6 Things To Consider When Negotiating Your NP Contract
The details of an employment contract are essential. A good place to start is to ask if you can review your mentor’s contract. This may help you identify what is important for you and what might not be as important. Here are SOME of the items that you should consider addressing in an employment contract:
Salary (annual, hourly, performance-based, profit-sharing, overtime)
If you haven’t already visited the career insights center at Daily Nurse, head over now for information on the average salary for your new role in the region you’ll be working in. This will help you to understand the financial range to look for!
Benefits (health; vacation, holiday, sick, and personal time and coverage; pension)
Besides salary, benefits must be clearly delineated in your employment contract. The most critical benefits to be included in an employment contract are health insurance and related benefits; vacation, holiday, personal, and sick time and coverage; pension opportunities; and disability arrangements.
Hours (office, hospital rounds, home care, nights, weekends, holidays, call)
Your contract should specifically state the amount of any combination of these hours you will be required to work. Be sure to clarify loose language such as “some weekends”. Also, clarify how overtime is managed. If you’re a salaried employee but work extended hours on a regular basis it has a huge impact on your quality of life. You’ll want to ensure you’re comfortable with the expectations and compensation.
Malpractice Insurance
Be sure to read our article on malpractice insurance. This could be an area for negotiation within your contract. Are they offering comprehensive coverage? Will they cover or reimburse for your separate policy? Be sure to get any agreement regarding this protection included in writing!
Tuition Reimbursement (continuing education, maintaining licensure, journal subscriptions)
These items may be a part of your offer or you may be able to negotiate to include them. Ensure the contract is specific regarding what is allowed and includes dollar amounts per year.
Annual Increases (reviews, rules for termination of employment)
Whether standardized or merit-based, make sure you understand the process of increasing your compensation as your experience grows and that you are comfortable with it. Also gain an understanding of what is expected if either party decides to end the employment relationship, including any restrictive clauses for your next role.
Derived from Fast Facts for the New Nurse Practitioner by Nadine M. Aktan. Buy today and save 25% with code NEWNP.
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