The recession economy has hit a lot of jobseekers very hard. Over the past few years millions of Americans have been stuck underemployed or unemployed completely. The unemployment rate hung around double-digits for the entire nation, and is just now beginning to creep back into a more palatable range. Many job hunters have had to consider positions they never would have accepted before, while also swallowing reduced salaries and benefits. If you have a job you probably considered yourself one of the lucky ones, even if you don’t particularly like what you do. But what if your boss approaches you about relocating for work, or what if you find a fantastic job but you’d have to move to get it? This is a tricky situation, and it’s hard to tell without looking at some of the specifics. So when is relocating for a job worth it?
First of all, it may be worth it if it comes along with a raise and a promotion. There are situations where you might have hit your ceiling in a certain office, and in order to move up any higher the people above you would have to leave. If you don’t see this happening any time soon, another option might be transferring to a different branch of the company that has an opening above your current position. Long-term career trajectory is important, and you’ll have to weigh your attachment for your current town with what that promotion and raise could do for you.
There are other financial concerns as well. Moving is incredibly expensive, and it often requires taking time off of work. That means blowing through vacation or sick days, and then ending up in a new town without any free time to explore. The company can make it worth your while if they support you financially through the move. Many corporations recognize that they have talent and want to hang on to it. Therefore they will pay your way into the new position. They’ll often hire a realtor to help you find somewhere to live, pay their fee and sometimes even put down a new security deposit. They could cover the moving company, any storage facility fees and in the best case even give you a week or two to get your bearings in the new area. This is almost always the case if the move takes you a long distance from home or even out of the country.
Relocating for your job might also be worth it depending on the location. If it’s a situation where you’d have to move from a cushy apartment in Manhattan to a suburb in Iowa there’s probably no amount of money that would make it work. But what if the job is in a city you’ve always wanted to see? What if it gives you the opportunity to explore a totally different culture, or to have a fresh start after some disappointing stuff in your personal life? There’s also the question of taxes. Every state taxes people differently, and you could take advantage. For example, Florida has no state sales tax. That means your salary transferred from another state will actually buy you more there. A city salary in a rural environment will stretch much farther. This is a perk that could help you buy a house for the first time, pay off the last of your student loan debt or finally start saving money for retirement.
If you’re on the job market and having trouble finding something, relocating may be the key to solving the problem. Most industries are hiring again, but not in a uniform manner across the country. There are hubs of entertainment, finance, technology, pharmaceuticals and many other businesses. If you aren’t in a region where those companies set up shop, you will have far fewer opportunities. Moving costs and pods reviews may be the least of your problems. Widen your search parameters; open your mind to relocation and suddenly the frustration of job hunting may abate.