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December 20/27, 1999

Happiness Is More Than Money
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While the adventurous may relish the challenge of going to a startup with its lure of the killer IPO, remember that adventure has its price: The relocation package for such a company may consist of as little as a house-hunting trip and a promise to reimburse moving expenses. Large, established companies are more likely to offer a relocation package that is sophisticated and comprehensive. Human-resources departments have staffers who specialize in this area, and can offer assistance with everything from finding day care to locating the nearest dry cleaners and the closest post office.

The amount of time a person needs to prepare also varies. A single person may be more willing to go with little notice and a minimum of advance planning, but a person with a family has much more to consider.

chart While Winborn and Passerello had time to plan their moves, that wasn't the case for Adam Broun, a senior manager for Deloitte Consulting. Broun, his wife, Anne, and their baby, Daniel, had been in London for 18 months and were anticipating a return to Boston--but not for another month. Then the call came. In 10 days, Adam was to report to work in New York.

Broun oversaw the IT merger of two major international financial institutions, managing 40 Deloitte consultants. The deal involved thousands of bank employees, as well as all the networks, connectivity, databases, E-mail, and infrastructure--all in an eight-week turnaround, in time for the first day of trading in early June. The task was more than an exciting professional challenge; it would greatly accelerate his career.

The switch represented a major upheaval on all counts: an international move with a spouse and baby to a new city with virtually no notice. But after weighing all the considerations, Broun and his family decided to go for it. Moving overseas is very difficult, says Broun, who has relocated overseas three times. "Setting yourself up financially is difficult," he says. "You can be an executive in one country, but when you move, you have to start all over in establishing credit, bank accounts, tax domicile considerations, and becoming familiar with how matters such as health care and real estate work."

Fortunately for IT professionals, online resources make doing the advance work and figuring out the cost of living easier than ever before. According to Michael Walden, a North Carolina State University economist who specializes in cost-of-living differences between states, one of the best is the American Chamber of Commerce site (www.accra.org); the Web site, which charges a fee, tracks cost of living in various locations and offers a relational rating system.

chart For example, the number 100 is used as the national average. Topeka, Kan., is rated at 75 and San Francisco is rated at 150. One could reasonably expect the cost of living in San Francisco to be double that of Topeka. But money isn't the only consideration. "Look at it this way: If you were making $50,000 in Topeka, you'd need to get $100,000 in San Francisco to meet the same standard," Walden says. "But if San Francisco offers only $75,000, you need to ask yourself, 'Is it worth $25,000 to me to be in San Francisco?' The same job at the same skill level won't offer twice the pay in San Francisco as it does in Topeka, but there may be other reasons to live there," Walden says. "San Francisco offers amenities Topeka doesn't--good climate, more cultural activities, major league sports. Some people would be willing to pay for those things, while others may decide it would be worth a cut in salary to leave the rat race and get back to the heartland."

Another online source is Virtual Relocation.com, an accurate moniker for a site rich in information and excellent links. A recent attempt to stump the system by entering names of obscure locales still came up with very useful information. The staff members behind the site are experts in realty and relocation issues, and they will answer E-mail inquiries about relocating.

VirtualRelocation.com marketing manager Tina Wyszynski, who herself has relocated more times than she'd care to count, says preparation is vital in getting ready for the big move: "Plan ahead. Moving is one of the major stresses. If you have the ability to plan ahead, do so," she says. "It's going to be an upheaval no matter how much planning you do, so be extra nice to yourself."

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