What is a good relocation package for Vancouver?
 

Hi,

I have been asked by my employer whether I would like to relocate to Vancouver. This would mean moving my wife and baby with me and we would loose my wife's pay. They have offered to pay for moving, a furniture bonus and flights.

Is this a good relocation package and should I accept my wage x exchange currency (abt$66K) or should I ask for relocation allowance ontop?

I will be grateful for any help!

Re: What is a good relocation package for Vancouver?
 

I guess it depends whether you want to go or not. If I was given the choice, I'd rip their arms off relocation package or not! :)

Re: What is a good relocation package for Vancouver?
 

Given that the exchange rate is low compared to a few years back, I'd try for more than simply your UK salary x 1.55. $66k in Van is not a lot of money IMHO. If you were being relocated 5 years ago by the same formula you'd be getting $94k!! At the end of the day it'll be a question of what your company pays locals in Van for the same or similar job. But there is no harm in asking for more as opposed to accepting a crappy deal just to take advantage of the opportunity.

Re: What is a good relocation package for Vancouver?
 

Thanks guys. I am keen to experience VC, but I don't want to end up in a difficult financial position. I had read that there are additional living costs and when I saw the rental price I almost fell off my chair! I suffer from Asthma so will need regular prescription. Is it normal in VC to have the company provide additional medical care? or are there other schemes?

Thanks again.

Re: What is a good relocation package for Vancouver?
 

A package is being looked at for me at the moment, when they determine what others have had in the past to be fair I will get the relocation and job offer.

I think the minimum has to be flights, shipping, BUT just as important is accomodation and car for a month or two just until you can get somewhere of your own..anything else is a bonus..especially with a small family.


JET:)

Re: What is a good relocation package for Vancouver?
 

I agree with this. I recall a recent survey that said $66k family income was the threshold of a "get by" life in Vancouver. Food on the table, rent and bills paid on time, but nothing else. $94k is comfy land.

If Mrs JYC is going to work it will make a big difference.

Yes, it is common for employers to provide extended health benefits. Coverage of 80% of drug costs is normal. The OP should insist on this.

Re: What is a good relocation package for Vancouver?
 

Definitely.

I also think they are pulling a fast one converting your salary when the FX rate is undervalued in cost of living terms; $66k is definitely going to seem like a lot less than £42k. Try and get converted at 1.75 which should give you a similar lifestyle and won't feel like a big pay cut.

Re: What is a good relocation package for Vancouver?
 

I was going to edit my original post (but left it too late) to add:

If the exchange rate 5 years ago gave you $94k as a direct equivalent to your GBP 42k and the exchange rate now gives you $66k, don't imagine the cost of living has fallen in the past 5 years to make living on $66k a comfortable experience.;)

Re: What is a good relocation package for Vancouver?
 

I would have a look at house and rental prices before agreeing to move. Vancouver is almost, if not as just as expensive as London, and there have been numerous people on here who have found it too damn expensive and have been forced to leave.

Re: What is a good relocation package for Vancouver?
 

FX rate conversion is one approach to figure out the salary,, not the best one though. however in any case you should also try to get an idea what other companies pay in vancouver for a similar position (go to websites such as glass door that provide quite a good overview). on top of this you'd better negogiate an expat surcharge because you might face further cost that go far beyond one time flights (how about flights home (or compensation) every 3 months, compensation for losses you might face when selling car, house, etc.). in addition consider that you will be bound to your employer. if you're getting fired you have no valid work permit and have to leave canada. who will pay for the relocation back to the uk then?
in addition, $66K in toronto is not much. considering that vancouver tends to be more expensive, you might require two incomes. getting a job for your partner without the right contacts might take a while. so be prepared that you might live from one income over the first 6-12 months...

good luck!
andy

Re: What is a good relocation package for Vancouver?
 

Seems that my fears are correct. I have tried finding out what other companies over in VC, but no luck so far. I will try Glass house.

Again thanks for the replies!

Re: What is a good relocation package for Vancouver?
 

You haven't said what you do. If you let people know someone might do a similar job and be able to give youi a heads up on salary levels.

Re: What is a good relocation package for Vancouver?
 

Quite.

It may be quite good for whatever it is you do, or it may be way less than the local market rate.

You can try this site for wage info...but its hit and miss at best
http://www.labourmarketinformation.c...pid=43&lcode=E

I wouldnt up sticks to vancouver for $65k, its not enough to live on comfortably for most people. Income from your wife (if any) is likely to be countered by childcare costs as you wont have anyone here to childmind for free, and they are shortchanging you with the exchange rate conversion as its at a historical low.

Employer health benefits will cover some medical expenses, but are unlikely to cover all of them.

If they want you to relocate, then they should make it worth your while and your standard of living should not suffer as a consequence.

Re: What is a good relocation package for Vancouver?
 

This is what my husband was offered when we re located from the u.k

All moving costs,permits, flights, relocation specialist (3 days)to help with schools, housing, rental agreements, S.I.N, health cards etc when we arrived , 1 month free accommodation, $1500 towards electrical appliances, full health and dental insurance policy immediately. Extra 5 days holiday pay :)

I know others have received signing on bonus and extra holiday....

I know if we were to do it again we would be asking for a lot more$$$$$$ even though he is on above the average wage in his company..

I think to be honest $66k is going to be a struggle in Vancouver, We started on just over that and that was 4 years ago when the exchange rate was good.

Re: What is a good relocation package for Vancouver?
 

Hi
As an example in a skilled trade, ( electrician / mechanic ) you should be looking at at least $35/hr, three weeks paid holiday and about six days sick, plus healthcare cover.
Also an escape clause, of the costs of return to UK, just in case soemthing happens,i.e. employer folds up.
Cheers
jerry