Determining The Value of a Compensation Package
Qualify the value of each element of the packages, then add it all up:

Value of above days:                  _________
Total remuneration :                  $________

Moreover, salary and standard benefits are not the only essentials that may contribute to the worth of a compensation package. Packages may include temporary housing, tuition reimbursement and support with repaying student loans. Occasionally, packages also include other elements such as interest-free loans, partnerships and administrative stipends. Sign-on bonuses exist but are hard to come by.

In the end, you will have to decide which package is most beneficial for you.

Independent contractors (IC's), earn an annual salary, but will not receive a benefit package. What is competitive varies from region to region. Remember a tax-exempt institution's offer must be within federal guidelines.

Practically all the opportunities you assess will offer you malpractice coverage. Make sure you know whether it is an occurrence or claims made policy. If covered by claims made policy, who is responsible for the tail payment? (The tail payment is the premium paid to the insurer when the policy is canceled to cover claims that may be made in the future.) Majority of the private practices only offer claims made policies. Tail payments are the exception, not a rule.

There is also the possibility that you will work at a facility that is self-insured. Make sure to know how much coverage you will have and will you have the option of moonlighting at other facilities with this insurance coverage?