Employed v self-employed

Ray Stanbridge

Should I or shouldn’t I? The question of whether or not consultants should be employed or self-employed is becoming increasingly debated. There are strong arguments in favour and against. Ray Stanbridge gives an assessment.

Market dynamics are such that the ‘salaried option’ cannot be brushed aside and most new consultants will have to take a view.

New players in the London market such as the Schoen Clinic and the Cleveland Clinic are offering employment contracts as the norm. Existing major players in the hospital market are also looking at the option seriously.

And insurers are looking to see if they can rationalise costs by encouraging the development of groups and locum agencies and for consultants to take employment if they have small practices.

An increasing vocal body of opinion believes that, within the next ten years, insurers will no longer recognise individual consultants.

Four major factors need to be considered by consultants thinking of an employed or self-employed option – quality of work, lifestyle, cost incidence and taxation.