What options are available for relocation within a company?
January 11, 2012 7:47 PM   Subscribe

What resources would I need to move to New York? I've been offered (unofficially by the boss of my boss) to change jobs within my company and move 400 miles away to the head office in NYC. The ball is in my court to figure out what I would need to make this happen, but I am at a loss as to where to begin the negotiation!

How much of a bump in salary would I need to adjust for cost of living? I've used CNN's COL calculator [ http://cgi.money.cnn.com/tools/costofliving/costofliving.html ] and it adds roughly 20k to my salary as being comparable. Is that fair to ask for? Or is there another method?

If I asked for the company to pay for the move, what is a reasonable cost of moving a two bedroom apt. that far? Or would a big company like mine just swoop in and take care of booking the movers etc.?

MOST important: how slowly can I transition into this new role? Would it be fair to ask to start commuting there first a couple days a week and then several days a week, then perhaps for weeks at a time, or something of that nature? Has anyone accomplished smooth transitions like that before?

Presumably they want me, but how long can I try to take before making the full move, eventually with my wife in tow? Can I ask politely to be flown to NY, rented a hotel room a few nights a week, and periodically allowed to work remotely for 5 months until my lease is up? No? How about 2? 3? Or instead would I have to take care of getting a sublet or room share near Manhattan on my own dime and traveling home every few weeks for a week at a time instead?

I've never been in this (somewhat fortunate, somewhat terrifying) situation before and don't know what reasonable expectations might be for this kind of thing. I can't ask any of my coworkers in the local office since it is not yet officially on the table. Moreover, I may not be able to say no to this offer and keep my current position, so I don't want to start demanding benefits left and right only to hear: "No, be here in one month or nothin'" So I turn to you AskMe professionals!

I'm in the e-commerce product-development business if it matters.
posted by anonymous to Work & Money (14 answers total) 1 user marked this as a favorite
 
There are so many variables here...

Do you want to live in New York City or its suburbs? New York City is extremely expensive and the rental market is very tight.

If you do want to live in NYC, where in the city do you want to live?

What kind of lifestyle do you want to have?

I ignore things like CNN's cost of living tool because NYC is a different beast than most of the rest of the country.

Go to streeteasy.com and start looking at rental listings there. See how much you can afford in different areas of the city, given a certain salary level. Be aware that most landlords will want your annual salary to be at least 40x your monthly rent (i.e., a $3,000 per month apartment would require an income of at least $120,000, etc.)

To some extent, the above is not such a concern if you don't live in Manhattan...but it's still an expensive city.

Etc.
posted by dfriedman at 7:54 PM on January 11, 2012


Supposedly, and I grew up there, NYC is always expensive and always hard to find a rental. Funny, we all manage it anyway. I've always had nice apartments in desirable neighborhoods. And I'm cheap!

One thing is you will need is for your company to pay the rental fee - the fee you'll pay an agent when you sign your lease. It's usually in the neighborhood of $1500 to $5,000 depending on the size and rent on your apartment. Rental agencies are proliferate. They typically don't all have the same inventory, so you want to go see a few.

OH! These agencies are notorious for posting adverts for apartments that don't exist just to get you in the door. Be wary of that.

Is your office in Manhattan? Believe me when I tell you a thousand times you will sacrifice too much money commuting and way way too much time if you don't live near your office, or at least on the same damn subway line.

Brooklyn has more trees. I still wouldn't live there, even though it is pretty desirable at the moment. It's the commute time and the cost of cabs at night to go over the bridge at night. No savings there, possibly a quieter quality of life if you are into that. Or having children soon.

I would live in Douglaston, Queens, tho! You would have a short commute on the LIRR into Manhattan. It's just super super cute and quaint. On the water. I like water.

Otherwise, Manhattan.

If you can pay a higher deposit, you can get around the salary requirements for most landlords. I worked in real estate in NYC. This is true.

-----

Your company should pay your move, the fee, and a salary increase. They should have guidelines for this. I'm dubious about this offer because you have to "do it on your own." That smells fishy.

