Here's How to Tell if Relocating for a Job Is Worth it

While remote work is becoming more and more prevalent thanks to technology and workplace changes wrought by COVID-19, it is not yet available to everyone or in all career fields. The U.S. Bureau of Labor Statistics reported last month that in August and September 2022, just 27.5% of private-sector employers had staff working remotely some or all of the time.

It stands to reason that you might someday receive a job offer requiring you to move locations. I'm a reluctant expert at this, having changed from a location-based career to a remote one just two years ago. It can be an overwhelming situation and it has a huge impact on your life and your personal finances, so here are some questions to ask yourself to decide if it's worth accepting that job offer.

Does the job fit into my larger career goals?

First of all, it's important to decide if accepting the job is good for your career. Maybe you've been working in a beginning role and are hoping for more responsibilities and a higher title (and perhaps more money) in a new position. If that's the case, it may not make sense to accept a job that is just a lateral move for you. That said, if this similar position will give you the opportunity to grow your skill set and take on more interesting work, it might be worth accepting.

Can I afford to live in the new city?

To put it another way, will the offered salary be enough to live well in your new location? Note that I said live well, because it's easy to think you'll be fine with a new job if it definitely pays enough to satisfy your budget. But ideally, you're growing your earning power over time, and if the salary offered for the new position isn't as much of a bump as you're hoping for, or worse, won't go far based on the cost of living in a new city, you might want to decline the offer.

You can check out cost of living data (and compare it to where you live now) at Best Places. Think about your own personal finance goals, such as buying a home or saving for retirement. Will the new salary be enough to save for that down payment or max out your IRA account?

Will I fit into my new town?

Depending on your field, jobs might be thin on the ground, meaning if you don't accept this role, it could be difficult to find another one in a place better suited to you. But it's still important to make an educated guess as to whether you'll be happy in the area. If you're used to city life and the new job is in an extremely rural part of the country, it's going to be a hard adjustment (and the same is true in reverse, too).

If you're capable of visiting the area a few times to get a feel for the place, do so. This may not be possible. I've moved to new places after spending minimal time there, and in one case, I didn't even visit for an in-person interview before showing up to move into an apartment a week before starting my job. In a situation like that, dig into local news coverage and social media groups to get some intel. Don't forget to check out the climate and typical weather in the new area, too. You may think you know what 120" of snow per year will mean if you've never experienced it before -- but prepare to be surprised that first winter.

Are there opportunities for my family?

If you're moving with others (such as a partner, kids, or both), you also have to consider their needs and wants in deciding whether to accept. How are the schools in the new area? Are there jobs for your spouse or partner? This may be a difficult prospect if your spouse is in a niche field; in my experience with moving for jobs, I was the one in the specialized career, and thankfully my former partners were more easily employable. Consider the culture and climate fit for your family as well. If your kids love sledding and skiing, the desert Southwest is likely to be a difficult adjustment for them.

Will I regret the move?

Unfortunately, despite carefully weighing your options and considering all of the above, you might end up unhappy with the change. It's an unpleasant experience to regret taking a job that you had to move cities for, and it might be harder to come back from.

I had this experience with my last position in my old career, and it turned out to be a blessing in disguise. Being miserable in the job and in the area I moved to was the motivation I needed to change careers and find work that is fully remote, freeing me from having to relocate for jobs. This has been quite a change after moving nearly 5,000 miles for school and jobs over the years.

Ultimately, it'll be better for you and all involved (including the employer you're considering working for) if you do some soul searching and cost/lifestyle research before accepting a job offer that requires relocating.

 

This article was written by Ashley Maready from The Motley Fool and was legally licensed through the Industry Dive Content Marketplace. Please direct all licensing questions to legal@industrydive.com.