Author Topic: Corporate Relocation options  (Read 2572 times)

dcheesi

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Corporate Relocation options
« on: June 04, 2015, 11:10:21 AM »
So I just found out that the local site is closing in a year, and I have to decide between three different options: Relocate to Maryland/DC area (sure thing), apply to relocate to Indianapolis (good chance they'll allow it), or stay put and take the severance. As it happens, the immediate payout from all three options is about the same, and even if I "stay" I'll probably wind up moving eventually (not many jobs like this in the region).

Given the option, would you take a relocation offer in a higher CoL area, but with opportunity to walk everywhere on a day to day basis (MD)? Or an area with a lower CoL, but more spread out/less walkable (Indy)? Or just ride things out and take the severance?

I should mention that I really like working for this company, and for that reason I haven't done the job-search routine in many, many years. I'm not sure what's out there in terms other companies' pay-scales and work environments (I suspect I'd be working longer hours most places).

Any thoughts or experiences with this kind of situation, or with the regions in question?

mandy_2002

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Re: Corporate Relocation options
« Reply #1 on: June 04, 2015, 11:39:02 AM »
I think the best answer would be in a situation where you are close to FIRE:  Take the severance and retire. 
For everyone else:
MD - is there a cost of living adjustment in your wages?  If so, does it phase out?  My current position is in California, and my COLA phases out in 2 years, but there is a standing pay adder at 18%.

I personally enjoy Indianapolis.  I feel many neighborhoods there have high walkability, but you would need to live close to the work location to be truly mustachian. 

dcheesi

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Re: Corporate Relocation options
« Reply #2 on: June 04, 2015, 11:50:25 AM »
Thanks! Unfortunately, I'm still several years from FIRE. So while I could enjoy a nice sabbatical, eventually I would have to look for another job.

There will be pay adjustments to bring us in line with the current MD employees, but I don't have my exact number yet. In any case, none of us expects it to fully make up for the extra housing expenses up there vs. where I am now. Indy is supposedly a wash in terms of CoL, so comparing Indy neighborhoods to MD (Montgomery County area) might give you an idea of the difference.

Unfortunately the Indy office appears to be sort of on the outskirts, close to some residential but no businesses besides fast food and that sort of thing. The MD location is right next to apartments and very near some decent stores and restaurants, albeit of the soulless chain variety.
« Last Edit: June 04, 2015, 11:53:01 AM by dcheesi »

Mother Fussbudget

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Re: Corporate Relocation options
« Reply #3 on: June 04, 2015, 07:17:58 PM »
Check salaries on Glassdoor.com - it might be a real eye opener for you if you haven't job searched in a while. I'd say stay in an area with a high walkability score, but that's very much a personal decision.

Bottom line:  if a relocation is in your future, think long term about it. Where do YOU want to FIRE?  You'll probably be able to get a job just about anywhere, so why not do the job where you want to have a home-base for the rest of your life?

dcheesi

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Re: Corporate Relocation options
« Reply #4 on: June 05, 2015, 08:58:41 AM »
Well Maryland certainly wouldn't work as a retirement location due to cost. But in terms of quality of life I think it would be great --so long as I'm being paid enough to cover my expenses and savings goals.

The specific part of Indy that the office is in seems be the same type of town that I spent several years living & working in right after college, and quite frankly I don't want to go back to that. At best I would be travelling to other parts of the Indy metro for entertainment, as there's little in that area that would interest me. Or of course living elsewhere and commuting to work (ugh).

So I think Indy may be out; now it's just waiting to hear what my new salary would be in Maryland...

StockBeard

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Re: Corporate Relocation options
« Reply #5 on: June 05, 2015, 11:21:20 AM »
"Walkability" is the thing that has made the main difference by far on my saving rates since I embraced the way of the mustache.
If you're thinking of FIRE seriously, I would consider "Walkability" as part of your choice for your next location. Choose a place that's convenient for groceries, doctor, and work (and park/school if you have kids).

Today, I save money on the car (we don't need one) and the gym (I walk 1h per day at least, every day). The walk to work also makes me more energetic, etc... (by the way, I walk, but it could be a bike if you're more into that)