Financial Principles for Surgeons Ep. 5: Contract Negotiations with Dr. Jill Streams
Behind The Knife: The Surgery Podcast
Behind The Knife: The Surgery Podcast
4.8 • 1.4K Ratings
🗓️ 7 July 2022
⏱️ 57 minutes
🧾️ Download transcript
Summary
In this episode we cover
-When/how to apply for your first job
-Break down each part of a contract
-Why you should negotiate
-What and how to negotiate
-Salary expectations
-Contract landmines and more!
You can connect with Dr. Streams on Twitter @JCRStreams
Read more at WCI https://www.whitecoatinvestor.com/things-to-ask-for-in-a-physician-contract/
Please visit behindtheknife.org to access other high-yield surgical education podcasts, videos and more.
Transcript
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| 0:00.0 | When you can't quite get the angle, take hands-free selfies with the Samsung Galaxy Z Flip 5, |
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| 0:20.9 | Behind the night, the surgery podcast, relevant and engaging content designed to help you |
| 0:27.0 | dominate the day. Welcome back to Behind the Night. Today, we're continuing our financial series, |
| 0:40.7 | and we're lucky enough to have Dr. Jill Streams, who's going to talk to us today about |
| 0:44.2 | finding and negotiating your first job. Dr. Jill Streams is a trauma and acute care surgeon and |
| 0:50.3 | assistant professor of surgery at Vanderbilt University. She has a passion for personal finance, |
| 0:55.1 | and we're lucky to have her here to share her wisdom as it comes to finding the job and |
| 0:58.9 | negotiating your first contract. Welcome Dr. Streams to Behind the Night. |
| 1:04.0 | Well, it's wonderful to be here. Thank you for having me. |
| 1:07.2 | So Dr. Streams, why are surgery trainees so ill-prepared at evaluating future jobs and negotiating |
| 1:13.5 | their contracts? I think first and foremost, medicine and surgery are very different from the |
| 1:19.3 | business world. And so many surgical residents have never had a job that required any kind of |
| 1:25.6 | business skills or negotiation skills. And really, they were never, for the most part, advanced |
| 1:32.4 | in the business world, whether we're negotiating contracts for bodies of work. And so, even though most |
| 1:39.6 | of our residents come through relatively straight through, there are a few that have had different |
| 1:44.9 | kinds of jobs, but get in, again, most of them not in the business world. So when they enter |
| 1:50.7 | residency, a lot of the terms of their employment are very tightly regulated by the ACGME. So things |
| 1:58.2 | like duty hours and benefits and all of those kinds of things, they're basically given a contract |
| 2:05.4 | assigned. When you match into residency, there's no negotiation. You assign it and you start working. |
| 2:12.0 | And those regulations are great because they protect trainees. But at the same time, |
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