Salaried job v private practice

[vkrn]

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A friend of mine ran into this job offer to serve as the psychiatrist for an adult daycare. He would work Monday through Thursday, 8 am to noon, for a salary of $80,000 without benefits (he'd be working less than 20 hours weekly so he wouldn't qualify for benefits).

Do you think this is a fair deal?

At the adult day care, he basically would be running group therapy for 3 hours daily. The other hour would be for admin stuff.

I told him that I think he may be able to do this guaranteed easy job and then continue with a part-time private practice as well. However, I suppose that he could make more as a full-time private practitioner seeing people for $250 at 45 minutes a pop. On the other hand, he'd have to pay rent and find his own patients.

Thoughts? Would love to hear from graduating residents or attendings.

 

[michaelrack]

Assuming he's paying for his own malpractice, he should hold out for a salary of $85,000-90,000 (85k if BE, 90k if BC).

 

[vkrn]

I don't know if he's getting his own malpractice. So it'd be even lower if they buy the malpractice for him? How much lower?

I thought that maybe he should be asking for a lot higher, since corporate-type people are always looking to squeeze the MD. But if $85-90K, no insurance, is fair, then I guess the offer isn't too far off the mark, although brushing on the low end.

 

[michaelrack]

I don't know if he's getting his own malpractice. So it'd be even lower if they buy the malpractice for him? How much lower?

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If they're covering his malpractice for the position I think he should try to squeeze them for an extra $5000 (aim for $85,000) assuming it's only a 1 year contract. He can get more when it's time to renew.

 

[OldPsychDoc]

Why do they need an MD to run therapy groups?

 

[vkrn]

Apparently it's a state law in Illinois that only psychiatrists can treat group therapy for this particular category of patients

 

[whopper]

4 days a week, 4 hrs a day, that's only 16 hours a week for 80K a year.

It's hard to answer you because there are other factors--does this job give a 401k? Do they pay for malpractice? Does he get vacation time?