I seeking recommendations from fellow Entrepreneurial NPs. I just graduated and am negotiating my first NP job. I didn't mention salary during my first 2 meetings, but my future collaborator/owner of practice asked me, so I responded, "what do you typically start new grads off"? His response, 90k, and we can also talk about production bonus. This was a month prior to my graduation.
A couple weeks later, he has sent over a contract without production bonus.
The field that I'm entering is considered cosmetics/derm with some urgent care, but a very small niche. I estimate my collections at around $400k per year with the schedule of their clientele, and with my background of digital marketing/sales, I could potentially double the revenue within a year.
1.) I'm definitely going to respond with a counter offer, but what have you guys/gals seen out there for slam dunk contracts?
I'm thinking... after six month training period of base salary, bonus structure would come into effect:
Assume collection target threshold = 3 X base salary ($270,000)
Annual collections between $270,000 and $450,000 = bonus of 22% of those collections
Annual collections between $450,000 and $600,000 = bonus of 30% of those collections
Annual collections exceeding $600,000 = bonus of 35% of those collections
2.) Do I ask for bonus structure to be paid out quarterly, based on my collections x 4 (to correlate for expected collections in one year)?
3.) Does anyone have a contract language that has a collection bonus that I could see?
How to Secure a Top-Notch Employment Agreement