How much does a relo package cost?
PART 1. Can you estimate how much a low-level relocation package with Cartus costs my company?
I am moving from Denver to DC. The relo package does not have :
1. house hunting trip
2. temporary housing benefit
3. storage for my belongings
Does Cartus charge my company a flat fee based on the level of relo package offered, or actual expenses plus a management fee? Since DC is very expensive, I can't imagine purchasing a property nor having the space for my accumulations in Denver.
PART 2 : I don't think that I will benefit from the Relo package at all. Would a company be highly-motivated to provide a stipend in exchange for the relo package?
Thanks so much!
Answers (4)
Sheilah E
Owner, ★SME Management:.......... Business Management and Accounting Consultant
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From the looks of their site they have corporate packages. My guess is the price paid is not based on your move, but on an average of several moves for employees. Many companies will pay you XX dollars and leave the move up to you, but be careful because it may be a very low figure.
Sheilah
Patricia Christine Z
Marketing Director - Strategy&Planning T-Mobile USA / Board Member c89.5 Radio Worldwide
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stephen - just curious, have you done a relo before? there's alot involved. do you already have a place to live in DC? if so, then i could understand not needing the relo benefit at all. but if you don't already have a place to live, how would you not benefit from the relo package? even if you're renting, you would still need time to find a place. T
Karl G
CTO/Owner Intelligent Fusion, Enterprise Architect, Business Strategist, PhD
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I don't know Cartus, but I've relocated multiple time through companies. They pretty much always itemize things such as packing versus shipping versus temp housing versus meals versus travel.
Many companies have a cap and you might be able to negociate just getting that money, but that's a tough call for most companies since that comes from a different pot of money. I think you'd have better luck volunteering to move yourself and asking for a $5000 bonus.
Assuming you're in a fairly modest place now and excluding the things you listed, I'd bet the package is on the order of $4000-$10000 - probably around the middle. The bonus idea lets you get most of the money, but also provides incentive for the company since they'll save as well.
As a side note, relocation can cover A LOT of stuff, but if you did it yourself, you probably wouldn't pay anyone to do it and could save a substantial amount of money. For instance, sell most of your non-high end furniture and rent a U-Haul will let you pocket 80% of those expenses.
Rita G
Vice President Human Resources at 3H Technology, a QinetiQ North America Company
Best Answers in: Compensation and Benefits (4), Personnel Policies (2), Employment and Labor Law (1)
Most relo vendors get paid a flat fee per relo of a few hundred dollars. The benefit to the company is that comprehensive relo vendors handle all of the administration, including calculating tax liabilities.
It's hard to say whether or not you should forfeit the relo benefit in lieu of a bonus since you've only listed what the package doesn't cover. Whether or not a company is "highly motivated" to offer a bonus instead of relo depends on the company. Some prefer to keep all relo dollars in the relo bucket. Others will gladly offer a stipend.
