Hello, looking for any thoughts on how to make "fair"... (not that things in life are fair)...
So I work with an emergency group that staffs 6 hospitals, around 80 partners, and around 10 non-partners. The 10 of us are on a 2 year partnership track and range from 2 months of employment to 22 months employment. So it seems that the partners have voted to have the practice "valued" and possibly (depending on the vote), sell the group. The way it was explained to me was basically the group would get a lump sum for partners to split, and from then on, approximately 20% of future revenue would go to the "investing" owner.
I do have a contract with hourly rates, and future rates... but I suspect that it could be terminated by my group if needed.
The way I see it is:
If I was retiring soon, this would be a nice way to get out, and who cares about the younger partners taking a 20% hit for the next decades.
If I was early to the group, +/- okay depending on the payout.
and my situation... nothing from the sell for being a "near partner"... and I take a 20% hit on future earnings...
Has anyone had any experience with a similar scenario, and if so how to make it somewhat equitable for those of us that are "near-partners" looking at a 20% pay cut, while my co-workers walk away with a big payout?
So I work with an emergency group that staffs 6 hospitals, around 80 partners, and around 10 non-partners. The 10 of us are on a 2 year partnership track and range from 2 months of employment to 22 months employment. So it seems that the partners have voted to have the practice "valued" and possibly (depending on the vote), sell the group. The way it was explained to me was basically the group would get a lump sum for partners to split, and from then on, approximately 20% of future revenue would go to the "investing" owner.
I do have a contract with hourly rates, and future rates... but I suspect that it could be terminated by my group if needed.
The way I see it is:
If I was retiring soon, this would be a nice way to get out, and who cares about the younger partners taking a 20% hit for the next decades.
If I was early to the group, +/- okay depending on the payout.
and my situation... nothing from the sell for being a "near partner"... and I take a 20% hit on future earnings...
Has anyone had any experience with a similar scenario, and if so how to make it somewhat equitable for those of us that are "near-partners" looking at a 20% pay cut, while my co-workers walk away with a big payout?
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