Summary: Financial considerations for those who have just landed an international assignment.

So you landed that exciting assignment abroad! Most transfers take place between May and September and according to U.S. News & World Report, as many as 400,000 employees relocate internationally each year ("Taking a Foreign Flier," March 12, 2006). That means thousands of Americans like you are contemplating or undergoing a move to a city across the globe.

New opportunities await, but they come at the price of stress on uprooted family members and the challenges of moving house. From finding schools for the kids to locating a new doctor or dentist, to the daily details like grocery shopping with a foreign currency, many aspects of an international move compound the major tasks of making living and moving arrangements.

The one thing you won't have to worry about is getting paid, right? Well, it's a little more complicated than you might think. For example, if your employer doesn't make the necessary frequent adjustment, your U.S. salary could be transferred into foreign currency and therefore your day-to-day spending will be subject to changes in exchange rates. Important personal finance considerations like this often get overlooked in the rush of preparation for an international assignment.

Fortunately for you, your company-sponsored assignment means you have additional resources at your disposal to help ensure the details of life abroad run smoothly. Here are some valuable tips for people who are transferring to offices overseas this summer, or at any time of year:

1. Consider your human resources team as an advocate, not just the authority. It's tempting to rely on HR to make your important decisions for you -- after all, they usually know what's best.

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About the Author Currently a Managing Director of Hanover Partners, a corporate services firm providing executive management to client organizations. Among a range of disciplines, the firm provides CFO, Treasury, Marketing, and general management resources. Prior to Hanover, he served as CFO of Systemix, Inc. He has also served as Treasurer of $3.0 billion CoreMark International, Inc. Prior to CoreMark he held the position of Senior Vice President at Wells Fargo Bank, where he was responsible for corporate finance, capital markets, and strategic planning activities. Prior to Wells Fargo, he was an officer at Chemical Bank (JPMorgan).

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