Medical Employment Service
800-538-1568

Negotiating a Contract

Many times, while negotiating compensation packages for physicians, we find that our candidates have a tendency to want to play "Hardball" in an effort to get the best deal they possibly can. Under some circumstances, this type of negotiation can net the desired result. However, in many instances, this tactic only serves to create friction between the physician and prospective employer, straining relations and creating a less than optimal start when the physician begins his/her new position. There are times negotiating "hard" results in a breakdown in negotiations, killing the deal. In some cases, asking for too much, too soon means the physician never even gets to see the contract.

      Knowing how much negotiating power you have in a given situation is the key to successfully playing the "Hardball" game. The demand for physicians in your specific specialty, and the needs and/or availability of candidates in the community, will determine just how willing a prospective employer will be to negotiate compensation packages for physicians.

Rules of Thumb

To optimize the ability to negotiate the best deal possible, we suggest the following:

1. Assume that everything is negotiable and be prepared before you proceed. Research the demand in the area, and keep good records of the results of the verbal negotiation process.
2. Operate within a settlement "range", and make sure going in a range that is acceptable to you.
3. Utilizing a third-party to act as your negotiator can save a great deal of embarrassment to you. (An experienced recruiter is generally of greater use than an attorney or CPA). Especially, in the event you are asking for something perceived as unreasonable by your prospective employer.
4. Always look for a win/win situation. During negotiations, display controlled emotion, do not take it personally and NEVER get angry. Answer questions with questions, so you don't give away too much information.

Remember!

Don't forget these three important points

5. If there is room for more money in a compensation package, the request should be made once, and once only. Continually going back and asking for higher compensation is a deal killer. It is generally in your best interest to negotiate compensation at the tail end of the process - not in the beginning.
6. Set deadlines for the other party, but always put a cushion in the deadline, realizing that the party setting the deadline can always change it. Accept when the time is right, and get your agreement in writing.
7. If you have an agreement, finalize it! "Nothing improves with the passing of time".