How much is a typical relocation package?

An average relocation package costs between $21,327-$24,913 for a transferee who is a renter and $61,622-$79,429 for a transferee who is a homeowner. Of course, this number is just an average of what larger corporations are spending on employee relocation – the relocation amount can be anywhere from $2,000 – $100,000.

What’s included in a relocation package?

What can be included in a relocation package?

  • Packing service.
  • Moving company and insurance coverage.
  • Home-selling assistance.
  • Paid-for house hunting trip.
  • Temporary housing.
  • Auto travel reimbursement.
  • Other relocation expenses.
  • Lump-sum.

What is the average lump sum relocation package?

How much should a lump sum relocation package be? For a flat lump sum, you should expect typically between $1,000 and $7,500. According to Dwellworks, employees across the nation receive an average lump sum of $7,200.

How do I get a relocation package?

Ask your new employer’s HR department if the company has a written relocation policy or if it offers standard benefits. Find out who at the company has recently moved, and ask about their relocation packages. Ask your friends or other contacts in similar firms about their experiences or their companies’ policies.

Is it OK to ask for relocation assistance?

Yes! You can negotiate your relocation assistance package. In fact, if you are having trouble negotiating a higher salary, your relocation assistance package can be a way for you to get more money upfront. If the company expects you to move for your job, it should provide you with some kind of relocation assistance.

Can you negotiate relocation package?

While most employers will have a standard package of relocation assistance benefits, you can often negotiate for a package that suits your needs better.

What is a reasonable relocation package?

A core or typical job relocation package usually covers the costs of moving and storing furnishings and other household goods, along with help selling an existing home and costs incurred house hunting, temporary housing if necessary and all travel costs by the employee and family to the new location.

How do you negotiate relocation expenses?

How to negotiate relocation assistance

  1. Research typical relocation packages. The first step is to find out what kinds of relocation assistance are typical for someone in your particular situation.
  2. Assess your own needs. Ask yourself what you might need from a relocation package.
  3. Emphasize mutual benefits.

What is a lump sum relocation package?

If you’re not familiar with the concept, a lump sum relocation typically consists of a single, fixed amount provided to an employee by an employer to move to a destination. Global mobility professionals often view this as a simple way to get employees into a new role quickly.

What does relocation usually cover?

What is a good relocation bonus?

Relocation packages cover a wide spectrum. A new college grad might be offered a one-time, $2500 bonus to cover moving expenses. That’s about the lowest acceptable relocation bonus. The new grad has to use the bonus to get themselves to the new location.