If you’re about to make the decision to relocate due to a promotion or new work opportunity, congratulations! But before you jump all in, here are a few things to take into account.
Vern May, Economic Development Officer at Minnedosa & Area Community Development Corporation, says to consider the financial aspect of things when moving for a new job– aside from the salary offered.
“If you have been interviewed and offered a position, ensure that the negotiation includes a moving allowance. The costs for a move include more than just the rental of a truck and the gas you need to get to the town,” says May.
Costs to Consider
- Change of mailing address and forwarding of mail
- Change of personal documents (i.e. driver’s licenses)
- Hook up fees/deposits for various utilities
- Damage deposit for rental properties until a home can be found
- (If out of State/Province) Re-licensing vehicles, which may require a local safety assessment and any required vehicle repairs.
This is especially important when the job may have an expiration date (if there’s a contract good for only 2 or 3 years) consider that the company (or yourself) may not choose to stay in that location more than that time frame and decide if it’s worth the cost.
May also says that if you have a family, you should consider the cost of childcare in a new city.
“In many places, the waiting lists for childcare are long – sometimes up to a year. As soon as you have been given an offer for employment, start to investigate your childcare options- licensed daycares, private providers etc. Where childcare is available may dictate where you locate yourself temporarily or permanently, even if this means that you are going to have an added commute. Childcare can be one of the most significant details to firm up,” explains May.
And sometimes, even if the offer has an extreme salary or position upgrade, it may not be as much money considering the cost of living of the new community.
Don’t Just Go By Salary
May says to really check the benefits offered (health, 401K, holiday time and other perks) and see how much that amounts to in the big picture.
“You may find that if you are basing your decision on salary alone that your exciting offer isn’t so thrilling after all,” says May.
Lastly, May tells us to check with your mortgage provider if you’re looking to buy a home in the new city.
“Assess the housing market where you’re going and have a property in mind before you sell your home,” says May.
These are just a few of the things you should think about when making a career move. Remember that almost anything is negotiable, so feel comfortable addressing some of these things with your new employer. Sometimes they will make exceptions and provide something you need (that they weren’t originally offering) in order to keep you. Good luck!