I had a soon-to-be-grad ask me “I am being offered a $3000 base.” What do you think? I think this is ridiculously low! Let me show you why:
$3000 base (let’s assume single, 1 allowance)
less $186 for OASDI (Social Security)
less $ 43.50 for Medicare
less $549.42 for Income Tax Withholding
Net is $2221.08
THEN, this grad has to pay her own malpractice: about $100 a month
AND, don’t forget those student loans, which can be almost $1000 a month.
AND, the doctor wanted her to pay her own way to seminars.
So what do you have left to live on???
Is this supposed to be incentive to make associates work harder? Maybe, but what happens if you get sick one month or you have to take time off for personal reasons?
Some DC’s want to reduce the base if the office has “substantial” increases in costs or lower income. That’s crazy! They don’t pay their front office staff less, why should you settle for less.
Sorry for the rant, but I see this stuff way too often. My solution: Go into practice for yourself. At least if you’re not making money, it’s your own fault and no one else’s. Of course, if you work hard and smart, you can make a great income as a chiropractor.
Remember Henry Ford’s famous quote: If you think you can, or you think you can’t, you’re right.
