How much can you make starting out of residency?

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sibylline170

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I am trying to consider pros and cons of podiatry and dentistry
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Others can answer in detail, I think looking at other posts answers this question

Range is 0 (percentage of collections only) to over 300K
 
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pod squad said:
You mean you weren't born with a deep passion for treating feet?! How dare you even consider applying to podiatry school!

Realistically I would expect around 125-150k on average. The '300k+' jobs are few and far between...
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i didn’t mean that!! thankss
 
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Sweatshirt said:
Once I hopefully land concrete in the next few months, I'll post about my process! Long story short look rural and get out of major cities
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Wonder where you heard that from....
 
I know of two upcoming openings for hospital jobs. Not rural, full scope. They exist, network early on and get good training.

320k + wRVU productivity bonus first 2 years then transition to straight wRVU. Graduated 2020. No fellowship.
 
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wakaflocka88 said:
I know of two upcoming openings for hospital jobs. Not rural, full scope. They exist, network early on and get good training.
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I know of one in Central FL with a large MSG... full scope, BQ or BC required (ABFAS preferred), rearfoot sx experience preferred.

Like you said, if on Indeed or LinkedIn, would have tons of apps.
 
It definitely varies.

My first year out I made about $160K. I worked part time for two podiatry practices (making a full time) schedule
 
king22 said:
It definitely varies.

My first year out I made about $160K. I worked part time for two podiatry practices (making a full time) schedule
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I made 150k at a rural hospital job... that hospital is notorious for underpaying their doctors and most docs leave because of pay. I left after 5 years for a job that paid 240k.
 
Out of residency my starting salary was 250k plus incentive bonus structure (After 100% wRVU of equivalent of 250k I got 50% collections) guaranteed for 2 years. Then after that I went to straight wRVU.

Also benefits, 30 days paid vacation, and CME allowance.
 
newfeet said:
I made 150k at a rural hospital job... that hospital is notorious for underpaying their doctors and most docs leave because of pay. I left after 5 years for a job that paid 240k.
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I actually heard that some rural jobs will offer a lower salary but try to make the argument that the lower cost of living plus lower taxes should cover the difference which is completely bogus to me (if anything they should offer more to incentivize people to move to that area).

Were there any other perks to the job like annual raises, student loan payback (if applicable for you), etc?
 
DYK343 said:
Out of residency my starting salary was 250k plus incentive bonus structure (After 100% wRVU of equivalent of 250k I got 50% collections) guaranteed for 2 years. Then after that I went to straight wRVU.

Also benefits, 30 days paid vacation, and CME allowance.
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Wow that's a dream offer, what kind of set up was it? Ortho group?
 
SouthPod7 said:
I actually heard that some rural jobs will offer a lower salary but try to make the argument that the lower cost of living plus lower taxes should cover the difference which is completely bogus to me (if anything they should offer more to incentivize people to move to that area).
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Remember that the lowest salary any hospital will offer is >>>>>> higher than the highest offer any Podiatry PP will offer.

MD/DO can play hardball and negotiate for higher pay at a rural hospital however for a DPM if you choose to play hardball and they decide to post the job opening, the rural hospital will get over 100 applicants and more than half of them are fellowship trained.
 
pod squad said:
Wow that's a dream offer, what kind of set up was it? Ortho group?
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MSG

I had a second relatively equivalent offer but chose this one as location was much better.

I had really solid training and a solid application. Not everyone is going to get this contract but those jobs are out there. They become even easier to find if you get ABFAS with RRA certified. Employers/recruiters do look for that.
 
DYK343 said:
MSG

I had a second relatively equivalent offer but chose this one as location was much better.

I had really solid training and a solid application. Not everyone is going to get this contract but those jobs are out there. They become even easier to find if you get ABFAS with RRA certified. Employers/recruiters do look for that.
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Any advice if you were to look back? Things you would have done differently as a resident to be better prepared?
 
DYK343 said:
Out of residency my starting salary was 250k plus incentive bonus structure (After 100% wRVU of equivalent of 250k I got 50% collections) guaranteed for 2 years. Then after that I went to straight wRVU.

Also benefits, 30 days paid vacation, and CME allowance.
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is that from workin at a hospital? urban or rural setting?
 
619 said:
MD/DO can play hardball and negotiate for higher pay at a rural hospital however for a DPM if you choose to play hardball and they decide to post the job opening, the rural hospital will get over 100 applicants and more than half of them are fellowship trained
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The one thing to remember for those people calling any facility who doesn’t already employ podiatrists, is that they probably don’t know this dirty little secret. Especially a rural facility. If their only experience is trying to recruit other medical specialties (ie ortho, Gen surg, OBGYN, etc) then they might assume it is just as hard to recruit podiatry. Our facility has been looking for an endocrinologist, psychiatrist, and another OB provider for like 2 years now.

Rural facilities will generally pay podiatry well because they more than likely have to pay well in order to get other docs. My base salary is median MGMA “compensation.” Which means my salary is larger than a lot of other employed docs (assuming they are in line with MGMA data, which isn’t always true) because my “compensation” is even higher than that salary alone.

