Where to find fair market compensation info?

[guitarguy23]

I am looking for values in my area but am having a hard time finding the numbers. What resources are used to find fair market value physician salary info? Thanks.

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[gutonc]

MGMA is the best data out there. Not saying it's good, just the best generally available.

It's also expensive.

 

[CCM-MD]

AMGA is probably almost as good as MGMA. Medians are available for free here: Physician Compensation Report | Cejka Search

 

[KeikoTanaka]

AMGA is probably almost as good as MGMA. Medians are available for free here: Physician Compensation Report | Cejka Search

I like these numbers. Seems higher than other sites haha

 

[CCM-MD]

I like these numbers. Seems higher than other sites haha

They are very similar to the MGMA medians. Keep in mind this is "total comp" and not base pay.

 

[KeikoTanaka]

They are very similar to the MGMA medians. Keep in mind this is "total comp" and not base pay.

As in with bonuses and insurance and other benefits included?

 

[guitarguy23]

Thank you all-these quoted in the site links seem generic. I would expect swings based on metro vs rural settings? I am looking in a small town area FYI. Comp seems appropriate at least based on comparison.

 

[rolen05]

They are very similar to the MGMA medians. Keep in mind this is "total comp" and not base pay.

Yeah These numbers seem very high...unless they’re taking into account the value of health insurance coverage etc

 

[CCM-MD]

Yeah These numbers seem very high...unless they’re taking into account the value of health insurance coverage etc

Sorry you feel that way. In my experience they are reliable. Can’t speak for every specialty on there but for my specialty and hospitalist - they are spot on.

 

[gutonc]

Yeah These numbers seem very high...unless they’re taking into account the value of health insurance coverage etc

They include total compensation including benefits and median bonuses, not just gross salary.

 

[Raryn]

As in with bonuses and insurance and other benefits included?

They include total compensation including benefits and median bonuses, not just gross salary.

Not quite.

These numbers include all forms of cash compensation - so pay, quality bonuses, productivity bonuses, 401(k) match, HSA etc. They do not include the value of benefits like health insurance.

MGMA explicitly writes physician compensation was defined as all "compensation on a W2, 1099 or K1 [for partnerships] plus all voluntary salary reductions such as 401(k), 403(b), Section 125 Tax Savings Plan and Medical Savings Plan. The amount reported should include salary, bonus and/or incentive payments, research stipends, honoraria and distribution of profits."

 

[CCM-MD]

AMGA methodology for compensation is below, for anyone who is interested.

“Compensation — The total annual compensation for each physician from each specialty on the specialty code list. Clinical compensation of the individual physician including base and variable compensation plus all voluntary salary reductions. Examples of clinical compensation would include but are not limited to: compensation paid as salary or production-based compensation plans, any type of additional bonuses or incentives, clinically related medical directorships, call coverage, ancillary or advanced practice clinician supervision stipends. Compensation excludes any fringe benefits and employer payments to any type of retirement, pension, SERP or tax-deferred profit-sharing plan. Data reported are adjusted to a 1.0 FTE.”

 

[Gastrapathy]

locums companies will often share this info with you for "free"

just be sure to give them a throwaway email and phone number

 

[pgy0246]

What's in your incentive plan? | Today's Hospitalist

Check the incentive plan, they also divide between base salary and productivity bonus.

 

[cbrons]

Does this mean I shouldn't accept a rural IM job at less than $259,765 ?

 

[Raryn]

Does this mean I shouldn't accept a rural IM job at less than $259,765 ?

Are you working 3 days a week?

 

[cbrons]

Are you working 3 days a week?

nope this will be 5 days per week plus some rounding on weekends depending if patients are in the hospital

 

[Raryn]

nope this will be 5 days per week plus some rounding on weekends depending if patients are in the hospital

It would depend on the specifics of the contract (is this just a base pay for the first year? are there bonuses on top of that? what state are you in?) but that seems like fairly low pay for a rural job.