The Pros and Cons of Relocating for an Employment Opportunity
Embarking on a work related relocation is one of the biggest life decisions that you can make. Taking on a new employment opportunity in another city can be a very rewarding move, but it can come with some real challenges.
Professionals of all experience relocate for work every day. We’ve worked with everyone from seasoned professionals with decades of experience to recent grads beginning their careers. Everyone wants to find the right fit. People want to work for a great company and earn more money while growing their career. The best employee relocations will help you grow both professionally and personally.
Regardless of your current life situation, deciding to relocate for a new job is a major decision. There are many pros and cons to contemplate in order to decide if relocation is the right fit for you.
Making More Money
Let’s face it, making more money is usually a key trigger point in a relocation. Sometimes it can be hard to find that promotion or better job locally, moving to a new city can sometimes fast forward one’s career timeframe. It’s important to research the cost of living in your new city. An inflated cost of living can quickly eat up any amount of money you’ve gained with a better paying job.
Cost of Living Savings
Many times we see people saving money by relocating to a city with a lesser cost of living. Moving from a bigger city to a smaller city can sometimes save you some major money, especially when it comes to real estate prices and rent. This coupled with an increase in salary can really have a huge impact on your bank account. Many of our clients save money by being able to negotiate perks such as a car allowance, relocation money and other benefits.
A New Start
Sometimes people simply just want a new start in life and relocating is the perfect way to make it happen. We’ve seen a lot of people discover a new sense of passion inspired by their new location and job. This combined with a higher income can really jump-start some exciting times.
A Relocation Can Be Hard
Let’s face it; moving to a new city can be hard. It’s a scary thought to leave behind your family, friends and familiar settings. Some people relish an opportunity for a new start, while others are terrified of uprooting their life. It’s important to measure the pros and cons and determine if you’ll be able to handle the stress of relocating.
Moving Can Be Expensive
Moving will cost money and the further you move, the more expensive it will be. The expenses related to a move can really put a strain on your bank account. It’s important to note that some moving expenses can be claimed on your tax return. Ideally, you can find a job opportunity that covers at least some of your moving expenses.
Remember, it’s not just the cost of movers and trucks. Moving to a new city will likely cause you to spend more on travel to commute back and forth to visit family and friends.
Think Beyond Your Current Job Offer
It’s hard to find a place that you’ll work at for multiple years. It’s important to ask yourself if your new city offers job opportunities that are not only limited to your current position. We’ve seen some clients relocate to another city for an exciting job opportunity only to be eventually disappointed to learn that new opportunities are rare in their new city. Think ahead, plan for the next five-to-ten years.
Finding the perfect job can be hard in today’s world. Statistics Canada estimates that there is an average of 3.3 unemployed people for every job vacancy. With numbers like that it’s easy to see why relocation can be a good career move. Think hard about the pros and cons for each career relocation option. Don’t be afraid to negotiate and ask questions.
At Welcomehome Relocations we’ve been a leader in helping people relocate for work. We provide personalized service and help people through every step of the employee relocation process. Our experienced team is here to help, please feel free to send us any questions about the pros and cons of moving for work.