Friday, Nov 15, 2024

A millennial shares how she negotiated a higher salary and $10,000 in extra relocation benefits when she landed a new job: 'If you don't speak up for what you want, you will get the bare minimum.'


Mykail James, 27.
Mykail James, 27.
  • Mykail James negotiated an extra $3,000 in salary when she took a new job.
  • She shared the benefits she received and gave advice to others going through this process.
  • More companies are offering relocation benefits as a part of return-to-office mandates.

Mykail James was tired of waiting for a promotion.

She was working as a lead scheduler for a large defense company in Washington, DC. In July 2021, the 27-year-old told Insider, she decided to give herself a deadline: If she didn't get promoted by the end of the year, she would apply for a new job.

When the deadline passed, she applied for an opening, and her now-current employer eventually offered her the role.

In addition to a higher title and better pay, the new position offered two things she was looking for: a hybrid schedule — she'd been working fully in person — and a change of location. The new position is in Phoenix.

"I was seeking a new start and wanted to move from my current location," she said. "I was solely focused on applying to jobs out of state and were hybrid."

But she wasn't ready to accept the job just yet. She knew moving could be expensive, so it was time to negotiate.

She said her company initially offered her a salary about $10,000 above what she had been making, in addition to $10,000 in relocation benefits. But after two days of negotiation over the phone, she landed a $13,000 pay bump, which brought her salary to $90,000 a year, and $20,000 in benefits, according to documents viewed by Insider. She accepted the job in February 2022.

"I would not have taken the job without the benefits to relocate," she said.

James is among the many Americans taking advantage of relocation benefits when they accept new jobs. The number of US job postings that mention relocation benefits on the hiring platform Indeed were up by nearly 75% as of February compared with the prior year, The Wall Street Journal reported. On ZipRecruiter, the number of job listings that mention these benefits have risen to 3.8 million after falling below 2 million in 2020, according to the Journal.

Over the past year, many companies have required employees to return to the office at least a few days a week. The uptick in relocation benefits could suggest that some companies are willing to pay to move desired candidates closer to their offices.

'If you don't speak up for what you want, you will get the bare minimum'

James said she was able to take $5,000 of the benefits, which were classified as "miscellaneous" and could be spent on whatever she wanted, up front. The rest of the up-to $15,000 of qualifying expenses would be reimbursed later.

She said she used most of the $5,000 to pay off her car and throw a going-away party. The $15,000 could be put toward a house-hunting trip — including airfare, lodging, a car rental, and meals — a real-estate agent, any lease-breaking fees, final travel to Phoenix, temporary housing for two months, and packing and shipping her belongings, among other expenses.

James said she would have lost out on any of the $15,000 she didn't spend, so she tried to use as much of the money as she could. She also took out a new credit card that would maximize her rewards points when she spent this money, knowing she'd be able to pay off the card's balance when she was reimbursed. As long as she stayed at her company for at least a year, she said, she wouldn't have to pay the company back any of the money.

James recommended that everyone ask for relocation benefits if they're moving to a new state for a job.

When she changed roles in 2018 within the same company, she received $5,000 in benefits to assist with her move from Hampton, Virginia, to Washington. She said it helped prepare her for to negotiate this time around.

She recommended mentioning relocation benefits when you receive a verbal job offer — but saving the real negotiating for when you receive the written offer. She said negotiating over email would give you time to craft your message and be more direct with the request.

"Squeaky mouse gets the cheese," she said. "If you don't speak up for what you want, you will get the bare minimum. Never be scared to ask for the tools needed to help you be successful in the role. In fact, ask for more than what you want to give room to negotiate down."

Read the original article on Business Insider
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By: [email protected] (Jacob Zinkula)
Title: A millennial shares how she negotiated a higher salary and $10,000 in extra relocation benefits when she landed a new job: 'If you don't speak up for what you want, you will get the bare minimum.'
Sourced From: www.businessinsider.com/how-to-negotiate-pay-raise-relocation-benefits-cross-country-move-2023-05
Published Date: Mon, 15 May 2023 14:51:34 +0000