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Doody's Review ServiceReviewer: David O. Nichols, BS, MBA (University of Alabama at Birmingham)
Description: This book is a useful tool for physicians who are looking for easy-to-follow steps in the negotiation process of a compensation package. It offers sound, practical advice that, when followed, should lead to a compensation arrangement that is satisfactory to both the physician and the employing organization.
Purpose: The purpose is to offer a methodology to walk through the entire compensation negotiation process.
Audience: This book is written for recent medical graduates and seasoned physicians who are looking into an employment arrangement with any organization offering a base salary-type package.
Features: This book explores things to think about before considering a job offer (i.e., personal values, etc.), as well as steps to go through when negotiating a salary package. Worthwhile examples to work through are included in the appendixes. A very sound, unemotional process is provided for what can otherwise be a very emotionally charged issue. Good practical advice and great examples are given. No aspect of the compensation negotiation process is left uncovered. The appendixes are very useful and the reader should be encouraged to walk through each carefully. Many compensation plans which include incentives or bonus payment do not address how said pay out will occur when the physician terminates the employment contract. This book would be complete if it included how the contract should address this topic.
Assessment: The strength of this book is how quick a read it is. In one short hour, you can learn the essential components of a compensation package — and how to negotiate for what is important to you.