Career and Life Planning Guidebook for Medical Residents

will help set the tone for successful negotiation. This is contrasted with a candidate who positions themselves in a negative light by saying, “I have many offers on the table with significantly higher compensation. I hope you can pay me what I’m worth”. 2. Flexibility – Being able to adapt yourself quickly to changing circumstances and challenges without panic or loss of temper is key both in medicine and contract negotiation. You spend hours each day learning how to be prepared for the unexpected; this tool can serve you well in the negotiating arena as well! Flexibility should be displayed throughout the interview process, including the phone interview, onsite interview and post-interview, contract negotiation, and of course, throughout your employment. Being flexible means that in every situation you consider meeting the other party’s priorities, which gives you leverage in acquiring your priorities. The ability to listen to the employer’s needs and concerns and demonstrate your flexibility will have a positive impact on the negotiation process. For example, if you show your understanding of an employer’s perspective by saying, “I understand Dr. Smith’s concern, what are your thoughts if we…” you display an ability to compromise, which is crucial to developing a positive relationship with your future employer. 3. Sincerity of Purpose – There is no substitute for real commitment to your defined major purpose. Sincerity of purpose – or lack thereof– writes itself so indelibly into your words and deeds that anyone can recognize it. Napoleon states, “Andrew Carnegie told me once how he called a new employee into his office to issue a directive. The man listened, then looked him squarely in the eyes, and with a good-natured smile said, ‘you are the boss, but I feel confident that your request is going to cost you money unless you investigate the matter more closely.’ Napoleon continues, “Something about his assured manner, with no hint of insubordination, convinced Carnegie to delay his decision and investigate further. He discovered that he had been wrong, and the new employee was right.” The higher the guaranteed salary an employer offers a physician, the less likely the physician will maintain that same salary once the guarantee period ends and the physician transitions to a production-based compensation plan. This is important because physicians who do not maintain or increase their income as they transition into a productivity-based salary are more likely to leave that position in search of a higher salary. How do you think a potential employer would respond to the candidatewho presents the following plan when negotiating a higher starting salary and demonstrating an understanding of the importance of productivity thresholds? Based on your production model, generating 8,500 RVU’s annually will increase my earnings by $35,000. My plan is to surpass the annual 8,500 RVU threshold by generating an additional: XX per quarter XX per month XX per week XX per day XX per hour There is no guarantee the employer will increase the candidate’s guaranteed salary by $35,000; however, the candidate will position themselves in a positive light…hearing a candidate communicating the importance of productivity, the understanding of the production formula, and his/her plan to reach the threshold will be music to the employer’s ears. The Art of Physician Negotiation 289 WWW.PHYSICIANCAREERPLANNING.COM