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Incentives and Employment Enticements: Looking Beyond the "Standard" Faculty-Position Offer
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MedCenterToday Check List: Job Offer Incentives for Physician Candidates

(Based on the MedCenterToday.com article Incentives and Employment enticements: Looking Beyond the "Standard" Faculty-Position Offer  by Bonnie Darves in Faculty Compensation and Employment Contracts)



Once there is a good grasp of annual salary during conversations with recruiters, you should ask what other incentives (financial and otherwise) are being offered to faculty candidates? Thematic issues for
Academic Med Center faculty offer letters are incentives that are--or might be--negotiable. These may include:

- Can a minimum salary be guaranteed beyond two years and is the organization willing to offer a higher sign-on bonus to make the position more competitive?

 

- Will the institution provide assistance with extraordinary relocation expenses or issues, from moving a research library to assisting a spouse with introductions to prospective hiring entities or finding schools for the children?

 

- Will the organization agree to provide the resources--in the form of financial, support staffing, and equipment or facility infrastructure--to help ensure the new faculty member's potential success?

 

 

A Check List of Standard Incentives may include:

 

  • Moving expenses.
  • A small sign-on bonus.
    Expenses to cover house hunting trips.
  • A guaranteed minimum salary for the first year or two.
  • The sharing of a secretary with other faculty members in the department, clinic, or school.
  • Assistance to a spouse in finding employment by creating introductions.

Expanded incentives might also include:

 

  • Larger sign-on bonuses.
  • Guaranteed minimum salary for the first three years with predetermined annual adjustments.
  • Partial or full medical school loan payoffs.
  • Full-time private secretary.
  • Assistance with getting children into private school.
  • Guaranteed spousal employment elsewhere in the Med Center complex.
  • Guaranteed research and lab space of a particular size (4,000 square feet).
  • Renovation of any type of space (office space or research space, or clinical space like an endoscopy suite, etc...).
  • Research project seed money.
  • Faculty recruitment incentives for others you plan to recruit.
  • Financial and other support for research fellows.
  • Pay mortgage of old house until it is sold.
  • Pay rent at the new location you are moving to for a year
  • Housing relocation allowance to buy into an expensive market.
MedCenterToday.com staff.

Print Check List

    Also of interest...
 

Incentives and Employment Enticements: Looking Beyond the "Standard" Faculty-Position Offer For academic clinicians or researchers taking a first faculty position or considering a move to broaden their skills or explore other interests, salary and compensation are important considerations, but they usually don't top the list.  Read the full article in MedCenter Consult.

 

Compensation Packages and Incentives Vary when Recruiting Academic Med Center Deans and Chairs The potential pool of qualified candidates for academic center top spots--deanships, & department chair or division chief positions--remains somewhat outstripped by demand because, ironically, of the ever-growing skill set required to perform competently.  Read the full article in MedCenter Consult.


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