In this episode of Money Meets Medicine, Dr. Jimmy Turner and physician contract attorney Michael Johnson break down the personal finance side of physician compensation. From negative accrual contracts that treat your salary like a loan, to sign-on bonus clawback traps that can lock you into a bad job for years, they cover the financial landmines most doctors never see coming.

You'll learn why some doctors end up owing money back to their employer, how a collections-based pay model left one physician with a six-figure IRS bill, and the sneaky ways sign-on bonuses can limit your career flexibility. Michael also walks through retirement matching pitfalls (and how a change in 401k contributions can quietly cut your compensation by $15,000+), the hidden cost of maternity leave when bonus structures aren't prorated, and why so many physicians in production models stop taking vacations entirely.

Plus, practical strategies for negotiating reduced FTEs, flexible schedules, and better clawback terms — whether you're finishing training or considering a job change.

Topics covered: negative accrual contracts, physician sign-on bonus clawbacks, 401k/403b employer matching, maternity leave compensation, physician contract negotiation, reduced FTE scheduling, collections-based pay, estimated taxes for 1099 physicians, and disability insurance for residents.

Episode Links and Resources
Every doctor needs own-occupation disability insurance. Get it from a source you can trust: https://moneymeetsmedicine.com/disability

Want to get a $100 discount to work with Michael Johnson Legal (a physician contract legal team)? Use this link --> https://moneymeetsmedicien.com/negotiate

Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Snag your copy here: https://moneymeetsmedicine.com/freebook

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How to Negotiate Sign on Bonuses for Physicians

Money Meets Medicine