? about income

[anxietypeaker]

hi everyone. I'm supposed to put a packet together about the different income for dentists/pods/MDs/OD/Pharmd (as well as other health care fields). I've seen the BLS.GOV website but it's not as specific as i need it to be.

Anyone know the MEDIAN INCOME (not salary) OF EACH PODIATRIC SPECIALTY IN THE US (2 vs. 3 years). I'd appreciate sources. Thanks everyone.

PS: I am a undergrad. I dont really know which field i want to get involved with but rest assured that i wont be deciding based off income, let alone national income.

---

Members don't see this ad.

 

[jonwill]

The problem with DPM salaries is that, because of drastic changes in training and practice over the last 20 years, salaries vary greatly. The most accurate stats (in my opinion) for starting salary can be found in a salary survey done by the APMA Young Members Committee last year. Is anyone aware of an online link for this survey?

 

[IlizaRob]

The problem with DPM salaries is that, because of drastic changes in training and practice over the last 20 years, salaries vary greatly. The most accurate stats (in my opinion) for starting salary can be found in a salary survey done by the APMA Young Members Committee last year. Is anyone aware of an online link for this survey?

The only problem with that survey is that it is only for starting salaries as you said, or pods who have been in practice less than 5 yrs. It still wouldnt give a clear number. But as Jon said, its probably the best there is. APMA claims 270,000 as the average a "surgical" pod makes. Im assuming they get these numbers from their members. Take that as you will.

 

[jonwill]

The only problem with that survey is that it is only for starting salaries as you said, or pods who have been in practice less than 5 yrs. It still wouldnt give a clear number. But as Jon said, its probably the best there is. APMA claims 270,000 as the average a "surgical" pod makes. Im assuming they get these numbers from their members. Take that as you will.

Yes, I've seen that number and personally know doctors that are on salary for that much or more but it still seems high to me (although it would be nice). The bottom line is that, if you work hard through school and get good training in residency, you will do well.
The problem with podiatry is that it isn't that competitive to get in. You get these slackers that barely make it through, get poor training, and then complain that they aren't making any money. I'm guessing that those are the negative ones!

 

[psionic_blast]

There is new survey stats. in the new JAPMA. I just receive it yesterday I show it to Ilizarob and see if it has an enough info to post.

 

[Dmayor22]

I would love to hear the results of the new survery completed. If you could please post the info or PM it to me I would greatly appreciate it. thanks!

 

[jonwill]

The new issue of the Journal of the American Podiatric Medical Association has a pretty extensive study on earnings. Board certified surgeons are doing quite well. I encourage all who are interested to look it up.
(JAPMA March/April 2006 pg 168)

 

[lafootdoc]

anyway we can get access to the japa stats on income? Is there a link?

 

[anxietypeaker]

can someone do run thru of that article? the japma website requires payment

 

[jonwill]

can someone do run thru of that article? the japma website requires payment

These numbers are from fiscal year 2004 (N = 10,830) NET INCOME:
< 25,000 = 5%
25k-75k = 17%
75k - 100k = 14%
100k - 150k = 25%
150k - 200k = 14%
200k - 250k = 10%
250k - 300k = 6%
>300k = 9%

I believe that this is probably pretty accurate considering the amount of variability in training within the profession. Of the respondents, 21% completed NO FORMAL RESIDENCY TRAINING (the older generation). Even still, only 22% make less than 75K and 64% make over 100K. In the young members study done last year, most podiatrists with a 3 year surgical residency were starting out in the low 100's. So, along those lines, I would expect the above numbers to rise with time as there is now a standardization of residency training as opposed to just a few years ago. Some docs got excellent training and some got next to none.

