Contract renewal

[perox124]

I'm up for contract renewal. Are there any suggestions what else I could negotiate except salary? Would I qualify for retention bonus as well?

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[hamstergang]

I'm up for contract renewal. Are there any suggestions what else I could negotiate except salary? Would I qualify for retention bonus as well?

Everything's negotiable, they say. But since we don't know anything about you or your job, I don't know how anyone here can give useful advise.

 

[perox124]

Everything's negotiable, they say. But since we don't know anything about you or your job, I don't know how anyone here can give useful advise.

I'm pretty content with my job and don't expect any changes with regards to job description, hours, RVUs but more interested in salary increase and additional financial benefit that I could benefit due to contract renewal. This is my first contract renewal so have very little experience. Thanks for any feedback!

 

[FlowRate]

I'm pretty content with my job and don't expect any changes with regards to job description, hours, RVUs but more interested in salary increase and additional financial benefit that I could benefit due to contract renewal. This is my first contract renewal so have very little experience. Thanks for any feedback!

Umm... You still haven't told us if this is a small single-specialty practice, large multi-specialty practice, hospital, government agency, CMHC, payor mix, current contract terms etc. etc. etc.

I don't have enough knowledge about the attending employment game to be of further assistance, but I do know that's what people mean when they say they don't know anything about your current job.

 

[Shikima]

Negotiate salary, PTO, benefits, car payment, house payment, cell phone payment, 2nd house in Tahiti, etc

 

[northernpsy]

You will be in a much greater position of strength for negotiation if you know what other places are willing to give you, so you may want to consider talking to some other employers in the area before you talk to the place you're currently with.

 

[perox124]

You will be in a much greater position of strength for negotiation if you know what other places are willing to give you, so you may want to consider talking to some other employers in the area before you talk to the place you're currently with.

Thanks to all of you. I work in large nongovernmental hospital system so some benefits like PTO, CME time/money are not negotiable I believe.
Is retention bonus equivalent to sign in bonus with regards to its value, for example around 20K?

 

[dl2dp2]

Large hospitals are hard to negotiate with. They have a large pool to draw from, and typically the salaries are a hard line (to avoid any perceived impropriety with individual based negotiation results). The best way to negotiate is to get competing offers... I would start interviewing now to get a sense.

 

[SeniorWrangler]

If you have colleagues you trust, ask them. It never hurts to ask, but the guy drawing up your contract may have zero flexibility to offer anything but more of the same.

 

[J ROD]

Generally, most things are going to be set except for compensation. Most large hospitals have to abide by the going rate so to speak in area for your perceived value. Therefore, like mentioned above, you could see about getting offers locally and use that as a bargaining position. Some places offer bonuses, loan payback, etc to get folks to sign on. More desirable practice/work does not have to do that as much.

 

[CompensationExpert]

@perox124 Everyone here is very right. Contract renewals are very important and everything can be negotiated. The real details of your situation will largely dictate what is negotiated though. In my experience, contract renewals come in 3 buckets. 1 - nothing is negotiable, 2 - some things are still negotiable, and 3 - everything is up in the air. There really are not many other options. With that being said, your situation and the organization dictate the buckets.