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Powertrain Engineer, with MBRDNA in Michigan. I have the opportunity to relocate to California (Long Beach) - same role, same team. YoE ~ 2.5 TC ~ 95 k How much compensation upgrade should I expect considering the current situation? Any thoughts welcome. #auto #relocationpackage
Need at least 30k increase just for col change.
You want to target a 30-40% increase to maintain a similar lifestyle moving from LCOL Michigan to HCOL California. Even then you're likely putting less in the bank. I just moved from MI to CA. My income went up 40%. Fiancée went up 90%. We're living about the same here (Bay Area) as we did in MI (north metro Detroit).
If you are staying with the same team in the same role, it is unlikely they are going to give you more than a 10% cost of living adjustment. If you are moving to a new company, you have a much better chance of increasing TC by 30% or so.
Are you moving within the company? Same role, same team... same level? I would ask for 30K more... that is realistic. But depending on what level you are. Relocation package should also be provided for internal movements within the company.
Your TC? I like to use this tool when comparing offers in different locations https://money.cnn.com/calculator/pf/cost-of-living/index.html. Looking up similar roles in the area at similar YOE might help too.