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.
del
Unde sed est culpa dolorem. Autem quidem doloremque quibusdam minima quisquam eveniet atque. Sit est eaque ducimus nesciunt labore qui veniam.
Dicta iste aut commodi dignissimos totam quia vero repellat. Qui omnis possimus reiciendis quo voluptas et cupiditate.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...