Accepting an offer with no relocation stipend?

anemonemone's picture
Rank: Chimp | 6

I received an offer from a top-tier economic consulting firm in the fall. After getting rejected by so many employers, I jumped to accept, even after finding out that there is no relocation assistance. I thought that since I am a second year, it would be pretty difficult to find a better deal (this internship is everything I'm looking for: pretty decent pay, great company, great location), but my friend at a commercial bank is getting relocation assistance. Should I continue my internship search?

Comments (18)

Jan 11, 2017

You're willing to potentially throw away a seemingly perfect internship on the basis of them not providing you with an extra $1000 (which will be taxed heavily) as a sophomore in college, simply because your friend is getting relocation? This is absurd.

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Jan 11, 2017

I was looking through different forums and it looked like relocation assistance was standard in many industries. However, I am not sure what economic consulting compensation looks like for summer interns, so do not know if I need to know to keep looking for an employer that pays closer to the market rate.

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Jan 11, 2017

You didn't tell us what they are paying to determine if it is "market rate", you only suggested leaving the perfect opportunity in every way for you because you're being stiffed on - what? $1000 for 3 months of work? You don't need to do anything - only you can decide if $1000 (half that post-tax) is going to break you this summer.

Best Response
Jan 11, 2017

this is insane. If I would've moved somewhere (for a summer) as a sophomore it wouldve involved 2 suitcases on a southwest flight or in the back of my car driving. A few hundred dollars.

If you think that few hundred dollars is worth throwing away your shot at an internship that is "everything you're looking for" then I think you should back out. I'm sure you could save an extra $500 living with your mom and working at Starbucks

twitter: @CorpFin_Guy

    • 7
Jan 11, 2017

Its bananas how you made it through a "top-tier" consulting firms interview process and yet here you are debating the merits of not having received a paltry relocation bonus that is meaningless in the long run

Jan 11, 2017

I'm detail oriented.

But I agree with you.

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Jan 12, 2017

You could be totally joking, but there is a difference between detail oriented and overbearing.

"Detail Oriented" is a glorified term for college students to validate that they are talented and deserving of a job post graduation. Once you get into a role, in a company, outside of your university, detail oriented will get you 18 months down the road, tops. Then you need to adapt to be resourceful.

A pragmatic response to no relocation bonus is to figure out how much of your take home pay you can reserve for your relocation costs. Assume you work 60 hrs a week for the summer (and you are paid overtime), you could see around $15,000 in take home pay. Assume your relocation costs are a round trip flight (alt: car mileage and gas money) and maybe a checked bag, you can carve out $1,000 of your pay and still have well over $10k to cover three months of living expenses, and probably bank some near the end!

Detail oriented will be to examine your situation compared to others and ask why are these not the same, without putting your thinking cap on and finding a solution.

Jan 11, 2017

To summarize what I and everyone else here thinks: TAKE THE F*%^ING OFFER.

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Jan 11, 2017

Understood.

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Jan 12, 2017

This thread might be the stupidest one I've ever read on the first page.

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Mar 7, 2017

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Jan 12, 2017

Lol the same thing happened to me. Stop complaining. I worked at Lowe's the entire summer just to have enough money to move for my new position. Be fucking grateful.

Jan 12, 2017

This can't be serious. OP is either still in middle school or he's demented.

Jan 12, 2017
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