Compensation Questions Compensation Questions | allnurses

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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. 10 Comments

  3. Visit  traumaRUs profile page
    #1 0
    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
    #2 0
    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
    #3 0
    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
    #4 0
    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
    #5 0
    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
    #6 0
    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
    #7 1
    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.
  10. Visit  texasfnp profile page
    #8 2
    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.
  11. Visit  mammac5 profile page
    #9 3
    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.
  12. Visit  RNGO4IT profile page
    #10 0
    Congrads your dogged persistence really paid off