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  • Contract detail sharing within practice?

    Hoping for some sage advice here . . .

    jumping from fellowship to contracted hospital cardiology attending job in a few months.  One of the members of the practice is extremely nice and very similar to me.  We (wife and me) are visiting next week and are meeting up with said member and his family for dinner and drinks.  We are both financially minded and he has mentioned that he would be more than willing to share his finances with me so I could learn from his successes and failures as I proceed through a very similar 5 years he just finished.  I think this would be extremely useful, however he also mentioned he heard that the new contract I received was great and I imagine would like to see it.  Is there any reason I shouldn't let him see my contract?

     

    Thank you!

  • #2
    So this is an employee of the practice, not an owner? The owners may disapprove of employees comparing contracts. Make sure there is not a privacy clause in it. If it is not a problem to discuss your terms, I would still talk in generalities only - since he "heard" your contract was great, there is already some gossip going around. You never know who he (or his wife) will share your private information with.

    After all, he's just offered to mentor you a bit, not compare notes.
    Our passion is protecting clients and others from predatory and ignorant advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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    • #3
      At least at my hospital they made clear it was "confidential."  Of course I am not a lawyer.

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      • #4
        Probably written in your contract that it's confidential.

        But I think that's complete BS. Most I know have shared details. It's extremely and helpful for both parties.

        Local docs in a specialty should be open and clear about where everyone stands

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        • #5
          That seems a bit early in the relationship for him to be sharing that degree of detail.

          What could he possibly learn from your contract? He is also a hospital employed person? The contracts in general have very little variation. I would surmise he doesn't really want to see your contract and meant more that he starting salary being offered these days is super high compared to even a few years ago and certainly when people were entering private practice jobs.
          I bet he just wants to know your starting salary. Maybe how much negotiation you did.

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          • #6
            As long as it's legal, I don't see the issue with sharing. My friends and I (and our friends that have come out of residency since we left) all talked about our contracts with each other. There's really only 3 employers in our town and we know what everyone offers. I think it only benefits you to share.

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