5 Things Every Graduating Resident or Fellow Should Know Before Signing Their First Contract
Are you a graduating resident or fellow? First - congratulations! You made it through. Now, you have a bit of business to handle to set yourself up for success and get the best possible contract. Before you sign your first employment agreement, here are five things you need to know.
Don’t go cheap. It’s tempting to skip hiring an attorney because of the sticker shock. Or, because you figure you have eyes, the attorney has eyes - what can an attorney see that you can't? A lot.
Have at least two offers you’d seriously consider. The key word is seriously. Having multiple offers is leverage. You can use one offer to try to sweeten the deal for the offer you most prefer.
Keep a copy of your signed contract. When you’re ready to move to your next job, you’ll know what your obligations are to your current employer (including what your non-compete allows), and you can avoid that awkward conversation about how much notice you need to give.
Delay major purchases until your contract is signed. Delaying major purchases like a home or car provides you greater flexibility to pivot if something changes. You won’t be locked into something you can’t easily get out of.
Ensure all verbal promises made to you are included in the contract. If a promise is not in the four corners of your contract, you are not legally entitled to it.
Ready to take the next step? We’re ready to help.
