Can the more experienced out there please give me some of the NEGATIVES
of being in a partnership/partnership track
thanks!
of being in a partnership/partnership track
thanks!
Partnership question
- Thread starter ecf1975do
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You could slave away (80 hour per week at far less than full pay) for two to five years to make partner, then be fired just before you make partner to be replaced by a new graduate or learn that the group is loosing money and partners make little or nothing.
If you take call or stay late you should be rewarded, with additional pay in your next pay check and not just in the form of and empty promise of partnership or the promise of an imaginary bonus in 12 months. With too many jobs that is a radical Idea whose mere mention could get you fired or placed on the non partner tract.
Good jobs are hard to find. Look at gaswork or talk to any recruiter and 80% of the jobs you hear about are B.S. where you are going to get screwed. Most jobs force you to take call and work late for little or no extra compensation in the hope of eventually making partner.
How stable is this situation? How many people have they gone through in the last year or two? Is this a real group or an absentee owner out of town anesthesia Management Company?
If this job is short in duration it could be costly due to the cost of the tail. Since many groups, hospitals or anesthesia Management Companies will fire you for next to no reason at all. Call for help with an intubation, struggle with an epidural, or piss off a charge nurse or surgeon and you may be shown the door.
The cost of Tail coverage is not insignificant. Tail policies typically are equal to three years of premiums. That amount doesnt change if you work one day or five years. I got forced to pay a $29K tail when I took a good paying job where the boss hired a visa worker, six months after I was hired. I was told that my pay was too high and that I need to get paid the same as the visa worker, i.e. take a 130K per year pay cut.
If you take call or stay late you should be rewarded, with additional pay in your next pay check and not just in the form of and empty promise of partnership or the promise of an imaginary bonus in 12 months. With too many jobs that is a radical Idea whose mere mention could get you fired or placed on the non partner tract.
Good jobs are hard to find. Look at gaswork or talk to any recruiter and 80% of the jobs you hear about are B.S. where you are going to get screwed. Most jobs force you to take call and work late for little or no extra compensation in the hope of eventually making partner.
How stable is this situation? How many people have they gone through in the last year or two? Is this a real group or an absentee owner out of town anesthesia Management Company?
If this job is short in duration it could be costly due to the cost of the tail. Since many groups, hospitals or anesthesia Management Companies will fire you for next to no reason at all. Call for help with an intubation, struggle with an epidural, or piss off a charge nurse or surgeon and you may be shown the door.
The cost of Tail coverage is not insignificant. Tail policies typically are equal to three years of premiums. That amount doesnt change if you work one day or five years. I got forced to pay a $29K tail when I took a good paying job where the boss hired a visa worker, six months after I was hired. I was told that my pay was too high and that I need to get paid the same as the visa worker, i.e. take a 130K per year pay cut.
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Two comments tagging onto above
1) the distillation of the downside to a partnership track is that it involves delayed gratification. You make less than you otherwise would and/or buy into the business for the promise of better pay and/or hours down the road. Sometimes that works out, sometimes not. There are no guarantees, and though there are techniques to minimize risk, it cannot be entirely eliminated or (I think the bigger issue) accurately quantified.
2) the downside to being a partner is that you are the owner of a business. If it makes a profit, you get the $$. If it tanks, you have to pay all the bills before getting paid. You could make less than your employed docs.
I don't think the tail issue really pertains to partnership or no. In most places, you're on your own for a tail if you lose a job.
1) the distillation of the downside to a partnership track is that it involves delayed gratification. You make less than you otherwise would and/or buy into the business for the promise of better pay and/or hours down the road. Sometimes that works out, sometimes not. There are no guarantees, and though there are techniques to minimize risk, it cannot be entirely eliminated or (I think the bigger issue) accurately quantified.
2) the downside to being a partner is that you are the owner of a business. If it makes a profit, you get the $$. If it tanks, you have to pay all the bills before getting paid. You could make less than your employed docs.
I don't think the tail issue really pertains to partnership or no. In most places, you're on your own for a tail if you lose a job.
