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friedPA

Family Med Offer - New Grad - Need insight

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Hello everyone - thank you all in advance for your advice/input! I am a new grad and have a Family Med offer I'd like feedback on. This is for a rural practice in Tennessee.

 

-$85,000 base pay
-$20.00 per RVU for each RVU generated over 3,035 RVU (aka 3,035 RVU in 12 months gets me the $85k base salary)
-$6,000/year Tuition reimbursement (each year for the first 5 years of employment)
-$10,000 signing bonus
-$1,500 CME allowance/3 paid leave days to attend
-$750 Licensing/Membership fees
-Potential $3,000 end-of-year administrative bonus if you code >90% accurately 
-20 paid personal leave days (5 unused roll over to next year)/ 6 paid national holidays (if you are normally supposed to work on this day)
-Health insurance (no dental or vision)
-Life insurance
-Malpractice insurance ($1 million per loss & $3 million per annual aggregate) - no tail
-401k c matching of 2.6% of base pay and 50% matching contribution
-2 year term for this contract
-5 mile non-compete clause
 
So when looking at these numbers and considering the entire package, it really doesn't seem like a bad offer. Also, AAPA's 2015 salary report data states for a new PA with 0-1 years of experience in Family Med in TN, the 50th percentile for base salary is 85k...so their offer is fair right from this information. I'd like to know your thoughts on this offer and what I may be able to negotiate (I'm thinking countering for higher base pay, tail coverage, dental/vision coverage, and perhaps higher % 401k matching of base pay...). Thanks again!
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The good:
85K starting salary (pretty average for family med) with ability to make a bonus (seemingly rare)

+6K for tuition reimbursement

+10K signing bonus

(you're already above 100k for primary care in your first year!)

 

The bad:

The 401k matching IS a little low, so you can inquire about them perhaps increasing it to maybe 3-5%?  2.6 is an oddly specific number so it sounds like they are pretty set on that.  
Any guarantee as far as annual raises go?  Or will you not receive a raise until your contract is up after 2 years?  What happens if you break your contract?  

 

Dental and vision insurance are pretty cheap.  Don't let those be deal breakers.  

5 mile noncompete is really no big deal, although I suppose it depends on the size of the city you live/work in.  How long is the noncompete clause valid for?  1 year after you leave?  3 years?  5 years?  

 

Overall it's a very solid offer.  If you like the area and the staff I say go for it.

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One thing about the non-compete: is this 5 miles from each of the practice's clinics (assuming there is more than 1)?

 

And, a 5 mile radius is very different than a 5 mile drive in that it is much more encompassing.

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