Just signed a contract!!

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EP to FP

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I finally have a job. Well, I've had lots of jobs so I guess I should say I finally have a job that I've been working toward for many many years. Going over contracts was difficult as I was so anal and had to read over it a million times and change it about 5 times. But in the end I'm happy with my job and can't wait to start.

BTW, didn't use a fountain pen to sign... but I wanted to ;) .

Can't believe you moved my thread Kent :D .

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Congratulations on the new job! Where will you be working, Ohio?

As for the pen thread, it's still alive and well, and the link from here to the other forum is permanent. Hopefully it'll get even more traffic in the off-topic forum than it did here.
 
It's in Findlay, Ohio, a small town (around 40k) about 40 minutes south of Toledo. Myself and another family physician whose been in practice for about 7 years are helping to start up a brand new practice. It's an employed position with the hospital with the option to take the practice private at any time. My goal is to take it private after two years (giving me some time to learn a little more about the business side of medicine). I was able to help design the office (which is almost finished), decide on equipment, etc. It's been a lot of fun so far. The practice was created because no other family physicians or internists in town were taking new patients, so hopefully I'll build up quick.

Dean
 
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It's in Findlay, Ohio, a small town (around 40k) about 40 minutes south of Toledo.

I know Findlay...I lived in Lima for a couple of years (middle school).

Sounds like a great opportunity. :)
 
I finally have a job. Well, I've had lots of jobs so I guess I should say I finally have a job that I've been working toward for many many years. Going over contracts was difficult as I was so anal and had to read over it a million times and change it about 5 times. But in the end I'm happy with my job and can't wait to start.

BTW, didn't use a fountain pen to sign... but I wanted to ;) .

Can't believe you moved my thread Kent :D .

Awesome! Good for you. Just curious, did the contract involve any student loan repayment or a signing bonus?
 
Kent, I grew up in Lima and graduated from Shawnee. Small world.

Iatros, yes there was a signing bonus. The signing bonus started out pretty small, but over the several months it grew and grew because I was being recruited by another town as well. If you have at least 2 good job opportunities, you have quite a bit of negotiating power. One of my attendings taught me if, when negotiating, you have the capability of walking away, then you have a leg up on your potential employer.
 
Kent, I grew up in Lima and graduated from Shawnee. Small world.

Iatros, yes there was a signing bonus. The signing bonus started out pretty small, but over the several months it grew and grew because I was being recruited by another town as well. If you have at least 2 good job opportunities, you have quite a bit of negotiating power. One of my attendings taught me if, when negotiating, you have the capability of walking away, then you have a leg up on your potential employer.

I'll not ask you what you are making, but would you mind intimating whether you are going to do as well as you would have liked, expected, etc., or better or worse as an FM.

Judd
 
Juddson, I see posts all the time about income in family medicine, is FM really that bad (in terms of hours worked vs. income generated) etc. These questions don't bother me although I usually don't read these type of threads anymore because I've been reading them for over 3 years now. But I remember when I was a medical student and it always seemed like it was taboo to ask these questions and the answers were always a secret. Websites like this are nice because you can ask the question in anonymity. As you all know, income depends on so many factors that it is hard to give an accurate answer. For me, yes I am happy with my income + signing bonus + benefits package. It is a little more than I expected, but probably average across the country. Although I started off in an emergency medicine residency and I can tell you my starting salary would have been a lot more if I would have stayed in emergency medicine :D .

Any medical students or interns who want to know exactly what I was offered can PM me and I will tell you. My reason for doing this is to give you a real life answer to the income question and to show you that you can make it in family medicine, have a good life, pay off loans, etc. I'll prefix the answer with this:

It's an employed position that requires 36 hours of direct patient care and 4 hours of administration time. Inpatient care is optional, (they have hospitalists) but i've elected to do so. 4 weeks vacation and 1 week CME. Call will be decided between my partner and I. I won't be doing any unusual procedure (i.e. colonoscopy) or OB. I think that's about it.

Oh, and Juddson, this entire post wasn't just for you because I realize you weren't asking in particular what I was offered, etc. So I don't want my reply to come off sounding bad. My point is that these questions are realistic and although we all went into medicine for altruistic reasons, income is important.

Dean
 
Juddson, I see posts all the time about income in family medicine, is FM really that bad (in terms of hours worked vs. income generated) etc. These questions don't bother me although I usually don't read these type of threads anymore because I've been reading them for over 3 years now. But I remember when I was a medical student and it always seemed like it was taboo to ask these questions and the answers were always a secret. Websites like this are nice because you can ask the question in anonymity. As you all know, income depends on so many factors that it is hard to give an accurate answer. For me, yes I am happy with my income + signing bonus + benefits package. It is a little more than I expected, but probably average across the country. Although I started off in an emergency medicine residency and I can tell you my starting salary would have been a lot more if I would have stayed in emergency medicine :D .

