I am fresh out of fellowship and considering 2 offers. One is employed and offering me $Y. I like the city and the group. Call is q6. 4.5 day work week. This is base salary for say 3 year contract plus incentives and productivity bonus. I'll be doing what I was trained to do for about 40-50% of the time and other general medicine duties for the rest and balance seems good to me.
The second offer is PP. The starting salary is $0.5Y for the first 1.5 years after which I can be partner and my salary becomes $Y (same as the employed model – the group said it doubles and supposedly increases every year but they won't elaborate on the specifics). There are 2 buyins – one for the practice and one for the ASC. The practice buy in is 25-30% of my salary at starting (I won't need to take a loan as I have that cash available from my SO). The second buy in is for an ASC. I don't know what the number for that buy in but will be based on revenue of previous 12 months. My understanding is that this information will not be available to me until I'm up for partnership. I'm assuming about same as my starting salary (i.e. $0.5Y). The benefits are good. They have a great matching plan which kicks in at 1 year. Call is q9 with a 4 day work week. The group was really well spoken about when I talked to my fellowship mentors. I will be providing a service which the other group members covet.
So here are my concerns. With the limited information I really can't see PP being more lucrative while tying me down to one place. The employed gives me the potential for upfront money which with sound investments would yield a good return. I also have the ability to walk away if I don't like it or life situation changes.
10years Employed: $10Y plus productivty
PP: $8Y for 8 years plus $0.75Y for 1.5 years minus 0.25Y minus (1st buy in) minus 0.5Y (second buy in)
Total: $8Y ( not calculating loan interest).
What am missing?
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