House v. Residency

[pharmdpharmd]

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I work in a top 10 hospital as overnight staff pharmacist, I like it a lot and they like me a lot too. I don't want to be doing the same thing 10-15 years from now though, even if the shift change. I didn't do a residency straight out of school because I had to take care off family stuff, but that's taken care off now for the most part ( I still have to be relatively nearby). If I buy a house, then I will pretty much forget about residency (starter home is around ~400k where the hospital is) and if I do a residency, then I won't be able to buy a home for the next 5 years (one of the benefits of the hospital I am working in now is 40k grant toward a down payment, which I won't be able to use if I left to do a residency)

The hospital doesn't have a pharmacy residency program, and probably won't get one in the next 5 years. They have pretty good clinical pharmacists core who been there forever and got their Pharm.D when it's used to be optional and actually worth something.

What would you do? Buy a house, settle down, and hope for an administration position down the line (or maybe even clinical?)

or do a residency for a clinical position a lot sooner, but risk losing a very good chance now?

I am married with no kids and no plans for kids for the next 2 years either way because my wife is doing her masters.

 

[confettiflyer]

If I were you, I'd stay there, go for a shift change, and eventually wiggle into a management or other position a few years down the road.

If you're really ambitious, start a residency program? Hell...make it an informal/non-accredited one if you want, train like mad with the clinical pharmacists and let your boss know this is what you want to do.

Leaving and doing a residency exposes you to risks where the benefit might not be much greater than had you stayed and improved within the umbrella of your current hospital.

 

[spacecowgirl]

What do you want to do in 10-15 years?

 

[BidingMyTime]

If it were me, I'd buy a house and settle down, skip the residency. But the right answer for me, may not be the right answer for you. What you need to do is make a list of all the pros & cons of both that you can think of, then think of the best case outcome & the worst case outcome of each decision. Are you willing to risk getting the best case outcome, if there is a possibility of the worst case outcome? Would you be OK with the worst case outcome? Would you be satisfied if you didn't get the best case outcome? I think if your write all this out on paper, it will help you get a clearer picture, and be able to make the right decision for you.

 

[Its Z]

Get an MHA or MBA with emphasis on healthcare admin.

Get involved with quality initiatives at the hospital.

Skip the residency at this point in your career.

 

[ngmc11]

I did graveyard for a year then went back to do residency. Now I'm a clinical pharmacist. 🙂

 

[cycloketocaine]

I work in a top 10 hospital as overnight staff pharmacist, I like it a lot and they like me a lot too. I don't want to be doing the same thing 10-15 years from now though, even if the shift change. I didn't do a residency straight out of school because I had to take care off family stuff, but that's taken care off now for the most part ( I still have to be relatively nearby). If I buy a house, then I will pretty much forget about residency (starter home is around ~400k where the hospital is) and if I do a residency, then I won't be able to buy a home for the next 5 years (one of the benefits of the hospital I am working in now is 40k grant toward a down payment, which I won't be able to use if I left to do a residency)

The hospital doesn't have a pharmacy residency program, and probably won't get one in the next 5 years. They have pretty good clinical pharmacists core who been there forever and got their Pharm.D when it's used to be optional and actually worth something.

What would you do? Buy a house, settle down, and hope for an administration position down the line (or maybe even clinical?)

or do a residency for a clinical position a lot sooner, but risk losing a very good chance now?

I am married with no kids and no plans for kids for the next 2 years either way because my wife is doing her masters.

At this point is your application strong enough to get a residency? The match rate goes down significantly for those who have been in the workforce. It's just something else to consider....I also vote for skipping the residency at this point. However, your decision should be based on your career goals. Do what would make you happiest in your career.

 

[emersonkelly]

You can even buy a house at a later stage but you cannot do residency. So it is better to go for residency!!😎