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Salary Expectations - Know What's Reasonable
 
 
Knowledge is power. Managing expectations is also necessary. Physicians need to have a ballpark idea of what reasonable for their specialty.
 
The Medscape report below shows women are still underpaid by about 41% across all specialties and at least 21% in primary care. Other studies show that this continues even with comparable work schedules & duties. That lifetime gender pay gap, along with the loss of compounding interest had that money been invested, is simply staggering.
 
It's time for all physicians to do their homework. Is what are you being offered what you are really worth? Medicine is a business and you are your number one product.
 
 
Are you putting yourself "on sale"?
 
 
Listed below are resources you will find very helpful if you are hiring or looking to be hired:
 
Physician Compensation Report 2013 by Medscape - If you don't have a free Medscape account, sign up. This site gives general physician salary comparisons as well as links to specialty specific survey information. Be sure you go back and check out both reports!
 
Physician Compensation Survey by the American Medical Group Association (AMGA) - This will give you the median income of those in your specialty.
 
MGMA 2011 Physician Compensation Survey is by far the most comprehensive of its kind. (I've linked you to the highlights, but it is worth spending a couple of hundred dollars getting the full survey when thousands are at stake.) It has the most specific breakdown of compensation, on-call duties, etc. further broken down by practice size, method of compensation, geographic region, etc. NOTE It is important to understand how compensation is broken down, look at the table of contents for all their reports - it wil help you to market yourself better if you understand how compensation may be determined.
SK&A, a medical marketing company, compiles an composite salary report entitiled US Physician Compensation Trends which includes the salaries for Men vs. Women.
 
The Report on Medical School Faculty Salaries, published by the American Association of Medical Colleges, is released at the end of January each year.
 
www.salary.com and www.payscale.com will give you a quick guess-timate of salary and benefits you can expect.
 
www.glassdoor.com will give you the inside scoop regarding pay, interview questions & work environment at large employers by current and past employees.
 
200 Statistics on Physician Compensation Gives the breakdown by specialty
 
 
It's also important to know how much you should be paying your staff:
 
Physicians Practice Staff Salary Survey 2012 gives salary averages for RNs, Nurse Managers, PAs, NPs, MAs, Front Desk Staff, Medical Biller, Billing Managers, and Medical Records Clerks.
 
 
NOTE: OMM International has no business relationship with any of the companies listed above, we are strictly providing this information as a service to our customers.
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