So relocation and signing bonus are the same thing? Noob help.

Just got my first offer out of school, and I'm happy with the base salary. I was also offered a 2k "sign on" bonus.

I will be relocating (in the same state, but about 500 miles away), but there is no mention of relocation assistance any where in the offer letter. Am I to assume the "sign on" bonus is meant to help with relocation? I don't want to make an ass out of myself and start asking for relocation money if it is already implicit in the sign on bonus. Not sure what the standard practice is here.

Thanks

 

Yes, relocation and sign on bonus are typically the same. $2,000 should be plenty to find a place.

"For all the tribulations in our lives, for all the troubles that remain in the world, the decline of violence is an accomplishment we can savor, and an impetus to cherish the forces of civilization and enlightenment that made it possible."
 

Thanks guys. You just saved this noob from looking like a complete moron, as I was planning to call hr later today and start asking for additional funds.

 
awnaw:
Thanks guys. You just saved this noob from looking like a complete moron, as I was planning to call hr later today and start asking for additional funds.

Never hurts to ask HR, things can be different from place to place. Just don't expect anything additional.

"For all the tribulations in our lives, for all the troubles that remain in the world, the decline of violence is an accomplishment we can savor, and an impetus to cherish the forces of civilization and enlightenment that made it possible."
 

A little more info -not an IB position (more financial valuation) -not in NY, but is in an area with a high cost of living. -No real experiene, so probably no leverage in negotiating. Base is already pretty good.

I guess I'll just politely inquire about relocation and see what happens. Might make me look dumb but I doubt they pull the offer because of a stupid question.

 

Well first off, it winds up being somewhere between $6-7000 after taxes. Then you've got your rent deposits, broker's fees, moving expenses, and all the other stuff everyone above has mentioned, which means you're pretty close to zero by the time your first paycheck comes (and hopefully you're at one of the banks that pays your bonus prior to your first actual paycheck...)

 

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