Crunching the Costs of New Year's Resolutions
While not an option for employees just happy to have a job during the recent economic downturn, a recent survey by job placement firm Manpower found that 84% of workers plan to look for a different job this year, up from 60% a year ago.
That said, there are myriad factors beyond salary that could turn a change of careers into a cash vacuum. According to the folks at Monster.com (MWW - Get Report), any new degrees required for this change would incur the tuition, fee and room-and-board costs mentioned earlier in this list. Unused sick time and vacation days would also be chalked up as losses, as would any disparity in benefits such as stock options or day care. Job-hunting expenses are usually tax deductible, but that only applies when seeking a job in the same profession.
If your career path leads out of town, however, the Employee Relocation Council says to prepare to pay an average of $1,836 for a house-hunting trip, more than $16,000 on average for the move itself if you rent and an average of more than $55,000 if you own a house and need to sell it.
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