Benefits Package

core0 · Jun 10, 2009

What do you think of this...
Vacation-3 weeks after 1 year (none the first year)

You should have some the first year. 2 weeks is minimum the first year then three is OK.

I am responsible for paying malpractice ins., licensing/certification fees, DEA#, membership fees, lab coats, etc.

This is very bad. There is no real occurrence insurance anymore so your malpractice will go up every year. This should always be a practice expense. They should also pay for the other things that you need to do your job. This includes license and certifications necessary for practice. Lab coats should be paid for by the practice also.

After 1 year, up to 3 days and $1,000 CME

Pretty light. The standard seems to be 5 days $1500 which doesn't go far anymore.

6 paid holidays, 3 floating holidays

Pretty much the norm.

No contribution for dental ins or life ins., only medical is partially paid

Most PP doesn't pay for dental or life. Medical partial is becoming standard. Depends on the cost and the quality of the insurance.

401k is 1% employer match then additional 5% of salary at the end of the year if practice profits allow
Bonus is 3-6% of annual salary if I see the required number of patients. MD/practice mgr. determine the percent based on how much $ you generated and general ability to work well with others, etc.
It is significantly less than I get as an RN so I was just wondering how it compares to the average NP benefits package.

401k is OK. Bonus is pretty shaky and open to manipulation.

Overall this verges on awful. At a minimum they should pay for things that benefit them. License etc. Tell them to try again.

David Carpenter, PA-C

Trauma Columnist · Jun 10, 2009

Totally agree with David. For you to pay for your malpractice insurance is ludicrous!

Sheri FNP-C · Jun 10, 2009

Thank you for the feedback. Unfortunately, this is already an improvement from the first offer and I believe that it is no longer negotiable. So I am back in the same situation I have been in for a couple months, settle or don't practice as an NP yet. Crazy!!!!!

core0 · Jun 10, 2009

Thank you for the feedback. Unfortunately, this is already an improvement from the first offer and I believe that it is no longer negotiable. So I am back in the same situation I have been in for a couple months, settle or don't practice as an NP yet. Crazy!!!!!

It might be worthwhile to take crappy benefits to get a job, but for me the malpractice would be a drop dead issue. Its going to increase every year and you will have to pay a tail when you leave when you are least likely to afford it. Sometimes you have to take a crappy job to get in the field. But the malpractice would be non-negoitable to me.

David Carpenter, PA-C

VivaRN · Jun 11, 2009

Agreed about the malpractice - that will eat so much $$. And no vacation for a year, that is definitely abnormal where I am.

If this is their 2nd try I shudder to think about the 1st. Who are they looking to attract, I wonder? Very odd.

Sheri FNP-C · Jun 11, 2009

They are very, very sweet people. It is a small private practice. Wife is MD, husband practice manager. They don't expect much, ie. goal is 11-16 patients a day (internal medicine) no new patients, no physicals, only interval follow ups and sick visits. No call, no hospital rounding, no expectation to check labs from home in the evening. They claim to be very accommodating/family oriented and willing have you come in late/leave early so you don't miss kids school events (but you have to use vaca which I won't have). They have staff that has been there for years. They seem to make up for the lacking benefits/salary in kindness, but I really don't know if it is enough.

32 hours a week....50k plus bonus and out of that I would have to pay over $1,000 in malpractice ins., $1,000 for medical with a high deductible, plus all the other stuff that I think should be covered. I am really having a hard time with this. I turned down an offer making 65k with 4week vaca and all around better benefits b/c the doctor is evil. I know $$$ isn't everything, but that will be the main reason I will be working! Are there jobs that balance good working conditions with appropriate salary/benefits????? I am really beginning to wonder.

Trauma Columnist · Jun 11, 2009

Another option: take this job (especially if you are in a tight market) then keep looking. Personally, I have found it easier to get a new job if I'm already employed

core0 · Jun 11, 2009

Another option: take this job (especially if you are in a tight market) then keep looking. Personally, I have found it easier to get a new job if I'm already employed

Unless the practice is doing something illegal, the first job should be at least two years (in my opinion). One of the things that we look at is job hopping. You want to hire someone who is going to stay. Someone who is looking for a new job after being at their current job for months or weeks doesn't qualify in that respect. I would agree that having a job and some experience will make you more marketable but the thing that makes someone marketable is the experience in my opinion. This is key early in the career.

50k + bonus may be acceptable if thats what it takes to break into the market. Again the malpractice is the deal breaker for me. If that one point could be negotiated then maybe the OP could consider this.

David Carpenter, PA-C

Trauma Columnist · Jun 11, 2009

I respectfully disagree David: when a market is tight, many mid-levels have to take what's available and then move when another job opens up. I am still in my first job as a mid-level (graduated May 06). However, I did look for another job when I had been there 18 months and was actually hired but changed my mind at the very last minute. However, I have had other job offers without even applying.

allnurses Guide · Jun 11, 2009

Sheri,

I have to agree with the others. I think this is a pretty bad deal. I recently completed a job search as a new FNP and every practice I spoke with covered malpractice insurance, DEA number, state license, and gave at least 2 weeks vacation the first year, not to mention signficantly higher salaries. Is this the norm for your area?

I understand wanting to work ASAP, but maybe it's worth looking a little more, if you can.

Sheri FNP-C · Jun 11, 2009

I agree that it is a bad deal. I just wonder if it is worth it to get a couple years experience with a seemingly nice practice. If, after a couple years, the pay/benefits remain horrible then I can certainly look at making a change. Though they do require a non-compete which just complicates matters. I know that I have high standards and since this place meets most of them, I am afraid of turning down this opportunity only to wish I had taken it a couple months from now when nothing else has popped up.

I looked at the state licensing website and was surprised that in my county there are about 6,000 RNs and 1500 of them are also NPs. Wow...1 out of 4. Supply > Demand.

The pay is about right for my area, it is really the benefits that are horrible. The other offers that I turned down did pay for everything with a comparable salary, but they all had other issues.

It is great to hear all this advice and opinions. Thanks so much!!!!