Published Dec 3, 2013
APN Under Construction
45 Posts
Hi everyone,
I recently graduated from Family Nurse Practitioner school and just got my licence to practice. I am having a problem choosing between two offers in Houston, TX. Retail Clinic in Pharmacy offered me $50/hr (Minute Clinic) and I met a really awesome doctor who is offering Annual of $90,000 with some benefits, with 3 weeks paid vacation.
As a new grad, I am kind of wary about starting my first job at the retail pharmacy clinic. The good thing about this offer is it a full time employee position (W-2), with many benefits. The problem is that the hours of operation (extending till 7.30 to 8 pm in evening) does not sit very well for a single mother with a toddler to be picked up from daycare. But work days are 4 days a week.
The internal med position sounds to be a good position, but I was told it is Independent contract position (No W-2). Hours of work are very compatible with baby in daycare, as i can work Monday to Friday 8-5 or 9-6 or however I want to work. The office seems very supportive and the the MD very nice. I have known him for a while. I am not very familiar with Independent contractors and I was wondering how this works, especially with me having to do my own taxes?
1. Anyone knowledgeable with 1099 tax form to help me figure what annual of $90,000 on 1099 compares to $50/hr (roughly 36-37 hrs a week) on W2?
2. What do you all think about working in Retail pharmacy clinic vs Internal Medicine, especially for new grad?
Your prompt response is highly appreciated.
BlueDevil,DNP, DNP, RN
1,158 Posts
I wouldn't work in a minute clinic unless my kids were starving and losing weight, so I'm biased. I only know one person who did and she didn't last long. She hated it. She said it was demeaning. She had to practice "cook book medicine," was not allowed to make any clinical judgements, and disliked the cashiering responsibilities.
The IC option is easy peasy. You hire a tax accountant, give every thing to him/her and let them handle it quarterly.
Thank you so much for your response. I had the same feeling but I thought id sought second opinion from others. The money seems to be more at Minute Clinic and I was just trying to see if others think it's worth. I was told about strict protocol adherence. Any decision making out of the protocols is regarded as practicing medicine without a license. I really appreciate the input.
TraceyMarino
69 Posts
I agree with Blue Devil, who has tons of experience. I have never worked at a Minute clinic, but the protocol driven style would make me crazy.
I worked urgent care and family practice since graduating last December. I will be taking a new position as a hospitalist this January. I got very bored with FP and urgent care.
If you have the opportunity to work with a "cool" doc, in private practice, you have the chance to learn a lot! Internal medicine/private practice experience will go a lot farther on your resume in the future than a job at Minute Clinic.
Find someone to help you with your tax issue and take the job in IM. You will be better for it in the long run!
BostonRN13
184 Posts
I'd go with the IP.. If the practice seems willing to train a new grad then that's a great opportunity for you and you will see so much more than the retail clinic. You may get bored at the Minute Clinic too and like others have said there's not any thinking outside of the box, you're following their strict protocols.
Also about salary.. 50$/hr at 36-37 hours equates to about 85k a year so you'd actually be making more at your IP offer.. Hope that helps?
Hi Thirteen girl... I was under the impression that as independent contractor filing form 1099 you pay more taxes? Also, I'm somehow a lil accounting challenged. $50/hr x 36 hrs x 52 weeks per year comes to almost $93,600 annual... Or is my math wrong? Since this is w2 position, isn't it more than 90k annual as independent contractor on 1099?
carachel2
1,116 Posts
I just keep thinking about your single mom status. Trust me, 9-5 in FP or IM is more like 9-6 or 7. When will your last patient be booked? You don't just walk out the door with your last patient...you have labs to review, charting to finish, refills to do. Is there any way you can negotiate a four day week? If you could do that in IM then definitely that is a great opportunity.
Minute Clinic would be a better more flexible job as a working single mom. Summers will come up real quick..even though she is in daycare now she will start school in no time and you will want a way to be flexible in the summer.
Hi Thirteen girl... I was under the impression that as independent contractor filing form 1099 you pay more taxes? Also I'm somehow a lil accounting challenged. $50/hr x 36 hrs x 52 weeks per year comes to almost $93,600 annual... Or is my math wrong? Since this is w2 position, isn't it more than 90k annual as independent contractor on 1099?[/quote']No I think My math is wrong ! 93k sounds right. And I'm sorry I don't know specifically about your indep contractor question ..
