By: Fred Coon, Chairman, CEO

“These are times were we’re all asked to do more challenging things than we did a year ago. The winners are the ones that step up and do that.” Jane Howze, Managing director of The Alexander Group.

It’s tough out there; job loss is at an all time high. In fact the unemployment rate is still almost at 8% and there is no end in sight. Executives are finding themselves in a hard place because they cannot compete with some of the younger professionals who are willing to relocate on a moment’s notice.

Relocation can be costly. It may be even harder for a higher level executive to move. You will have to sell your home, pack your family, and move across the country – or in some cases across the globe. It’s expensive and the interim period can be extremely stressful. But the question is, should you relocate? Is it worth it?

If you were to go by the unemployment rate, you would certainly agree that it may be worth it. However, it should not be a decision based on simple statistics and it should never be taken lightly. Statistically, older executives do not want to move. The reason: they are satisfied with the market that they live and work in.

Questions to ask yourself if you’re thinking about relocating:

  • Is the area where you are moving a good place to live?
  • Is the company paying for the move?
  • Are you mobile?
  • What can you do if you don’t like it there or the job does not pan out?

The area where you are going to live should be conducive to you. It is therefore very important for you to do your research before you embark on this voyage. If the neighborhood is near an airport, can you live with that noise? Is the commute reasonable? Does the climate appeal to you? This and others questions should be addressed – after all it’s the spot where you might be living for the next decade.

In other cases some companies may move and ask you to move with them. If that is the  case, understand that you will have to most likely hire new staff in the town that they are moving too, which on top of your relocation efforts will be another load of work for you to take care of.

The number one drawback for many who are facing the possibility of relocating is that they will be leaving their families. Leaving your loved ones, like an aging mother, is going to be devastating blow, but if the move and pay is enough to make sure that you can get home intermittently, it brings comfort.

Again, having to relocate to another area doesn’t mean the end of your career, and in many cases, it may simply be just the beginning. If you are like most people, the chance to work in NYC or San Diego is not too large of a jump. After all, those spots are still teeming with networking opportunities. However, surprising enough, according to Bloomburg Businessweek the least favorite spot for people to move to is New York City. Why? New York has a high cost of living, which is the number one reason why so many people do not want to live there.

No matter what major city you relocate to, there are compensations to living places like New York City, including working to enhance your career in a business hotspot. Check out our latest placements for success stories that included relocation.