Our compensation philosophy
What you bring to Sound is essential to making us better, and we believe in rewarding all that you give. Sound’s benefits portfolio is designed to optimize your cash compensation while offering an array of benefit choices to meet your personal and family needs.
- We offer fair, market-based compensation. It’s important you feel valued for the meaningful work you do, and that requires vigilance on how the market is moving related to compensation. We take a proactive, data-based approach by conducting biannual benchmarking and collaborating with hospital partners where adjustments are needed.
- We offer locally determined, variable incentive programs based on quality of care, good citizenship, and efficiency aligned with hospital goals.
- We ensure new clinicians receive competitive, market-based compensation on day one. While our senior partners hold equity in Sound, we don’t use promises of future equity value as a substitute for fair clinical pay from the start.
- We offer rich referral rewards. When our colleagues help us grow our team with great people, everyone benefits — our medical group, our partners, and our patients.
We’ve listened to what our clinicians want. Our benefits optimize cash compensation, and you choose how to use it.
Additional compensation-related benefits
- Deferred compensation plan: For those who are interested in aggressively saving for retirement, Sound offers a deferred compensation plan. Clinicians can put away as much as 50 percent of their salary on a pre-tax basis, allowing it to grow tax-free, as opposed to a 401(k) with annual contribution limits. Participants can select from a portfolio of options based on risk tolerance.
- Path to partnership plan*: Sound rewards engaged clinicians who have tenure with the organization. Colleagues with two years of service with a proven track record of good citizenship and meaningful contributions to their team can achieve partner status, leading to additional income growth and greater influence on group decisions. Those with a tenure of five years are eligible for senior partner status, resulting in ownership within Sound through an equity grant.
- Student loan refinancing: Alleviate compounding interest on your student loans when you refinance your federal and private student loans with Sound’s preferred partner. You’ll receive a 0.125 percent interest rate discount when you apply through Sound.
- Group-funded 401(k) plan: Sound offers a retirement savings plan with an array of investment options, allowing pre-tax contributions through payroll deductions. You’re eligible to participate in the 401(k) plan on your date of hire, and after 18 months, Sound offers an employer match contingent on medical group financial performance.
*This path varies by specialty.