New Ortho Jobs

[mgriffiths]

Hello All,

I will be a new grad in approximately 2 months, and just secured my first job out of school!  I am very excited and thought I would update everyone, and also include a second offer I received that I will be declining in the very near future (assuming all of the paperwork for the first job comes through).  Some of you are aware of previous jobs I've been offered, and the job I accepted is the same one as a thread I started a few weeks ago with some changes.

 

Job I accepted: Southern IN

Pretty large practice, something like 14 docs and around 10 NP/PAs - cost of living is pretty significantly below average

• Schedule most days 50% surgery and 50% clinic - supposedly around 15 patients per half day in clinic
• Salary: $95K with NO bonus
• 15 days PTO with additional 2 personal days (Increases by 1 day every year, I believe it tops out at 25 days)
• 5 days sick time
• $2500 CME + 5 days PTO
• Health insurance is reasonable cost
• Essentially an 8% match in 401k (I put in 5% and end up with a total of 13% due to match and profit sharing)
• Paid licensing, credentialing fees, and any other fees I would need to practice
• Malpractice (under the practice's umbrella policy and includes tail)
• Disability insurance, life insurance (I don't know specifics on any of these)
• $10k sign on bonus to be used as I please (moving/loans/etc.) - This requires a two year agreement, if I leave before then I have to return the full $10k
• There is NO separate/ongoing loan repayment
• I am NOT on the call/weekend/sporting events schedule!  If I want, I can pick up shifts to cover for others.  Obviously there is no guarantee that I will get shifts, but could be a nice salary boost.  The amount varies, but one night of call per week would be approximately a $10k salary boost.

Some of you had some concerns regarding this job, especially as it seems that the physician/practice is walking away with my surgery fees.  I completely agree!!!  I made it clear that the lack of productivity/collections bonus was concerning, and this actually led to me declining the job initially.  A few days later they made a counter offer, which is mentioned in the other thread, and I countered back with what you read above. Also, in the conversations I was told by my supervising physician that if I followed through on my claim to be an efficient and hard worker that she would personally bonus me separately from the practice (I'm employed by the practice, not her).  I understand this a verbal guarantee, but the salary and benefits starting out (along with the location) are some of the best I've seen advertised in ortho for a new grad.

 

Second Job:  Chicagoland

8 docs and currently hiring towards a goal of 8 PAs - cost of living is SIGNIFICANTLY above average

• Approximately 50% clinic and 50% surgery
• Salary: $95K with NO bonus, could potentially transition to a collections based salary in the future.  This practice just recently started hiring PAs so they need to see how things work.
• Call Schedule: 1on:3 off not including weekends, every 3rd-4th weekend, and sporting events (I know it would be every Friday for football, and then a few others throughout the year as well)
• 20 days PTO
• $3000 CME + 5 days PTO
• Health insurance is reasonable cost - might be slightly better than plan above
• 401K with discretionary match until 2%, and discretionary 0-6% profit sharing, but this is all discretionary so there could a 0% match.  Last year they fully funded the 401K, but the three years previous they did 0%.  I could not get an answer as to what happened.
• I have to pay for my initial licensing and credentialing fees, but they pay it annually after that.  I have no idea how expensive that would be, but I find that unacceptable!
• Malpractice (under the practice's umbrella policy and includes tail)
• Disability insurance, life insurance (I don't know specifics on any of these)
• $2k sign on bonus
• Maximum $8k moving stipend
• There is NO separate/ongoing loan repayment

 

Just the difference in cost of living between the two locations makes the Southern IN job WAY more lucrative, then add on that I'm not on the call schedule.  That is not just a financial game changer, but quality of life!  I do understand that I can't count on the verbal guarantee of a bonus, and there was no discussion on how much or what percentage that would even be.  But, while others may have come across better orthopedic offers in their hunt, the only offers I found that even compare to my new job in IN are in very rural, or very high cost of living locations, or on the completely opposite side of the country than any of our extended family.

 

Bottom line, my wife and I are happy and look forward to building our family and life in Southern IN.  It's a good location in regards to extended family, and I think the practice will present a wonderful learning opportunity with good variety for me.  My supervising physician does mostly joint replacements, but also some trauma and other cases. If my compensation doesn't grow like it should (i.e. productivity/collections bonus) then we will consider that and determine if we need to move when the time comes.

 

Thanks for those who helped give me guidance in this process!