Which Position Should I Accept? Here are the key factors to consider:
Ask yourself these 3 questions:
1. Money aside, which position is the best clinical fit for you?
2. Money aside, which position is the best culture fit for you? (personality or mission of the group or hospital)
3. Money aside, which location/town/city is best for you?
These 3 answers are more important than salary and bonuses. Each day, you are going to feel the culture and clinical aspects of the position a lot more than you will feel a slightly higher salary.
Other factors to consider:
• RVU and bonus packages. Some RVU or bonus packages are $3-20k on top of base and some are 50-$300k on top of base salary
• Tax free state? (AK, TX, FL, NH, SD, WY, WA, TN, NV) This can save $14-50k/yr in taxes
• Is the commute shorter? If so, how much gas money and time will you save with the new route?
• Finally, be sure to consult a cost of living calculator such as the one at http://www.bestplaces.net/col/ . $200k per year in Chicago, IL can decrease to $153,116 per year in Mount Vernon, IL to maintain the same standard of living.
• What is the call schedule and is there compensation for it?
• What’s the volume of patients you will be required to see per day?
• What portion will your employer contribute to your medical insurance premium? Carefully evaluate the quality of the new medical plan.
• What percentage will your employer contribute to your retirement fund or pension? 5% of your salary?
• Does the PTO include the vacation time, sick time, holidays, extended sick bank, CME time (and money), and family leave time that you want?
• Does this position schedule you in shifts that are better for you and your family?
Biggest factors:
• Is it a better clinical fit or a setting you would rather work in? Is this a good career step? Is this a good challenge for you?
• Does this company cultivate a culture, philosophy, and stability that benefits its employees?
Often it is better to sacrifice a little money to be in a better work environment.