New grad primary care job offer, any advice?

[julia_dodo]

Hi guys:

I am about to graduate and have got a tentative job offer from a private family practice. The physician wants a three year contract.

 

salary 80k/yr; bonus option starting 2nd yr based on productivity.

Malpractice covered, licensing fee covered.

2 weeks PTO +1 week CME with 50% reimbursement up to $500

no insurance, but provide up to $4000 stipend to purchase my own insurance

no retirement

 

work Mon-Fri 730-4pm, plus rotating after hours (weekdays 4-530pm or Saturday morning 9-1) so average weekly hours would be around 43. no calls.

 

I think it is on the low side. calculating the hours, it is not even 40 dollars/hour. Is that right? What is the average hourly wage for new PAs? I couldn't find information on AAPA website.

accepting the 80k base pay, but should provide either retirement option or increase ~3.5% to 83000 base pay

2.5% anual raise on base pay to keep up with inflation

drop the "50%", straight up $500 CME (this still feels like a low number?)

There's also a "buy out" option for breaching contract, but it only applies to me. I think there should be some provision about the physician as well, but don't know how to ask.

What do you guys think? Is it fair bargain, too modest or am I asking too much? Is annual merit raise and 401K a standard thing? By the way, this job is in Austin, TX. I have heard that it is hard for new PAs to find a job here, and Austin PAs do make less than there counterparts in other major TX cities. Can someone give me any feedback?

 

Greatly appreciate any input!

[Gaijyn]

I too am a New Grad so I can only give you an idea regarding the PC jobs that my fellow classmates have gotten.

 

First, where is this offer at? Rural place or larger city? Cost of Living high or not so much? How many patients are you expected to see and your productivity is based on what? Amount of revenue billed, patients seen /hr, amount collected, # of new patients only, etc? May want to clarify that.

 

The offer seems pretty low compared to what my fellows have been getting. Here is generally what they have been getting:

 

83-90k/yr (typically including an up front signing bonus) for a 1yr contract

2 weeks PTO, insurance covered up to $4800/yr (given a monthly stipend of $400)

1-2 weeks CME with $1500-2000 reimbursed. 1-3% match on 401k/Retirement account

 

That is roughly the consensus. Personally I would be wary of a 3yr contract. I feel that 2 years is maybe the most I would feel comfortable with as a New Grad. Especially given that many choose to change specialties within that first several years until they find the right fit. Also, a buy out clause could be pretty rough. Unless it is a straight forward fixed amount, you could get screwed with being locked in or spending more money than you really can to leave.

 

Overall, my limited experience seems a bit low from what I have been seeing. Though I am sure that some of the well versed individuals will be able to give you a better idea of how it stands. How much do you like the place/area/doc/Primary Care?