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- May 23, 2015
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Hey everyone,
Was hoping to get some insight about my salary and whether or not I should be content with it.
I graduated residency this year and accepted an academic psychiatry position straight out of residency at my state medical school in the Southeast along the Atlantic. The medical school partners with community / state organizations to deliver care which I help fulfill. My mornings are spent managing a cohort of about 8-10 inpatients myself at the state psychiatric hospital. In the afternoon depending on the weekday, I supervise 2 resident clinics (including a ketamine and outpatient clinic), teach medical students for a half-day, manage a cohort of 8-10 juvenile detention patients (half-day by myself), do ECT (8 patients / half-day myself), and or do TMS (myself doing motor mappings). If an inpatient colleague takes vacation, then in the mornings, I'll manage my cohort of inpatients AND also assume responsibility for their cohorts which can vary anywhere from 14-22 patients depending on how busy the state hospital is and then come to afternoon clinics with colleague's residents managing things on the inpatient side while I do my afternoon obligations. Same with other outpatient providers' resident clinics or ECT/TMS obligations.
I make 220K/yr (base). To supplement the income, I make an additional 70K/yr from internal moonlighting by working x2 12-hr shifts/month and x1 4hr afternoon shift every week. In-person call supervising residents at hospital once every 3 months but leave after patients are all seen. Out of everything I do, about 0.3 FTEs are considered "RVU-generating" with the rest of the obligations being "contract"/flat-fee contracts with community partners. So for me, if I earn a collected wRVU threshold valued above 66K in a year, then ~$58/wRVU is paid out as a non-pension-contributing bonus. I get about 20 CME days, a $5000 yearly CME stipend, and accrue sick and annual leave at 8 and 12hrs respectively so there's def other benefits that possibly make up for the lower salary.
The biggest draws to me accepting a state academic position was teaching, state benefits/pension (requires 10 years of employment to become vested), and sovereign immunity overring protection from malpractice. However, with state budget issues, I'm not likely to get a raise next year (meaning I'll be making less after inflation), and the work has been keeping me very busy. Obvs, comparison is the thief of joy but wage but so is working under the value of what you bring. I'm seeing some of my former co-residents working in academics are making >275-300K in other parts of the country and I'm wondering if I hastily accepted too low of a salary or if I should be content where I'm at.
Question: Is my base salary reasonable / fair for what I do?
Would welcome any thoughts you all had
Was hoping to get some insight about my salary and whether or not I should be content with it.
I graduated residency this year and accepted an academic psychiatry position straight out of residency at my state medical school in the Southeast along the Atlantic. The medical school partners with community / state organizations to deliver care which I help fulfill. My mornings are spent managing a cohort of about 8-10 inpatients myself at the state psychiatric hospital. In the afternoon depending on the weekday, I supervise 2 resident clinics (including a ketamine and outpatient clinic), teach medical students for a half-day, manage a cohort of 8-10 juvenile detention patients (half-day by myself), do ECT (8 patients / half-day myself), and or do TMS (myself doing motor mappings). If an inpatient colleague takes vacation, then in the mornings, I'll manage my cohort of inpatients AND also assume responsibility for their cohorts which can vary anywhere from 14-22 patients depending on how busy the state hospital is and then come to afternoon clinics with colleague's residents managing things on the inpatient side while I do my afternoon obligations. Same with other outpatient providers' resident clinics or ECT/TMS obligations.
I make 220K/yr (base). To supplement the income, I make an additional 70K/yr from internal moonlighting by working x2 12-hr shifts/month and x1 4hr afternoon shift every week. In-person call supervising residents at hospital once every 3 months but leave after patients are all seen. Out of everything I do, about 0.3 FTEs are considered "RVU-generating" with the rest of the obligations being "contract"/flat-fee contracts with community partners. So for me, if I earn a collected wRVU threshold valued above 66K in a year, then ~$58/wRVU is paid out as a non-pension-contributing bonus. I get about 20 CME days, a $5000 yearly CME stipend, and accrue sick and annual leave at 8 and 12hrs respectively so there's def other benefits that possibly make up for the lower salary.
The biggest draws to me accepting a state academic position was teaching, state benefits/pension (requires 10 years of employment to become vested), and sovereign immunity overring protection from malpractice. However, with state budget issues, I'm not likely to get a raise next year (meaning I'll be making less after inflation), and the work has been keeping me very busy. Obvs, comparison is the thief of joy but wage but so is working under the value of what you bring. I'm seeing some of my former co-residents working in academics are making >275-300K in other parts of the country and I'm wondering if I hastily accepted too low of a salary or if I should be content where I'm at.
Question: Is my base salary reasonable / fair for what I do?
Would welcome any thoughts you all had
