New physicians and experienced physicians continually wonder: How should I apply for jobs?  Should I go through a personal recruiter, search online, or contact hospitals directly?  Should I call groups in the communities in which I want to live?  Perhaps medical societies are the answer?

eMatchPhysicians has researched every avenue and compiled a step by step process for a successful physician job search.  Click here to access our full tutorial.

Most physicians want a break after a residency or fellowship before going into their next job. Organizations looking to hire them can take advantage of this by offering a signing bonus if they join their organization, and giving them a couple of weeks to a month to spend it before they begin with the organization. Signing bonuses are considered fairly standard in the healthcare industry, despite the recession; only their amounts have diminished. In addition, as long as the contract is properly worded, you can ask for the signing bonus to be repaid if the physician leaves within a certain period of time, so your investment is always protected.

A signing bonus varies widely by profession and specialty. You can find out what the current standard is in your industry by simply asking around. Your current staff physicians will know, as will recruiting firms. A recent study released by Merrit Hawkins revealed that signing bonuses for the 2008/2009 fiscal year ranged from $5000-$75,000, so there really is no set amount. If you are trying to lure residents or fellows who want to take a break, $5000.00 may not be enough for a proper vacation to the various cultural locales that educated professionals may like to visit. It would cover an all-inclusive resort, but certainly not the kind of vacation that a doctor would prefer to take. If this is your focus, make sure that the amount covered can offer a nice vacation; anything less may seem like an insult.

Signing bonuses tend to pay for themselves in retention costs. If a doctor accepts a $10,000 signing bonus and has a contract to practice with the organization for three years, it will cost much more than $10,000 to recruit and replace that doctor. The simple truth is that without a binding contract in place with some sort of incentive, a physician may leave your organization at any time, taking your training, recruitment, and experiential costs with them when they leave. With that in mind, $10,000 seems a small price to pay.

While such a move may be seen as a cheap gimmick by some administrators, marketing a signing bonus is surprisingly effective. Many firms don’t reveal a signing bonus until they are asked about it, so coming right out and letting them know that you are offering it alone can encourage new recruits. Such a move also shows that your organization has a transparency and honesty that physicians may be more likely to want to work with. Only 36% of recruiters offered signing bonuses in 2003, so it will definitely set you apart from your competition.

In the end it comes down to the question – is a recent resident or fellow most likely to join an organization with an excellent signing bonus or an organization with long-term benefits? The short-term financial incentives will win every time.

If you’re a resident or fellow about to complete your training or an experienced physician who’s thinking of changing jobs, you may be wondering when is the best time to start your physician job search process.   Unlike many other careers where you can change jobs and find a new job opportunity in a matter of weeks, the process for finding the right physician job can take anywhere from 6 months to over a year.  That’s why, timing can be crucial in a successful physician job search. 

As we contact training programs in October and November, we often hear them say that it’s “recruiting” season.   Recruiters around the country are faxing job descriptions for residents and fellows who are completing their training in June.  While this may be a good time to learn about a variety of new physician job opportunities, the truth is… it’s ALWAYS recruiting season for hiring organizations.

Hospitals and medical groups throughout the country are hiring physicians all year round.  In some high-demand physician specialties, such as OB/GYN, emergency medicine and hematology and oncology, the job search process can begin even sooner, with some physicians securing jobs up to two years in advance.   

To help you formulate the best plan of action, we’ve put together some general guidelines to help you estimate the time involved with each stage of the physician job search process:

• The “Search & Discovery” Phase -   Before finding the right job to apply for, you may spend 3-4 weeks networking, viewing job postings, either online or on job boards, and talking with recruiters. 
• Talking to Future Employers – Once you have a good idea of some job opportunities that may interest you, you may spend another 2-3 weeks talking to potential employers and scheduling site visits to get more familiar with each individual practice setting.  Site visits may be scheduled anywhere from 2-3 weeks in advance to coordinate with everyone’s schedules.
• The Interview Phase – Congratulations!  You’ve secured your first interview.  This process may take 2-3 weeks, and then, if you’re lucky, you may be asked back for a second interview.  You can expect this to take another 2-3 weeks.  The good news is… many second interviews result in a job offer.
• Contract & Negotiation Phase – After you’ve been offered a job, typically, you will receive the first draft of your contract within a week or two.  Now, it’s negotation time, which can range from 2 weeks to 2 months, depending upon factors like lawyer involvement and priority of your negotiations with the lawyer. 
• Giving Notice -  If you’re currently employed as a physician, you will have to give notice.  The standard time for a practicing physician is 3 months, depending on the type of practice and speciality.
• Relocation -  If you’re new job, requires relocation, you’ll have to look for a new house, and possibly put your current house on the market to sell.  Given the current real estate market, this process may take anywhere from several weeks to several months.
• Obtaining a new license -  This last phase may not be required in all cases, however, if you are moving to a new state, you may be required to get new licencing and credentialing, which can take anywhere from 3 months to 8 months, depending on the state. 

So, as you can see, by adding the times in each of the phases above, a very conservative estimate for a typical physician job search process is between six months to one year.   That’s why we suggest physicians who are considering a new physician job opportunity to start the job search process between six and nine months from the date they want to begin their new job. 

You can start your physician job search immediately by registering for FREE at eMatchPhysicians.com.  You can complete a personalized profile that will help us find the best employer to match your practice and lifestyle preferences, so you don’t have to search through thousands of online jobs that are not right for you.  The best time to start your physician job search is now.  Join today!