No I think My math is wrong ! 93k sounds right. And I'm sorry I don't know specifically about your indep contractor question ..
Thirteengirl,
Thank you for your intent to help out in this dilemma and taking time to comment.
Thanks Carachel for your response. Your input is very welcome. Minute Clinic has the better offer in terms of pay and benefits. However, I am finding the hours to be a little harsh on me as single mom with no other family. For one, closing time is 7.30, which means that I won't be able to leave until at least 8.15 or even 8.30. pm. The problem that I'm experiencing is that all daycares in our area close at 6.30 pm or ealier. I have had to ask neighbors if they can pick baby up from daycare for me but no one seems to be available and willing.
His dad can help pick him up in daycare, but him doing it 4/7 days a week plus be with him 1st, 3rd and 5th weekends makes him more of primary custodial parent parent than myself. (had nasty custody fight and he will use any excuse to snatch primary custody from me).
So Minute clinic hours are not quite compatible with the situation. But their money and benefits are good. Downside of IM clinic is pay is lower, less benefits. I negotiated the base pay and they gave me and extra 5K, meaning starting salary is $95 as independent contractor (1099), with basic benefits eg insurance, 3 weeks vacation. I also get bonus at end of year based on productivity. Pay is negotiable after 1 year, based on productivity. But MD is willing to train, is very flexible. Will allow me to round at hospital, or at LTAC and nursing home, where she is Medical Director, if I prefer that to office work. Told me she is pro babies, and that I will not have to be in clinic beyond 6.00 pm.
core0
1,831 Posts
Thanks Carachel for your response. Your input is very welcome. Minute Clinic has the better offer in terms of pay and benefits. However, I am finding the hours to be a little harsh on me as single mom with no other family. For one, closing time is 7.30, which means that I won't be able to leave until at least 8.15 or even 8.30. pm. The problem that I'm experiencing is that all daycares in our area close at 6.30 pm or ealier. I have had to ask neighbors if they can pick baby up from daycare for me but no one seems to be available and willing. His dad can help pick him up in daycare, but him doing it 4/7 days a week plus be with him 1st, 3rd and 5th weekends makes him more of primary custodial parent parent than myself. (had nasty custody fight and he will use any excuse to snatch primary custody from me). So Minute clinic hours are not quite compatible with the situation. But their money and benefits are good. Downside of IM clinic is pay is lower, less benefits. I negotiated the base pay and they gave me and extra 5K, meaning starting salary is $95 as independent contractor (1099), with basic benefits eg insurance, 3 weeks vacation. I also get bonus at end of year based on productivity. Pay is negotiable after 1 year, based on productivity. But MD is willing to train, is very flexible. Will allow me to round at hospital, or at LTAC and nursing home, where she is Medical Director, if I prefer that to office work. Told me she is pro babies, and that I will not have to be in clinic beyond 6.00 pm.
I'm a little confused. A 1099 is an independent contractor. The employer pays you a salary, but generally you are responsible for your own benefits and taxes. I'm not an expert but how does a 1099 get benefits or vacation? It sounds like you are not really a 1099 and they are just using 1099 to get around paying payroll taxes on you (you have to pay the employer tax percentage of 7.65% also).
Hi Core0,
After reading your post I had to look at the paper again. You couldn't be more right. I looked at the list of benefits and yes; it states "health, dental and visual coverage available, medical malpractice, CMEs worth 1K, productivity bonus an, paid holidays and vacation." All this as an independet contractor. This sounds more like a full time position with benefits on W-2, until I read where it talks about "base salary of $90K - paid monthly as contract employee." This base was negotiated to 95K. I asked for 100K, was offered 95. Haven't agreed to 95K but I said I'll think about it.
I don't know whether to be happy or upset. Upset because I would basically be a w-2 employee being made to sign 1099 and be responsible for taxes that come with 1099 (which I don't know by how much more?) Or should I be happy because this is a job that gives me the independence to work out my schedule the way I want (well that's the freedom that comes with independent contractor right?), with the 'added benefit of getting the benefits that I wouldn't otherwise be getting as independent contractor smh?
No one taught us how to negotiate in NP school. All opinions welcome. No opinion is bad or unwelcome. Lets talk about this.