You most likely believe the best time to start your medical job search is late autumn of the final year of training. That’s the standard advice, but it may not be the best for you. First, you will be just one of many job-applicants fighting for limited openings. Secondly, you will not have adequate time for preparation—you need your market value report and negotiation skills training completed before you start the process. In the rush to prepare for board exams, move, find a place to live, and find a job all at the same time you may have to skip the prep work and might not be able to bargain for the best deal.
In both hospital and group practice settings, physicians are regularly asked to sign employment contracts that the group or hospital may describe as “standard”. While physician employment contracts can define the terms of the employment relationship in helpful ways, they can and often do contain clauses and obligations that may have a long-lasting impact on the physician. When negotiating a contract with a potential employer, physicians are well advised to take a hard look at key contract terms, including termination provisions, non-compete clauses, professional liability insurance terms and indemnification obligations, and negotiate to remove or revise overly burdensome terms prior to the start of the employment relationship.
Updated September 19, 2021. The article was updated to correct minor grammatical errors and for … Read more