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How to approach job change?

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  • Avatar Wash 
    Participant
    Status: Physician
    Posts: 27
    Joined: 05/29/2017

    I’m a couple years into my first attending job post-training and have one year left on my contract. It’s a good practice overall and more than likely I will be staying, but I think it’s a good idea to still look around at the opportunities. I have a couple questions in case I do find a good job I want to apply and interview for:

    – for references, I only have my current co-workers since I assume employers won’t be interested in talking to my attendings from training. What’s the best way to approach asking my coworkers if they will serve as references? Everybody is assuming I’m going to keep working here so would there be unexpected conflicts/problems if they find out I am looking at new jobs?

    – if I do stay with my current job, are there re-signing bonuses I should be asking for when resigning my new contract?

    #231194 Reply
    jfoxcpacfp jfoxcpacfp 
    Moderator
    Status: Financial Advisor, Accountant, Small Business Owner
    Posts: 8141
    Joined: 01/09/2016

    I’m sure you’ll get some tips here, but I don’t believe I’d recommend approaching co-workers for references for a job you haven’t found to leave a job you can’t leave (or, at least, shouldn’t, given that you signed a contract to stay 3 yrs and received a bonus in exchange) for another year.

    • OTOH, prospective employers will understand that you may not feel comfortable approaching co-workers and will likely give you a bit more latitude if you decide to continue with your job search.

    Next question: it’s all about the negotiations. For some, yes, there are re-signing bonuses if they make themselves valuable and part of a team and they are not easily replaced. For others, the owners, CEOs, etc. may be happy to let them walk and deal with any non-competes, if applicable. I have yet to review 2 identical contracts – they are all unique.

    This is my “outside” perspective, though. Hopefully, practice owners will have additional, more relevant insight to offer you!

    Johanna Fox Turner, CPA, CFP, Fox Wealth Mgmt & Fox CPAs ~
    http://www.fox-cpas.com/for-doctors-only ~ [email protected]

    #231200 Reply
    Liked by Kamban, Lordosis
    ENT Doc ENT Doc 
    Participant
    Status: Physician
    Posts: 3523
    Joined: 01/14/2017

    ^^Good advice.

    #231204 Reply
    Liked by jfoxcpacfp
    q-school q-school 
    Participant
    Status: Physician
    Posts: 2629
    Joined: 05/07/2017

    just tell the prospective employers you would like to keep it confidential for now.  no problem.

    you are close enough to training that references may be from attendings or even coresidents if they need something, but this would be unusual.

    your situation happens all the time.

     

    #231224 Reply
    Liked by Kamban
    Avatar Kamban 
    Participant
    Status: Physician
    Posts: 2489
    Joined: 08/01/2016
    I’m a couple years into my first attending job post-training and have one year left on my contract. It’s a good practice overall and more than likely I will be staying, but I think it’s a good idea to still look around at the opportunities. I have a couple questions in case I do find a good job I want to apply and interview for:

    Click to expand…

    I think you should start applying and interviewing a year before your current contract is up but be honest with potential future employers of your starting date, which is after the end of current contract.

    Interviewing will open up opportunities you never though were available. Better pay or better city or better working conditions. Or you might find out what you have is much better than what is out there now.

    In any case, having potential future offers strengthens your negotiating position when the renewal of the contract discussion start to take place.

    Don’t ask co workers now and let possible future employers know about the current situation.

    #231231 Reply
    Liked by MaxPower, q-school
    Zzyzx Zzyzx 
    Participant
    Status: Physician
    Posts: 198
    Joined: 09/24/2018

    everyone talks and it’s small world within physician specialties.  do not believe that any prospective employer will not contact your current employer (usually informally, you’d be shocked how everyone is connected to each other in some way) – so prepare for that and anticipate potential blowback if you start looking. asking your partners for references should only happen after you’ve accepted an offer in writing (note that an offer is not necessarily a contract).  do not ever even drop a hint that you might leave unless you have an offer in hand.

    if you stick with your current position, you should always be looking for a bigger piece of the pie – partnership buy in, more RVU’s/collections, ownership in ASC, etc.  Note that at only a few years into attendinghood you probably are just starting to become revenue neutral for them so you are not in a position of power, hiring a new doc costs a group several 100k depending on salary+benefits+taxes, equipment, staffing, overhead, etc.

    It’s psychosomatic. You need a lobotomy. I’ll get a saw.

    #231269 Reply
    Avatar Sean 
    Participant
    Status: Physician
    Posts: 96
    Joined: 01/15/2016

    Zzyzx, is the cost to bring on a new doc really in the hundreds of thousands?  I mean I realize there’s the capital outlay of salary, taxes, etc., but isn’t the overall increase in overhead attributable to the new doc only marginal compared to the existing overhead of a practice before the new doc joins?  This mild-to-moderate increase in overhead is more than offset by the net revenue the new doc brings in (depending on how quick the ramp-up is), isn’t it?  Otherwise, why would a group take on associates if the payoff took several years?  Just wondering.

    #231301 Reply
    Liked by Zaphod
    Jaqen Haghar, MD Jaqen Haghar, MD 
    Participant
    Status: Physician
    Posts: 202
    Joined: 07/27/2017

    I’m a couple years into my first attending job post-training and have one year left on my contract. It’s a good practice overall and more than likely I will be staying, but I think it’s a good idea to still look around at the opportunities. I have a couple questions in case I do find a good job I want to apply and interview for:

    – for references, I only have my current co-workers since I assume employers won’t be interested in talking to my attendings from training. What’s the best way to approach asking my coworkers if they will serve as references? Everybody is assuming I’m going to keep working here so would there be unexpected conflicts/problems if they find out I am looking at new jobs?

    – if I do stay with my current job, are there re-signing bonuses I should be asking for when resigning my new contract?

    Click to expand…

    I know every practice and specialty is not the same, but if I did something like this, I’m certain I’d find in a month or two, I would notice that I’m no longer scheduled for any shifts, and they’d be looking for my replacement (in that order).  But everywhere is different.

    #231306 Reply
    Avatar Wash 
    Participant
    Status: Physician
    Posts: 27
    Joined: 05/29/2017

    I work in a specialty taking care of chronic conditions. So I have built up a panel of patients and it is not shift work which makes it more difficult to replace me smoothly, I think

    #231432 Reply

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