In response to continuing high demand for clinicians, the average amount of signing bonuses in 2016 rose 4.8% from the previous year, according to The Medicus Firm.
Organizations recruiting physicians and advance practice clinicians in 2016 were very likely to sweeten the pot with generous signing bonuses, according to data from The Medicus Firm, a national search firm specializing in permanent placement of physicians.
Nearly 90% of clinicians (87.4%) hired through the firm received a signing bonus last year, up from 68% in 2015. Among physicians, 90.4% of placements included a signing bonus.
The top five types of providers, based on volume of placements in 2016 were:
- Family Medicine
- Physician Assistant
- Internal Medicine Physician
- OB/Gyn Physician
The average amount of signing bonuses in 2016 rose 4.8% to $24,802, up from $23,663 in 2015. At the higher end of the spectrum, 34.2% of physicians were offered a signing bonus in the range of $25,000–$75,000, while for 4.2% of physicians, signing bonuses exceeded $100,000.
"In physician recruiting, pairing a signing bonus with a competitive salary offer is still one of the most conducive ways to increase the odds of filling your search, and doing so more quickly," notes the report.
Debra Shute is the Senior Physicians Editor for HealthLeaders Media.