WOOHOO I got a job offer!

This forum made possible through the generous support of SDN members, donors, and sponsors. Thank you.
whats that? you are going to go work at the VA? Man, Id probably hold out...

congrats on your offers Quinn!
Members don't see this ad.
 
This data comes from ACEP Reference plus Resource Guide 2005.

MGMA's Physician Compensation and Production Survey: 2004 report based on 2003 data. The data is based on responses received from 1,876 medical groups across the country, representing 43,950 providers, including groups representing 621 emergency physicians.

Median 2003 salaries for emergency physicians, by years of experience in the specialty, were reported as follows:

1-2 years: $187,056
3-7 years: $209,548
8-17 years: $229,068
18+ years: $237,829

The greates variations in compensation are regional.
Median 2003 salaries for emergency physicians by region, were reported as follows:

Eastern $195,750
Midwest $235,449
Southern $276,247
Western $212,239

This pattern of geographic variation holds true for most specialties, as well as for primary care physicians.


Median compensation for academic emergency medicine physicians in 2003 was $178,000.

Median 2003 salaries by accademic appointment:

Instructor $149,000
Assistant $162,000
Professor Associate $164,878
Professor $183,303
 
gmg said:
This data comes from ACEP Reference plus Resource Guide 2005.

MGMA's Physician Compensation and Production Survey: 2004 report based on 2003 data. The data is based on responses received from 1,876 medical groups across the country, representing 43,950 providers, including groups representing 621 emergency physicians.

Median 2003 salaries for emergency physicians, by years of experience in the specialty, were reported as follows:

1-2 years: $187,056
3-7 years: $209,548
8-17 years: $229,068
18+ years: $237,829

The greates variations in compensation are regional.
Median 2003 salaries for emergency physicians by region, were reported as follows:

Eastern $195,750
Midwest $235,449
Southern $276,247
Western $212,239

This pattern of geographic variation holds true for most specialties, as well as for primary care physicians.


Median compensation for academic emergency medicine physicians in 2003 was $178,000.

Median 2003 salaries by accademic appointment:

Instructor $149,000
Assistant $162,000
Professor Associate $164,878
Professor $183,303
Click to expand...

Thanks, I couldn't find my copy. Over the past 4-5 years (when I've been "close" enough to care), I've found the ACEP guide to be lagging quite a bit against what I heard new grads being offered. Is this just me or have other experienced the same. Q - what (in range terms) are the salaries being discussed this year? Is it the 187K from above or is it higher? Are those median stats somehow skewed downward or are they accurate (and I'm just friends with some lucky folks)?

- H
 
Members don't see this ad :)
Full time in the DC area pays quite a bit less than my colleagues who are staying in the south (Florida/Georgia). I'm getting offers from $95-112 an hour (probably 160-190k) plus bonuses/incentives/401k blah blah.

One of my fellow residents is getting offers of 150 an hour PLUS benefits (i.e. not independent contractor) in Georgia... with stories of 30-70k bonuses q 6 months!

Another of my fellow residents who wants to go to southwest Florida (i.e. hurricane bait) is hearing $160 an hour as independent contractor.

Q
 
So, the survey is "off" as was proposed above, that is academic appointments and high supply areas driving down the overall median. That's what I thought. Not that 190K plus benefits is anything to sneeze at...

- H
 
QuinnNSU said:
Full time in the DC area pays quite a bit less than my colleagues who are staying in the south (Florida/Georgia). I'm getting offers from $95-112 an hour (probably 160-190k) plus bonuses/incentives/401k blah blah.

One of my fellow residents is getting offers of 150 an hour PLUS benefits (i.e. not independent contractor) in Georgia... with stories of 30-70k bonuses q 6 months!

Another of my fellow residents who wants to go to southwest Florida (i.e. hurricane bait) is hearing $160 an hour as independent contractor.

