Assistance for Your Move to DC
What is relocation assistance?
Relocation assistance is a benefit that employers offer to help cover the costs of moving when you relocate for work. This can include reimbursement for moving expenses, lump-sum payments, or third-party relocation services.
Why is it important to calculate my moving expenses before asking for relocation assistance?
Calculating your moving expenses helps you determine the exact amount you’ll need for the move. This allows you to approach your employer with a clear and objective list of your expenses, improving your chances of securing the necessary assistance.
How can I find out about my company’s relocation policy?
You can reach out to your company’s HR department or your recruiter to ask for details about their relocation assistance policy. If they don’t provide it directly, researching relocation packages at similar companies may give you a general idea of what to expect.
What are the different types of relocation packages I can expect?
Relocation packages vary but generally include reimbursement for moving expenses, third-party relocation coordination, or a lump-sum payment to cover moving costs. Each package has its own pros and cons, so it’s important to understand the differences.
How does a reimbursement package work for relocation expenses?
With a reimbursement package, your company will pay back your moving expenses, but only if they are considered reasonable. You will likely need to keep receipts for all moving-related expenses and will be reimbursed up to a certain ceiling set by the company.
What is third-party relocation assistance?
Some companies provide third-party relocation services, where a relocation coordinator helps manage the move, including finding housing, storage, and assisting with other moving-related tasks. This is typically offered for more complex moves.
What is a lump-sum relocation package?
A lump-sum relocation package is a one-time payment that covers your moving expenses. You have the flexibility to spend this amount as needed, but once it’s gone, there is no additional financial assistance provided by the company.
How can I negotiate with my employer if the relocation assistance isn’t enough?
If the offered relocation assistance doesn’t cover all your expenses, you may be able to negotiate additional support, such as a signing bonus. Be sure to get any agreement in writing to ensure the terms are clear.
What should I do before asking for relocation assistance?
Before asking for relocation assistance, make sure you have calculated your moving expenses. This includes costs like moving services, housing in the new location, and any additional support you might need. Being well-prepared will help you negotiate effectively.
