Partnership Track with no buy-ins?

[sky778]

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What is the deal with partnership track without buy-ins? Was told that the partners and non-partners get the same compensation. I understand how with buy-ins you make more as a partner but I'm not sure I understand the structure here with partnership without buy-ins.

Appreciate any inputs!

 

[2019medstudent]

It's just for voting privileges

 

[UscGhost]

What is the deal with partnership track without buy-ins? Was told that the partners and non-partners get the same compensation. I understand how with buy-ins you make more as a partner but I'm not sure I understand the structure here with partnership without buy-ins.

Appreciate any inputs!

Probably voting rights. Not all that important assuming you get them eventually.

No buy in and the same compensation is very fair. Not ideal for new hires to be voting on changes to the group when they likely don't have enough experience there to make knowledgeable decisions about how to effectively run things

 

[ASA6]

What is the deal with partnership track without buy-ins? Was told that the partners and non-partners get the same compensation. I understand how with buy-ins you make more as a partner but I'm not sure I understand the structure here with partnership without buy-ins.

Appreciate any inputs!

I'd ask if partners are getting bonuses or profit sharing. It's not uncommon for groups to advertise equal pay from day one, but ignore the fact that partners are still getting large bonuses or profit sharing payouts. That's basically your buy in.

 

[Drwine]

The result of supply and demand. It has happened before. Locums are expensive and variable quality.

 

[Pharmado]

Assuming there aren’t other pay markers not given (profit sharing, 401k contributions etc) this is as fair as it gets. Maybe you can’t vote yet, but any group that is fair enough to give equal pay from day one is unlikely to ignore your opinions entirely.

 

[nimbus]

We’ve always allowed not yet partners to vote on things that affect our department, e.g. staffing, schedule, adding or dropping sites, etc.

 

[cchoukal]

The truth is, these partnerships aren’t really partnerships in the legal, IRS, sense of the word, for the most part. Any buy-in is in name only and there are generally no assets or shares that you are “buying in” to. The smaller this number, the less malignant your group is likely to be. If it’s zero, all the better. As the others have said, though, compensation comes in many buckets, so make sure equal is really equal.

 

[pocafx]

Just cause compensation is equal. Doesn’t mean equal work. Easier or harder rooms. Back door deals 10 years old regarding calls, vacation, etc.

 

[MTGas2B]

My old gig partners had voting rights for all the corporate governance stuff. Bylaws, accepting contracts, running for the board of directors, being an officer of the corporation, etc.

Like others department ops non partners had a voice and a vote.

 

[james775]

I'd ask if partners are getting bonuses or profit sharing. It's not uncommon for groups to advertise equal pay from day one, but ignore the fact that partners are still getting large bonuses or profit sharing payouts. That's basically your buy in.

Haha funny story about this. A partner literally said “you and I make the exact same from day one.” He then said they get a quarterly bonus which id be eligible for in 3 years. Quarterly bonus was between 50-75k. Not sure if this guy was out of touch or thought I was an idiot.