Hi folks, I'm doing this relocation thing for the first time. My offer letter says the relocation amount will be 1month of my base salary up to a maximum. My base is going to be $200k. So does that mean the relocation will be $15k? Lastly, can I ask for a lump sum of this amount? Or does it mean they'll cover my relocation costs shipping, plane tickets etc upto that amount?
I'm pretty sure these are questions you can ask your recruiter as they might be the best person to know
That seems kind of cheap. I got relo’d by Apple and my base was similar to yours. Movers, flights, etc were covered (trans-pacific, business class for me and the family) and we got a moving allowance which was about $20K if I remember right.
Ah thanks. So you got a check for $20k less taxes?
Relocation amount is post taxed so you’ll get around 15k deposited into your account but then it will start showing up in your W2 and would have to pay tax accordingly. Bonus is pre-taxed. Atleast that’s what happened with me.
For me they paid for all moving expenses AND gave the 1 months salary as a lump sum (grossed up for taxes). It should be the same for you.
Ah I see, thank you!
There is a cap on the one month base that I think you will exceed. And yes it is grossed up, but only to that cap. Your recruiter should be glad to answer these questions for you, or if not him the relo people.
Does any one know what the cap on this amount is? My recruiter is saying its 7k (ICT4 SWE) but I doubt it.
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