accepting money for CRNA school

SleepyRN2B · Dec 2, 2004

WOW.... 5 years!!!! ... I would rethink that... you can get the same money plus a stipend for two - three years at a little bit out of town hospital... just my thoughts

kmchugh · Dec 2, 2004

I have a question. I was recently accepted into CRNA school and will be starting next fall. The anesthesia group in town is willing to give me $30,000 for school for a five year commitment. Do you recommend taking money from anesthesia groups?
Thanks

Five years seems more than a bit excessive to me. The usual contract term is two years. When accepted to school, I took a contract with an anesthesia group that was for a two year term. Now, I do not regret taking this contract, because the anesthesia group I worked for did a lot of anesthesia for very sick patients, and I learned a lot in a pretty short time. On the other hand, the group was small, and worked at three different hospitals as well as being the sole group to provide anesthesia coverage at a free standing heart surgery center. The down side was the fact that 60-80 hour work weeks were common. Two years of this and I was all but ready to quit doing anesthesia entirely.

I would not sign a contract for 5 years, particularly in return for only $30 Gs.

Kevin McHugh, CRNA

WFUBMC2007 · Feb 4, 2005

The hospital I work at is offering $25000 for only 2 years... I think you might be able to do better if you're willing to go towards a bigger medical center.

jrec · Feb 4, 2005

This is an interesting subject. How would one go about approaching an anesthesia group for such a contract? And how does the stipend work and why have I seen some people post that some groups offer this while others do not? Thanks.

jwk · Feb 4, 2005

This is an interesting subject. How would one go about approaching an anesthesia group for such a contract? And how does the stipend work and why have I seen some people post that some groups offer this while others do not? Thanks.

It's entirely supply and demand. Simple economics.

air · Feb 4, 2005

This is an interesting subject. How would one go about approaching an anesthesia group for such a contract? And how does the stipend work and why have I seen some people post that some groups offer this while others do not? Thanks.

It is simple, You can call the group and speak to an office manager(most groups have office managers who handle this things), they will let you in on the anesthesia head who may negotiate directly with you. You can also just take your copy of school acceptance letter and just walk up to the group. The will be happy to pass on information to you and set up an appt for a "sit down". It all depends on your confort level. Usually you get some money while in school in exchange for work time after graduation. This amount or deal might vary. I know of students who get insurance, monthly stipend and tuition paid for. Others get only insurance, monthly stipend, or tuition support, it all comes down on what that group has room for in terms of positions. Remember, all this deals have to do with market supply and demand.

I am not sure how hospitals handle this deals. I am schooling in Pa, I noticed hospitals employ more CRNA's than groups in this particular locality. I suspect that hospital deals can be slightly longer to clinche since they have to go through some red tape.

Do not take my word for it, check it out. Give us a feed back about you come encounter in your search. I never signed anything, I did search also early last year.

Good Luck

sproutsfriend · Feb 6, 2005

It's entirely supply and demand. Simple economics.

Absolutely!! In some areas of the country supply has caught up with demand.

air · Feb 6, 2005

Absolutely!! In some areas of the country supply has caught up with demand.

Now, that is bad, if supply has caught up with demand

The market just might go soft. Benefits and compensation may slow.

stklgs · Feb 6, 2005

I am currenlty a SRNA in the Midwest.. I have been told by a few recent grads that its better to wait until you graduate before accepting a bonus.. They say that some groups or hospitals will pay off school loans or a majority of your loans, if you come work for them. This works out to be more than $25-30,000 but I'm sure it does depends on the supply and demand as mentioned by some in this thread.. I understand that some need the money up front, I think we all do. I think I'll wait to graduate before accepting any bonus...

jwk · Feb 6, 2005

I am currenlty a SRNA in the Midwest.. I have been told by a few recent grads that its better to wait until you graduate before accepting a bonus.. They say that some groups or hospitals will pay off school loans or a majority of your loans, if you come work for them. This works out to be more than $25-30,000 but I'm sure it does depends on the supply and demand as mentioned by some in this thread.. I understand that some need the money up front, I think we all do. I think I'll wait to graduate before accepting any bonus...

Here's a view from the employee and employer sides:

I think the biggest downside for individuals is what if the place you get the big bonus from really sucks (or the town sucks) and you're locked into a multi-year contract? You either have to give back the money (oops, you spent it) or suck it up and deal with it. And lets say you work out your two-year (or whatever) commitment - but then you're not fully vested in your 401k plan until four years. You lose again.

And from the management side: My group offers big signing bonuses and/or tuition reimbursement. We've been lucky so far, but sooner or later we're going to give money up front to someone who turns out to be a big problem, whether from a clinical, work ethic, or even a substance-abuse standpoint. We take a risk as well.

The bonuses have their place. In competitive markets, they can make a difference in attracting new anesthetists, because so many come out of school with huge debtloads, and every employer in a tight market is looking for an edge. Just be aware there are definitely downsides.

As with any job offer anywhere, you need to look at the ENTIRE package, as well as the environment in which you'll be working in order to come to an informed decision. A sign-on bonus or tuition reimbursement may be the perfect thing for you. It may turn out to be a nightmare. In the end, only you can weigh the pros and cons.

Kate11 · Feb 6, 2005

Supply - demand? I am having a difficult time understanding how this could be true. I am a student but the majority of sites where I am doing clinicals do have positions available. Also the age's of the CRNA's seem to be somewhat varied, meaning either older perhaps ready to retire - or young just starting their families. I do live in an area that does offer several programs, yet in my particular program only approx 5 of us are locals who plan to remain in the area. I personally have not consider a stipend - I decided to wait and see what I enjoy. I hope I made a good decision!!!