5 Practical Tips To Make More Money As An Associate OD
Five years ago, I had a technician who was great at pre-testing and becoming proficient in clinic operations. However, he was still learning our practice culture. One day, he discovered that other technicians in the industry were earning more than him and demanded a raise, threatening to quit if he didn’t get one. In response, I simply accepted his resignation.
As an associate OD, you likely wouldn’t do something so rash. However, if you approach salary negotiations without a solid strategy, it could come across as equally unprofessional. This article will provide five strategic tips to help you successfully negotiate a raise or a better contract.
1. Do Your Research Before Negotiating
Before asking for a raise, gather information on salary trends in the optometry industry, particularly in your region. Use sites like PayScale, Glassdoor, O*Net, and Salary.com to determine the market rate for associate ODs. Having realistic data will strengthen your case when you discuss salary with your employer.
2. Discuss Salary Increase Opportunities During Contract Negotiations
If you’re starting a new job or renewing a contract, this is the best time to negotiate terms around salary increases. A great conversation starter is: “How can I contribute to the growth of the practice?” You can also ask your employer to share their business goals and align your contributions with those objectives. If your practice has a review policy, make sure you familiarize yourself with it.
3. Take On More Responsibility – Become the CEO of YOU
Even though you’re not the practice owner, treat your role as your business. You’re the CEO of YOU. When you take on more responsibilities, you add value to the practice. Show your employer how your actions have positively impacted the practice, whether through increased revenue, patient satisfaction, or efficiency improvements.
For example, you could:
- Boost average patient sales by enhancing patient care and service.
- Propose a new specialty and ask for a percentage of the profits generated by that specialty.
- Improve office systems and workflows to increase operational efficiency, which ultimately saves the practice money.
4. Talk About the Future
Loyalty is important to practice owners, so express your commitment to the practice and share your long-term vision. Ask about the practice’s future goals and find ways to contribute. Offer to take on new projects or create initiatives that generate revenue or improve practice operations. Your forward-thinking approach will show you’re invested in the success of the practice, which increases your leverage during salary negotiations.
5. Be Prepared for “No”
Even with the best preparation, you might still hear a “no” when requesting a raise. Don’t be discouraged—use it as an opportunity to set specific goals for the future. Request an interim performance review or negotiate for non-salary perks like continuing education (CE) coverage, license renewal contributions, or additional vacation time.
Watch My Video for More Insights!
For a more in-depth explanation of these five tips, check out the latest episode of Divas Talk where I go over these strategies in detail. Click here to watch the full 38-minute video. These 38 minutes could change your career!
Final Thoughts
Negotiating a raise requires thoughtful preparation and a clear understanding of the value you bring to the practice. If these tips help you successfully negotiate a raise, I’d love to hear your story—share it in the comments below! If you’ve found other effective strategies, feel free to share them as well. Let’s support each other’s success!
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