New grad Derm offer ( For a Friend)

[Shanny]

Hi guys,

This offer is for a 1 year residency program in Dermatology with a 3 year commitment, totalling 4 years. Please dissect!

 

Salary 50k 1st year, 100k 2nd, 3rd year 110, 4th year 130.

Bonus-(none) 1st year, (20% per quarter after 125k net )2nd, (20% after 137k net) 3rd year, ( 20% after 156k net

Vacation: 3weeks PTO and sick time ,

               2 days CME

CME: 2,000

Leaving before the 2nd year pay back 50k.

Malpractice 100% Occurence

Medical: 55% coverage

non-compete 4 miles to each office for 12 months.

Hours 33-36 hrs per week.

 

 

 

 

 

 

[AbeTheBabe]

It's not a residency program, they are just trying to pay half a normal salary for a year. I know dermatology is hard to get into, but a 4 year commitment for a new grad is not advisable. Is there adequate training? What is the penalty for leaving earlier than 4 years besides the non-compete?

[anewconvert]

On 7/12/2017 at 9:15 PM, Shanny said:

Hi guys,

This offer is for a 1 year residency program in Dermatology with a 3 year commitment, totalling 4 years. Please dissect!

 

Salary 50k 1st year, 100k 2nd, 3rd year 110, 4th year 130.

Bonus-(none) 1st year, (20% per quarter after 125k net )2nd, (20% after 137k net) 3rd year, ( 20% after 156k net

Vacation: 3weeks PTO and sick time ,

               2 days CME

CME: 2,000

Leaving before the 2nd year pay back 50k.

Malpractice 100% Occurence

Medical: 55% coverage

non-compete 4 miles to each office for 12 months.

Hours 33-36 hrs per week.

 

 

There is absolutely nothing about that offer that is a good idea. 

 

Its not a residency first off. 

 

The bonus structure doesn't cut you in until you make the quarterly equivalent of $500k for the practice... and it only gets worse as you gain experience??