How to Negotiate Your Contract, Like a Boss

Many professionals find the idea of engaging in contract negotiation intimidating. For this reason, many skip it all together and accept what they're offered, or they negotiate very minimally.

 At this point, I have negotiated a few contracts to lend some insight on how to negotiate your contract to get what you want, what is fair and what you deserve. 

To Negotiate like a boss, especially if you're female, will take some mindset changes. Here I've outlined a few ways to successfully Negotiate your contract and get what you want.

1. Say NO

One of the greatest inhibitions in asking for your market value or what you think you're worth is the fear of rejection. Once you can get passed this fear you can move on to the negotiating table. Understand that the real Negotiating doesn't start until someone says no! Never just accept what you're being offered. Quite often contracts are written with wiggle room for that reason.  The goal of negotiating is to reach an agreement with someone whose interest may not necessarily be aligned with yours. In this context the word no is not a negative thing but offers grounds to problem-solve and come to a consensus and an agreement. The alternative is being stuck in a job with individuals who are happy to place their needs above yours. 

2. Ask for More Than What You Want

It's a much better negotiating strategy to ask for more than you actually want or think you will get. Allow each party to say no a couple times before saying yes. People aren't necessarily happy when they get what they want. Think about it: You sit with your potential employer and say " I would like a 10% increase from my previous salary and a corner office" and his/her immediate response is "Sure, no problem!" You will likely suffer from buyers' remorse and wonder if you should have asked for a 20% increase instead. 

3. Be Willing to Walk Away

A lot of negotiating is a mind game. The greatest bargaining advantage goes to the person who is perceived to have the least to lose. Establish your deal breaker or bottom line and be willing to walk away from a deal (or say you will). If you at least act like you're prepared to walk away if your bottom line isn't met then the other party will be more incentivized to meet your requirements. 

4. Get a Lawyer

You have looked over your contract thoroughly but you need a second pair of eyes on it. There may be some legal jargon that you don't understand or have over looked. A lawyer will be able to point some things out to you that you may have missed and can even negotiate on your behalf. In my experience it has been worth the money pay a lawyer to do some of the heavy lifting for you.

I know contract negotiations aren't always easy. You must ensure that you ask the right questions upfront, learn to say no, don't get bullied into signing on to something you will regret later and be willing to walk away. At the end of the day, make sure that you are getting a fair deal.

What I Learned In My First Year of Being an Associate Doctor

After the completion of residency, we have a couple options: Practice ownership or associateship. I am one of those that chose the latter. My goal was to gain a few years of experience before taking the plunge into being "the boss" and just like with anything else I learned some valuable lessons along the way. Here are a few:

1. Fully understand your contractual obligations before signing

This is one of the most important parts of starting your new associateship. It sets the tone for the next year+ of your professional life. The contract is a legally binding agreement so do your due diligence and ensure the terms are mutually beneficial.  Have an attorney read through it before signing. This is very important! If there's something that you do not agree with, do not sign. (More on contracts in a subsequent post). 

2. Patient first! Despite any circumstance

 You are the doctor and your duty is to your patients! If anything disrupts patient care, it should be discussed with your employer.  Employers hire associates for various reasons. Those reasons could range from the employer slowing down/phasing out or simply to grow the practice. In situations of growing the practice, make sure there is a healthy balance between increased patient load and quality of care. If you feel the volume of patients is preventing you from offering the best quality of care to your patients don't be afraid to discuss it with your employer. Ultimately your license is at stake. Patients first.

3. Have and keep a good rapport with the staff and other doctor(s), but do not fraternize.

Remain professional. You are in a professional environment and should act accordingly at all times. Be courteous and friendly but not too friendly. There is a level of respect that you first will have to earn and then maintain. Being too friendly and/or fraternizing can send the wrong message and opens the floor up for disrespect. Do not allow it. Conversely, you may not always like everyone, but you certainly should make an effort to "get along" with everyone. Trust me, it makes life less stressful and the days go by faster.  Your staff can be your biggest asset when they are fully invested in the practice. They are human beings with lives outside of the office too. Some things that really go a long way are remembering birthdays and  anniversaries, treating the staff to breakfast or lunch on occasion, giving gifts at christmas, etc. Those little things can go a long way toward a healthy work environment. Keep it light, keep it fun but keep it professional.

4. Be nice, but be firm.

Be respectful, kind and courteous but also maintain boundaries. Keep in mind that you are not the boss, you are an associate and some staff members will try to push their limit, do not allow this. On the contrary being mean can destroy your relationships with staff and sometimes the patients. You have your reputation to uphold so protect it!!

5. Learn to say NO.

Those words should be utilized in life and in the workplace.  If you are uncomfortable with something it is your duty as a practitioner to speak up.  There is a tendency for some employers to push to see how much they can get out of you. As young professionals we want to look good to our employers but know your limits and exercise them. The lesson to be learned here is Your license is at stake.