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New Grad Psyc Offer


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I received an offer from the place where I did my behavioral health rotation. The position will be a mix of inpatient and outpatient. M-F, no call, no weekends. 6 months of training/mentoring (no training salary though). Southeast, low COL. would like advice on whether or not this is a solid offer for a new grad!

-3 year contract

-$99,000 base all 3 years

-$5,000 sign on bonus 

-$5,000 loan repayment every year 

-$5,000 each year in bonus/incentives for attending meetings/trainings held at the office 

-24 days PTO each year

-$2500 CME yearly with 5 days 

-full health benefits with dental and vision 

-retirement savings plan with up to 4% of salary company contribution 

-100% 403b match up to 3% 

-licensing fees covered 

-malpractice covered 

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Not really a good offer in my opinion. I live in the lower mid west, very low COL, and psych jobs around here starting at 120K to 140K for new grads. I would NOT sign a contract for ANY job for 3 years. Yearly is the way to go. The bonus is tax so you will get ~2/3 of that so ~$3400.   

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Is this a hospital or an outpatient group practice with inpatient rounding responsibilities? Private practices are more willing to negotiate and have more flexibility. Usually hospital systems have standardized pay scales. For a private practice its not acceptable in the long run maybe for the first year because of the training. I would agree that averages are closer to 130-140 with even a little experience. For an employed hospital position it might be more in line with standard. Midwest start new grads at 115k then increase to 125k with a good rvu bonus the next year with great benefits. 

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