Relocation clawback?
Hi everyone,
Am in a position where I was paid to relocate abroad by my employer- the relocation package wasn’t huge (~25k USD equivalent) but there is language in the agreement that if I leave in under two years, I’d need to repay that, plus any expenses direct or indirect that were incurred as a result of my relocation (visa, vendors, relocation consultants etc) & gross it all up for taxes I have a great opportunity away, but am afraid that the total ascribable cost to my relo could be way higher than expected & I get hit with a 70k bill or something crazy
I’ve been here for a year & change, am well liked & would leave on good terms. Is it uncommon for banks to exercise these clawbacks in reality? Or should i be well prepared to come out of pocket for some unknown sum? Appreciate anyone’s experience
$25k USD is a fulsome relocation package.
To answer your question, yes there is a clawback - usually lasting the end of your contract period.
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