Any medical students or interns who want to know exactly what I was offered can PM me and I will tell you. My reason for doing this is to give you a real life answer to the income question and to show you that you can make it in family medicine, have a good life, pay off loans, etc. I'll prefix the answer with this:

It's an employed position that requires 36 hours of direct patient care and 4 hours of administration time. Inpatient care is optional, (they have hospitalists) but i've elected to do so. 4 weeks vacation and 1 week CME. Call will be decided between my partner and I. I won't be doing any unusual procedure (i.e. colonoscopy) or OB. I think that's about it.

Oh, and Juddson, this entire post wasn't just for you because I realize you weren't asking in particular what I was offered, etc. So I don't want my reply to come off sounding bad. My point is that these questions are realistic and although we all went into medicine for altruistic reasons, income is important.

Dean



For anyone interested I've seen statistics along the following lines:

avg FP pay: $55/hr
avg EM pay: $90/hr
 
For anyone interested I've seen statistics along the following lines:

avg FP pay: $55/hr
avg EM pay: $90/hr

That's way low for most of us.

Heck, even someone earning the mean in FM (approx. $170K/year) and working the average schedule (50 hours/week) for 48 weeks/year would average out to around $70/hour.

Many of us earn more than that working fewer hours.
 
The numbers definitely sound off.. but not too far off..

The average is 161k for FM and EM is like 192k

So if FM is working 50 hours and EM is working like 40 hours.

52 weeks in a year with 4 vacation?

More like $67 per hr for FM and $100 per hr for EM.
 
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I'd rather work 40 hours in my office than 40 hours in the ED. Those guys are earning any extra money they get.

;)
 
It's an employed position with the hospital with the option to take the practice private at any time. My goal is to take it private after two years (giving me some time to learn a little more about the business side of medicine).

Explain? Do you mean no ties to hospital after you decide you have learned enough? What about the other doc? What would you owe the hospital if/when you part ways?
 
Raptor,

Whenever I decide to take the practice private I will have to purchase the equipment at auction value and then the ties with the hospital in terms of the practice will be severed. As it's an employed position (not income guarantee) I won't owe the hospital anything. My partner has the same language and contract period as I do and we are like minded in our goals for the future.
 
For anyone interested I've seen statistics along the following lines:

avg FP pay: $55/hr
avg EM pay: $90/hr

There are intangible benefits to FM. You can build a very selective practice and not have to deal with the drunks and drug addicts for the most part. The EM guys/gals definitely earn their pay!
 
That's way low for most of us.

Heck, even someone earning the mean in FM (approx. $170K/year) and working the average schedule (50 hours/week) for 48 weeks/year would average out to around $70/hour.

Many of us earn more than that working fewer hours.

I guess those numbers were deduced from self-reported "taxable" income...
Definetely if you have your own practice there's going to be more leeway in whats taxable or not ;)
 
I guess those numbers were deduced from self-reported "taxable" income...
Definetely if you have your own practice there's going to be more leeway in whats taxable or not ;)

This salary survey is often quoted here on SDN. It's based on net income after expenses, not taxable income. Taxable incomes are probably a bit lower, depending on how many deductions one has.
 
This salary survey is often quoted here on SDN. It's based on net income after expenses, not taxable income. Taxable incomes are probably a bit lower, depending on how many deductions one has.

Great info!

Is there a reason why for FP w/o OB, the salary years 1-2 is 161k and years >3 it dips to 135k? I found that puzzling.
 
Great info!

Is there a reason why for FP w/o OB, the salary years 1-2 is 161k and years >3 it dips to 135k? I found that puzzling.

I heard one explanation before but I never understood it..


Still boggles me if you ask me.
 
Is there a reason why for FP w/o OB, the salary years 1-2 is 161k and years >3 it dips to 135k? I found that puzzling.

Everyone asks about that. It doesn't really make much sense to me, either. The only explanation I've been able to come up with (nothing more than a guess, really) is that a significant percentage of the survey respondents were in salaried positions. Many of these offer salary guarantees for 1-2 years (often artificially high as a recruiting incentive), but your income is based on production after that. Typically, you have to work harder to maintain your income after the guarantee runs out. Another possibility is that the first-year income reflects some sort of signing bonus. Again, this is just a guess.

FWIW, my income has increased every year, but I'm not salaried.
 
I am thinking that the majority of people who are over 3 years practicing have not moved from their practice despite salaries everywhere going up and yet theirs not moving...... which means to me that they have been accepting a no raise for a long time now...


My guess is that those people have settled down and dont want to move despite the obvious increase in salary if they went for a new position elsewhere... It's not a surprise because FM docs usually are attached to where they practice (like their hometown or something similar).
 
The only explanation I've been able to come up with (nothing more than a guess, really) is that a significant percentage of the survey respondents were in salaried positions. Many of these offer salary guarantees for 1-2 years (often artificially high as a recruiting incentive), but your income is based on production after that.

Sounds reasonable, but is FM the only specialty that has this salary guarantee for the first couple of years? I noticed all other specialties don't have this "dip" in salaries. Not that it's a big deal, I just found it interesting.
 
Sounds reasonable, but is FM the only specialty that has this salary guarantee for the first couple of years? I noticed all other specialties don't have this "dip" in salaries. Not that it's a big deal, I just found it interesting.

and FM with OB doesn't have the dip either.
 
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