msusparty Posted August 13, 2016 Share Posted August 13, 2016 Hey everyone,Please offer any input you can on this offer! I used to work with some of these docs as an MA. I really want to work here as a PA, but I don't want my emotions to get in the way of making good decisions in regard to the contract.Salary: $85k with 15% collections after 2.5x salary brought in to the practiceMalpractice: no mention yetLicensing fees: no mention yetCME: 3 days, $2000PTO: 17 days, up to 21 after two years with the company401k: 3% matchingHealth insurance: Covered 100%, but I am on my husband's plan so this doesn't matterShould I counter on some of these items? Can I try and get some of the health insurance money toward my base since I'll be opting out? I'm nervous to counter because I'm a new grad with only MA experience in the ENT setting.Thank you! Link to comment Share on other sites More sharing options...
msusparty Posted August 16, 2016 Author Share Posted August 16, 2016 I received more info about this offer tonight and edited it above. Please help! Link to comment Share on other sites More sharing options...
mgriffiths Posted August 16, 2016 Share Posted August 16, 2016 What general area is this in? Cost of living really matters regarding whether the salary is decent, so hard to say how good or bad it is. But, assuming an average cost of living the salary seems decent, but I would counter. I would definitely mention that you will be opting out of the health insurance, but not use it too heavily as a bargaining chip. Anything could change to where you need to start using their health insurance, so partially they are paying for it to always be there for you. As for the bonus, the minimum you have to meet seems too high to me. From what I've read, once you double your salary in collections the clinic is already making a profit off you. Therefore, why not make 10% bonus on all collections? Or decrease the threshold to 1.5x your salary, or increase the percentage to say 20% and make it 2x the salary? Also, how many patients per day or week do you have to see before you reach that threshold? It is very important that you have 100% access to the books and that the numbers are easily interpretable. Some here don't like the bonus system for a variety of reasons (supports unnecessary labs/imaging/procedures/etc. to boost numbers and can be easy to be taken advantage of), but a lot of employers like it. Another question is whether this is a surgical group? If you see a high percentage of post-ops, depending on how reimbursement is calculated you might take a huge hit because usually post-op visits are included in the initial surgical billing. Example: the doc collects 100% of the surgical billing but makes you see post-ops which won't count toward your bonus. Malpractice: make sure it has tail or that it is occurrence based (doesn't need tail) Licensing fees: these should be 100% paid by the clinic CME: I would try to get a full 5 days PTO: the more you can get the better, but 3+ weeks isn't bad, just make sure it's written in the contract that it goes to 4+ weeks after 2 years. Question to ask: can you roll any of the PTO over to the next year or get it paid out at the end of the year if you don't use it? 401k: I'm confused, they match 3% up to $15k. So they will give you $450 if you put in $15k, or they match 3% of your total salary with a maximum of $15k. So if you make $100k, they'll match your first 3% for a total of $3k? (seems odd since you would have to make over $500k for this limit to kick in. If this is the interpretation it could give you an idea how much the docs you work for are making) Lastly, how many hours worked per week, call schedule, weekends, etc.? Link to comment Share on other sites More sharing options...
Reality Check 2 Posted August 16, 2016 Share Posted August 16, 2016 http://money.cnn.com/calculator/pf/cost-of-living/ I found this city to city comparison calculator that might help some folks. It compares salary as in - if you make X in this city - you have to make Y in this city to buy the same houses, products etc. It show general grocery comparison and other basic costs. Thought it might help Link to comment Share on other sites More sharing options...
msusparty Posted October 20, 2016 Author Share Posted October 20, 2016 Hi again everyone, thank you so much for the advice. Here is a quick update: I was successfully able to negotiate the following: Salary from 85k to 92k, full malpractice w/ tail coverage, and bonus is set at 15% of 2x salary brought into the practice. One big question: I was recently heavily recruited by another practice a few hours away (let's call it Job B) This position is very similar to Job A, although it would be a much higher patient volume. Job B made an offer of $110k with a similar bonus structure as Job A. I would much rather work at Job A, but I have yet to sign my contract. My question: Because I have not signed the contract for Job A, is it appropriate to present this much higher salary offer from Job B in order to get a bump in salary from Job A? Or, because we have already negotiated salary, is it a bit too late? Thanks!!! Link to comment Share on other sites More sharing options...
mgriffiths Posted October 20, 2016 Share Posted October 20, 2016 "Nothing is done until the ink dries" You have agreed to nothing, so it is definitely not too late. Honestly, it is never too late to discuss salary. If you were to accept Job A, 6 months later you could attempt to renegotiate your salary again. I have accepted a job and while the compensation is pretty good for year 1, I am a bit worried about how my compensation will grow. My plan is to continue looking at job listings, compiling data to use as "evidence" to explain my market value if my compensation doesn't increase as it should. Employers will always pay the minimum amount needed to keep you. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.