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.
Resources:
Get $100 off a physician contract review and negotiation with Michael Johnson Legal.
Every doctor needs own-occupation disability insurance. Get it from a source you can trust.
Want a free copy of The Physician Philosopher’s Guide to Personal Finance? Snag your copy here.
