Career and Life Planning Guidebook for Medical Residents

F I E L D N O T E S For specialties with a surplus of candidates, like nephrology and sports medicine, employers may adjust the guaranteed compensation down and for specialties who are in high demand with a shortage of candidates, employers will adjust the compensation up. An employer located in a medium-sized community located 90 minutes from Chicago uses the median as a starting point and then adjusts up or down as they work through each compensation factor. To demonstrate how guaranteed compensation may be impacted based on one high-demand specialty and one specialty with a surplus of candidates, check out the table below. – Todd Skertich, Managing Partner at Arlington HealthCare Creator & Author of Career and Life Planning Guidebook for Medical Residents Specialty In Demand Median Adjusted Guaranteed Compensation Psychiatry HIGH $295,000 $310,000 Nephrology LOW $310,000 $250,000 Organizational needs and defined services – What you are asked or expected to do will certainly influence what you earn. We’ll touch on some common physician services shortly, but remember there are only so many hours in the day, the week, the month, and the year. Compensation can stack up quickly the more you commit to do. Compliance experts will suggest you can’t be in two places doing two different activities at the same time. Also, this “do more, earnmore”wheel can quickly lead to physician burnout, which doesn’t help anyone. There are only so many hours in the day, the week, the month, and the year. SECTION II: T MINUS TWO YEARS CAREER AND LIFE PLANNING GUIDEBOOK FOR MEDICAL RESIDENTS 224