Navigating the Salary and Benefits Waters

One of the greatest challenges in looking for your first job is trying to make sense of the package of salary and benefits as well as the designated clinical, research and/or administrative time. Assessing salary is often challenging and discussion of salary is often a sensitive topic.

We have compiled several resources to help you start to think about the topic. It's important to remember that the salary is only part of the package that you are trying to negotiate, and you do not want to overlook other important issues, such as the protected time for research or other faculty opportunities you are offered, and the amount of clinical coverage you will be expected to contribute.

Get started with a powerpoint presentation - "It's closer than you think: It's time to get a job: Compensation" prepared by Eric Horowitz, MD, RD, FAAP.

» Merritt Hawkins & Associates produces a publication offering an overview of common physician compensation models.

» The Medical Group Management Association (MGMA) produces a compensation survey report including both national and regional survey results that is available for purchase.

» The Association of American Medical Colleges produces a report on academic physician salaries and ranges by specialty, rank and geographic region. Some program directors or department chairs may allow you access to their copy, or it can be purchased online. Your cost should be about $130.00.

A recent article in NeoReviews by two members of the Perinatal Section, Neonatology Job Search: Looking Beyond the Dollar Signs, reviews a number of factors that should be considered when negotiating your first (or subsequent) position out of fellowship.Please go to the Report on Medical School Faculty Salaries.

» Principles of Physician Employment - Update from the American Medical Association

Once you find your perfect job, the next step involves an agreement between your prospective employer and you. These contracts not only outline the terms of your employment, but may contain information regarding payment, termination of contract and additional rules that are standard or non-standard part of the offer. Consider engaging a contract lawyer to review these documents.. The American Medical Association recently published Principles for Physician Employment that could be helpful as you are reviewing your contract.

Most importantly, make sure to talk with someone about this topic. The fellowship director and fellows who have recently completed training at your fellowship program generally are great resources and a place to start..

Resources for TECaN

The TECaN Council members have developed powerpoint presentations with the goal of making all neonatal-perinatal medicine fellows aware of available resources, to generate enthusiasm and participation, and to disseminate information and collect feedback from fellows.

• Exploring and Evaluating Practices of Neonatal-Perinatal Medicine
• Coding for Neonatal/Perinatal Medicine Presentation
• What do trainees and early career neonatologists need to know
  about Maintenance of Certification?
• TECaN Social Media Resources
• How can TECaN help me in career planning? (i.e. find a job!)
• Educational resources on the section website
• Web Tools Slideshow