What Justifies Relocating for a New Job?

Hi Fellow Monkeys,

I've had a quite a few intro calls with PE headhunters over the past few weeks. Towards the end of each call, they ask the million dollar question: "Are you willing to move?" 

I've lived in the same city my entire life, other than for a few years out of state for college. I own a condo, my GF lives here, my family is here etc. What are some factors that one should consider when thinking about relocating for a new job? Or maybe another way to put it, what type of job would make you consider moving, when you would otherwise never consider it?

Is compensation "king" when making this decision? 

What if it's a terrible place (the city), but comp is amazing?

What if it's an amazing place, but comp sucks?

I'm just looking for stories from folks who have gone through or considered relocating to chase a new job. What sort of things were important to you before making the decision?

Thank you!

Comments (6)

Most Helpful
Jan 14, 2022 - 6:36pm

There are quite few things to consider.

  • life/travel experience. This is especially true if you are moving overseas, you get to see a lot of new things, work in a different culture, meet different people.
  • career trajectory when you do return home. Working in finance in places like NY or London can be a boost when you do return to your home city.
  • comp. As someone above noted, have to take real cost of living into account. There are places like Dubai or Singapore where taxes are a lot lower (though prob doesn't help US citizens). Some markets just value finance skills more than others.
  • admin hassle. Moving esp if you have a family will take a lot of effort even with relocation assistance
  • support network. Who do you know in the new city? Who could you get to know? If you have young kids, pets etc the having family around can be a real help.
  • ability to undo. This is something most people overlook but if things don't work out as you had hoped with a new company than how hard is it to stay in the city / find another role. Eg is your visa linked to that company?

If you are considering another US city then a bunch of things above won't apply.

  • Analyst 2 in HF - Macro
Jan 16, 2022 - 3:44pm

This. I grew up on the west cost, went to school in the mid-west, then went overseas to Asia for my first job and am looking at a second job also in Asia although I'm open to anything interesting and unique that doesn't sacrifice career development. During this process I am purposefully trying to stay away from NY, but if I were offered the perfect job in NY, I would probably take it.

To me, it's always been about maximizing unique and interesting experiences while I'm young while maintaining optimal career development (comp + experience). I'm a fairly adventurous person and I couldn't pass up the opportunity to spend several years in a totally foreign country and learning a new language/culture while also developing my career. Market facing roles are probably more flexible on this when compared to IB/PE given that you can trade from anywhere and most everything work-related is in English.

When I'm older and ready to settle down I won't have the ability to travel as much, so I'd like to see the world while I have relatively more freedom. I figure I'd like to move back to the US at some point, but things might change as well. I've had too many good experiences saying "yes" to new/strange opportunities to say that I'm dead set on coming back.

I look at many of the kids that I grew up with who were never able to get out of their bubble and honestly feel a bit sad that they never really go to experience the world. 

Jan 18, 2022 - 1:22pm

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