brooks23 Posted December 21, 2016 Share Posted December 21, 2016 Hey all, I was just offered a derm position in central CA, and would love to get some feedback. I'll outline the contents of the offer: -$80,000 salary with 5% bonus on anything greater than $300,000. However, I won't see any of the bonus until after 1.5 years of working. The doc pays the bonus as a lump sum at the end of the calendar year. Since I won't be starting till May, I don't get any bonus until my first full year of working. -Benefits: I would get 50% health care coverage for myself, but no coverage for my wife and son. Malpractice with tail coverage is taken care of by the practice. -3 days for CME and $2000/year stipend for CME/travel expenses -All fees associated with practicing are covered by the clinic (DEA, licensing, etc) -PTO was not outlined in the contract -Schedule: Monday-Friday 8-5. The MAs do most of the charting to make pt interaction more efficient. -6 paid holidays -5 year contract since doc wants to ensure longevity with the practice. I understand his logic here, but the long contract still makes me nervous. The doc has stated that even though I am starting at a low compensation, after 1.5 years I will be up and running full-steam and will be much more beneficial to the practice. At this point, he's willing to renegotiate my salary. Do you think that is reasonable? I'm just nervous since the specifics of all of this seem vague and I'll be tied up for 5 years. Your feedback would be greatly appreciated! The doc has stated that even though I am starting at a low compensation, after 1.5 years I will be up and running full-steam and will be much more beneficial to the practice. At this point, he's willing to renegotiate my salary. Link to comment Share on other sites More sharing options...
cop to pa Posted December 22, 2016 Share Posted December 22, 2016 If you're going to be there for 5 years, it would be nice to know exactly when and how salary renegotiation will take place instead of "being open to it". Link to comment Share on other sites More sharing options...
marktheshark89 Posted December 22, 2016 Share Posted December 22, 2016 Salary is low for derm, i would have set raises built intothe contract. The bonus is pretty pitiful to be honest given the already low salary. Should be more like20-30% of what you bring in over 300k. Try for 5 days for cme. Get clarity on PTO for sure. Health insurance isnt great, especially if you will have to pay for your families out of pocket. I'd counter with a higher salary or higher bonus, guaranteed raise structure given you meet some performance standards that you both agree on, 5 days cme, 3 weeks PTO (min) plus the holidays. Definitely wouldnt ever sign something for 5 years, and if you do make sure the penalty is spelled out if either party breaks the contract prior to that. Also no mention of retirement plan? Link to comment Share on other sites More sharing options...
PC2ED Posted December 22, 2016 Share Posted December 22, 2016 This has BAD written all over it my friend. Derm at 80K? bad (though if you're a new grad it is kinda okay, but the remaining of the offer stinks) 5% bonus? bad ... and you won't see it AFTER 1.5 year? BAD. plus, how will you know what you bring in? are you gonna get a report? Half Health coverage? BAD, real BAD ( too bad for your wife and kid(s) they cannot get sick for FIVE YEARS, unless your wife's job provides health insurance) PTO is a mystery? Fish smelling BAD "5 year contract since doc wants to ensure longevity with the practice. I understand his logic here" There is NOTHING to understand here. This is something I would be VERY VERY careful with. Do you know how long that is? I have never heard of a contract this long! 2 max 3 yr. Plus what happens if, heaven forbids, you don't like the job/ you change your mind/ you don't like your peers/SP or life events shows up unannounced that you have to move? will you OWE HIM MONEY? are you a new grad? look, I don't know you, I don't know your SP, but I do know based on your offer that you ain't getting a fair deal out of this. you and your family deserve better. Link to comment Share on other sites More sharing options...
Moderator ventana Posted December 22, 2016 Moderator Share Posted December 22, 2016 horrible 5 years - no way bonus paid once a year, no way need full access to all billing/collections more PTO as well nope, no thanks Link to comment Share on other sites More sharing options...
brooks23 Posted December 23, 2016 Author Share Posted December 23, 2016 Thanks, everyone for your thoughts. You've confirmed what I already thought, so it's nice to get some validation. I'm going to counter his offer with what I believe is fair. I'll post again when I know what's going on. Link to comment Share on other sites More sharing options...
Guest ERCat Posted December 31, 2016 Share Posted December 31, 2016 All of this is just really bad. Link to comment Share on other sites More sharing options...
brooks23 Posted January 1, 2017 Author Share Posted January 1, 2017 Update: I turned down the position three times. The first two times, he wanted me to tell him exactly what it would take to get me to commit to their clinic. I eventually laid everything out that I wanted and thought was fair, and he said that they weren't able to offer those things. Oh well! I just accepted another job in EM to gain some good experience. Maybe derm will be on the horizon some day! Thanks everyone, again. Link to comment Share on other sites More sharing options...
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