Physician Leadership Program-article

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In this article, Shawn S. Sidhu and Jessica Jeffrey discuss the importance of contract negotiation for academic psychiatrists. They highlight the variability in experiences for residents and fellows in their last year of psychiatry training and the need for practical advice to assist with the transition to practice. However, not all departments are equipped to effectively provide this guidance. The authors provide a comprehensive overview of contract negotiations, specifically geared towards trainees and faculty members at academic institutions. They discuss the reasons to negotiate with potential or current employers and the quantifiable rewards that can be gained through the negotiation process. They also emphasize the establishment of a healthy workplace relationship with departmental leadership.<br /><br />The authors then delve into the specific aspects of contract negotiations, such as negotiating salary and other terms. They discuss potential determinants that influence academic salary, including services provided, funding sources, and academic prestige. They provide data on average salaries for psychiatrists and highlight the importance of considering the total compensation package being offered, rather than just salary alone. They stress the need for negotiation not only in terms of salary, but also in areas such as relocation costs, health and malpractice insurance, and professional development opportunities.<br /><br />The article also provides guidance on how to prepare for a negotiation meeting, including researching the potential employer and considering backup plans. It suggests framing a negotiation position in writing prior to the meeting and discusses the importance of separating people from the problem during negotiations. The authors outline several negotiation strategies, such as focusing on interests rather than positions, inventing options for mutual gain, and insisting on using objective criteria.<br /><br />Overall, the article highlights the importance of contract negotiation for academic psychiatrists and provides valuable guidance for trainees and faculty members navigating the negotiation process.

Keywords

contract negotiation

academic psychiatrists

residents and fellows

psychiatry training

transition to practice

practical advice

academic institutions

negotiating salary

total compensation package

negotiation strategies