Opinions on this job offer

[paranoidthrowaway]

I am finishing up residency in a few months and am evaluating offers.

The job I am interested in is outpatient position, one hour intake, 30 min follow ups.

The job is located in NJ, within one hour drive of NYC.
This is in a large health system. Variety of payers.

This is an hourly W2 position, but I have to agree to a set number of minimum hours per week. Can take days off without an issue as long as I give them a few weeks notice. If I don't work, I don't get paid.

Paid as a W2, malpractice is covered, no other benefits. No RVU requirements but the average is around 3.1 an hour.

Offer right now is $183 an hour.
What do you think of the compensation?
Seems like there is some more room for improvement.

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[Monocles]

Do you get paid for no shows?

 

[paranoidthrowaway]

Do you get paid for no shows?

Hi Monocles. Yes I do. They are paying for my time. Filling it is up to them.

 

[splik]

You should always negotiate because whatever is being offered is probably the minimum they are willing to offer, and it's good practice! It sounds like you are a W2 hourly in this position. Depending on what else you would be doing the rest of your time, you may want to consider being a 1099 worker for a higher rate (e.g. $200/hr) as that will allow you to deduct expenses from your taxes, whereas otherwise you will not be able to deduct anything. I think it would depend on how many hours you are intending to work here what you should ask for and what you can negotiate.

 

[TexasPhysician]

Looks good to me.

 

[paranoidthrowaway]

You should always negotiate because whatever is being offered is probably the minimum they are willing to offer, and it's good practice! It sounds like you are a W2 hourly in this position. Depending on what else you would be doing the rest of your time, you may want to consider being a 1099 worker for a higher rate (e.g. $200/hr) as that will allow you to deduct expenses from your taxes, whereas otherwise you will not be able to deduct anything. I think it would depend on how many hours you are intending to work here what you should ask for and what you can negotiate.

You are right - never hurts to ask.
The W2 job mentioned above will be ~ 20 hours weekly.
Thankfully this is not the only position I will have, and the other position is a 1099, so hopefully I will be able to take advantage of some of the tax deductions.

 

[slappy]

You should always negotiate because whatever is being offered is probably the minimum they are willing to offer, and it's good practice! It sounds like you are a W2 hourly in this position. Depending on what else you would be doing the rest of your time, you may want to consider being a 1099 worker for a higher rate (e.g. $200/hr) as that will allow you to deduct expenses from your taxes, whereas otherwise you will not be able to deduct anything. I think it would depend on how many hours you are intending to work here what you should ask for and what you can negotiate.

This is a complex calculation, and self-employment tax being what it is, you'd have to be paid a lot higher than 200 just to break even with an 183 W2. There's also important intangible to consider - labor law protections as a W2 employee. Unless the commute's really long (I think the standard deduction is ~$1/2mi) or there's high parking costs, etc, I wouldn't necessarily go this route.

 

[michaelrack]

With him already having a 1099 job, he should keep this job offer w2

There are a lot of restrictions for claiming mileage for a job

 

[dl2dp2]

$185 outpatient for that location is decent. Have you visited the hospital? Does it seem like a decent place to live? I’d take it if it’s 20 hours a week. The main concern is caseload schedueing etc but you won’t get a sense until you actually show up. NJ is big though, the exact town makes a big difference. The other issue is if they are continuously losing money on you the hospital might shut the clinic. This happens not infrequently.

This is what I often tell people. Even in the nyc metro, when you get an hour out all of a sudden you start to get to Idaho numbers. Long ago I had a NYCHHS quote around that number.

Re: W2 ^^^^^ is right, 20 hours will reach your FICA ceiling. You should keep it W2.

 

[Armadillos]

General question, for
jobs like this or telepsych where people are quoting an hourly number, will these jobs pay you for something like an hour a day of writing notes or that expected to happen during the scheduled patient time?

 

[paranoidthrowaway]

General question, for
jobs like this or telepsych where people are quoting an hourly number, will these jobs pay you for something like an hour a day of writing notes or that expected to happen during the scheduled patient time?

There is no scheduled admin/paperwork/note writing time from what I've seen.
They want you to do it during visits/no shows/etc.

 

[uhmocksuhsillen]

A little off-topic, but are telepsych rates typically consistent with the rate quoted by the original poster? If not, what ballpark should one count on for telepsych?

 

[Jules A]

There is no scheduled admin/paperwork/note writing time from what I've seen.
They want you to do it during visits/no shows/etc.

Which is reasonable. Although everyone gets behind on occasion with 30/60min scheduling in general OP psych there is a problem if someone isn't able to consistently finish on time. This looks like a nice offer to me.

 

[TexasPhysician]

A little off-topic, but are telepsych rates typically consistent with the rate quoted by the original poster? If not, what ballpark should one count on for telepsych?

$160

 

[J ROD]

Decent offer. I would try to get 200/hr and a free calendar.

 

[paranoidthrowaway]

A little off-topic, but are telepsych rates typically consistent with the rate quoted by the original poster? If not, what ballpark should one count on for telepsych?

$160

That is about the top hourly rate I've seen for telepsych as well.

 

[TexasPhysician]

That is about the top hourly rate I've seen for telepsych as well.

Most advertise around $140 around me and negotiate to $160 fairly easily. Below $140 is weak. Above $160 takes some looking and negotiating in my experience.

 

[uhmocksuhsillen]

Most advertise around $140 around me and negotiate to $160 fairly easily. Below $140 is weak. Above $160 takes some looking and negotiating in my experience.

Thanks for the input. One last question about salary/practice setting... any idea what psych ER is like?

 

[finalpsychyear]

Most advertise around $140 around me and negotiate to $160 fairly easily. Below $140 is weak. Above $160 takes some looking and negotiating in my experience.

R these quoted rates 1099 or W2?