Compensation Questions | allnurses

Compensation Questions

  1. 0 I know, it's about a LOT more than the money. Having never negotiated a contract before, I want to know what the more experienced NPs here think.

    Two weeks of vacation
    One week for CME
    $1500 for CME annually
    Profit-sharing quarterly bonus IF I meet billing goals (not likely to happen the first year or two I'm working)
    No health/dental/short-term or long-term disability; no life insurance
    Paid malpractice insurance
    No non-compete
    No call

    Opinions? Thoughts?
  2. Visit  mammac5 profile page

    About mammac5

    Joined Nov '09; Posts: 733; Likes: 456.

    10 Comments so far...

  3. Visit  traumaRUs profile page
    Hmm - most practices in my area, central IL, pay for the NPs health, dental insurance premiums (100%). Disability can be had easily and cheaply enough.

    I started out with $1500/yr/CME 5 years ago but the price of conferences has really gone thru the roof - I would ask for $2000/yr.

    Paid malpractice just means you are added to your practice's policy. I would still opt for individual coverage that you pay for. If you get sued, the practice's policy WILL cover the incident. However, if a settlement is paid on your behalf (whether guilty or innocent), it IS reported to the BON and BON hearings/defense is NOT covered by your practice's policy. Word to the wise
  4. Visit  mammac5 profile page
    Thanks. The malpractice is on the doc's policy so I would need my own, as well as "tail coverage" if/when I leave there.

    I'm trying to get an idea of whether this offer is sufficient to pursue further negotiations on the salary.
  5. Visit  79Tango profile page
    What kind of salary are they offering? Have you thought about negotiating as an independent contractor or as 1099 status?
  6. Visit  linearthinker profile page
    Do you know what is the norm for your area? I ask because that is hella better than anything around here, with salaries in the 60s. I'd be thrilled with a contract like that, but in some other areas it would be terrible, lol. I think you need to know the market. Better yet, have an attorney who knows the market!
  7. Visit  mammac5 profile page
    It's a small town and nobody's talking about these things! The salary was a very low-ball offer and I'm sure he realizes we have lots of negotiating to do there. Frankly I didn't want to waste his and my time negotiating if the rest of what was offered was crap.

    It's my first offer but - small town - I would like to see where it goes.
  8. Visit  globalRN profile page
    I thought health and dental benefits are usually pretty standard
    what about 3 wks vacation? paid stat holidays?
    how bout registration certification costs?
  9. Visit  mammac5 profile page
    What is "standard" goes out the window if you're talking about a one- or two-physician practice. Small businesses just can't always offer what bigger organizations can.

    This particular offer did not include paid holidays or any $$$ toward recert/licensure fees. Altogether a weak offer, I thought, and no room for negotiation. Now that I've passed ANCC (and taken a well-deserved vacation!) I'm looking at other possibilities.
    RNGO4IT likes this.
  10. Visit  texasfnp profile page
    If it is a tough job market, I would take it and stay about a year. After that, it will be a lot easier to move on. If the job market is more friendly in your area, I would not take it. No health insurance is unacceptable, and as a newbie it is very hard to make the goals to earn any profit-sharing. The doc needs to add you to his malpractice policy at his expense.
    So, if there are no other options, I would take it for the experience only. Otherwise, keep looking.
    RNGO4IT and tryingtohaveitall like this.
  11. Visit  mammac5 profile page
    UPDATE: Have since had some good activity on the job-hunt front. Had a wonderful offer for a job I could only have dreamed of and accepted that one after a bit of salary negotiation. Very excited to get started in a few weeks.
    RNGO4IT, CCRNDiva, and traumaRUs like this.
  12. Visit  RNGO4IT profile page
    Congrads your dogged persistence really paid off