If they just asked you to come up with some numbers... ask for slightly higher than you think you'll need. It's OK if you get negotiated down on some numbers and you can still swing the move, but you do NOT want to doing this out of pocket if this isn't your life's dream.

------

FWIW, I find Manhattan cheaper than SF. Also, Your salary and other trade-offs usually make it all work out. (For example, you can rent a car for weekends occasionally and cut car insurance, gas, and maintenance right out of your budget!) It's not all that crazy expensive with the trade-offs, is what I am saying.

-------

ALMOST FORGOT....

You can negotiate out of your current lease for a small fee - maybe a months rent or so. This is common, landlords deal with tenants needing to move for work all the time. Your company should absolutely pay this penalty.

Whatever you do, don't pay double rent where you are, and in NYC. That's financially foolish.

-------

Good luck.
posted by jbenben at 8:21 PM on January 11, 2012


Cost-of-living calculators are only a start and wildly misleading. If the don't compare zip code to zip code, and not city to city, they're useless, especially for New York City, where the difference between zip codes can be like the difference between Palm Beach and Peoria.

When I moved across country, my employeer paid all moving costs: movers, moving van, some nights in a hotel, car rental. I'd consider those as minimum requirements.
posted by Mo Nickels at 8:26 PM on January 11, 2012


Oops, one more thing..

You can NOT find a great deal if you are not in town, and without diligence. A lot 2 weeks with the expectation that this will be a full-time job to find a place. Be ready with money for certified checks - you'll need this for a deposit and to sign a lease.

Your employer should also reimburse you for any credit check fees. You will likely fill out lots of credit check applications.

If your requirements for an apartment are snazzy, and you have a generous rental stipend, you could likely find a place remotely over the internet. But mostly, you have to see the place in person and be ready to pounce on the right deal.
posted by jbenben at 8:28 PM on January 11, 2012


When one friend started her first job (teaching high school) and needed to move, the school gave her 2k in relocation assistance.

A friend in industry recently moved c.200 miles and got 24k. Not a typo.

I would ask for the salary bump- hell, ask for 30k- and a fixed amount in relocation expenses that would cover breaking your old lease, your deposit and first/last on an NYC place, and the cost of actually moving things/furniture/yourself from old place to NYC. Honestly, I don't think 20k is too much.

Yes to Mo Nickels who says they should cover your hotel, car rental, etc.
posted by Snarl Furillo at 8:30 PM on January 11, 2012 [1 favorite]


I moved here about 4 years again from a major metro area, and found the transition fairly easy.

Here is my first question. Have you been here before? If not, try to arrange to come visit for a few days. Just to get a feel for the city.

Where are you moving from? What is the cost of living where you are now?

As far as bumps in salary, I can only tell you that in my case, I had an adjustment of much more than 20k, and I feel it was comparable. Everything here is more expensive, from rent, to groceries, and everything in-between.

Moving will be dependent on how much you have (for a long-distance move, it will be your weight that determines price), when you move, and other factors. If the company wants you to come here, they either pay a company directly, or reimburse you for the move in most cases. If they want you to get numbers, most movers will provide a free estimate.

I actually moved to NYC and remained working for the same company, except I work at home. I took two weeks off, packed up my old place, moved, and got set up in my new place. I can't really speak to the type of transition you'd desire.

The rental market does move fast here, so regardless, you'll probably have only a few weeks to look at listings, make a decision and move. I'd discuss the rental market in NYC with your bosses, as often it is much more expensive to secure an apartment (broker's fees plus deposit) and they should be able to assist you there.

Is your company willing to put you and your family up in corporate housing for a month or two while you look for a suitable apartment? That seems like it might be the easiest thing in your situation. You could also try a sublet for a few weeks while you acclimated.

I think if they don't have a formal relocation package, you need to line item everything: the move, the cost of moving out of your old apartment, the cost of the new apartment here and the potential transitional residence (hotel or corporate apartment) while you locate an apartment.

