Contract negotiation for physicians is crucial for building a rewarding and sustainable career. Dr. Linda Street, a maternal-fetal medicine specialist and negotiation coach, emphasizes the importance of mindset and self-worth in the negotiation process, particularly for women physicians who may have been socialized to avoid advocating for their needs. Physicians should start negotiating from their first job offers, leveraging their strong position before employment begins. Preparation involves researching market data to understand typical pay ranges for their specialty and region, and defining their ideal job parameters, including minimum requirements and high-expectation goals. Tail insurance and non-compete clauses are critical areas to address in contracts to protect future career options.
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