Leaving Bloomberg/Repaying Relocation Bonus and Fees
In Bloomberg's terms for their relocation package they mention that one needs to pay back their relocation benefits' value prorated to how many months are left until the 2 year anniversary of their start date. Any idea how much you end up paying back in practice? I know it's prorated 1/24 for every month you have remaining toward the 2 year mark. What was the full value of a relocation that included moving all my stuff across the border as well as temporary housing for a month? I have some numbers on my paycheck that were "paid to me" for the year that include ReloTax ReloMisc After Tax Relocation Offset Deductions As the ReloTax number in particular is quite high, I hope that's not the number that simply accounts for the taxes owed on relocation, because in that case I am pretty screwed. Thanks in advance to the community.
OP what was the final number as a function of the numbers of the paycheck listed in your post?
The full amount should be in your relocation letter. I left when I was 1y8m into the 2year mark, I end up paying back ~2k
I appreciate the comment, and my sign on bonus was definitely included in the relocation letter, but there were much more significant costs involved as well, like immigration fees, relocation of belongings, a month of free housing, help with taxes, help with finding an apartment, the list goes on. The package is quite generous for senior hires, and I'm worried that it is therefore quite expensive. 2k sounds right for 1/4 of a sign on bonus, but I would expect the other things to have a total value of upwards of 20 or 30 thousand.