Negotiating Veterinary Contracts

Question 1

When should I get my contract reviewed by a solicitor

Answer 1

If your contract has a non-compete clause

Question 2

What is Production only as a type of payment

Answer 2

Get paid based on the revenue you bring into the practice

Question 3

What is Guaranteed Salary + Production (ProSal) as a type of payment

Answer 3

Guaranteed Salary: You get a set amount every month.

Production Rate: This is the percentage of revenue you need to generate to “break even” and meet the required salary.

Break-Even Point: This is how much total revenue you need to generate for the year to cover your salary.

Question 4

How to calculate break even point

Answer 4

Salary/Production rate

Question 5

What is Base Salary + Production as a type of payment

Answer 5

Negative accrual = every time you don’t make enough revenue during a month to cover your salary, that number keeps accumulating.