With the current workload pressures in the Primary Care Sector, GPs can be forgiven falling out-of-touch with exactly what is considered a competitive employment package in the current market. In today’s edition of the PCMC Newsletter we take a briefly analyse each of the most common contracting models for GPs, comparing key features of each.
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* https://www.bma.org.uk/advice/employment/gp-practices/gps-and-staff/focus-on-taking-on-new-partners
** https://www.bma.org.uk/advice/employment/gp-practices/gps-and-staff/focus-on-taking-on-new-partners
*** No specific data available. Based upon £550 per day across 261 working days a year.
**** Rate of tax assumed at 20% – Locums tend to invoice via Ltd companies hence allowing for tax efficiencies.
***** No specific date available. Based upon £500 per day across 261 working days a year.
****** Rate of tax assumed at 20% – Associate GPs tend to invoice via Ltd companies hence allowing for tax efficiencies.
Whilst there are key differences between each contracting model, the suitability of any given model is largely down to an individual’s circumstances. Whilst one GP will find the flexibility of a Locum role invaluable, a colleague across the country will appreciate the job security that comes with an Associate role, hence it’s important you develop a package that suits you!
PCMC encourages a regular review of your employment package to ensure it’s in-line with market standards.