New Job Relo. Know-Uh Ah-Bah-Hah-ters

[VeeJay]

I've got a boss - I think the fugger is bi-polar. Let's pretend his last name is "Melons." We've nicknamed him "Mt. Saint Melons" because he's prone to erupt without warning. In my area alone - and I've been with the co. for 2 1/2 years - we've seen a 200% turnover rate.

So I am the next casualty. I have a job offer in NC, which I am very close to accepting. The new co. will pay me around $7100 (taxable) as a lump sum payment for "incidentals" related to the move - this will include house hunting trips, my trips back to FL during the transition phase, etc.

The new co. will also send me RE brokers in FL and NC which I will have to work with in selling my existing home, then buying my new place in NC. The co. will pay for all closing costs for both homes, and also will pay all real estate commissions (6% of our home here is nearly $30 grand - I hope I don't get fired after that), and will pay for the actual move itself - the movers will even pack up a lot of our stuff (except jewelry, coin collections, furs, etc. Not that Mrs. VJ has a lot of furs lying around).

I have interviewed with two other companies in recent months and this is very comparable to what the other guys had in the relo. programs. I don't want to - and can't afford to lose much money on the move. We're looking at going from a 35 year old house to a brand new one and cutting our mortgage by around $125,000.

Thoughts on the relo. programs that are out there? Is this one fair by comparison?

[usmc-sooner]

I've got a boss - I think the fugger is bi-polar. Let's pretend his last name is "Melons." We've nicknamed him "Mt. Saint Melons" because he's prone to erupt without warning. In my area alone - and I've been with the co. for 2 1/2 years - we've seen a 200% turnover rate.

So I am the next casualty. I have a job offer in NC, which I am very close to accepting. The new co. will pay me around $7100 (taxable) as a lump sum payment for "incidentals" related to the move - this will include house hunting trips, my trips back to FL during the transition phase, etc.

The new co. will also send me RE brokers in FL and NC which I will have to work with in selling my existing home, then buying my new place in NC. The co. will pay for all closing costs for both homes, and also will pay all real estate commissions (6% of our home here is nearly $30 grand - I hope I don't get fired after that), and will pay for the actual move itself - the movers will even pack up a lot of our stuff (except jewelry, coin collections, furs, etc. Not that Mrs. VJ has a lot of furs lying around).

I have interviewed with two other companies in recent months and this is very comparable to what the other guys had in the relo. programs. I don't want to - and can't afford to lose much money on the move. We're looking at going from a 35 year old house to a brand new one and cutting our mortgage by around $125,000.

Thoughts on the relo. programs that are out there? Is this one fair by comparison?

the USMC sent me out to NC with a relocation package that was much less.

other than that I got nothin

[GottaHavePride]

they'll pay for you to move? there are obviously no musicians in charge of that company. If there were they'd say "Yeah, we'd love to have you work here. Buy your own plane ticket to come interview. Oh, and you'll be paying for your own hotel. Oh, and you can pay to move your own *** out here, too."

[King Crimson]

i'd rather pretend HER name was "Melons".

[Vaevictis]

From what you're saying, I'm putting that package at something like $55k or so.

Heh, how much more would you expect them to pay to move you? I think you're making out like a bandit.

[Preservation Parcels]

Excellent opportunity, it would seem.

Save every receipt for everything remotely connected with the process up to and including living expenses while you get settled for the 30 days following the move. Be prepared to receive a W-2 next year that classifies as income everything that the company pays for your move. You'll want to deduct all that is legitimately possible on form 3903 with your 2007 taxes.

The company giveth, and the IRS taketh away. I hope your move goes smoothly and that you love your new home.

[BajaOklahoma]

Have you met the people you will actually be working with at the new place?
What will you be doing, the same thing or something new?
Do you own any winter clothes?

Good luck. It sounds like it could be a great deal if you like the work/company.

[VeeJay]

Yes - I worked for the company 15-17 years ago. I'll be working with several people that are still there. I had a final interview with one of the guys last week and it was a formality. We cracked jokes and got caught up on the last 17 years. Talked about the actual job for maybe five minutes. Actually, this is the same type of work I'm doing now; slightly different. The offer came in at what I asked them for; I usually get low balled but not this time.

[CUinNC]

Yes - I worked for the company 15-17 years ago. I'll be working with several people that are still there. I had a final interview with one of the guys last week and it was a formality. We cracked jokes and got caught up on the last 17 years. Talked about the actual job for maybe five minutes. Actually, this is the same type of work I'm doing now; slightly different. The offer came in at what I asked them for; I usually get low balled but not this time.

Welcome to NC....and don't worry 'bout them clothes for cold weather..heck, we never saw anything this year except frost & my shorts stayed on me all winter...where 'ya moving to VJ?

[VeeJay]

Thanks, CU. I'm going to be looking around Fayetteville - probably around Hope Mills. The drive to work from there is abour 25 miles - I drive that here in Miami, so no problem.

[Howzit]

VeeJay, that's a pretty damn good package. When I moved to Dallas 8 years ago they paid comparable incidentals, closing costs, and some points (can't remember exactly how many - 2 or 3) but no realtor fees.

Sounds good to me...

[CUinNC]

Thanks, CU. I'm going to be looking around Fayetteville - probably around Hope Mills. The drive to work from there is abour 25 miles - I drive that here in Miami, so no problem.

Ah - the sandhills - good & close to the coast..best of luck, it can get stressfull finding new digs & all...

From what you wrote on your package, I think they've got you covered..it's generous IMHO based on other friends I know & the comp's they got when they transitioned...

Again, best of luck!

[fadada1]

gopher it!!!

you gotta look out for numba one!!! that's you. if your current company has a turnover rate like that, get out!!! pile on even more turnover. somebody will eventually take notice and make some major changes. problem is, you don't know when things will change (i'm in the same situation right now.. although my boss is great.. his boss is a moron... i moving out of state in 3 days).

take advantage of the opportunity - especially with all the help they seem to be giving you. don't look back 5 years from now and think, "dammit, i should have taken that other job."

[SoonerStormchaser]

VeeJay, you're an idiot if you DON'T take that package. The military doesn't even give you that great a deal.

[H8HOGS]

The real estate commission will also be taxable I believe...

[TheHumanAlphabet]

Excellent opportunity, it would seem.

Save every receipt for everything remotely connected with the process up to and including living expenses while you get settled for the 30 days following the move. Be prepared to receive a W-2 next year that classifies as income everything that the company pays for your move. You'll want to deduct all that is legitimately possible on form 3903 with your 2007 taxes.

The company giveth, and the IRS taketh away. I hope your move goes smoothly and that you love your new home.

What ever your package is, it will probably be "imputed income" that you'll have to pay taxes on. Make sure the company pays extra to cover the tax to keep you whole.