I graduated in 2013 and moved to Chicago for my first full time job with my current company last October and making about $70k USD which at current exchange rates is about $76k CAD. This was meant to be temporary as company policy requires all new grads to work at HQ (Chicago) for one year before relocating to one of our other North American offices. I was scheduled to return to Toronto after one year but due to personal circumstances (family issues) I had to ask the company to relocate me back to Toronto ahead of plan (8 months vs planned 1 year). My request was approved and there are a couple of forms I need to sign and I'm supposed to "work with" HR to transfer me over to Canadian payroll/benefits and etc.
I have already heard numerous stories of how people have had to take a pay cut when they moved to our Canadian offices but I'm not sure how much it will be. Looking at my company's salary bands for my grade, Toronto's is 5-12% lower than Chicago's from the low end to high end. My current salary sits slightly above the low end for Chicago but approaching middle for Toronto.
I know I'm still relatively inexperienced and have less leverage since the company did me a favor by granting my request, but any ideas on how to negotiate the pay cut in my favor? My company is giving me $2000 (after tax) for relocation with the condition that I pay it back if I leave the company within a year, which I could offer to give up in exchange for less pay cut or I could volunteer to give up the next raise or two (scheduled in 4 months and 10 months from now and expect minimum 5% each time) in exchange for no pay cut.
Is it reasonable to try to stay above $70k CAD after relocation (-7.5%)? What do you guys think?
I have already heard numerous stories of how people have had to take a pay cut when they moved to our Canadian offices but I'm not sure how much it will be. Looking at my company's salary bands for my grade, Toronto's is 5-12% lower than Chicago's from the low end to high end. My current salary sits slightly above the low end for Chicago but approaching middle for Toronto.
I know I'm still relatively inexperienced and have less leverage since the company did me a favor by granting my request, but any ideas on how to negotiate the pay cut in my favor? My company is giving me $2000 (after tax) for relocation with the condition that I pay it back if I leave the company within a year, which I could offer to give up in exchange for less pay cut or I could volunteer to give up the next raise or two (scheduled in 4 months and 10 months from now and expect minimum 5% each time) in exchange for no pay cut.
Is it reasonable to try to stay above $70k CAD after relocation (-7.5%)? What do you guys think?