5 things to consider before relocating for work

Many employers pay all or a part of the costs, but employees often have to shoulder significant expenses in order to move for a job. Here are five issues to consider before you agree to relocate.

As unemployment continues to be a major issue across the country, employees are more willing than ever to pull up the tent stakes and move across the state or even across the country for new jobs. Employers often move existing employees to new locations in order to maintain an experienced and trained workforce. Many employers pay all or a part of the costs, but employees often have to shoulder significant expenses in order to move for a job. Here are five issues to consider before you agree to relocate.

Industry Isolation

Thinking about losing your new job is likely not high on your list of considerations, but it should be. Before deciding to make the move, research the other companies in the new city that hire employees with your skill set. If there are very few, you may find yourself stuck in an area where you won't be able to find a new job in your field without moving again.

Real Estate Market

It may not be as easy as it once was to quickly sell your old house in order to buy a new one. Banks are less likely to extend bridge loans to allow you to purchase before you sell, as the credit market continues to be tight. On top of that, if you are moving from an area with depressed real estate prices to a booming area, you may lose some of the existing equity in your home. Consider the rent you would have to pay while negotiating your salary

Employer Incentives

Find out exactly how much your employer is prepared to pay for the move, either in direct costs or a moving bonus. Before accepting, outline all of the costs of the move and ensure that the employer's contributions cover a significant portion of those costs. Even if your new job pays more, it won't benefit you until you recover the out-of-pocket costs of the move.

Community

You won't be working 24 hours a day, so the type of community you are moving to makes a difference. This is even more important if you are moving a spouse and children with you. Are there activities for kids, green space for walking and recreational facilities, such as movie theaters and concert halls? What are the local schools like? Check out the new city before moving to ensure that it fits with your lifestyle.

Upward Mobility

Your future with any company isn't a slam dunk, but if you move in order to start a new job, consider the future opportunities to move up. For example, if your current employer wants to move you out to manage the plant, reflect on how that fits in with your goals to be a corporate vice-president five years down the road. Ensure that your career path is aligned with the potential to grow at the new location.

The Bottom Line

Packing up your life and moving for a new job is a major event, both professionally and financially. Upfront planning and analysis can help keep you from jumping into a situation that can hurt your wallet or your future career track. Be sure that the move benefits you as much as it benefits the employer.

8 reasons why you aren't earning enough

1.    You didn't negotiate well when you were hired. There's a lot of variation in whether and how people negotiate salary when they get a job offer. Some accept on the spot, others push for a little more money, and others push for a lot more--and some of them get it. (Unfortunately, asking for more after you're in the position probably won't close the gap; it's never as easy to negotiate after you've accepted the job.)

2.    You haven't made sure your accomplishments on the job are visible. You could be doing the best work in the company, but if your manager doesn't know about it, your salary probably won't reflect it. Don't be shy about sharing accomplishments with your manager, whether it's glowing feedback from a customer, a tricky problem that you solved before it blew up, or a cost-saving measure you implemented.

3.   You haven't pushed for a bigger raise. Many people just wait for their employer to reward them with a higher salary and simply accept what they're given, even when the amount disappoints them. Sometimes getting more money is as simple as asking for it--but you do need to ask.

4.   You think doing your job adequately is enough. Doing a merely adequate job isn't enough to merit a significant salary increase. Big raises go to people who go well beyond the minimum expected. Speaking of which?

5.   You haven't taken on enough responsibility. Big raises don't just get handed out because another year has gone by while you do the same work. A raise is recognition that you're now contributing at a significantly higher level than when your salary was last set. A raise says "your work is now worth more to us." So you need to make sure that's true before you make your pitch.

6.    You're difficult to deal with. If you're defensive, a prima donna, negative, a regular complainer, or if you're otherwise difficult to work with, you might not be frustrating enough to fire, but no one is going to go out of their way to keep you, either, and that includes increasing your compensation.

7.    Your skills aren't worth as much in today's market as you think they are. If you don't know what your experience and skills are bringing in today's job market, you might drastically overestimate what your skill set can command. Do some research on industry norms for your particular work in your geographic area and see where your salary falls relative to those markers.

8.   You're not as valued as you think you are. Many people overestimate their own performance and their own value to their company--assuming the company would fall apart if they left, when in fact the company would continue on just fine. Pretend that you're your own manager and ask what about your performance would really impress you, or what about you your manager should be upset to lose if you left. If you can't come up with much, assume that your manager can't either. Ultimately, if you don't like your salary, talk to your boss about what you would need to accomplish to earn a raise. That conversation could lead to valuable feedback, which might help you discover a solid path to the salary you want. And if your boss won't budge, you can always go out and see what other offers the world has for you. You might find one you like better--or you might decide that you'd rather stay put.

When to Ask for a Raise

1. When you haven’t been on the job for long. If you’ve only been on the job a few months, you already did your salary negotiation—when you were hired. In most cases, you want to have a solid year of work behind you before asking for a raise.

This rule includes a few exceptions, such as if the job dramatically changes or if your responsibilities increase far beyond what was envisioned when you were hired, or if you’re asked to take on new tasks that cause real hardship, such as constant travel or a horrible commute. In these cases, it might be reasonable to revisit the question of your compensation. But for the most part, you should wait a year before you ask for a raise.

2. When you haven’t been performing well. When you approach your boss about a raise, your request should be based on the great work you’ve done. If you’ve been struggling and not wowing anyone, this isn’t the time to ask for more money. Otherwise, your boss may think you’re completely out of touch with the job expectations and your own performance.

3. When the company is struggling financially. When employers are going through a rough financial time, they’re looking for places to cut costs, not add them. A lot of companies will freeze salaries during difficult financial times, and a smart employee will be sensitive to those constraints.

So when is the right time to ask for a raise?

1. When you have a sustained track record of accomplishment that you can point to. A raise is recognition of a job well done, acknowledgement that you’re now contributing at a significantly higher level than when your salary was last set (whether that was when you were hired or when you got your last raise). A raise says “your work is now worth more to us.” So you need to make sure that’s true before you make your pitch.

2. It doesn’t hurt to have just done a great job on something. Hopefully you’re doing a great job all the time, but ideally you’d ask at a time when your fantastic performance is particularly fresh in your boss’s mind because you just wrote an amazing report or saved the company significant money or wowed a client.

Asking for a raise is nerve-wracking, but remember, good managers want to keep good employees. If your request is reasonable and backed up by your value to your employer, a good manager will try to work with you to keep you happy. And even if your company can’t say yes right now, a good boss will explain what would need to happen for her to be able to say yes next time.