Compensation Decision-Makers

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Negotiation Process

B. COMPENSATION DECISION-MAKERS Figure 8 details the common compensation decision-makers that physicians will encounter based on their employment setting.

FIGURE 8: Compensation Decision-Makers

C. NEGOTIATION TACTICS A successful negotiation is determined by the amount of preparation a physician commits to before interacting with the compensation decision-maker. The list below includes factors that should be considered prior to a negotiation.

• Determine the goal of the negotiation.

• Identify a specific concern(s) to address.

◦ A multivariable negotiation allows for several levers that could be adjusted when discussing alternatives with an employer.

◦ Below are some examples to consider when identifying your own concerns.

• Define all responsibilities and the associated effort/time to perform each responsibility. • Determine the source of funding for each current responsibility that was defined (as possible). • Determine if there is adequate time to successfully meet all expected responsibilities. • If employed at an AMC, identify any protected time that is allocated to assist with advancement in academic rank. • If involved in strategic projects that promote an institutional goal, determine if there is any monetary compensation if the goal is achieved. • If representing the institution locally, nationally or internationally, determine if there is compensation or protected time that can be established for the effort. • Explore the ability to include in the contract the specific responsibilities and associated allocated time that can be revisited annually for possible adjustments in compensation when effort changes.

• Understand any processes or procedures that are established at the organization regarding compensation negotiations.

• Know how your experience and credentials align with the needs of your employer. Articulate why you deserve the change in compensation.

• Utilize published benchmarks to demonstrate how you compare to peers (e.g., geography, subspecialization, academic rank).

• Consider alternatives that could be proposed.

• Consider the employer’s perspective.

• Consider possible constraints the employer will raise.

• Be willing to compromise.

• Build trust and avoid emotional confrontation.

• Never make or accept the initial offer.