Help--info On Payback Penalty

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Hi All Wanted o know if anyone minded sharing and info about contracts you may have signed with hospitals/groups for financial assistance for CRNA school. SPecifically, is there a penalty if you decide to seek employment elsewhere (raking code of ethics...). I was presented a contract $50K is assistance with a $50 penalty if I decide not to work there. HELP??? I am in the process of bargaining and am meeting with the CFO next week. The most annoying thing about this is that I currently work for this hospital....THANKS, D

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denverlover -

it never hurts to pay a few bucks and let someone w/ legal training look over the contract... but little tidbits i have learned through here and signing a contract myself

1. are your sure, positive, determined to work at this facility?

2. does the contract have things in it like prohibitions of you working in the general area if you renig

3. you said the payback penalty is 50$ as in 50 dollars?? or is it the 50k that they are giving you?

4. how do they say you have to pay it back? is there interest? and is it pro-rated i.e. if you sign a 3 yr contract and work 2 yrs - do you have to pay back the full amt or just 50k/3 = 16,600k ...

i will tell you that if you aren't sure that is where you want to work - it isn't work 50k - anesthesia is a small community and word gets around... you would be better off taking personal loans out...however if you really want to work there - than just check out the details as well as you can..

also - make sure that there isn't a set salary - meaning that if new grads are paid 120k/yr now - they may be paying them 130k when you graduate - and you will screw yourself out of 10k - so make sure the contract states that the employee will be given the salary of anyone else of similar rank/status AT THE TIME OF ACTUAL START DATE... not contract date...

good luck...

andrea

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