Hello, new grad here in NYC just got offered a primary care contract with a private practice seeking expert opinions.
1 doc, office manager, 3 nurses, and front desk. Doc is super nice and willing to teach, got really good vibes. A little background about this practice is that it is about 70% Chinese population, which is probably why they want to hire me (bilingual). It is worth noting that I will be the first PA the doc has ever worked with.
This is a rough draft that does not cover everything. But I have given them a counter offer and they have agreed to meet up and negotiate. Anything else that I should be concerned with or any thoughts about the counter offer? Any thoughts about bonus structure for second year?
Thanks for any advice or comments.
Draft offer :
Base Salary - 100,000.
Incentive bonus of 20% guaranteed second year. (not sure what that means, probably means 20% of salary increase).
PTO - 2 weeks vacation first year. 3 wks second year. 4 wks third year.
Hours - 5 days/week with 1 weekend day. 9am-5pm.
Health insurance - $1000 per month reimburse coverage (no idea what that means).
Malpractice - "professional liability coverage."
2 year restrictive covenant within 2 miles of practice.
My counter offer :
Starting Salary : $105,000.00
Yearly Bonus : 10% of salary.
Professional License : Cover DEA license if required.
Malpractice : Per occurrence coverage or claims-based with tail coverage. Include as a named provider.
CME : 5 days, up to $2000.00 allowance.
Sick Leaves : 5 days.
1 Year contract.
Questions to discuss :
Retirement Plan - 401K
Health Care - Currently with wife insurance plan.
Professional license second year - practice coverage.
Other office duties.
On call duties.
Second year - Continuous commitment, salary, and bonus structures.