Is Higher Salary Worth Relocating?
Our work involves a lot of unplanned decisions that could potentially affect a major part of our lives. From accepting a new job offer to resigning from an old one, we are continuously tested to make choices. Relocating is one such choice.
A company might make you relocate for several reasons. For instance, all the people working for Emirates Airlines are required to move to Dubai for work. Similarly, if your company has many branches within or outside the country, they might make you go to another branch as a promotional scheme. Besides that, you might be offered a new job with a higher salary which requires you to move to another place. The question arises, Should you do it?
We have devised some basic things you should consider before deciding to relocate for an increased salary.
How to Consider If the Higher Salary Is Worth Relocating?
Relocating is a difficult task but suggesting it to be a hands-down ”No” is not wise. There can be a lot of good opportunities waiting out there for you. Therefore, it is important to analyze the offer thoroughly before you make a decision.
1. Cost Of New Living
One of the most important things to consider before relocating is the cost of your new living. How much is it going to cost you at your new place? If it is a bigger city, you might end up spending more money than you make.
Find out the average expenses of that place including apartment costs, local utility costs, and social security deposits and cross-check it with your current ones. If it is cheaper, maybe you can start looking into other aspects of the choice, if not, maybe it’s alright to give up the offer.
2. Additional Expenses
If you have to relocate from a place where you have been living for a while, the initial expenses are always a headache. However, try to look into the additional expenses you will be making at your new place if you decide to go. Specifically, the change in commute transport can cost you more or less depending on the place you are moving to.
Take time to consider all other extra expenses and how they differ from your current ones. Also, take into account the amount of raise you get from your current salary. This will help you figure out if the additional expenses are worth considering. Remember to keep a larger margin for this as there are many hidden expenses while relocating.
3. New Work Environment
Your new work environment is probably the biggest decider of whether relocating is a better idea. Sure it would be a lucky opportunity if your current workplace is horrible. But if it is not, there may be reasons that might make you not want to leave.
Try to find out about your new workplace. You can directly contact your employer about your queries or ask someone who is already working there. Also, take into consideration the changes in weather and climate. Some people do not enjoy specific climates. As unlikely as it seems, it can affect your productivity and performance.
4. Growth Potential
Your growth in your career is what matters as you take steps further ahead. It is also the reason why other people value your work and the very reason for you to climb the corporate ladder. Without proper growth, you begin to lose the edge and can often go unnoticed by your superiors.
Evaluate your growth potential in the new workplace. Irrespective of the higher salary, if the job requires you to manage or supervise, grab it. Improving your leadership will take you a long way. On the contrary, if it does not offer any visible growth, you might be better off staying where you are.
5. Impact on Social and Personal Life
The biggest effect relocation has on you is your current social and personal life. It is relatively easier if you are a single person living on your own but even then you have things to think through before making a decision.
Moving away from your loved ones can have a negative impact on your life and sometimes even severe the relationship. Meanwhile, consider the decision from your spouse’s point of view( if applicable).
Will they be happy with the decision you make? Will your children be happy at the new location and will they have a better life there? Have a proper talk with your partner before making the decision.
6. Consider the Negative Aspects
You have to consider all the factors that might go wrong after your relocation. This is not meant to scare you but to future-proof your decision. Make a list of things that will negatively affect you after your relocation. If these things are not serious, you have nothing to worry about!
But if relocation severely affects your health, mental well-being or the relationships you cherish, it would be wise to give up the offer. Let’s not make our lives all about money.
The world has seen a tremendous economic boom in the last 50 years. This is a direct effect of increased consumerism which requires buying and enjoying goods or services offered by other people. With so many fascinating things in the world, almost everyone is tempted to earn more. This is why higher salaries have made people move to the other side of the globe. While relocating can be a wonderful opportunity for your career, it is important to consider the effects it will have later, higher salary or not.
On the other hand, it is important to remember that relocating doesn’t have to be permanent. It is certainly a big decision to make but it is not like you can never go back. If the consequences work in your favor, you can relocate to work until the day you choose to go back.
Think through and make your choice!
Also read: How to excel in an interview
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