What is a relocation bonus?

A relocation bonus is a financial incentive that employers offer to help cover the costs of moving for a new job. This bonus can assist with expenses such as transportation, temporary housing, and moving services. The amount and terms of the bonus vary by company, and it may be provided as a lump sum or as reimbursed expenses. Employers offer this benefit to attract top talent, especially for positions requiring relocation. Some relocation bonuses may have conditions, such as a required length of employment or repayment if the employee leaves early.