Advice to Young Physicians: Avoid the Headhunters
–Working with a recruiter can have unanticipated consequences
“Does she have any flaws at all?” My business partner asked aloud, after we had just finished interviewing a strong candidate for our ophthalmology practice.
“Not really,” I said. “Her residency director even called her a rock star.”
We both agreed that she seemed personable, ambitious, and very intelligent during our interview. The only caveat was that she came to us through a headhunter who wanted to charge a hefty sum just for sending us her CV.
Unfortunately, scenarios like this are all too common. Physician recruitment is a booming business and has become a ubiquitous part of the job market. But it’s time to pull back the curtain for young physicians, and reveal how working with a recruiter right out of training may have some negative consequences they may not have anticipated.
Headhunting firms typically charge the future employer 10-15%. (and sometimes as much as 30%) of a physician’s first-year salary for making a simple introduction. These fees, often upwards of $30,000, impact the psyche of potential employers much more than trainees may think. All things being equal, a candidate that doesn’t come through a headhunter may have a better chance of landing the job — and even receive a better starting salary.
Trainees may not understand that once a headhunter sends a potential employer their CV, the practice is obligated to pay the finder’s fee (assuming they are hired), even if the potential candidate happens to find the same job opportunity through a posting on a specialty board website through their own efforts, just 1 day later.
Having to pay headhunters puts financial stress on a practice and potentially leads to higher patient volumes per physician and compromised care. What young physicians may not realize is that they are the ones who actually pay the recruiter’s commission — albeit indirectly — by seeing tons of patients.
Recruiters don’t always see things quite the same way. The president of a major healthcare recruiter was recently quoted in an article published on the American Medical Association’s (AMA) website, saying:
“Not going with a recruiter is almost like not having a realtor when you’re looking for a home. Having that person working behind the scenes to find the ideal house for you is critical.”
From their point of view, recruiters are an indispensable resource for determining salary benchmarks, fact-finding, and salary negotiations.
The truth is that most of this information is easy to obtain without the help of a recruiter. Furthermore, recruiters often won’t tell physicians about the negatives of a particular practice because they are not incentivized to do so. Asking local physicians or former employees is a far more reliable way to find out about the reputation of a practice.
New graduates who are seeking employment in a desirable urban area should understand that they are competing against other qualified candidates. In some cases, working with a headhunter may actually be the deciding factor in choosing another good candidate over the one who worked with the headhunter (in order to avoid paying the fee).
It is also worth noting that practices who do employ headhunters are more likely to be larger practices that have private equity or venture capital ownership.
Although it is not the norm, there are some specific situations where the assistance of a recruiter may prove valuable. Job seekers who require discretion while they are employed elsewhere can remain anonymous until a potential employer is identified by a recruiter. If a practice happens to be located in a rural setting, recruitment may be more challenging and the assistance of a headhunter may be beneficial. Temporary or locums-type opportunities may also lend themselves well to professional recruiters.
Seeking your first job out of training is an exciting time. You’re likely exhausted from the grind of training and ready to start earning a real income. The task of finding the right job can seem daunting. It is understandable to want some assistance with the process and to avoid exerting a huge amount of effort. The reality is that — even though it may seem like more work — networking and searching through professional job boards is often a better way to seek employment.
Lastly, as a private practice owner myself, I will say that there’s nothing that indicates ambition and resourcefulness like a candidate who finds one of my practice opportunities through the American Academy of Ophthalmology website, and not only sends their CV via email but actually picks up the phone and calls my office to express their interest. There’s still something to be said for doing it the old-fashioned way and relying on your own grit and determination.
Eric Dessner, MD is an ophthalmologist in Brooklyn, New York. He is CEO and founder of Medmic, a platform for healthcare workers to express their artistic talents.
This is very informative and well intended; Coming from a specialist who lived those discussed stages ,from being a young doctor searching the net and intrviewing for a job ,to being the employer and sharing what one seeks in a candidate. Very generous of you! Well written and valuable advices.