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Relocation bonus negotiations - advice

bonus negotiation relocation
Neue Antwort am 30. Apr. 2024
7 Antworten
142 Views
Anonym A fragte am 23. Apr. 2024

Hi all,

I emailed HR seeing if they could offer financial help for relocation (Entry level T2 role on the other side of the world) and they said no, they only offer sign on bonus and salary.

I'm surprised by this as recent student it will be hard to fund the move. Should I reach out to a partner at the firm who said to get in touch at any point to ask if it would be at all possible? Or is the no from HR final?

Would be good to get some thoughts on how/if to go about this?

Thanks!

(editiert)

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Hagen
Experte
Content Creator
bearbeitete eine Antwort am 25. Apr. 2024
#1 Bain coach | >95% success rate | interviewer for 8+ years | mentor and coach for 7+ years

Hi there,

First of all, I am sorry to hear about your negative experience with the relocation bonus!

I would be happy to share my thoughts on your situation:

  • First of all, I would advise you to reconsider reaching out directly to the partner. The offer to get in touch at any point suggests a level of openness, but ensure your approach is polite and expresses your understanding of the company's policies. Clearly articulate why this support is critical for your relocation and how it impacts your decision to join the firm.
  • Moreover, it's essential to prepare for the possibility that the partner may support HR's decision. In this scenario, consider alternative financial options such as personal savings, loans, or even discussing a staggered payment of the sign-on bonus if feasible.
  • Lastly, remember that building a good relationship from the start with both HR and the partner is crucial. Even if the response is not favorable, showing professionalism and gratitude for their time and consideration can leave a positive impression that benefits your future at the company.

If you would like a more detailed discussion on your specific situation, please don't hesitate to contact me directly.

Best,

Hagen

 

You can find the consulting salaries report 2024 here!

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Dennis
Experte
Content Creator
antwortete am 23. Apr. 2024
Ex-Roland Berger|Project Manager and Recruiter|7+ years of consulting experience in USA and Europe

Hi there,

I have seen cases where HR said no initially and then that got changed once a partner talked to them. It really depends on the situation and how much support you might get from a partner.

HR is usually concerned about precedent - if they have never paid relocation bonus in the past, they might not want to open that door.

It's worth a try but you have to play it carefully - this will presumably be your workplace going forward so you don't want to alienate people. You can speak to the partner and let them know your situation (and that HR said no already) and get a read on how they feel about it. You should probably also have some additional talking points as well or it only comes across as a complaint.

As an alternative option, you could try to get your signing bonus increased a little bit - then it would not fall under a “relocation bonus” line item that might cause issues (just a thought).

Good luck

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Oliver
Experte
antwortete am 24. Apr. 2024
Former BCG interviewer (75+ interviews for associates, consultants and MBA hires) | I will make your practice perfect

Hi there,

For me, this would entirely depend on the relationship you have with the partner. If at any point in your conversations the relocation bonus came up as a topic (or similar topics) and he/she has offered their help with arranging it, I would definitely reach out. In your reach-out, do mention that you have taken up this topic with HR already.

Best,
Oliver

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Cristian
Experte
Content Creator
antwortete am 23. Apr. 2024
#1 rated MBB & McKinsey Coach

Hi there

Sorry to hear about this. 

The reality is that some offices just don't offer a relocation bonus or a signing bonus. 

You can try to have a discussion with them about it, but the chances of success are low. I guess this could show to them that it's something important that they should start offering candidates, but I doubt it will start working with you (sorry). 

I also wouldn't bypass HR to ask the Partner because it's guaranteed to ruin your relationship with HR and the Partner will most likely send you to speak with HR anyway. 

You can try to estimate the relocation costs and communicate them transparently to HR and see if there is any way in which they could contribute. Make it a discussion. 

Best,
Cristian

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Francesco
Experte
Content Creator
antwortete am 24. Apr. 2024
#1 Coach for Sessions (4.500+) | 1.500+ 5-Star Reviews | Proven Success (➡ interviewoffers.com) | Ex BCG | 10Y+ Coaching

Hi there,

Congratulations on the offer! In terms of your question:

Q: Should I reach out to a partner at the firm who said to get in touch at any point to ask if it would be at all possible? Or is the no from HR final?

I would not recommend reaching out to the partner - it might lead to HR to feel you bypassed them and create issues later on.

If HR said they don’t offer a relocation bonus, I'm afraid that’s not an option. I would insist on the point only if you have another offer and you are ready to walk away from the current one.

At the same time, you might be able to negotiate a different signing bonus to compensate for the costs you will incur.

Good luck!

Francesco

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Alberto
Experte
Content Creator
antwortete am 30. Apr. 2024
Ex-McKinsey Associate Partner | +15 years in consulting | +200 McKinsey 1st & 2nd round interviews

Do you have any discussion on relocation and bonuses upfront or you brought the topic to the table once you finish your interview?

If the situation is the second, I don't suggest you override HR talking to a partner. This is not the best start in a new company.

Best,

Alberto

Check out my latest case based on a real MBB interview: Sierra Springs

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Pedro
Experte
antwortete am 24. Apr. 2024
Bain | Roland Berger | EY-Parthenon | Mentoring Approach | 30% off first 10 sessions in May| Market Sizing | DARDEN MBA

Ask them for a quick call. You should take a (joint) problem solving approach on this.

The fact is that the sign up bonus should be enough to cover your needs. If it is not, bring your math and explain that this will require you for example, to take on a loan. Or that they pay a very specific large expense item (e.g. pay for the flight ticket). Or if you make that loan… that they are the ones doing the loan to you.

If it is, maybe is a matter of fiscal optimization. Maybe you can get a better deal for both parties by getting part of the sign up paid as a relocation.

Just please understand that for entry level roles they won't go too far. You should only insist in this conversation if this is something that is a real requirement.

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Hagen

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