Somewhere in your first year out of training, a number gets written down, and you probably think of it as this year's salary. It's really the number the rest of your career grows from, and it compounds in ways nobody warns you about, mostly because nobody at the table has any reason to or worse, they don’t think about it at all.
Start with the mechanical part, which is almost boring. Raises usually come as a percentage of what you already make, and your next employer, three or four years from now, will ask what you're earning and quietly build their offer on top of it. So the first figure isn't a starting line you leave behind, it's the floor of every room you walk into after it, and if you set that floor low, you'll spend years climbing back to where you could have simply started.
The thing that actually sets that first number has nothing to do with your worth and everything to do with the fact that you're holding one offer, a resident's bank balance, and a start date you've already told your parents about. The people across the table know all three, and they're not being cruel about it, they're just negotiating against someone who can't easily walk away, which is the weakest position in any deal. And the number itself has less to do with your worth than with the employer's own financial position and reimbursement strength, so a lower offer is often a fact about their books, not a verdict on your value. That's why the strongest move you can make happens before anyone says a dollar amount out loud, which is to get a second real option in the room. It doesn't have to be one you'd take, just a credible one, so that "this or nothing" stops being true, because the moment it does, the whole conversation changes.
Watch: Nick on why the first job decision compoundsIt's also worth watching the promises that show up in place of money. When a first employer can't move on the number, they'll often reach for the future instead, with things like "we'll revisit your comp in a year," or "there's a partnership track," or "this gets lucrative once you're established." Some of that is real, and a lot of it is a promise written on an account nobody's planning to fund, and a promise that isn't in the contract isn't really a promise. If the good part is genuinely coming later, get later in writing, with a number and a date attached, or assume the version in front of you is the whole deal. Putting it on paper does more than give you proof. It makes the employer a partner in reaching that number instead of leaving the whole climb to you, because a raise with a date on it is a commitment they have to meet, not just a hope you get to chase.
Here is that mechanism in plain numbers, and it's only arithmetic, not a promise. Picture two physicians who are identical in every way except that one negotiated the first offer and one didn't, so one starts at four hundred thousand and the other at three hundred and eighty. Give them the exact same three percent raise every year after that. In any given year the difference between their paychecks looks too small to fight over, which is exactly why almost nobody fights over it. But because each raise is a percentage of a bigger or a smaller number, the gap widens on its own, reaching roughly $48k a year by year 30 and somewhere around $950k in total earnings over a career. Same work, same raises, same everything, and the only difference was one conversation at the start. The number that looks too small to negotiate turns out to be the one that follows you the longest.
I want to widen the lens, though, because a piece that's only about the number would be making the mistake I'm warning you about. The first job doesn't just anchor your pay, it anchors what you come to think of as normal. If your first experience of being an attending is a place that treats your time as free and your questions as an inconvenience, that becomes your baseline, the thing you'll measure every later job against, and the thing you'll quietly assume you deserve. I've watched physicians take a second job that was objectively rough simply because it was a little less rough than a brutal first one. The first number sets your salary, and the first job sets your standards, and standards are even harder to renegotiate than pay.
A hospitalist I worked with said the most expensive part of his first contract wasn't in the compensation section at all. It was a workload he'd assumed was just what medicine felt like, until he moved somewhere saner and realized he'd spent four years mistaking a bad fit for the job itself. The money he'd left on the table stung, and the years stung more.
So give the first one the seriousness it's actually earned, which is more than anyone around you is going to suggest. Learn what the number should be for your specialty and your region before you respond to the one you're handed, because "competitive" is not a number and was never meant to be.
Get a second option on the table so you're choosing instead of accepting. And look hard at the parts of the job that have nothing to do with the salary line, like the call and the culture and the autonomy, because those are the ones quietly teaching you what to expect from the next fifteen years.
You only get to set the anchor once, and everything after it is negotiation. This one is the foundation, and it's worth being a little less polite, and a lot more careful, than the moment seems to ask of you.