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Independent Contractor vs Employee? Which is better?

Discussion in 'Dental' started by SAIHYD, May 8, 2007.

  1. SAIHYD

    SAIHYD New Member

    5
    0
    Jun 25, 2004
    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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  3. 12YearOldKid

    12YearOldKid 5+ Year Member

    775
    3
    Oct 31, 2004
    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.
     
  4. Jone

    Jone Senior Member 7+ Year Member

    441
    0
    Mar 13, 2003
    florida
    that's the going rate in Chicago? i'm impressed. i always thought of Chicago as already being oversaturated with dentists.


     
  5. DrJeff

    DrJeff Senior Member Moderator Emeritus 10+ Year Member

    2,785
    298
    Nov 30, 2000
    Brooklyn, ct
    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.
     

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