Understanding Contracts (From Both Sides of the Table)

Whether you're a veterinary clinic owner, working on behalf of a corporation, or a veterinary professional employee, understanding contracts is essential to knowing what each party is responsible for within a working relationship. 

In this conversation, host Dr. Jonathan Leicht shares his knowledge on the subject with direction from co-host Dr. Michael Bugg. Contracts lay out the terms of how the working relationship is going to go, and having been on both sides of the contract negotiations himself, Dr. Leicht provides important insights on what employers, and employees alike, should be aware of when working out the details of contracts including:

• Why you want to have contracts crystal clear at the beginning of the working relationships
• Contract flexibility over time - if you're adding value, your employer is going to see value in keeping you on board
• Why if you don't ask, the answer is often no!
• Expected pay rates for new grads coming out of school based on current industry standards
• What comes first as an employee: selling your value upfront, or showing your value then negotiating later?
• Understanding what you are being paid on (this depends on the clinic)
• Understanding benefits, vacation time, and continuing education funds
• The different payment models for Veterinarians
• Why you should seek legal counsel on all contracts you are involved in (and always read the fine print!)
• Providing proper notice as a professional

Contracts are always a conversation, so be sure to put everything on the table and talk about it. 

Working through contracts may not always the most comfortable or enjoyable thing to do, but with a better understanding of the process and the components involved, we trust this episode will help you to better navigate your next contract talks.

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Want to join our community of like-minded Veterinary Professionals? Send us an email at theveterinaryprojectpodcast@gmail.com and we'll get you connected to our private Veterinary Project Facebook group.

Any questions, comments, feedback, or requests for guests can also be sent to theveterinaryprojectpodcast@gmail.com. Thank you for listening and we look forward to seeing you next Wednesday for another episode of The Veterinary Project Podcast!

- Jonathan Leicht, DVM and Michael Bugg, DVM