Relocation Lump Sum

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  1. #1

    Join Date
    Jun 2008
    Posts
    14

    Relocation Lump Sum

    Hello All,

    Trying to see if the relocation lump sum being offered by my firm is reasonable (me + wife). One time (tax protected) payment of $20K USD. It is supposed to cover all moving/shipping expenses, temp housing as needed before I leave and when I get to HK prior to finalizing a lease, costs to setup and rent out my apartment in NYC (which I don't think should cost me more than $3000 USD) and any other misc expenses associated with moving out to HK. Welcome thoughts and comments from anyone who was offered a relocation package and if this is in the general ballpark.

    Thanks!


  2. #2

    Join Date
    May 2008
    Posts
    180

    I think it's a bit low but it will all depend on how much you have to move, what you do and how much they normally pay. We relocated from Australia, arguably a lot closer and the shipping alone cost more than that. And we didn't bring much stuff!

    Rents here are crazy, worse than NYC, so depending on how long it takes you to find a place, (and most places have at least a 4 week wait before you get to move in) it could cost you a small fortune.

    When we moved we got Au$7000 to take care of small costs incurred because of the move (we we're 2 plus 1) and then all bigger costs associated with moving were taken care off. Makes things a lot easier.


  3. #3
    bxu
    bxu is offline

    Join Date
    Apr 2007
    Posts
    60

    We moved from NYC to HK one year ago. We are two people + 1 cat. Not sure what industry you are in, but my husband's company (well known int'l bank) offered a lump sum of tax-protected $33k USD, on top of that they paid for our moving cost which included moving company on both sides and a 40' container by sea or less than 1000lbs of stuff by air, they also paid for the relocation of our cat. We did not get temporary housing but they had a relocation company work with us to find an apartment and paid for the agent's commission. Also paid for are two one way business class tickets for my husband and I to come to HK.

    That's pretty much the entire package, all of the above are subject to pay back IF my husband terminates his contract with the company within one year.

    So I think you should be able go negotiate for more.

    Good luck!