I’m taking a job transfer to London for a few years and currently in the middle of negotiating the relocation package.The following are included in the initial relocation package offer: initial flight to London, Tax advice for the entire assignment, One flight back to the US a year, 2 months of corporate housing, Relocation specialist to assist with finding permanent housing, and a 3 day London orientation (How to set up a bank account, tour of the city, etc.)
What are some additional items I should consider including in my counter offer? I’d love to hear about what you didn’t think to include in your relocation package until you started your assignment abroad.
Thank you in advance for your advice!
Are you still being paid in USD or are you on a local contract? If USD, ask for tax equalisation.
Is luggage or any goods shipped included? Any cultural awareness course? I did one and learned a lot as the office etiquette is quite different between US and UK, even just how you phrase emails. Most people will say don’t bother or it’s a waste of time, it actually helped me especially as I was managing a team of British people.
Are they covering things back home such as cancelling your lease, selling your car?
Also, if you decide to leave your company, what’s the payback on the package? Typically I have seen 2 years but really good to know.
Finally, I would recommend they sponsor you on a Skilled Worker Visa, not the intra company visa. In case you stay 5 years, you can get ILR (indefinite leave to remain) under the SWV, not the Intra company one.
Is there a housing allowance? Housing costs will be way higher in London than the mid-west US. Is there a lump sum relocation bonus to pay for all the incidental stuff like getting utilities set up, transferring drivers license, etc?
Keep in mind that relocation benefits are often fixed as they are set company wide and aren’t negotiable. But you might be able to ask for one-time bonus payment instead.
Few questions;
- Will your relocation package include shipping of personal items?
- What about expedited visa renewals if needed (otherwise you are unable to travel while your visa application is pending)?
- Will they cover tax equalization?
- I’d strong recommend requested a paid session with a financial advisor as well, particularly when it comes to investments as there are a number of hoops you need to jump through re: PFICs.
While you didn’t ask…
- what have they offered in terms of your base pay compared to your current salary?
- what is the pension (equivalent to 401k) contribution they will be making?
- will you be on a UK contract which entitles you to additional employee protections (e.g. notice period)?
- how many paid holidays will you receive?
Spouse/family job assistance unless you don’t have any.
Id ask for Longer housing options. When I moved I spent my first few months focused on work and ended up with no time to find a place so I just wasted money at a long stay hotel for a while.
Shipping of personal items both ways.
You should consider how 401k/pension is handled. Will they pay contributions? Health/Dental Insurance as well. Can they fund private insurance for you? What insurance will cover you if you go back to the US for travel?