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Hi fishes,
I am planning a switch so was going through some salary data for a software engineer. My ex-senior manager recommended me a website: Growceed.com which helped me a lot in getting clarification about a lot of things but I am in doubt whether the average salaries of software engineer mentioned on Growceed.com really that much in top MNC companies.
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I’ve lived in hotels full time for almost three years and a bunch before that. Some incorrect info here:
1) Taxable income - all employer-paid relocation benefits are now taxable income, including moving costs and temporary accommodations, regardless of whether that’s in an apartment or a hotel.
2) Checking out <30 days: in most states, you are considered a tenant after 30 days (in some states like NY it’s 90 days). This does mean hotels may be a little more apprehensive about long stays, but in practice I’ve never had a hotel have an issue with a stay >30 days. More importantly, if you have a stay of at least the number of days required to be considered a resident, the entire stay is exempt from all lodging and related taxes, which can often be 20%. This can be a big benefit even if your employer is paying, as you’ll at least save the income tax on the amount the employer would have paid in lodging taxes.
3) Points: At most Marriott brands, you earn 10 points per dollar plus a 50 percent bonus for being Platinum for a total of 15 points per dollar (before any credit card points). However, stays at most long stay Marriott brands (Residence Inn, TownePlace Suites, element, and Marriott Homes & Villas) only earn 5 points per dollar plus the 50% bonus for a total of 7.5 points per dollar. Not too relevant in the US, but stays at Marriott Executive Apartments only earn 2.5 points per dollar plus the 50% bonus. If you’re OK without a kitchen, stick to a different brand. I don’t cook and prefer brands with executive lounges or at least a good full breakfast that comes free with having status.
I have but that depends on a lot of factors. Are you enrolled in any current promotions that would give you extra points. Are you an Elite member? What’s the cost per night? You’ll obviously get a lot of points but also just for your knowledge they will have you check out once you hit somewhere between 29-30 days for residency purposes. In some states you would have squatter rights so hotels will separate your reservation they may also make you pay every time you “check in” rather than waiting until the end like you usually do on a normal stay.
Which property did you stay and what was the multiplier for the points?
Just be aware you might need to pay taxes on this. I’d figure this out before making a selection.
A previous company put me up in an apartment for 3 months as part of a relocation deal while I house hunted. At the end of the year the cost of the 3 months rent was counted as additional income on my taxes. Hopefully your firm will manage this differently, but I’d just encourage you to check on that.
Depends on the city. When I did this for a long term project in NYC, my employer put me in a fully furnished apartment (basically a rental unit)