You are flying home from a job interview and this is it. You are in the last year of your medical or surgical training and you are a couple of months away from finishing. Ah. Finally. This is the perfect job. The location’s great, pay is terrific; it is the practice style you want. And, when you asked if it was a partnership track, they said yes. Priceless.
Have a drink and prepare for some turbulence.
This is what you are thinking: I’ll make the same as everyone else, even the senior partners. I’ll get the same perks. I can’t be fired. My vote counts. I am an equal.
This is what I want you to think:
* How many years is it to partnership? 1 year or 5?
* Is there a buy-in, how much, and how is it executed?
* Are there different classes of stock and partnership?
* What do I get for partnership? What happens if I leave?
* Is there a buy-out? If so, how is the practice valued?
* Is there anything that will make my total package different from that of the other partners?
* What can prevent me from being offered partnership?
* How many other partners are there? If I have a vote, what does...
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