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Started by nexus73
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Salaries are going up and people are desperate. MGMA doesn't know how to track supply and demand.
Prove the point - I have seen the same job keep coming up where a person would be working 3 days a week, 285k salary and a considerable sign-on.
Prove the point - I have seen the same job keep coming up where a person would be working 3 days a week, 285k salary and a considerable sign-on.
I will take it and then work 2 more days for 350-400K+ total.
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Is it reasonable to assume that if you hustle (55-60 hrs a week) while you are a young gun, that you can approach 300k even if you are employed?
I will take it and play video games the other 4 days.
The jobs are out there and don't believe that W2 is all that either. Plenty of good work for a good life balance between W2 and 1099. There are reasonable jobs which are advertised, but the majority aren't.
Here in NYC if you work 55-60 hours/week, you can easily clear 400k. Hospital Job = 40 hours (200-220k), + PP at $300/hr (15-20 hours). I'll let you do the simple math.
then wouldn't it make more sense for someone to work 60 hours all in PP and make 900K?
1) You are assuming you can find 60 patients a week that will pay 300 per hour. Even in Manhattan it's not that easy.
2) You are assuming all your patients will show up. The average no show rate is around 25%.
3) For all those 60 hours of clinical work, means you have to do paperwork on top of that. So really your weeks will be 70 to 80 hours.
4) In NYC you actually have to be good if you want to have a successful cash only pp. People here ask where you went to school, what type of research you have done etc. Unlike 99% of the country, there is reasonable supply of psychiatrists in NYC. So patients have choice.
5) Doing 60 hours a week of pp is draining. Even if you are able to get a full load every week, you will burn out after a few months. These patients expect to have you cellphone, and will also be calling you on a saturday night at 10pm because of a "panic attack".
Im only a resident, so I'm sure others will pitch in and agree or disagree with me.
But yes, I think realistically if you work hard and establish yourself in Manhattan after a few years, you can do 40-45 hour weeks of cash pp. But again you have to prove yourself first, not going to be handed to you.
There are psychiatrists in the city that hit 500-600k. You can only do this time of damage in markets like NYC/LA/SF, cash only/no insurance.
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I meant is it possible to do a 4 day (10 hrs a day) employed gig and then work for someone else an extra day per week and get to around 275-300k? I probably won't open my own practice. Basically 230k for an inpatient gig - 40 hrs - then work Fridays for someone else or do extra work and pull in an extra 40k a year working that extra day. 270s for 50 hours does not seem bad at all.
I know attendings who do their CL/Inpatient gig at 220kish day job (40 hour week, 9-5) and then just pick up call at $150/hour, for a 12, 15 or 24 hour shifts, once a week.
And thats NYC call rate, I think if you head outside of the city, you can get moonlighting/call rates of 180-200/hour.
That's exactly what I want to do. 220-230k for inpatient mental health institution or working C/L for a local hospital. I am willing to commute 30-35 minutes outside of a decent sized town (200-300k people in midwest or southeast) so hopefully those hourly rates are decent. It goes to show that Psych can make solid money if you are willing to work full time.
Of course, I keep telling people that the Medscape salary surveys (which says Psych = $210k) is misleading. 70% of psychiatrists in that survey work less than 40 hours/week....
Where could you find an inpatient job that would hire you for 4 days each week?
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You would know better than I would. I saw several work 4 or 5 days a week jobs on Merritt Hawkins.
60 hours a week? Not that good man. Where's the balance?
That's super doable. Basically any setup I would be considering in my large midwestern metro would put me in that range (and actually a fair bit higher).
This is exactly my plan, but I have to get into a psych residency first... 300k/year working ~50 hrs/wk.
