Is the $25k that they’re giving you to move to TX enough to cover moving fees and your mortgage for the year?
15 replies (most recent on top)
Love it in Denver - couldn’t live anywhere else.
Keep your $50k, I’ll take the larger severance amount as you struggle to replace experience with Frisco’s “fresh, young talent” who has a plethora of options in DFW and would be foolish to pick here over others.
Great!! Take my co-worker 'Koresh'. I'll stay here in Denver.
@pz+1jsd39vxf
$18 million dollars though…
Instagram clout though…
Such an exciting time to work at TIAA though…
Retirement for all until we run the company into the ground though…
The problem has always been the companys priorities. We had a director who you would only hear from when they were trying to get 100 percent return on some opinion survey or your training was due. Instead of d-mb stuff like that, How about displaying participants daily balance a little earlier instead of 5 hours after fidelity?
you have one guy in Colorado who has been with the company 40 years. There is no one more helpful than this guy. You want to risk losing someone as a valuable as this guy over a forced move to texas? You cant let him work remotely? what's more important?
We don’t want her back in Texas.
Thasunda grew up in Texas. She wants to feel like she can compete with the big companies and wants to return to her roots. This has nothing to do with business, TIAA is just the vessel for her to get her Instagram clout and the road to Texas is paved with the people that she has sold or abandoned.
It’s obvious that the tax benefit TIAA will receive from TX is extremely id--tic when you take more than 30 seconds to consider the impact this will have on the company for years.
TIAA could have just as easily kept the most experienced talent and moved half of the workforce in Denver downtown to Denver Tech Center. They would have saved money on lease costs, kept irreplaceable experience and trimmed the fat… but nooooo that makes too much sense.
Mark my words, this company will over hire to make up for the talent loss and labor costs will be blamed again and again until the company finally crumbles into a de-th spiral.
I think this post is bad attempt at pro TIAA move to Frisco TX propaganda. Either that or they don't know how to do math (bad for a person in a Financial field company) or use the Internet. For Frisco TX, the Internet says a two bedroom apartment is around $2100 a month. Average home price $680,000, which is payment of around $5800 a month with taxes and insurance. Hopefully TIAA is paying you the $145,000 a year needed to support that payment. It does get cheaper in Plano and Dallas but then you have a longer commute and you know there going to want you in there fancy new office. Finally, you're going to do this for a dying company. In a decade, likely sooner the best parts of TIAA will be sold off and the new company may or may not take you with them.
TIAA can keep the money.
I’ll keep my 3% mortgage and go find another job.
I wish that declining the offer to relocate changed our severance date to sooner than later as a means to get more to move. I mean it would help to space out job postings versus doing some 200 or so at a time in July, March and next July.
As bad as I feel for my team being left behind… I feel really bad for HR who will get swamped with requests and will be scrambling all over the place to post/fill roles in Frisco only.
Apparently no one at the top cares about TIAA associates that are being forced out or those that will remain here. Not the exec. “Leadership” or the board.
I know the Denver lease is somewhat expensive. But is paying out $20M (possibly more) and losing literal decades of experience and knowledge on each team and overwhelming the current and future associates worth it?
Talk about workforce burnout to save a few bucks and get the TX tax benefits.
Shameful company. Pathetic leadership.
Some were offered $50k. That is still not enough.
But hey there is “fresh new” talent in Frisco. /s
Good luck selling your house right now. You’d better hope that check will cover your mortgage or at least your apartment in Frisco cause paying for both will be hard when they lay you off.
Can confirm we were told it was the exact amount so if offered $25K it would have been a $25K deposit/check and NOT taxed like a bonus.
Seeing that severance for most associates would be more than relocation amounts, even though the amount for severance is taxed… a lot of folks would rather take severance than relocate only to be potentially laid off without severance shortly after moving which this company is known for doing with each hub it launched (see Charlotte and Denver).
Worthless post… Here is some simple math OP.
25,000 / 12 = 2,083.33.
Not many places have a mortgage that low in the last 15+ years. This is without factoring in PMI or an escrow account for HOI and property taxes.
This a joke… Right? Some got more some got less.
Dude - 25k wouldn’t cover a year mortgage for anyone in Charlotte, Frisco, or any city in any state in the US TIAA has a hub. Frisco COL is about the same if not more than most in Denver due to higher property taxes in TX. May cover renting a one or two bedroom apartment for a year somewhere but that’s about it. Plus average costs just for moving expenses alone is $10-20k.
Even if it was $100k that wouldn’t be enough for most to move halfway across the country for a job to work in an office 3 days a week.