Relocation Assistance

Hi there,

You need to read the contract!

The stipulations change by company. For example, when I moved with Appian to Australia, they paid for just my housing (i.e. I had to pay, then provide a receipt).

However, with BCG, the relocation bonus was built into the signing bonus and was just a lump sump.

More often than not, relocation bonuses are lump sums are you can spend it (or not) on whatever you choose. However, again, please be sure to check all these details in the contract. If you're unsure, just ask HR!

Hi there,

Normally the relocation bonus is a lump sum that you can spend as you want. However, some companies may have specific norms that apply to that. In any case, it will be clearly specified in your contract and if needed you can always clarify it with HR, thus I would not worry about it.

Best,

Francesco

My McKinsey offer did not require any stipulations on what the money can be spent on, no receipts, and no problem keeping the surplus.

For example, I already live in the city of my office. But I still received the relocation amount based on the distance of my school/university, and not my current location.

This depends on company, office location and local tax regulation. In my case I got a tax-free lump sum and could spend or not spend it on anything I wanted. But again: highly dependent on detailed circumstances, so you should check with the HR person that informed you about the relocation assistance.

Usually this is a lump sum paid upfront to assist you with any costs you incur during the process e.g. transport, temporary accommodation etc.

You can always negotiate this and it should be well laid out in your offer letter