Q
Click to expand...

when you say "incentives and bonuses" what exactly does that mean? are incentives like medical and dental coverage, etc? and what qualifies you for a bonus? also, from your quotes of $95- $112 per hour, assuming you work a 40 hr week, that translates to 180-215 K. So, 200 K + bonuses/incentives (depending on what these are what they are worth) isn't too shabby as a newbie i guess. :)
 
Incentives and bonuses vary from group to group. Some offer productivity bonus (pts/hr ABOVE expected 2.2 pph or RVU equivalent). Some also provide incentives for working proportionally more nights and weekends (increased hourly rate). Benefits include insurance, retirement, tuition reimbursement, etc. The big one to ask for is malpractice coverage (which as an IC is often your responsibility) and tail coverage (which you may need to pay for if you leave a group). Another huge incentive offered is guaranteed partnership. Some groups will expect you to work at a lower hourly rate for your first couple of years in a group and then you will be made partner in the practice, which means a hefty raise and group profit sharing. These can be tricky though (from what I hear) because you may or may not be guaranteed partnership.
 
I'm going to have heart failure if I have to look for a job in april... :(
 
Nice topic. I figure I will BUMP this to the top. Wondering if others have any input on salaries etc.
 
I know for a FACT that the down n' dirty South pays a $hitload of money... anywhere from $130 - 160 / hr EMPLOYEE (NOT IC!).
*sigh*

Q
 
To the sr residents on here. What sort of hours are we talking early on? 1800/yr or a different number. It seems to me that here in chicago docs tend to work at 2-3 different places. I am not sure if this offers some sort of economic advantage of what? Is it that they get better shifts that way? Wondering if one of you guys can explain this to me.
 
Ectopic - some groups staff two or more hospitals and if you are hired by one, you may work at several different facilities. On the flipside, some places can hire you for 12-14 8 hour shifts per month for $200,000 per year as an employee. If you want to work more, you can easily moonlight at other hospitals in the area on the days you are not scheduled. One of my mentors still works 26 shifts per month doing this and easliy makes $400 per year (but works like a resident). Salaries are definitely much higher in the south. I'm only halfway through residency and I have an offer for $320k per year (15 12 hour shifts/month)...
 
Niner,

Just wondering what state that offer is in? I dont want you to give out too much info but the state would be helpful.

Also are most of the benefits like 401(k) matching or pensions or what? I realize that I am way early for these topics but I am curious.
 
Members don't see this ad :)
EctopicFetus said:
To the sr residents on here. What sort of hours are we talking early on? 1800/yr or a different number. It seems to me that here in chicago docs tend to work at 2-3 different places. I am not sure if this offers some sort of economic advantage of what? Is it that they get better shifts that way? Wondering if one of you guys can explain this to me.
Click to expand...
One place I talked to had their "Full Time docs" at 1600 hours a year. One place that I am interested in has us at 1860 hours a year (5 weeks paid vacation). Yet a third place I am interested in, has us working ~37.5 hours a week for 45 weeks (the rest paid vacation).

Q
 
What kind of retirement benefits have you guys found?

I've seen some of the bigger corporations offering $40,000 pensions plus 401(k)'s. Can you contribute the maximum $15,000 to a 401(k), $4-5,000 to a traditional IRA, and get a $40,000 pension? Now that's some serious retirement benefits!
 
I need to bookmark this and come back in two years after my fellowship)
 
southerndoc said:
What kind of retirement benefits have you guys found?

I've seen some of the bigger corporations offering $40,000 pensions plus 401(k)'s. Can you contribute the maximum $15,000 to a 401(k), $4-5,000 to a traditional IRA, and get a $40,000 pension? Now that's some serious retirement benefits!
Click to expand...
The amount you can dump in your 401(k) is irrespective of pensions etc. The issue of Roth IRA's is that once you have a certain level of income (like a doctors) you are no longer eligible to contribute.

Quinn, as far as "paid vacation" can anyone explain to me how it is paid if you are paid an hourly wage? Does this mean that lets say you are expected to work 40 hours per week at $100 per hour (to make the math easy) during your vacation you are still making 4K per week? I always assumed it wasnt that way. thanks for your help guys.
 
southerndoc said:
Right, which is why I specifically mentioned traditional IRA's.
Click to expand...

you can only put money in a traditional IRA if you cant put money in a 401(k) i.e. if you are self employed or you choose not to do it through work.
 
