I read some of the postings here about the relocation fee/pkg, looks like many people are getting paid a lum sum. Is that the standard practice for most of the international companies located in HK?
So, how did the company or the employee come up with the lum sum number?
For example, if I am moving from West Coast US to HK, single, no plan to ship the furnitures, what should I consider, besides the following items that I can think of on the top of my head:
1. car disposition
2. disposition of other items that I am not shipping to HK such as furnitures, electronics, etc (this will definitely results in a loss of value)
3. shipping expenses for items that go to HK: books, clothing, personal items, etc.
4. plan/contract early cancellation/termination fees: cable, DSL, cell, apt, insurances, etc
5. flight ticket
6. temporary/short term housing in HK, assuming 1-2 months before settle down (depending on the company arrangement)
Have I misssed anything?
What else should be included in the list?
How do people come up with the lum sum "magic number"?
Say, maybe US$30,000?
I would think that the lum sum arrangement is much better than the actual reimbursement arrangement, right? You have the flexibility to make your own moving plan, as long as the lum sum covers everything, maybe you can even save some $$?
For those who had made the move, how did you negotiate the relocation pkg? I would appreciate that you can share some of your experience. Any tips?
Thanks a lot and have a good weekend!