Depending on the demographics of the group, some benefit options will be more attractive than others. To understand which options doctors prefer, employers may want to consider examining their group of doctors. In addition to group preferences, employers should also take the time to get to know people’s needs. While many benefits offered must be the same for all employees under policy or law, some benefits, such as CME leave, CME expenses, and vacations, can be customized to meet individual needs. While money is pretty good in this career, long hours and time away from home can reduce the value enough to consider it an alternative job. If you love learning all the time, then being a doctor is one of the best career opportunities you could pursue.
For others, flexibility in the gig economy seems attractive, so they apply for “gig work” as a locum tenens doctor. The question you should ask yourself, even before conducting an interview with an employer across the country, is whether they offer a relocation allowance as a benefit. After all, packing all your stuff, your family, and your life is usually an expensive process. Be sure to ask Human Resources if moving and travel expenses are covered if you accept the job. The advantage of a competitive job market is that employers compete with each other for their interest, so you should have no trouble finding this advantage in the job search. Residents, on the other hand, cannot receive compensation for relocation.
In health care, these employer-sponsored retirement account names sound familiar, but most Americans are more familiar with a 401, Roth IRA, or traditional IRA. You can still open a Roth IRA or a traditional IRA as a doctor, but they are managed only by you and not by the custodian your employer has hired to manage to others. Either way, a retirement account is an essential benefit device industry news to look for when applying for jobs. If an employer doesn’t offer some kind of retirement account, that can even be a red flag. To help yourself plan responsibly for retirement as a doctor, consider hiring a financial advisor who specializes in working with doctors. Health and medical professionals earn competitive salaries and generally enjoy flexible work schedules.
Whether you’re still in training or a treating physician, there’s no doubt you have student loans. Fidelity, Google and New York Life are just a few of the country’s employers who make direct payments for student loans on behalf of their employees. And so, in order to attract new doctors and retain the current ones, hospitals and health care organizations often offer student loan debt assistance in their benefits package. Some can help you qualify for forgiveness of medical school loans, i.e., government programs. While others may offer programs within your organization to pay off your debt, but the programs come with unpleasant circumstances, that is, you qualify after working there for 10 years.
Mr Hartley noted that AMGA has seen some renunciation of the PTO or holiday pay for doctors working on production-based compensation plans. So, if you really want to make this big investment in your education, make sure you at least finish medical school so you can pay off your student loans within a reasonable amount of time. Most doctors say that the main reason they started practicing medicine in the first place was so that they could have a positive impact on the lives of others. When you are put in a position where your job is to care for the sick and wounded, it is a humiliating experience because you are helping people on some of the most difficult days.