Salary vs. Production Percentage

[ChrisM07]

Hey Folks!

Quick question for everyone. I will be graduating from Dental School in May. I already have a job lined up (corporate with family friends) and am pretty unfamiliar with a lot of the things that come with it (from a non-dental standpoint). I've been doing a lot of research about it lately however.

- I will be getting a salary (don't know how much yet). They don't do pay based on production/collection percentage. Is a salary better than the latter option? I feel like its safe because you always walk away with a paycheck at the end of the day if the work schedule is slow.

- No lab fees for me
- Paid CE
- Paid Malpractice

I don't really even know how to discuss what I think is an appropriate salary when the time comes. I know that national average is around 120k-150k correct? However, I am getting a lot of 'bonuses' (listed above) so I am assuming that I will have to take that into account when thinking of what's appropriate.

Any input is appreciated!

Happy Holidays!

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[321931]

Hey Folks!

Quick question for everyone. I will be graduating from Dental School in May. I already have a job lined up (corporate with family friends) and am pretty unfamiliar with a lot of the things that come with it (from a non-dental standpoint). I've been doing a lot of research about it lately however.

- I will be getting a salary (don't know how much yet). They don't do pay based on production/collection percentage. Is a salary better than the latter option? I feel like its safe because you always walk away with a paycheck at the end of the day if the work schedule is slow.

- No lab fees for me
- Paid CE
- Paid Malpractice

I don't really even know how to discuss what I think is an appropriate salary when the time comes. I know that national average is around 120k-150k correct? However, I am getting a lot of 'bonuses' (listed above) so I am assuming that I will have to take that into account when thinking of what's appropriate.

Any input is appreciated!

Happy Holidays!

My biggest piece of advice is to not lock yourself into a contract you cannot get yourself out of. For example: You don’t want to pay back your draw if you leave in 6 months. Most first year jobs are not good at all. I jumped around from Job to job every 6-8 months. So you need an exit plan in case you need to leave.

For the most part salary is good if you are slow and not experienced but terrible if you are productive and producing a lot. Salary is good for beginners while production is good for experienced doctors. Then comes adjusted production and collections and the whole benefits spiel which goes beyond this. But don’t worry you will understand in time.

Look into Dentaltown for more information.

 

[2TH MVR]

Some corp jobs make you sign a contract. I'm signed up for 24 months. I'm salary with bonuses. I like it, but I'm in a different situation than you (OP) are. Salary is nice because like you said ... my pay is the same slow or busy day. Bonuses make you work harder which is also nice. Trust me .... I want those bonus checks.

Right out of school .... corp isn't bad, but like many have said here ... don't plan on being there a long time. Corp is like an institution. Once in .... you develop skills (speed,etc) that are fine for corp, but probably not private practice. The long term dentists/specialists I see working in the corp offices for a number of years don't seem to have what it takes to be a practice owner. They're too used to be an employee. They're institutionalized.

Just an observation.

 

[Upperbyte]

I am paid on production and do just over 200K a year. First year practicing. I think it varies greatly on so many factors....and I agree about making sure you have an exit plan. Read that contract over with a fine toothed comb, and it may be wise to read it over with a mentor/practice owner that you know that can alert you to things to watch out for. Being careful is always a good idea on these things. Best of luck in your position and I hope you really enjoy it.

 

[Snowpack]

I am paid on production and do just over 200K a year. First year practicing. I think it varies greatly on so many factors....and I agree about making sure you have an exit plan. Read that contract over with a fine toothed comb, and it may be wise to read it over with a mentor/practice owner that you know that can alert you to things to watch out for. Being careful is always a good idea on these things. Best of luck in your position and I hope you really enjoy it.

Just curious, what state do you practice in? Do you work for corp. or private practice?