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2nd Year Salary

Discussion in 'Practice Management' started by Zac, Nov 27, 2012.

  1. Zac

    Zac Active Member


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    I am employing in private practice a 2nd year Pod. I'm trying to develop a fair (for both) salary package. The employee has asked for a salary plus a percentage for achieving certain targets. I know there is no definitive answer & it varies for all sorts of reasons. What is a reasonable hourly rate for this level of experience? And how do you develop a percentage bonus eg. calculate what they have generated weekly for the previous year, add on 10% & give them 20% of that amount over the average plus 10%??? The figures I'm using are completely off the top of my head & probably not accurate. Any thoughts appreciated.
     
  2. DTT

    DTT Well-Known Member

    ZAK
    What country / region are you in ??

    Might help with a more relevant reply

    Cheers
    D;)
     
  3. Zac

    Zac Active Member

    I'm in Australia.
     
  4. Nat Smith

    Nat Smith Active Member

    Zac,
    It can get very difficult trying to negotiate these things.
    Be mindful that podiatry is now covered under the "Health Professionals & Support Services Award" since 2010.
    You can download a copy from the Fair Work Australia website. www.fwa.gov.au

    The main issue is hiring pods as contractors or employees...essentially if a pod is working the same set hours every week, they cannot be classified as a contractor.
    You can still pay people in % contractor positions, as long as their base salary is above the Award. You are still liable for Super as well. The Award rates are fairly low generally, so it's not too difficult to do a base salary plus commissions.

    I have found the biggest issue is that even new grads coming out of uni are expecting huge salaries, when they don't have the clinical skills to back it up...they all think they're going to jump straight into sports med roles...I don't know what uni is preparing them for, but the practicalities of private practice make most new grads ill equipped - poor time management & scalpel technique is atrocious...

    Anyhow, getting off topic there. For a 2nd yr, I guess the question is, what experience have they had thus far? Are they working autonomously, or will you have to still provide some mentoring? What kind of practice are you - lots of EPC's, lots of orthotics? etc.

    Good luck!
     
  5. Zac

    Zac Active Member

    Thanks Nat. We have employed the Pod under the Health Services & Support Services Award & we chose to pay above award wages. The practice is a broad general clinic so a mixture of everything. We do provide some mentoring but they work autonomously (always with support staff) in the main. I'm just trying to get a feel is $30/hr reasonable or $40 or $50 (it depends on what they generate I guess but I was just trying to get a ballpark figure for a 2nd yr grad)? And then how to calculate some performance based figure on top ie you take a percentage of profits generated above a certain base figure. Is this not commonly used? Any pointers greatly appreciated.
     
  6. Mark Egan

    Mark Egan Active Member

    Hi Zac

    I would advised you have a chat with your accountant to look at the business re running expenses and takings this will provide you with a better feel of what the business can afford to pay someone.

    Also how comfortable are you to show the podiatrist the business financials ? as you could then sit down with the podiatrist and show them the figures so they are aware of what is involved and go from there negotiations wise.

    It is a real balancing act re wages and what is a fair for employer and employee.
     
  7. Daniel Bagnall

    Daniel Bagnall Active Member

    Hi Zac,

    Go to Fairwork Australia and check the Health Professionals and Support Services Award for more information regrding pay rates. That is modern award Podiatrists and other Allied Health Professionals fall under now - including any employees that are doing reception/admin work. That should give you a basic idea what a second year hourly rate and a starting point.

    Regards,

    Daniel
     
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