Partner or Employee?

[AcademicDoctor]

Partner Vs Employee?
I am starting to look for jobs and found myself asking this question. Partner vs employee?
I have 2 places in mind: one has a partnership track and the other is a health system employee type of job.
The partnership track job will offer a lower guarantee salary compared to the regular employee job(much lower). I told them that and the response was that I would certainly make more money than the guaranteed salary, but they cannot guarantee. I wonder if it is actually true.

I believe that if you have a full schedule, you would probably make more than the guarantee salary. Isn't it right? The partnership track place is also hiring at least one more oncologist and have plan of expansion.
Anyone with more experience can help shade a light on this discussion?

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[IM2GI]

Need so much more information to give an answer to this question.

Guaranteed partnership? After how long? Is there a buy-in? What are partners making? Whats the benefits? How big is the group? How often are you on call? Can they force you to go to some new random satellite? etc, etc...

You really have to trust the people you are getting involved with.

 

[AcademicDoctor]

Thanks IM2GI.
I wasn't offered anything. It is very preliminary. Thanks for the questions you made, I am going to ask them in the interview.

 

[IM2GI]

Thanks IM2GI.
I wasn't offered anything. It is very preliminary. Thanks for the questions you made, I am going to ask them in the interview.

Goodluck. These contracts can be very complicated and full of ways to screw you over depending on the character of the group.

You also should be cautious to not walk into your first interview and shoot off a list of somewhat invasive questions. Save that until they actually make an offer. Let them do most of the talking in the beginning.

 

[visari]

I agree with the above. Smaller groups are usually looking for a true partner and not just another employee. If you show up the first time with a long list of aggressive questions (even though they're legit questions that you should know the answers to before signing the contract) you won't be giving a good first impression.

And to go back to your original question, they're pros and cons to employee versus partner. Way too many variables to make it as simple as "which one is better". I tell graduating fellows to put down their list of priorities when they're looking for their first private job. We all want the perfect job in a great location that pays a lot and it's not too many hours and lets you deal with the pathology that you prefer. But those jobs almost never exist. so rank your priorities according to what's most important to you. Your #1 priority might be wanting to stay close to family on the east coast let's say, or work 4 days a week only, or make >400K, or have a hematology focus ....etc. When you get those down, keep an open mind and go interview with different groups (partnerships and employment) and see what kind of offers you get.