2025 Trends:
1. Signing Bonus
Bonus staying around 2024 Levels, however the clawbacks seem to extended for a longer period of time.
2. Negative Accrual
I do not see many Contract/EA’s with negative accrual. However, if negative accrual is in the Contract/EA, it is important to undertand how it is defined. One important question to ask – is the base salary guaranteed?
3. Interviewing Process
From what I have seen with my clients, about 50% are willing to pay for the travel expenses of candidates’ partners.
4. Hospital Size
It seems that this year residents in general are more willing to consider smaller to mid size hospital.
5. Specialty Hospital Landscape
I continue to see more privately owned, smaller hospitals open up across the country.
Please let me know if you have any questions! I can be reached at 804.833.0585 or [email protected]
2 Important Terms
1. Clawback
A clawback is a contractual provision requiring that money that has already paid to an employee must be returned to an employer. This is commonly seen with signing bonuses in the veterinary industry. So if a doctor accepts a signing bonus there is typically a “clawback’ in the contract/EA that states that the doctor must repay the signing bonus if the doctor does not remain an employee for a certain period. Sometimes the “clawback” is prorated, sometimes not. It can but does not necessarily align with the length of the contract.
It is important to understand all implications and terms of the clawback, including any taxes paid on the bonus.
2. Retention Bonus
A retention bonus is a financial incentive paid to an employee to encourage then to remain with the hospital for a specified period. It is typically paid in a lump sum at the end of the retention period. These bonuses are considered supplemental wages by the IRS and taxed accordingly.