The compensation package consists of several components allowing for flexibility in meeting the preferences of incoming providers. The compensation begins with a base salary of $440,000 which does not include any nights, weekends, holidays, or administrative duties. The available bonuses are added to the base salary to match any additional responsibilities. Available one-time bonuses include a sign-on bonus and a $6,000 relocation bonus. The perpetual bonuses include an annual group incentive bonus (historically ranging from $25,000 - $100,000) and a call participation bonus of $100,000. The call bonus only includes coverage for 5 weekends per year. Any additional weekends are compensated at $350/hour increasing your call compensation approximately $30,000 each year.
Like the base salary, Paid Time Off is structured to align with the preferences of the providers. The base package includes 20 days of PTO and 10 days of CME time. Choosing to participate in the call rotation affords you 15 additional PTO days annually along with the option of when to schedule your “post-call day”. The providers have retained the option of when to use their post-call day. Some providers use the post-call day more traditionally on Monday after their weekend call, others choose to use the post-call day later in the year to create larger blocks of vacation time. Either way, providers average 8 call weekends per year creating 8 additional PTO days to use at their discretion. Presently, all the providers choose to participate in the call rotation. All in, they enjoy 53 days of PTO each year.
Ochsner Health provides a robust compensation package including many additional benefits. Several notable highlights include their retirement options and their student loan repayment options. The retirement options include both a 401k retirement account and a 457b deferred compensation plan. The 401k plan has an employer-match of 4% which allows you to retain more of your income tax-free. Their 457b deferred compensation plan is likewise a wonderful tool to reduce your tax burden while saving for important events and milestones in life. The student loan repayment option is substantial given that they are a public not-for-profit institution. Not only will your student loan debt be retired after working at a non-profit for 10 years but the Ochsner administration will provide a financial team to assist you in navigating the process. Additional details regarding the insurance coverages are listed in the Ochsner Benefits Overview.