 

[Dmayor22]

These numbers are from fiscal year 2004 (N = 10,830) NET INCOME:
< 25,000 = 5%
25k-75k = 17%
75k - 100k = 14%
100k - 150k = 25%
150k - 200k = 14%
200k - 250k = 10%
250k - 300k = 6%
>300k = 9%

I believe that this is probably pretty accurate considering the amount of variability in training within the profession. Of the respondents, 21% completed NO FORMAL RESIDENCY TRAINING (the older generation). Even still, only 22% make less than 75K and 64% make over 100K. In the young members study done last year, most podiatrists with a 3 year surgical residency were starting out in the low 100's. So, along those lines, I would expect the above numbers to rise with time as there is now a standardization of residency training as opposed to just a few years ago. Some docs got excellent training and some got next to none.

Could someone with access to that survey, share what the salaries were like for Board Certified Pods..or was that the info?

Also, on the APMA career page they have a new survey for 2005. I dont know if it is the same survey just condensed or what but here are a few of the stats...

Gross: 500,000 or greater=18%
Gross: 100,000-300,000= 43%
NET: 150,000 or greater= 39%

 

[doclm]

Could someone with access to that survey, share what the salaries were like for Board Certified Pods..or was that the info?

Also, on the APMA career page they have a new survey for 2005. I dont know if it is the same survey just condensed or what but here are a few of the stats...

Gross: 500,000 or greater=18%
Gross: 100,000-300,000= 43%
NET: 150,000 or greater= 39%

I heard from a DPM that the average overhead in my midwestern rural area was close to 60%. Is that true for other areas in the U.S.?

Is that something like:
$500,000 = $200,000 NET - Taxes?
$300,000 = $120,000 NET - Taxes?
$100,000 = $40,000 NET - Taxes?

Or can the brunt of the Taxes be written off somewhere from the Gross Income? Business Expenses: Electric, Gas, Interest Paid to Loans, Auto Gas, $25,000 off on a new Hummer or Escalade for 2006, Donations, ect.

One of the DPMs that I shadowed recently, although works for a Hospital, said his Podiatry area was able to Gross about $750,000 last year. Is that normal? Although this DPM only had a 1yr surgical residency and used Orthopods for more complex surgeries. You would think that the Orthopod expen$e$ would go to the Ortho department.

Also he mentioned that he was compensated by the medical center just as equally as an MD physician with salary and benefits. Although he didn't tell me his salary he said it was close to about 40% of his Gross last year plus the medical center gives him $5000 each year to take his family to the nice vacations where he can get his CME credit. On the other hand, he told me not to expect to be driving around fancy cars and such. I do that now so I don't really know what to think of that?

Thanks for your input.

 

[bkpa2med]

What can a pod out of residency expect in NYC? Does anyone know of someone who got a good salary straight out of residency[3 yr]?

 

[jonwill]

What can a pod out of residency expect in NYC? Does anyone know of someone who got a good salary straight out of residency[3 yr]?

I'm not really familiar with any residents in NY. I know two people starting in NY this July and one finishing in June but he is going to a fellowship. I know plenty of people who have started out low-to-mid 100's out of residency. For those with 3-years of surgical training, I believe this to be the norm.

 

[bkpa2med]

jonwill,
What does it take to be an attending pod at a hospital? Anything in particular or is it truly the pods choice? Also trauma sounds very exciting.

 

[Dr_Feelgood]

What can a pod out of residency expect in NYC? Does anyone know of someone who got a good salary straight out of residency[3 yr]?

I can't tell you coming out of the gate what they make, but according the U.S. Bureau of Labor Statistics, the mean income for a pod in NY is $120K.

 

[IlizaRob]

What can a pod out of residency expect in NYC? Does anyone know of someone who got a good salary straight out of residency[3 yr]?

I dont know about NYC but I can tell you this. The other day the clinical faculty had to go to a conference so they talked a podiatric resident from a local hospital to fill in on a casting lab we had. He was a third year resident. When asked about his job prospects he said that he signed a contract while in his second year starting at 140K plus 45% of what he brings in. What was interesting was that he was a little embarrassed saying this because apparently most of his other classmates received better offers. I dont know if that is the norm, its just what he said. Take it as you will.