[Anonymous]

What does typical relocation assistance include. Specifically, I will be moving from Nashville to Chicago and will be looking for a job in a Senior Accountant/Supervisor role. Will have the CPA and about 5 years experience.

Does it include just a sign on bonus….and about how much should i expect/strive for….love to hear some peoples experiences.

[Mayo]

I relocated halfway across the country when I moved Big 4 offices. I was given $2,000 for moving expenses (net of tax it was like $1,400 or something), which was paid subsequent to me arriving to the office (so I still had to foot the initial bill for the moving expenses). And I signed an agreement that I needed to stay at least a year in that office or I'd have to pay it back.

Mayo, BBA, Macc

[ruggercpa2b]

My very first job when I relocated from Ohio to Nashville the company I worked for paid for all my moving expenses. Their relocation package was either get movers to pack up your place and bring it to you or you could rent a uhaul and they would pay for the U-haul. On top of that they would give you $3000 which was taxed. I think it just depends on the company and what kind of relocation package they have.

AUD - 73, 72 retake 7/2/2016
BEC - 8/20/2016
REG - TBD
FAR - TBD

I am so ready for this nightmare to be over. Been at this way too long.

[Anonymous]

I agree with @ruggercpa2b that relocation offers are all over the map. Some companies won't pay relo below the executive level because they get enough qualified local candidates. Others reimburse actual relocation expenses, although some require you to use their preferred movers. Some do a sign-on bonus in lieu of relo, so that's negotiable. If you believe online stories, some companies hand out $20k to staff who relocate.

As with educational reimbursement, expect a 1 or 2 year committment as a condition for the cash.

[jm962011]

If what the company offers doesn't cover the full cost, you should look into the moving expense deduction for your tax return.

[Anonymous]

Out of college I was offered an accountant position with a government contractor and received a ~$19k relo/sign on bonus in lieu of the standard relocation package, which would have included $5k for incidentals. It worked out great since I rented a uHaul and used the money to get established in my new place and pay off student loans. It was fully taxable and not grossed up by the company which was no big deal. If you owned a home the standard package was great since it covered the move, your closing costs associated with your home sale and purchase, as well as duplicate homeowners costs, and temporary living expenses. It was all capped at various limits and subject to an established timeline. If you left your job within a year you had to pay it back.

[Author]

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