Four Year Contract

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So I'm graduating December 2016 and all summer I've worked as a PCT/Tech/CNA at a hospital in Savannah, GA (Memorial). Anyway, I like my job for the most part. It's float pool but my supervisor lets me preassign to units (if the unit likes you enough). Basically, I found a unit I really, really like. Almost love. Memorial offers a residency program for new grad RNs and since I'm a PCT, I automatically get an interview. But with the residency program comes a 4 year contract. If I break it I have to pay $8k. I've spoken to a couple other nurses that are/were in the program and some that were not. A lot of the negative comments I get is that they don't pay enough (I was told they pay $22 base pay) and I shouldn't settle as a new grad RN. What do you guys think? Is really bad to settle as a new grad? Or does it look better on your resume that you've been in a trauma 1 hospital for 4 years? Your honest opinion and any advice is most appreciated!! :)

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Specializes in Critical Care.

It couldn't hurt to interview, right?

Just do your due diligence and find out the details of the contract position and how it stacks up with other hospitals in the area. What will your starting rate be? What does the residency program entail as far as training, extra classes on top of your shifts, etc? How does this compare to your other options?

If the pay and benefits are comparable, the residency training is thorough, and it's for a position on a unit you already know you like then why not? That doesn't seem like "settling," it seems like a pretty good score for a new RN fresh out of school :)

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I've been at a trauma 1 hospital hired as a new grad and my base is jus over $28 and that's without differentials which are about 30%. You can do better. I think you'll grow to resent the contract.

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Thanks so much everyone! I think doing the interview and having them under my belt wouldn't hurt! But I will explore my options because I believe I could get paid a little bit more at the hospital next to Memorial and just sign a year contract. However I think the pay range for where I live in southeast GA seems to be $21-23. $28 for a new grad RN seems high for where I live currently. But I'm not too sure of course! I'm preparing myself for many interviews in many different areas! It seems like that is the best option! Thanks again! :)

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Specializes in Educator.

Four year contract seems a bit too long to commit to anything as a new grad. Cast your net out and see what's out there. I think you can do better without the yoke of a 4 year contract.

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Specializes in CCU, SICU, CVSICU, Precepting & Teaching.
I've been at a trauma 1 hospital hired as a new grad and my base is jus over $28 and that's without differentials which are about 30%. You can do better. I think you'll grow to resent the contract.

Are you in the same area as the OP?

I think that if the salary is within spitting distance of the local norm and she already knows she loves the unit, it sounds like a win/win. Yes, she may grow to resent the contract, but then again if this is where she wants to be and the only way to get there, it's probably worth it. Four years really isn't that long. Not when you look back at it, anyway.

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If anyone wanted an update I chose to not go with this hospital that wanted me to sign a 4 year contract. I thought very hard about it but I realized I could not bring myself to sign a 4 year contract. Partly because I had an interview at another hospital and the manager and I just clicked so well. The other part is a little bit more personal and probably hard for everyone to understand. I don't think I could live in southeast GA any longer much less 4 more years. I think my time here is up and I need to move to a more diverse area. I want to move back to the Atlanta metro area where I grew up and people are nicer and more open. Then eventually back to California where I was born and most of my family is (although the job market for RNs there is terrible I hear). So as you can tell, in the next 4-6 years I won't be in one place. So anyway, I accepted a job offer on the Medical Oncology unit (future goal is to become chemo certified :cat: ) at St. Joseph's/Candler Hospital!! Which did include a contract but only 1 year plus a sign on bonus! Thank you everyone for your advice so much! This comment became a justification to my reasons and I'm sorry if ya'll could careless haha!! Next stop NCLEX-RN!

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