Addressing compensation with prospective employers can be intimidating for many job-seeking physicians. Given that the person sitting across the table likely has significantly more experience in these types of discussions and that your approach could negatively affect your candidacy, feeling intimidated is certainly understandable. The good news is that a better understanding of the process and knowing how to best approach these conversations can help level the playing field and prepare you to confidently navigate them. Know the appropriate time The general rule of thumb is to let the employer....

 

You’re looking for jobs, interviewing and starting to receive offers, but how do you know which provides the best value for you? To understand your offer, it’s important to know all the aspects of the contract, especially how it will impact your earning potential. Compensation is a large factor when accepting an offer, especially if it’s your first position. Overall compensation can vary based on salary, shares, productivity bonuses, RVUs (relative value units used in reimbursement formulas for physician services), benefits and expenses. Your salary is the base level of pay y....

 

Throughout the past seven to 10 (or more) years, you’ve learned the art of living frugally while working for a fraction of your worth during all those years of training. Then, the end of training nears. You are about to embark on a new journey with greater responsibilities…and a much larger paycheck. You likely won’t receive much sympathy from your non-physician peers or family as you face this reality; a significant increase in income sounds like a good problem to have. In fact, it doesn’t actually sound like a problem at all. The reality is that the sudden influx of....

 

What’s your competition like? For job-seekers of all kinds, it can be hard to know. A simple PracticeLink.com search for opportunities in your specialty will give you an indication of the demand for physicians like you, but without knowing who else is vying for those jobs, it’s hard to get an accurate picture of supply. How many other candidates in your specialty are actively looking for jobs at the same time? And how does that number correspond to the number of opportunities available? That’s where the PracticeLink Physician Recruitment Index comes in. The Index is a relativ....

 

When investigating potential jobs or opportunities, it’s easy to get excited about large sign-on bonuses, inflated hourly rates or what appear to be substantial benefits packages - because these are all compensation tools used to catch the eye of prospective candidates. Not so fast, my friend! To consider total compensation, you need to see the complete picture, one that includes all these factors as well as a way to gauge the value of them as it relates to your situation. In this article, we will take a shallow dive into some of the more common forms of compensation and address how to f....