Job Dilemma

[nodesofranvier]

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First time poster but a long time follower. I was hoping to get some input regarding my situation.

I am currently working in a PP group. It is a 2 yr partnership track and I am a little under a year in. Things have been great. I enjoy everything about the practice and group.

The other day I was randomly contacted by an older, former co resident of mine. He is in a different PP group in the same area. He was asking if I was looking for a job since his group is hiring. This PP group is the same size as ours, serves a slightly better pay mix, and is part of a bigger hospital system with more $$$ (they recently built a second hospital and are increasing their services). The partnership track is 3 yrs with this group and I would potentially earn 10-15% more. Location is the same and would not require moving.

I feel like money aside, in the PP world, it seems like most people are concerned with the long term safety of their group within the hospital system. There is no crystal ball and in no way is my current group in a sinking ship, but I can't help but think that things may be better long term with the other group.

What would you do in this situation? Another thing weighing on me is that I know members from both groups know and talk to each other...anesthesia is a small world and I would hate to burn any bridges...appreciate any input!

 

[anbuitachi]

First time poster but a long time follower. I was hoping to get some input regarding my situation.

I am currently working in a PP group. It is a 2 yr partnership track and I am a little under a year in. Things have been great. I enjoy everything about the practice and group.

The other day I was randomly contacted by an older, former co resident of mine. He is in a different PP group in the same area. He was asking if I was looking for a job since his group is hiring. This PP group is the same size as ours, serves a slightly better pay mix, and is part of a bigger hospital system with more $$$ (they recently built a second hospital and are increasing their services). The partnership track is 3 yrs with this group and I would potentially earn 10-15% more. Location is the same and would not require moving.

I feel like money aside, in the PP world, it seems like most people are concerned with the long term safety of their group within the hospital system. There is no crystal ball and in no way is my current group in a sinking ship, but I can't help but think that things may be better long term with the other group.

What would you do in this situation? Another thing weighing on me is that I know members from both groups know and talk to each other...anesthesia is a small world and I would hate to burn any bridges...appreciate any input!

got any more details? salary, benefits, total compensation value. vacation. hours worked.
You say 10% more salary, are we talking about like 700k vs 770k?? and how much is salary before partner?

 

[NICMAN]

It seems like a straightforward swap if all other considerations are equivalent. These factors can change over the years quite rapidly with the retirement of a surgeon or a bad business decision by the hospitals.

Is it possible the practices might merge in the next few years? This is another consideration.

 

[deleted126335]

From a purely financial standpoint, forget the year that you have already invested. It is a sunk cost. If today you were not affiliated with either group, would you take a one year partnership track with your current group vs a three year partnership track with the other group.

Intangibles: You have sent time and effort learning the local customs, practices, proving yourself to the staff of your current gig, learning who you could trust, etc. That will take some time to reorient.
Other intangibles Chemistry between you and the current group vs the group under consideration?

Suggestion: Give plenty of thought to the intangibles. See if throe financially lucrative the practice, the more desirable a takeover target.ey will knock six months off the partnership track since you are a known and presumably proven entity in the community as opposed to an unknown. BTW, the more financially successful the practice, the more attractive as an acquisition target.

 

[vector2]

You enjoy everything about your practice and your group and you want to leave even though it's 1 yr vs 3 yrs opportunity cost? The grass is always greener- stay at your current gig and make partner. Even if you end up making slightly more at the better paying gig it would take awhile to catch up with the 2 yrs of partner salary you're going to get if you stay.

 

[deleted87051]

Things have been great. I enjoy everything about the practice and group.

There’s your answer but talk to the other group and get more information about their practice. Also ask your surgeons and nurses about them. At least some of them will have valuable input.

 

[dchz]

If they really wanted you they'd make you 1 year to partner.

Otherwise it's in no way worth it to you.

 

[nodesofranvier]

Appreciate the comments and insight! I fixate on the long term viability of PP and was thinking bigger might be better. But as someone pointed out, the more lucrative the group, the bigger the target...I was and am leaning towards staying put. I've been having a hard time asking anyone in the area since I feel like everyone knows someone and I would hate for word to get out that I'm looking elsewhere or even entertaining the idea. I feel like what is said in the OR does not stay in the OR...at least when it comes to gossip

 

[Laradd]

As mentioned above I think we need more details: salary, benefits, total compensation value. vacation. hours worked.

However all other things being equal, i think the decision is obvious.

 

[Robotic Wis-Hipple]

You’re considering leaving a group that you like, where you’re 1 year from partner salary, for a 10% increase in pay an additional 2yrs down the road? For an unknown? In the same area?

This is crazy. If you leave group A to go to group B in the same city you’re never getting another job in the area with a decent group if you don’t like group B. And, that 10-15% increase is both not guaranteed forever and even if it is never going to make up for the two years of lost partner salary imo.

 

[kmurp]

Do either of the groups have surgery centers that they serve? Outpatient surgery is important. Also, which hospital system has the best surgeons? Better surgeons and a better referral network drive future business. Lastly, you mentioned payor mix. What is your evaluation of the future pay or mix in your group? Is your hospital on its way to becoming one that mostly serves the “underserved”?

 

[GA8314]

I was in a similar position a couple years ago. I am very glad I stayed the course at my current gig.

I strongly encourage you to stay put given the info you have provided. That was the very best thing I have done in my own situation.

 

[GA8314]

Appreciate the comments and insight! I fixate on the long term viability of PP and was thinking bigger might be better. But as someone pointed out, the more lucrative the group, the bigger the target...I was and am leaning towards staying put. I've been having a hard time asking anyone in the area since I feel like everyone knows someone and I would hate for word to get out that I'm looking elsewhere or even entertaining the idea. I feel like what is said in the OR does not stay in the OR...at least when it comes to gossip

You are very close to having a bird in the hand. You can't base your decisions on "what ifs". Get that partnership and don't look back. You are not burning any bridges with the other group. Like I said, I had a very similar scenario present itself when I was both 1 year to partner and also when I had just become partner. I am very thankful to have stayed the course. At some point it's good not to chase carrots anymore.

 

[GassmanMD]

I was in a similar position a couple years ago. I am very glad I stayed the course at my current gig.

I strongly encourage you to stay put given the info you have provided. That was the very best thing I have done in my own situation.

I echo this sentiment. I stayed the course when my similar situation arose and I'm grateful I did.

You can't predict the future, and you will regret it more if you leave and it turns out to have been the wrong decision. You can be wrong about staying too, but the feelings of regret won't sting as bad.

 

[deleted50478]

I was in a similar position a couple years ago. I am very glad I stayed the course at my current gig.

I strongly encourage you to stay put given the info you have provided. That was the very best thing I have done in my own situation.

I agree with this and would add, consider a 5-10 year horizon when making these decisions. In 5 years you current gig is definitely better. In 10 it is still probably much better. If you start thinking about money difference over 25 years, switching will seem much better but too much can change in 25 years for you to put too much weight on the 25 year difference.
Also, if you invest your extra income that you make in the next 3 years by staying put instead of moving, it pushes your break-even point between the jobs even further into the future.
This is all assuming that partnership-track pay is a lot less than partner pay.