Why is it so hard to ask for a raise?

In a recent episode of How I Doctor, Graham spoke to Dr. Eric Bricker of AHeathcareZ about this very topic. Eric is an expert in healthcare finance and manages an educational platform for physicians focused on unpacking how money moves throughout the healthcare industry, especially amidst the increasing corporatization of healthcare.

Physician compensation is one topic Eric dives deep into. For example, he explains why Employed Doctors Earn More Money Than Independent Physicians and how RVUs Determine Physician Income.

While physicians may experience a myriad of compensation structures over the course of their careers, Eric has noticed one important trend amongst employed physicians: they are hesitant to ask for raises. Whether they lack confidence in negotiation skills or worry asking would jeopardize being in good standing with their employer, the hesitancy many physicians feel around asking for a raise is holding them back, according to Eric.

In his conversation with Graham, Eric offered some stark advice to physicians:

“You have to actively ask for raises. Guess what happens? People who ask for raises get raises. People who don't ask for raises don't get raises. So you need to ask. And you don't ask once a year. Shoot, ask twice a year, ask three or four times a year, ask multiple times a year and be like, ‘Look, I want a raise. And if you're not willing to give me a raise, I'm willing to leave.’ And so you can either leave, you can threaten to leave and ask for a raise, and then the third alternative is you unionize. Because there are some places where they're like, ‘Well, there's just not enough options here. And so, we just need to unionize,’” Eric said.

Do you agree? Would you ask for a raise more than once?

Especially within major healthcare systems, the bureaucracy can make physicians feel powerless in the face of administrators who control their salaries. But ultimately, as Eric shares, physicians are in the driver’s seat. After all, they are the backbone of healthcare!

How I Doctor is the official podcast of Offcall where Dr. Graham Walker connects with fellow physicians across the country to educate, elevate, and empower doctors by sharing inspiring stories of how to live a fulfilling career.

You can listen to this episode of How I Doctor above and access the full transcript here. Read more from Dr. Eric Bricker by subscribing to AHealthcareZ at https://www.ahealthcarez.com/ .

Join the Discussion

Have you successfully asked for a raise from your employer? Have you tried to negotiate a raise but unfortunately did not succeed? Have you changed jobs for a better compensation package? Let us know in the comments - and if there are any tactics you used that may help others, please let us know in the comments below!