Sep 03

Recruiting Report: Signing Bonuses for Docs (and most salaries) up

The Wall Street Journal recently reported that hospitals and practices using a big recruiter to hire new doctors are making more frequent use of signing bonuses. For the year ended March 31, 85% of searches offered a signing bonus, which averaged $24,850. That's up from 46% of the searches in 2004/05, when the average bonus was $14,030. The data come from the latest report from Merritt Hawkins & Associates, and reflect more than 3,000 physician searches in 47 states.

The report also included some income guarantee/base salary averages from the searches. Here are the figures for the top five most commonly recruited specialties (they don't include benefits or productivity bonuses):

Family practice: $173,000

Family practice with obstetrics: $184,000

Internal medicine: $186,000

Hospitalist: $201,000

General surgery: $321,000

About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read more →