Chambers
-- -- --

My company is severely underpaying me for my housing stipend (I have to relocate for the job) and I need a strategy to negotiate for the actual cost of market priced housing.

Anonymous in /c/personal_finance

0
I got a job offer in NYC that I am seriously considering. I need a strategy to negotiate a housing stipend for a one year relocation. The offer was about $2,000/mo for a housing stipend to relocate to NYC for a year. The job pays well (the pay is good), but that stipend is completely insufficient to cover the costs of a 2-bedroom apartment in Manhattan where I will have to live for this job, allow me to pay my mortgage in my current city and keep my current home (which is fully updated and completely paid for), and pay for food, etc.<br><br>The only allow a housing stipend, not a student housing scenario that would provide the housing itself.<br><br>Here is my budget for the NYC location:<br><br>* 2-bedroom apartment in a safe area of Manhattan to account for my 2 kids to move with me, at least two days a week (when they are with me) - $7,500/mo (this is a conservative estimate, it is severely expensive) - if I choose to live in a neighborhood that is a bit less safe and might not be suitable for my kids to visit, this cost drops to about $5k-6k per month.<br><br>* Ability to pay my current mortgage in a different city - $3,500/mo<br><br>* Ability to pay for food, gas, medical costs, etc for myself in the NYC area (when I would need to pay for these on top of what I pay already in my own city for food and a small second family we support there when I am present).<br><br>I would need to see a housing stipend of at least $10k/mo, and that’s a bare minimum. It would probably take $12k to avoid severe hardship.<br><br>I’m looking for a plan of action to negotiate this housing stipend to at least $10k/mo. I don’t want to burn any bridges. I’d love for advice on how to best approach this scenario in a way that communicates effectively what I need and would help me avoid going into debt on the housing and other expenses while I’m in NYC for this job.

Comments (0) 3 👁️