Job opportunity, need to relocate to NYC but no money.

Submitted by diordarlin t3_11ent0j in personalfinance

Hello. I’m interviewing with a great tech company in which I would have to relocate to New York City (dream city).

Just being optimistic and thinking of logistics, I wouldn’t receive the relocation lump sum of $15,000 (~9K if taxes are taken out) in advance. I already asked recruiter. This is the recruiter in the Human Resources department of said company for reference.

Assuming one has no savings, can’t take loan, or use credit card because of poor credit, how does one move??? Recruiter said new hires must be able to relocate within 60 days of start date (also assuming start date is in person).

My lease ends mid August and it’s $4K to terminate early not to mention first month rent, deposits, etc.

Surely one doesn’t pass up a life changing opportunity.

Any help greatly appreciated.

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Comments

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fawningandconning t1_jaf2n2t wrote

Well first, get the job lol. Don't start all of this planning in your mind until it's secured.

Secondly, if you have to relocate within 60 days, surely they would pay you the relocation sum within the first few paychecks, allowing you to move.

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QtK_Dash t1_jaf32ih wrote

As a New Yorker, I would very much caution coming here without at least some cash on hand because it’s an expensive city. Beyond the obvious, if it’s a great tech company— why aren’t they paying to break your lease and pre-paying moving costs? If that’s not possible, I’d suggest moving later as opposed to piling on a bunch of debt moving to an expensive place with low credit. Just my thoughts. I’d get them to pay as much as they can first.

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fawningandconning t1_jaf35q5 wrote

Replying to diordarlin (#2,135,382)

Honestly just talk to them if/when you do receive an offer about relocation options, possibly see if you can sublease your current apartment, etc. Also work as much as you can on whatever is dragging your credit down so much.

But the other side of the coin is that poverty and poor credit can be a self defeating cycle, and many people cannot just up and move even for the opportunity of a lifetime in a situation like yours.

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KReddit934 t1_jaf36mw wrote

Replying to fawningandconning (#2,135,208)

You are missing that presence is required from Day 1.

OP: It's hard without money.....you'll need a place to crash...airbnb, short-term rental, or hotel. Be forwarned...you'll need a lot of money down on an apartment. Might look for a roommate sublet to start??

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Mr_Evil_Dr_Porkchop t1_jaf3bjx wrote

If you get the job, negotiate the lease termination buyout as part of the moving expenses. It would not be wise to move to a very expensive city with no savings or emergency fund.

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fawningandconning t1_jaf3u5u wrote

Replying to KReddit934 (#2,135,857)

Yes those two statements are conflicting, but the second wasn't said by the recruiter. So I'm going off their statement, which I take to mean OP would just need to move up and start going to the office within 60 days of starting.

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drockaflocka t1_jaf3xk6 wrote

Don't do anything crazy until you sign a contract saying you're hired. I would try to negotiate starting remote with intent to relocate within 60 days of start date. From there, you can try to get your relocation fee on your first paycheck and move quickly.

Alternatively, look up everyone and anyone that you know/have known and see if they're in or near NYC. Ask to crash with them until you find a place and say you can pay them for the inconvenience (use salary as confirmation/find alternative collateral).

Early termination would generally be taken out of deposit/last month rent. You can also try to negotiate with your landlord if you're on good terms with them.

Again. Do NOT do anything until the job is secured. Recruiters are generally just middlemen - negotiate directly with the employer/manager.

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