I posted in here a while back regarding leaving my current employer for a new position but being slapped with 15k in repayments due.
Basically, if your new employer is paying for your relocation but would expect repayment in the event that you leave under a certain time-frame, be careful! Know exactly how much they are paying to move you (if possible).
In my situation, my employer paid me a signing bonus of 5k (which I saved in case I needed to repay it) and hooked me up with a third party travel company that they said would take care of everything to move me to my new state. They paid for hotels, flights, car transport, furniture transport (although I didn't have anything but clothes, but still this was expensive apparently), the works.
I never saw a receipt, a bill, nada. I had no idea how much they paid to move me.
Now, my employer is going under and my supervisor told me to start looking for new jobs. He even suggested me to a friend in the business who was looking for new talent. Three other senior members of my team either told me to look for new work or referred me to new roles. I was lucky to get a new position that is a pay bump and a great employer that I'm really excited to start work with, however, per my contract they want me to repay everything since I left under two years.
It turns out it cost over 10k to move me using the company that my employer chose. I could've rented a uhaul and moved myself for 1-2k. I just didn't realize it would be so expensive, and especially didn't think that I would be leaving this job in under 2 years!
I feel like my company screwed me because my division is going under and by choosing an expensive moving company, but more so I feel like I screwed myself because I never inquired into how much these 'perks' were costing or if I'd have to pay them back in the event the division became insolvent.
Relocation benefits are great and its nice that companies offer them, but just be careful because even when your company is a Fortune 50 company they can still have financial hardships that may hurt you in the long-run. If you can move yourself for less it might be worthwhile for you to do that!
Submitted March 12, 2018 at 08:43AM by thawowtso http://ift.tt/2HrJcMC
