Doctors, skilled in diagnosing and treating illnesses, often find themselves less prepared for financial negotiations, a topic typically not covered extensively in medical education. This article focuses on helping physicians navigate the intricacies of salary discussions. It acknowledges the common concerns physicians have about effectively expressing themselves during physician salary negotiation, aiming to equip them with the necessary skills to secure fair compensation for their work without overstepping boundaries. The guidance provided is aimed at understanding how to negotiate a doctor’s salary and employment contracts successfully.
How to negotiate a physician employment contract?
Medical students who complete their long and laborious medical education are often willing to reach their doctorates as soon as possible. They must learn about contract negotiations to secure their desired medical position in a hospital. Listed are a few things a physician needs to do before the negotiation.
Have pre-knowledge
Newly graduated physicians should research common interview questions and industry terminology to negotiate confidently. We collaborated with healthcare hiring managers to create a questionnaire on common interview questions. Below are a few of the ones that matter:
- What is your intention to join our institution?
- How do you see yourself in the next 3-5 years?
- Can you tell us about your professional experiences?
- Why did you decide to change your current position?
The survey participants who were physicians identified responses and attitudes to avoid during interviews:
- Gaining a name or fame as their reason for becoming a doctor
- Having no specific interest in any of the medical fields
- Boasting
- The intention of getting into the hospital was merely to help the organization
Listed responses and attitudes will probably not be welcomed during employment negotiations. To create a positive atmosphere and boost confidence, demonstrate the following:
- earnest attitudes,
- a clear mind,
- kindness,
- ambition,
- a good level of patience,
- and communication skills.
Make sure that everything is written on paper
In job conversations, especially in private practice, the employer can promise you non-salary pay and many things not included in the contract about your salary, benefits, working conditions, or shifts. Unfortunately, many newly graduated meds view these pledges as great opportunities and jump in without considering the agreement. It is one of the biggest mistakes you can make during employment negotiations. Anything that is not written in the paper is not legally secured. Ensure your employment contract covers health insurance, salary, entitlements, and shift hours. If you do it, you will prevent possible confusion and offer yourself a healthier work life.
Learn the difference between salary and compensation
Distinguish salary and compensation, and specify them separately in your employment contract. An optimal compensation includes salary plus commissions, non-salary pay, benefits, and health insurance. On the other hand, salary is the payment from your employers because of your work during the shifts. Thus, you should not just only look for the salary but also for your expected non-salary compensation in the contract too.
Moving on to the salary negotiation
When you are okay with each detail of the employment paper, you need to seriously go into the wage negotiation, which is the financial track of the professional interviews.
Tips for physician salary negotiation
Being compensated for your efforts and dedication is essential to have a long-term career and job satisfaction. Physicians should be able to express their needs in the appropriate and formal language during salary negotiations to achieve a rewarding payment. At the same time, they would not want to seem demanding, which may give a negative impression to the managers. This section will offer valuable tips to remember through your salary negotiation.
Master the current market value
The fee you will receive for your services in the position will be defined by your educational degrees and geographical factors. Researching salary ranges for similar positions in other firms helps determine a suitable range to request in the interview. The easiest way to learn about the variety of physician salaries offered for the relevant position by the institutions around you is through social platforms. Most practicing physicians who participated in our interview stated that LinkedIn, Glassdoor, and PayScale are the common suitable sites. Besides, Doctor Jobs Today is also a perfect site for you as a physician to look at the average wages of a medical position. Ask industry representatives about current call payment frequency with ease.
Identify your target audience
Consider the hiring managers’ demographics and the hospital’s culture before your financial interview. You also need to show up to your manager too. Positive feedback from your team and superiors can boost your prospects. Especially in your salary increase requests that you will demand during the continuation of your career in the hospital, not during the recruitment process. Proving your value as a physician increases your bargaining power.
Maintain your professionalism
You always need to maintain your professionalism during salary negotiations. Keeping your chill and expertly continuing the interview even in front of offers that excite or disappoint you reveals to the managers that you also have a work ethic as a physician. Also, be sure to prepare your response for a bid without making your potential boss wait too long. Act fast and communicate changes to increase chances of securing the desired position.
Closure
Employment contracts are official papers that will safeguard your civil liberties in case of potential problems and confusion in the working environment. Protecting yourself legally is crucial for job security and career growth, despite managers being polite and accommodating. And receiving the salary you wish for is a natural factor for you as a physician. During salary negotiations, present your points confidently and respectfully while paying attention to key details.
Are you a General Practitioner, Aesthetic Physician, or ER Doctor looking for a new role in the healthcare industry? Here at Doctor Jobs Today, we provide the most reliable and well-curated vacancies from the best medical institutions in Malaysia. You can also access various recommendations and guidelines to help you stay on track. Get your CV ready and find your future career in Doctor Jobs Today, now!
—
Doctor Jobs Today is the first job-seeking platform in Southeast Asia dedicated to serving the job searching needs of healthcare professionals. We have created a space to connect employers and medical job seekers seamlessly. As part of the healthcare community, we aim to cater to medical doctors for their vacancy inquiries better than traditional job portals. So here, you will only get job options that are relevant to you, sourced from the prestigious healthcare institutions in the country, because we are just as picky as you are!
Doctor Jobs Today has all the right vacancies you’re dreamed about: a higher salary, a better-equipped hospital for your specialisation, or even a career shift from patient care.
If you feel like your educational and professional experience has not been sufficient to make your CV pop, expanding the network to other healthcare professionals to practise peer-to-peer learning might be the answer. One of the ways to do it is by joining a social platform for healthcare professionals, such as Docquity.
Docquity is an AI-based state-of-the-art private & secure continual learning network of verified doctors, bringing you real-time knowledge from thousands of doctors worldwide. Today, Docquity has over 300,000 doctors spread across six countries in Asia.
Meet experts and trusted peers across Asia where you can safely discuss clinical cases, get up-to-date insights from webinars and research journals, and earn CME/CPD credits through certified courses. All with the ease of a mobile app available on Android & iOS platforms!
