Relocate? No way! Why?

Here's the deal: You got pink slipped. Hey, it's not your fault. The company is cutting headcount, closing its doors, moving. It was out of your hands.

Your job search however has turned up nothing where you live. In fact, the unemployment rate where you live is higher than neighboring towns or states.

So what do you do?

At this point you have a few choices.

1) Do nothing. Maybe something will work out. In the meantime you can live off your severance, savings, refinance your home and max out your credit cards.

2) Change careers. Maybe there is availability in something you had never considered.

3) Work one place and live another. For instance, fly/drive a significant distance every Monday to your place of employment and return home on Friday (or Thursday if your boss is really nice).

4) Move entirely.

Point 4 is where we run into trouble. Too many don't want to move under any circumstance. Sometimes the reasons are good - children in school, a sick relative to care for, spouse's job...

But all to often, the reasons sound more like this:

- "My old job will come back. I want to be here when it does."

- "I was born here. I don't want to live anywhere else. All my friends are here."

- "Somebody should create more work here. The government should do something about this."

- "Move where? The rest of the country is not for me. How do I know the jobs won't disappear there either?"

If this sounds like you, please consider what you are saying and thinking.

You know your job is gone. And it is gone forever. Nobody is going to reopen that plant, or office and rehire all the former employees.

Further, if you don't work soon, you will have nothing left to call your own.

Sometimes it is hard to let go, but it is worse to be forced out.

Relocation is not the end of the world. Consider it an extended vacation from home.

You are going somewhere for a few years until you get back on your feet. And one things turn around, you can return - a happier and more mature person. Your home town will still be waiting for you. Perhaps after being away, you may not want to return!

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Compensation and salaries

What are you worth? A million dollars I am sure!

Salaries may rise and fall, but there are some simple rules which I have devised over the years.

1. As you get older, your overall compensation should increase.

2. As you move from one position to another, your compensation should increase.

3. If you lose your job unexpectedly, you may have to accept a lower paying job in the short term, but make sure it is temporary.

4. Titles do not make up for compensation. It is better to be a manager making 60K a year versus a vice president making 40K a year.

5. Rule 5 is negated if your compensation package includes equity/stock/commission in the company - you can make up for the difference.

6. If your occupation, industry or geographical area "tops out" at a certain compensation level, be assured, your pay will be at or below that number.

7. Ignore the overall economy; there are people making millions during recessions and others out of work during boom years.

8. Move with the money. If your chosen profession pays more elsewhere, know why; and be willing to go where the money is.

9. Your current salary determines how much you will make at your next company.

10. Two salaries are better than one.

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