Destination: Opportunity

Although a relocation offer may sound glamorous, it’s important to research and negotiate the details before making the move.

By Emilie Dunnigan, CMA

At a time when many organizations still seek experienced talent to fill a wide range of roles, accounting professionals may be presented with a career opportunity that requires relocating to another city or country. Many workers view relocating as a way to kick-start their careers or explore interesting opportunities. Accepting a position in a different geographic area is not an automatic ticket to better things; therefore, you must think seriously about what a significant move could mean in the long term for your career and personal life. After all, taking a job in a new location — whether it is in another province or halfway around the world — is not just a career choice, it’s a lifestyle choice. One-third (33 per cent) of Canadian chief financial officers (CFOs) polled by Robert Half International cited the quality of life in a new city as being the most influential factor in their decision to relocate.

Consider the professional impact

Your first consideration when weighing a relocation offer should be whether the move will benefit your career. Like with any new position, you must evaluate various factors, including your growth prospects in the new job, the financial health and stability of the employer, and the firm’s corporate culture. You’ll also want to make sure you have a clear sense of the duties and expectations of the role and that you will be provided with the resources you need to succeed in the job, should you accept it. Don’t overlook the long-term aspects of a potential move. While a larger salary or better benefits may prove appealing, you could limit yourself in the long run. If you move to a small town with few employers nearby and don’t like the position you accepted, for instance, you may soon find yourself without other job opportunities, facing a fresh set of moving concerns.

Do your research

Before committing to relocate, it is imperative to determine whether the place where you would make your new home can supply the quality of life you desire. It’s easy to idealize another town or city, especially when you are excited about receiving what might be a once-in-a-lifetime employment opportunity. It is critical that you not view the relocation process through rose-coloured glasses. Try to spend as much time as possible in the destination city before making a decision, even if you must pay for the travel yourself. Consider traffic conditions, weather and climate, shopping outlets, the general “feel” of local neighbourhoods, and cultural and entertainment opportunities. Also, if you have the time, explore as much of the surrounding area as possible and talk to local residents. The more information you have, the better your chances of making a successful transition to a new location. For instance, if you grew up in a mild climate and dislike cold weather, you probably do not want to relocate to a region notorious for wicked winters. Or, if you are used to living in the heart of a major metropolis, a move to a quiet suburban location may leave you pining for the hustle and bustle of the city. Make a list of pros and cons, and don’t leave out highly subjective matters such as whether you’re nervous about moving from a city where you have many friends to one where you have few.

Evaluate your compensation

In the Robert Half survey, 27 per cent of CFOs cited compensation as the prime factor in their decision to relocate. Even if you are offered a generous increase in salary, you must be certain that the rate of pay will be competitive with local market standards and will ensure that your quality of life will not be radically altered by the move. For example, according to Robert Half’s 2008 Salary Guide, a senior accountant at a large company (more than $250 million in sales) in Winnipeg can expect starting compensation of $52,286 to $69,238 per year. The same position in Calgary pays $58,473 to ,430.

In addition to the Salary Guide — which includes regional variance information that can help you determine appropriate pay ranges for major markets throughout Canada — take advantage of cost-of-living calculators and other online resources. Industry associations and trade magazines can be valuable resources for information about compensation trends, as well.

Prepare for the negotiation

Relocation packages are determined by a number of highly variable factors — your experience and position, the market for your skills, the urgency of the company’s need, the distance involved in the move, whether you have a spouse or children, and so on. The key to receiving the best package is preparation, which is why you should research relocation costs prior to negotiating with your current or prospective employer.

The following are some typical relocation costs to consider:

• Travel and lodging costs for house-hunting trips
• Moving costs
• Temporary housing assistance and arrangements
• Help with selling your current home
• Reimbursement, if you must sell your current home at a loss
• An allowance for getting settled
• Outplacement service for a spouse or domestic partner who must find a new job
• Mortgage or other financial assistance until your current home sells.

Some companies offer lump sum advances rather than reimbursing employees for every cost incurred. So, you’ll need to be sure you have all your bases covered as you may not be eligible to receive compensation after the fact for certain expenses. Successful negotiations always involve some give and take, and it is unlikely you will get everything you request. And while it is important to sort out financial details, do not put too much emphasis on the one-time costs of making the move. If the destination proves beneficial to you and your career, you can look back on some expenses you had to pay out-of-pocket as an initial investment that continues to pay dividends.

Get it in writing

Once you and your employer have agreed on all aspects of the relocation package, ask for the details in writing. A letter outlining the assistance offered and any limitations or exclusions can help prevent misunderstandings down the line. Having a written document in hand prior to departure will be particularly important to employees who are moving abroad as it may prove extremely difficult once they relocate thousands of miles away to sort out loose ends. Keep in mind that, even if an employer offers to provide an all-expenses-paid move, embarking on a journey that takes you to a faraway location for a position that does not advance your career will cost you both professionally and personally. However, with thorough preparation — and a well-negotiated relocation package based on careful research — you can make the decision to relocate with confidence. That means you’ll be able to fully enjoy the excitement of pursuing a new career and building your future in a different place.

Emilie Dunnigan, CMA, is a recruiting manager in Toronto with Robert Half Finance & Accounting. For more information about Robert Finance & Accounting, visit www.roberthalf.com or call 1-800-474-4253.   

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