Good luck!
posted by carmenghia at 8:30 PM on January 11, 2012


Good advice upstream here. NYC is very expensive and you'll do well to have your company pay for as much as you can get them to agree on--especially broker's fees, moving expenses, and a gross-up for cost-of-living and higher NYC taxes. Your company very likely expects to make these kinds of concessions, so don't be shy about asking.

**Since you're moving to an established office, you should identify people in the office who are working analogous (or parallel-level) jobs and ask them about their living situations. If you can have very candid conversations about costs, then that's even better. That should also help you gauge what to ask for and what the company considers reasonable.

You should also not be afraid to ask your manager to advocate for you to help you get the best deal out of your company.
posted by yellowcandy at 10:39 PM on January 11, 2012 [1 favorite]


Brooklyn has more trees. I still wouldn't live there, even though it is pretty desirable at the moment. It's the commute time and the cost of cabs at night to go over the bridge at night. No savings there, possibly a quieter quality of life if you are into that. Or having children soon.

Not all places in Manhattan are quicker to go to from all other places in Manhattan. Park Slope, Brooklyn Heights, and BoCoCa have a comparable or better commute to lower Manhattan than Harlem does, for example.
posted by Sticherbeast at 5:38 AM on January 12, 2012 [1 favorite]


Not all places in Manhattan are quicker to go to from all other places in Manhattan.

QFT. Brooklyn Heights/Cobble Hill (while among the most expensive neighborhoods in Brooklyn) have arguably better subway commutes than many intra-Manhattan commutes, as all the north-south subway trunk lines (2/3, 4/5, N/R, A/C/F/R) converge there.
posted by andrewesque at 5:43 AM on January 12, 2012 [1 favorite]


What's your budget?

Do you want to keep a car?

Do you have an SO, kids, et al.?
posted by Sticherbeast at 5:56 AM on January 12, 2012


Mod note: From the OP:
Thanks for suggestions so far. Any answers about the timetable, how I might slowly transition to working in NYC, especially if you've heard of or done that before--would be highly appreciated!

>>What's your budget?

Isn't that what we're determining? Personal budget? I pay 2k for a 2 bedroom now and would like something similar.

>>Do you want to keep a car?

Yes!

>>Do you have an SO, kids, et al.?

SO/No kids.

>>Do you want to live in New York City or its suburbs?

Don't care! Lower commute times are important. As is not being broke.

>>If you do want to live in NYC, where in the city do you want to live?

My work is in Downtown Manhattan. Should I assume for COL and rental fee negotiations that they think I'm living in the same area rather than Brooklyn or Queens?

>>Have you been here before?

Yep! Lived in lots of cities.

>>Is your company willing to put you and your family up in corporate housing for a month or two while you look for a suitable apartment?

I don't know but you're right, this is a great solution if it exists! Is this common?

>>Where are you moving from? What is the cost of living where you are now?

Moving from the suburbs of a major city, so my COL is not that low, but of course not Manhattan level.
posted by jessamyn (staff) at 7:22 AM on January 12, 2012


You need to budget around $4500/mo for two bedrooms and parking in Manhattan, $2500-$3500 elsewhere. The only short commutes downtown are Brooklyn, Hoboken, and Jersey City. Include city (if living in NYC) and state tax in your assessment of net income. $2500/mo after tax higher rent and parking plus misc other cost increases in Manhattan requires around $50k higher salary.
posted by MattD at 10:20 AM on January 12, 2012 [1 favorite]


If you want a 2BR in Manhattan, budget for rent of between $4,000 and $5,000 per month, or $160,000 to $200,000 per annum.

$2,000 2bedrooms have not existed in Manhattan for well over a decade.
posted by dfriedman at 4:41 PM on January 12, 2012


$2,000 2bedrooms have not existed in Manhattan for well over a decade.

This is not true. I'm not saying these are good apartments, but they sure as hell exist.
posted by Sticherbeast at 4:49 PM on January 12, 2012 [1 favorite]


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