Pillars of Wealth

Over your career you’ll likely sign several employment contracts. Most people are aware that employment contracts specify their compensation, but they’re unaware that such contracts cover much more.

In this Module we explore various clauses you can expect to encounter in an employment contract: Compensation and Benefits (health, disability, life insurance, vacation, on-call duties, etc.); Legal Clauses (termination, non-compete and non-solicitation, integration, etc.); Path to Ownership Stake (if employment is with a private practice); Medical Malpractice Insurance

Administrators at hiring institutions often describe their contract as “standard” or “the same one everyone gets.” Most candidates interpret this as meaning that the contract cannot be negotiated. But that’s not always the case. As long as you do so politely, you should not be shy about questioning the wording of a contract and/or requesting changes.

Your first contract sets a baseline for all your subsequent employment terms. Make sure it’s a good one.