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  • Lithium
    replied
    I’d do the private gig if you can put up with the longer commute and get your wife on board. In addition to better clinical duties, call is better and vacation is better.

    Leave a comment:


  • a.dolorosa
    started a topic Compare gigs

    Compare gigs

    Hi,

    Looking to compare two gigs. New attending. Geographical and clinical ambiguity for some degree of anonymity.

    1) Private
    Structure: corporation employee
    Clinical: Bread and butter
    # hospitals: 2
    Work day: typical 6:30a-2p plus various other types of shifts
    Commute: 20 mins to main hospital and 45 mins to 2nd hospital (70/30 to 50/50 split, depending on month)
    Salary: year 1/2/3, base $350/350/375 then $475
    Vacation: weeks 5/6/7 then 10 weeks
    Retirement: 401k, match about $6k annual, although matching on hold due to COVID
    Other: $2500 CME, $10k relocation
    Call: 2 overnight weekdays/month (10 hrs/call) + 1 weekend shift every 5 weekends (12 hrs)
    Expected take home: expected first year take home $380, and after year 3, $550k
    - take home higher than base bc many work a few vacation days for extra pay + extra call.


    2) teaching hospital
    structure: academic
    Clinical: trauma
    # of hospitals: 1
    Work day: 7a-3p
    Commute: 10 mins
    Salary: $350 base, eligible for promotion after 5 yrs ($400 base)
    Vacation: 5 weeks
    Retirement: Employer match ~$31k annual
    Other: $8-15k annual bonus
    Call: 3 overnight weekdays/month (16 hrs/call) + one 24-hr weekend day per month
    Expected take home: ~$400

    For the first 3 years, the academic gig is the winner bc of the solid retirement benefits. However after year 3, the total compensation at private gig begins to outpace the academic one. The commute is better at academic. We (read: wife) wants to live in the city, where academic one is located. The vacation and call burden are better at private. Also the clinical duties are better at the private gig, as I'm able to practice my subspecialty. And ultimately the total compensation after 3 years is better at the private gig.
    Curious on the thoughts if the larger total compensation package (after year 3) at the private gig outweighs the paltry retirement benefits there and potentially missing out on matching contributions at the academic gig.
    Quick other details: e-fund is established, have disability insurance, Roth IRA maxed out annually during training. Shooting for 20% savings ($70k/year). Plan to live with parents for few months, maybe up to a year while I figure out housing.

    Appreciate any outside perspective. Thanks.
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