Partnership

[penguink]

(Sorry if this is in the wrong area.)

Ok, so I understand that partnership means that you like own part of the business but that's about it. I've been looking around job sites to see what salaries etc. are like for real physicians, and in a lot of them it says something like partnership available in 12 months, salary may increase to $_______ (usually around double what you start at).

I also understand that since you own part of the business, your pay fluctuates. But do you have to buy into it, like give them money, or do you automatically own a portion after a year?

Other information on how this works is appreciated, thanks!

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[randombetch]

You don't have to buy into it... You just become a part owner. Usually, your work preceding it is "paying" for it, since the partners are keeping the extra money you make but don't get to keep. It's an incentive to work hard for the firm.

I'm guessing partnership in medicine is much easier than getting partnership at a law firm or investment bank.