New Dentist Compensation

Most new dentists I speak with ask rather quickly in our conversations about compensation. I don't recommend bringing this topic up immediately in your interviews, but it is an important point to discuss when exploring various opportunities.

Compensation offers do vary from place to place. When talking to other doctors, sales reps, or recruiters ask what they are seeing in your places of interest. Various factors affect what practices are willing to offer in their compensation packages. Some factors: number of dentists in the area looking for jobs (basic supply and demand); particular skills or experience levels desired by the practice; is the office fee for service or HMO/Medicaid driven; how badly does the office need the position filled.

As a new doctor you should be able to find an opportunity where you can make at $120K your first year. A common example of a compensation package is $500 per day guarantee or 30% of collections (whichever is greater). The usual first year production expectation is about $300K to $500K.

There are a lot of great paying opportunities out there. Pay attention to what other job seekers are talking about. You will need some point of reference in order to determine if you are getting a fair offer.

There is a great survey conducted by Dental Economics each year that is great. It takes a look size of local, productions, and compensations. Here you can find the 2008 Survey.

Things to Consider as Graduation Approaches

The date is quickly approaching. Dental students will be graduating in May, and Dental Residents will be completing their programs in June. It is an exciting time. New jobs, possible relocation, and the beginning of a whole new life doing what you love to do.

If you are fortunate and have already found a great opportunity, then congratulations. Many future doctors, however, are still on the hunt. As an independent recruiter, who specializes solely in the dental industry (www.etsdental.com), I would like to share what I am seeing across the country. This will most likely take several postings.

All the doom and gloom regarding the economy should not be ignored completely, but you should not dwell on it. In fact, embrace the challenges and new opportunities the transforming economy is going to create.

Nationwide, the the most challenging places to find great opportunities are in the major metro areas. Especially, those that have dental schools. These cities have a lot of competition for jobs, and you are not just competing against other new grads. There are a large number of experienced doctors looking too.

Look at areas one or more hours outside of dental school cities. You will find some great opportunities with successful private practices. I speak with a large of number practice owners in these areas who are looking for new doctors interested in future ownership. Their practices are well established and continue to grow, but they really need an associate to keep up the pace. The challenge for these practices is their ability to promote the opportunity due to doctors not actually looking in these locations.

Everyday I speak with current and future dentists that are frustrated by their unsuccessful job searches in Seattle, Los Angeles, San Francisco, Boston, New York, Atlanta, Miami, etc. Pardon the cliché, but think outside the box. Discover the terrific opportunities that exist outside of major metro ares.