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  • EJ at Dads Dollars and Debts
    replied
    I recommend interviewing but from someone who was in academics for 4 years and then jumped to private practice, I can tell you the pay is better in private practice (not that this is a surprise). Also be aware of skills that can atrophy if you are in a super subdivided space in your academic job.

     

    For instance I stopped doing diagnostic angiograms. Could I do one now? Sure, but not as well as 5 years ago. Could I learn again? Of course but it makes you less marketable.

     

    Leave a comment:


  • LizOB
    replied
    You have absolutely nothing to lose by going on interviews for other jobs! You'd be crazy to accept a job after your first interview, if nothing else so you can make comparisons among your actual options (as opposed to hypothetical options or salary averages). You may find that you like another option better. You may also find that your current institution really is the right fit, which will help you feel better during those inevitable moments of job frustration down the road. They've given you the time, you need to use it!

    Leave a comment:


  • antheus
    replied
    Thanks for the responses so far. For some comparison, there is a survey sent out annually to graduating residents and the results are as follows:

    2016 - starting salaries entering private practice:

    Avg: 320k

    Median: 300k

    Range: 290k to 490k

    Second year salary:

    Avg: 356k

    For academics the median starting salary is 300k.

     

    Obviously this is just from people who respond to that survey. I know of starting positions making 750k in Minnesota and 500k in rural Texas, neither of which interest me, and unfortunately the big cities are particularly competitive. For some more specifics it's a big city in Texas and I would ideally like to be in another big city or just outside of one. Both my girlfriend and I are very happy here and would definitely be happy for a few more years, would probably be happy long term. My family is in South Florida and New York, both of which are brutal markets especially starting out.

    As I've said, I've been told that I have a pretty generous amount of time to make a decision but there's some anxiety associated with not accepting it because they will be interviewing other candidates which is why I posed the question.

    Leave a comment:


  • SValleyMD
    replied
    Agree with vagabond- staying in academia keeps options open. Once u leave tough to get back in.

    I also wouldn't get your heart set too until u look around a bit though

    It's also obviously hard to know what the dollars mean without sharing the specialty. Seems like a high demand niche specialty in the south would be pulling in more than 360k but maybe it's endocrinology or something.

    Leave a comment:


  • VagabondMD
    replied
    Certainly you should look, but if you stay in academics for a while, you can wait for your job/location of choice to open up. In my field, staying at the University makes you more desirable than hopping from one private practice to the next.

    Leave a comment:


  • Dr. Mom
    replied
    Could you really be happy settling for this job without knowing what other options are available?

    Leave a comment:


  • q-school
    replied
    Unless you just have a year or two to kill while girlfriend finishes up something or you get another certification or degree, you are crazy not to interview in places you would want to live.

    It's that simple.

    Interview now, thank us later

    Leave a comment:


  • childay
    replied


    Is it worth going through the time and effort of a job search just to see what’s out there?
    Click to expand...


    Well yeah!  You're telling me you think this academic position pays better than non-academic (seems unlikely)?  And that you don't see yourself in academia long-term.. Shop around!  If you don't want to post the specialty then it's gonna be hard for us to give much specifics.  Have you checked salary surveys?  Do you actually like your current town?

    Leave a comment:


  • antheus
    started a topic Early Job Offer

    Early Job Offer

    Hey all,

    I'm currently in my last year of residency in a small and fairly competitive field (both from a job standpoint and the specialty itself). I'm in residency in the south but grew up on the east coast and that's where my small family is (we're immigrants but my parents and sister are in the southeast and my girlfriend's family is in the northeast). I was offered a position to stay on as faculty at my current institution for a competitive salary, especially when one considers cost of living.

    The initial offer is as follows:

    Base Salary: $300k, 35k bonus, 25k employee contribution to a 403b

    All told compensation amounts to roughly $360,000. There's also a 457b, excellent insurance etc. (strong university system). Haven't yet negotiated anything.

    Overall I feel like it's a pretty strong offer. I know the system and know what the job entails, there's excellent work life balance, some prestige associated with it, and an excellent starting job from a support standpoint. I like working with residents and there's minimal publishing requirements. However, I don't see myself in academics medium-long term and I have a hard time believing that this will be my forever job. I always thought I'd wind up in private practice and that's where I'd ultimately like to end up. It's still very early and I haven't even applied anywhere else at this point but I'm having a hard time convincing myself that I'm going to find something better. Thankfully I've been given a generous amount of time to think about things but I could use some guidance as to what to do next. Is it worth going through the time and effort of a job search just to see what's out there?
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