The Art of Contract Negotiation

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The Art of Contract Negotiation

• Bucky Boaz, ARNP-C

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Up Front Tips

• Your power to negotiate
• Prepare for the process
• Timing
• Listen well
• Everyone should win
• Put it in WRITING

3
Compensation

• Salary
• Hourly or salary
• Overtime
• Bonus/Incentives
• Retirement Plan

4
Benefits

• Time Off
• Vacation
• Holidays
• Sick Leave
• Continuing Education Time

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Benefits

• Insurance
• Malpractice
• Health
• Disability (short/long term)
• Life

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Benefits

• Continuing Education
• Time off (paid)
• Reimbursable expense

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How Much Am I Really Getting?

• Hours per week
• 40 hrs/wk x 52 wks 2080 hrs/yr
• Salary / 2080 hr rate
• Exp 70,000 33.65/hr
• 50 hrs/wk x 52 wks 2600 hrs/yr
• Salary / 2600 hr rate
• Exp 70,000 26.92/hr

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How Much Am I Really Getting?

• Part time salary
• Hrs/wk x 52 wks annual hours
• 5 days 100
• 4 days 80
• 3 days 60

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How Much Am I Really Getting?

• Retirement
• 401
• of matching
• Profit sharing
• of contribution
• Whats it mean?
• 70,000 3 match and 5 profit 75,600

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What Should You Mandate

• Vacation
• Average 2 wks/yr for first 3 yrs, then 3/yr
• Malpractice insurance
• Cover x 2 yrs post employment
• Health Insurance
• Either free or available for you to purchase
• Continuing Education
• Paid time plus expenses (min 1000)

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Example