Are you relocating for a job? Or did you relocate for a job that you thought was a dream job but turned out to be a nightmare? If you plan on quitting, be careful! You may be on the hook for relocation costs that the company footed to get you wherever you ended up. Here’s what to know!
First off, relocation contracts are legal documents. If a company pays your relocation costs, even in part, chances are they’ll have a document for you to sign which states all the details. It sounds just like a nice list of promises, but know that if you sign it, you’re legally bound by it–and the company will enforce it later if you try to fight it. If the relocation contract is too much for you, don’t sign it and for the love of pound cake, don’t take the gig.
That contract will usually have a repayment clause, and that clause usually says that you have to repay the relocation costs if you quit–and even sometimes if you get fired. Most relocation contracts require the employee to stick around for at least a year, but some can be longer than that. If you quit before the term is up, you’re going to be stuck footing at least part of the relocation costs.
Some companies may also require you to repay the relocation costs if you’re laid off. If your contract has that clause, experts insist that you either not sign it or that you get it rewritten with that particular clause removed. Because getting laid off is a lot different than getting fired for showing up without pants.