PhD/PsyD Help Negotiating My First Contract/Salary

[InYourHead]

I am about the wrap up fellowship and am currently in the job application process. This is actually my first "real job" in my life, as up until now I've been in grad school, internship, post-doc, etc. So needless to say, this is all new to me.

I recently got an offer from a place I would love to work, though the salary is a bit low (Place #1). There is one other place I think I may get an offer, and I am waiting to hear back from them, hopefully tomorrow (Place #2).

My question is, how do I proceed? Obviously if I do receive an offer from Place #2, I'll bring that salary back to Place #1 and see if they can at least match it. But if I don't get an offer from Place #2, how do I go about negotiations for Place #1? What strategies do I use, things to say, etc.

Like I said, this is all new to me so any advice would be helpful and much appreciated it. If you need additional information please let me know!

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[Pragma]

You ask for more money. Use data if there is any to support your cause (public salary databases, etc.)

 

[PsyDr]

1) ask for the productivity requirements
2) look up thee relevant CPT codes (isn't hard to google)
3) google your state's CMS carrier
4) There is a fee schedule tool on their site which will tell you how much Medicare pays for that CPT code
5) multiply their productivity by that rate.
6) subtract around 35% for overhead.
7) Now you have a decent estimate of how much they will earn off you, less your salary and benefits. Maybe they are making a ton, maybe they are making very little.
8) Using that number, you can ask for more money, earlier vesting, more 401k matching percentages, etc. If they are not making much off of you, you can ask for non-monetary things like extra vacation, flexible schedules, etc.
9) besides the money you are bringing in, it behooves you to consider the non-monetary things you bring to the table as well, or can offer. Maybe you are willing to market for the place. Maybe whatever.
10) Perform an brutally honest SWOT analysis. If you have a relaxed work pace, then know this about yourself. If you have a talent at X, know that. Do not explain these things to an interviewer.

 

[biscuitsbiscuits]

1) ask for the productivity requirements
2) look up thee relevant CPT codes (isn't hard to google)
3) google your state's CMS carrier
4) There is a fee schedule tool on their site which will tell you how much Medicare pays for that CPT code
5) multiply their productivity by that rate.
6) subtract around 35% for overhead.
7) Now you have a decent estimate of how much they will earn off you, less your salary and benefits. Maybe they are making a ton, maybe they are making very little.
8) Using that number, you can ask for more money, earlier vesting, more 401k matching percentages, etc. If they are not making much off of you, you can ask for non-monetary things like extra vacation, flexible schedules, etc.
9) besides the money you are bringing in, it behooves you to consider the non-monetary things you bring to the table as well, or can offer. Maybe you are willing to market for the place. Maybe whatever.
10) Perform an brutally honest SWOT analysis. If you have a relaxed work pace, then know this about yourself. If you have a talent at X, know that. Do not explain these things to an interviewer.

You and your SWOT! Your house is definitely booby-trapped with corporate resources. 😉



(really, though, I love your numbered lists. truth.)