Career and Life Planning Workbook for Medical Residents

34 WWW . A D V E N T U R E S I N M E D I C I N E . C O M Show Me The Money You have made the investments and have completed your extensive training. Now it is time for you to Z[HY[ YLHSPaPUN [OL ILULÄ[Z HUK [OL 9L[\YU VU 0U]LZ[TLU[ `V\»]L THKL 7LVWSL ILJVTL 7O`ZPJPHUZ MVY many reasons. One may be the opportunity to be paid well for your specialized knowledge and expertise. You want to be compensated well for all you have invested in time and training. The question remains, do you know what being well compensated means to you? Do you know what it means in the market, region, specialty and/or community? In this chapter you will need to explore and consider the following questions: What is a reasonable compensation package? How should I expect to be “compensated” by my employer? What are the various elements of that compensation that I must consider? How much day-to-day work and on-call hours will be required in exchange for compensation? What can I expect and what should I consider in order to maximize my earning potential? The information and exercises in this chapter have been designed to equip you with the knowledge and skill sets needed to maintain and increase your income as you move from a guaranteed salary to variable and production-based income. Let’s get started making money. CHAPTER 3 Compensation Packages