With unemployment at historic 50-year lows and more employers open to remote work, job seekers are relocating less often. Just about 10% of people looking for work chose to relocate in 2018, down from 11% the previous year.
That's according to a recent MarketWatch report that also cites the tight real estate market as a reason workers are tending to stay put to assume a new role.
Still people are relocating for new jobs. Two good reasons are for new experiences and for better career prospects that a different community brings. A recent Glassdoor blog reports 71% of those who have relocated say moving allows for enjoying new experiences at work or outside the office. Tech talent hubs, brimming with opportunity and boasting of a desirable quality of life, attracting IT consultants include Minneapolis/St. Paul, Milwaukee, Cleveland and Charlotte.
While relocation can create exciting opportunities – financially, professionally and personally there are many factors to consider when deciding whether an opportunity for relocation is right for you.
What to Consider:
1. Effect on Family: Uprooting a family or spouse can alter one’s life for better or worse. Each family is different, and therefore, has different needs. In order for a relocation to be successful, it is imperative that the needs of all family members are met:
- Are there ample job opportunities for my spouse/partner?
- I have children:
- Will they be able to adjust to moving?
- How do the school systems rate?
- My child has special needs – will he or she have access to the services he or she needs?
2. Cost of Living: Even if the role which you are considering provides a handsome salary increase, you cannot fully determine the financial benefits until you determine the cost of living:
- Cost of renting or buying a home
- Property taxes
- Sales tax, and state income taxes
- Cost of childcare
- Cost of transportation/parking
3. Relocation Benefits: Many companies provide some form of relocation benefits, it is important to ask questions so you can anticipate the level of assistance you will receive:
- Moving costs
- Temporary housing costs
- Assistance selling your current home
- Assistance in buying a new home or finding a place to rent
4. Lifestyle Changes: Moving to a new city requires the ability to be adaptable. You may need to adjust to a new climate, vernacular, pace of life, style of cuisine, and potentially be prepared to go without some of the comforts of home:
- Access to hobbies / entertainment
5. Work-Life Balance: A well-paid salary is enticing, but work-life balance should be a priority, too. Moving to a new place without any social connections can make relocation difficult. Building a new social network takes time, but there are groups that are able to help:
- Alumni network
- Friends of friends
- Meetup groups / groups centered on hobbies or interests
Once you have decided to relocate, don't look back in the rear view mirror. Be confident in your decision and get ready for the ride. After all life is a journey.