I have an opportunity to move from the US to London (actually Surrey) in a transfer to our European office. We have never transferred an employee overseas, so my boss has asked me to write up a relocation proposal with estimates for various expenses to be incurred by the company. I won't ask all of the questions in a single post, so I would just like to focus on determining a fair salary.
In simple terms, my plan was to convert my annual salary (100k USD) using the current exchange rate and then adding a cost of living increase. For example, it might look something like this:
100k USD x .65 = 65k GBP
+30% COLA = 84.5 GBP
My dilema is how to factor in housing expenses. I have been asked to research these expenses so there is a possibility that the comapny will either cover these expenses or will provide an allowance.
It is typical for a relocation package to include housing expenses ON TOP of the adjusted salary? Or is it more common for a slight reduction in salary to account for the company paying for housing?
It is a hardship to move overseas, especially if you maintain a house in the States, but it does seem like a good situation (for the employee) if such a major living expense is not paid out of the equivalent salary. My intention is not to ask for a generous package and live like a king, I just want to protect my stadard of living to a large extent. I do not know what is considered typical for a relocation package.
I appreciate any advice or lessons learned from others. Thanks!
In simple terms, my plan was to convert my annual salary (100k USD) using the current exchange rate and then adding a cost of living increase. For example, it might look something like this:
100k USD x .65 = 65k GBP
+30% COLA = 84.5 GBP
My dilema is how to factor in housing expenses. I have been asked to research these expenses so there is a possibility that the comapny will either cover these expenses or will provide an allowance.
It is typical for a relocation package to include housing expenses ON TOP of the adjusted salary? Or is it more common for a slight reduction in salary to account for the company paying for housing?
It is a hardship to move overseas, especially if you maintain a house in the States, but it does seem like a good situation (for the employee) if such a major living expense is not paid out of the equivalent salary. My intention is not to ask for a generous package and live like a king, I just want to protect my stadard of living to a large extent. I do not know what is considered typical for a relocation package.
I appreciate any advice or lessons learned from others. Thanks!
