Independent Contractor vs Employee? Which is better?

[SAIHYD]

Which of these is better for a fresh DDS graduate in Chicago?

150K or 30% of production (whichever is higher) with health insurance/malpractice insurance (if full time 40hours) as independent contractor

or

120K as employee with benefits like 401K with matching, insurance, vacation/sick pay


Discuss.

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[12YearOldKid]

Which job are you going to learn the most? That would be my biggest concern because these both sound like good offers. If it just comes down to money I would choose the first. You are going to owe an additional ~$11,000 in tax as an IC, but you will also be earning more. Plus, you have the opportunity to increase above the minimum guarantee.

 

[Jone]

that's the going rate in Chicago? i'm impressed. i always thought of Chicago as already being oversaturated with dentists.

Which of these is better for a fresh DDS graduate in Chicago?

150K or 30% of production (whichever is higher) with health insurance/malpractice insurance (if full time 40hours) as independent contractor

or

120K as employee with benefits like 401K with matching, insurance, vacation/sick pay


Discuss.

 

[DrJeff]

If you're a true IC, then you're also responsible for your overhead expenses (i.e. your materials, lab fees, etc). Over the course of a year, that will add up.