Avoid the all or nothing deal; it’s too much of a gamble. Also, don’t expect to see this option with a small, democratic, private group. Most don’t have the profit margins necessary to fund this kind of deal, even on a long-term basis.

And equal equity ownership groups are going to be hesitant if it was not provided for the owners in the past. These kinds of groups have more profit-derived dollars to offer that can potentially be even more lucrative down the road.

Hourly salary

Many candidates hear the hourly and stop listening. Big mistake! Guaranteed salaries are hard to find these days, and the really high ones ($225 to $300 an hour) are usually in location-challenged areas where money is the only sales lure they have to offer. It is also usually in lieu of bonus pools and RVU-driven compensation that can sometimes add up to even higher levels of earning.

Most employers are going with a multi-level compensation program that starts with a guaranteed hourly base that is supplemented with incentive earnings and benefits. These guaranteed hourlies can be shift-based, with higher dollars available for nights, but the shift differential is a tired trend that is, in my opinion, on its last legs.

To realize true value, look for a base that is commensurate with norms in the area and, when added into the full package, creates a strong comp figure in exchange for the work. Make sure you are not required to work an unusually high number of hours annually to earn the max income. Full-time clinical in the private sector averages around 1,400-1,600 hours.

Benefits

These are a disappearing commodity. In the good old days you had paid vacations and health coverage and disability and all sorts of cool stuff that added as much as $65-$70K to your package. Now? Not so much. If you take on a position as an independent contractor, this category is moot – there are no benefits except malpractice coverage – end of story. As an employee, the most important benefit you want to look for is strong health care coverage for you and your family, hopefully including dental and vision and prescription options.

That’s where the true value lies. Disability is attractive, but it is mostly available to a hospital employee or employee of a large group. It also has to provide a serious income if you are permanently disabled and can’t work.