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Old 10-08-2008, 01:11 AM
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Default Housing Bubble: How has it affected relocation packages?

With the housing bubble bursting in many higher cost metro areas, what are insurance companies doing in response to relocating new hires?

If someone is $50K, $100K or more upside down on their house are they effectively unhireable; being unable to absorb the hit on selling their house and unable to find an employer willing to assume all or part of that financial hit?

If an employer is willing to assume all or part of the cost, what are the typical limits?
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Old 10-08-2008, 01:55 AM
hopper hopper is offline
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I do not think any company would pay for your loss. However, they may pay for commission.
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Old 10-08-2008, 07:59 AM
Westley Westley is offline
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Not unhireable, but the company is probably not going to take that hit. Maybe they would for a Chief Actuary or something, but not for somebody running a team or department.

Doesn't mean the person is unhireable, just that they would have to deal with the problem themselves - come up with the money or rent out the house or bankruptcy or something.

The company's offer will, for most actuaries, cover some kind of relo benefit based on current market values - i.e., sell your house for current value and the company covers the cost of selling; if you can't find a buyer, the company may buy it, at current appraised value. There might be some kind of sign-on bonus and also a bonus for selling the house yourself (as opposed to making company buy it), but that's unlikely to cover $100k unless it's a top-level person.

That's just the view from here - hopefully Claude will chime in as well.
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Old 10-08-2008, 09:10 AM
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I'm just curious what kind of additional pressure, if any, this has placed on companies looking to fill positions and if they have been more liberal or aggressive or whatever you want to call it in assisting candidates in a down market to relocate.
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Old 10-08-2008, 09:44 AM
DW Simpson DW Simpson is offline
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Quote:
Originally Posted by Westley View Post
hopefully Claude will chime in as well
I've asked a few DWS recruiters to update the views from the second section of http://www.actuarialoutpost.com/actu...9&postcount=29
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Old 10-28-2008, 03:17 PM
DW Simpson DW Simpson is offline
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Quote:
Originally Posted by D.W. Simpson Webmaster View Post
I've asked a few DWS recruiters to update the views from the second section of http://www.actuarialoutpost.com/actu...9&postcount=29
From DWS recruiter (I forgot to post this weeks ago):

Quote:
Originally Posted by DWS recruiter
Your old answer including $ values would still hold true.
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Old 10-28-2008, 03:18 PM
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I'm just curious what kind of additional pressure
No additional pressure. They care as much or as little as they did several years ago.
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