I guess I should have said it depends on your income level.

http://www.statefarm.com/lifevents/retrad.htm

If you (and your spouse) participate in an employer sponsored retirement plan, your adjusted gross income level will determine how much of your contribution is tax deductible. The following table should help you determine the deductible amount:


There is a table on there which states that after you make 100K (married in 2007) you get no deduction. I.e. there is no benefit so you might as well put it in a regular savings.
 
EctopicFetus said:
I guess I should have said it depends on your income level.

http://www.statefarm.com/lifevents/retrad.htm

If you (and your spouse) participate in an employer sponsored retirement plan, your adjusted gross income level will determine how much of your contribution is tax deductible. The following table should help you determine the deductible amount:


There is a table on there which states that after you make 100K (married in 2007) you get no deduction. I.e. there is no benefit so you might as well put it in a regular savings.
Click to expand...

Right, it's not tax deductible, but you are still eligible to make contributions.
 
Southerndoc,

Why would you do that if you could simply put money in a regular brokerage account? That way you would be under no restrictions. Right or am i missing something?
 
EctopicFetus said:
Why would you do that if you could simply put money in a regular brokerage account? That way you would be under no restrictions. Right or am i missing something?
Click to expand...

There are tax advantages outside of a traditional investment account, but you really must know what you are doing. If you think your income in retirement will be lower (most people's are), then you can use a traditional investment account to do short-term trading, investment in bonds/CD's, and investment in money market funds. These are often taxed at traditional income rates. When you take withdrawals later in life, you will be in a lower income bracket and will thus pay less taxes on them.
 
EctopicFetus said:
The amount you can dump in your 401(k) is irrespective of pensions etc. The issue of Roth IRA's is that once you have a certain level of income (like a doctors) you are no longer eligible to contribute.

Quinn, as far as "paid vacation" can anyone explain to me how it is paid if you are paid an hourly wage? Does this mean that lets say you are expected to work 40 hours per week at $100 per hour (to make the math easy) during your vacation you are still making 4K per week? I always assumed it wasnt that way. thanks for your help guys.
Click to expand...
From some of the contracts I've been offered, you just get "one weeks worth of salary" while you are off each week, so, yeah, you get 4k for doing nothing.

Q
 
I noticed in an earlier post that someone said something about "private practice". I am an MS1 so forgive my ignorance but how does one work privately in the EM field? I just figured everyone was working in hospitals (and thus public)
 
SkylineMD said:
I noticed in an earlier post that someone said something about "private practice". I am an MS1 so forgive my ignorance but how does one work privately in the EM field? I just figured everyone was working in hospitals (and thus public)
Click to expand...
"Private Practice" in EM mainly refers to those of us who don't work in academia.
 
I just turned down my first job offer. That was a strange feeling. It is nice to be wanted, buy a tie, get a few free plane rides and dinners at the fancy restaurants. Bye-bye ivy league academia, hello small town community hosp.

It really seems like there is a lot of work out there. After medical school and residency it is nice to finally choose where I want to live.
 
Thank you DocB for answering my question

Another question that I had was how does one get offers for interviews post-residency? Do you have to apply (just like normal) or is there a database where you put in your information and get contacted by those who need an EM physician
 
Apollyon how is the pay.. ranges of course.. you obviously dont have to answer if you dont want to! Just curious on what the starting salaries are for the new guys!
 
Cool keep us updated when it is appropriate! Congrats BTW!
 
You must log in or register to reply here.
Next unread thread

Similar threads

S
Navigating job offer/sign on bonus
Replies
29
Views
4K
EctopicFetus
EctopicFetus
H
Job Advice
Replies
35
Views
3K
bky3c
B
S
Bad if I am starting to hate a new job I thought I would like?
Replies
30
Views
3K
RoyBasch
R
W
What job do I go with?
Replies
13
Views
2K
NYEMMED
N
Arcan57
The job vs. the job - how far(?!) has it come in 10ish years
Replies
6
Views
1K
Arcan57
Arcan57
Top