Ideally you get a job like that and admin never realizes that you could easily be replaced by someone who will take even less money than you are being paid because there are a lot more desperate podiatrists than there are MD/DOs. Admin doesn’t always care about turnover, though I think in the current market they have learned the hard way that replacing staff (including nursing staff) is a lot harder than they thought it would be, or at least harder than it used to be. I haven’t found that most of my friends in more rural jobs are getting paid less because of cost of living. If they are being paid less it’s usually more of a volume thing. You can’t see 40 patients a day when there aren’t 40 people/day to see like there might be in a bigger metro.
 
pod squad said:
Wow that's a dream offer, what kind of set up was it? Ortho group?
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His group is owned and run by clipboard nurses.

They get 0.1 wRVU for wound debride consents, 0.2 wRVU for ingrown consents, 0.5 wRVU for each expired steroid vial they find, etc. Their wRVUs are subtracted from his bonus.
 
Feli said:
His group is owned and run by clipboard nurses.

They get 0.1 wRVU for wound debride consents, 0.2 wRVU for ingrown consents, 0.5 wRVU for each expired steroid vial they find, etc. Their wRVUs are subtracted from his bonus.
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Don't forget about NDC numbers
 
Weirdy said:
Any advice if you were to look back? Things you would have done differently as a resident to be better prepared?
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I was a monster of a resident. I never stopped moving and did everything I could/learned everything I could.
It was a tough 3 years but worth it in the end. Easily pushed >80hrs a week even though not legal to work that much.
Not sure what I would have done differently...
Feli said:
His group is owned and run by clipboard nurses.

They get 0.1 wRVU for wound debride consents, 0.2 wRVU for ingrown consents, 0.5 wRVU for each expired steroid vial they find, etc. Their wRVUs are subtracted from his bonus.
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Ugh. It makes my quality of life poor. Income is good but its such a pain in the A to have to deal with stupid policies.
I guess that means no job will be perfect
Clipboard nurses really do make it hard to tolerate though.
I would take 50k less a year to not have them breathing down my neck.
 
DYK343 said:
MSG

I had a second relatively equivalent offer but chose this one as location was much better.

I had really solid training and a solid application. Not everyone is going to get this contract but those jobs are out there. They become even easier to find if you get ABFAS with RRA certified. Employers/recruiters do look for that.
Click to expand...

Agreed. Employers with large groups also like if you have work experience compared to new grad or fresh fellows. I’m not rural, compensated very well. Again - the saying that doing a fellowship will guarantee you what DYK343, dtrack and I have is slim. May help but someone with solid coup
 
SouthPod7 said:
I actually heard that some rural jobs will offer a lower salary but try to make the argument that the lower cost of living plus lower taxes should cover the difference which is completely bogus to me (if anything they should offer more to incentivize people to move to that area).

Were there any other perks to the job like annual raises, student loan payback (if applicable for you), etc?
Click to expand...

There was an rvu incentive program. It didn’t have annual raise. No student loan repayment. But it was quality for the PSLF program. It had cme, 4 weeks PTO 403b. My current job that I’m leaving has a rvu incentive program, loan repayment help and all the stuff the other job had.
 
DYK343 said:
I was a monster of a resident. I never stopped moving and did everything I could/learned everything I could.
It was a tough 3 years but worth it in the end. Easily pushed >80hrs a week even though not legal to work that much.
Not sure what I would have done differently...

Ugh. It makes my quality of life poor. Income is good but its such a pain in the A to have to deal with stupid policies.
I guess that means no job will be perfect
Clipboard nurses really do make it hard to tolerate though.
I would take 50k less a year to not have them breathing down my neck.
Click to expand...
DYK If you ever want to move west…lmk. Need serious help with my group, getting slammed. And we have zero clipboard nurses 😂
 
Out of residency it was 190ish plus end of year bonus to 401k, matching 401k, cme days/money, 4 wk vacation
 
1st job 200k salary with bonus left in 18 months. I think 20k signing. Semi rural MSG. 4 wks vacay.

2nd job was 215, 20k loan reimbursement for 5 years, 60k signing bonus. 401k with 8 percent match, 457b available. Rural hospital/MSG. 6 wks vacation. Left after 3 years.

3rd job 100%collections based, no salary. W2/1099 hybrid. I pay both sides of SS taxes, pay own health insurance including premiums etc. No 401k match but am able to indirectly do both sides of 401k. Small Ortho group. As much vacation as I want. Basically 100 percent autonomy.
 
180k dead foot patrol at hospital, bonus every quarter (so bonus after billing out roughly 45k worth of rvus); 20k signing bonus
base went up to 240k after two years with the same bonus structure; ended up being 365 to 400 at year end
new job with MSG; start at 208k with eat what ya kill bonus structure quarterly; partner with the pod group and buy in with the MSG for 5k or so after 2 years, got a clause if they do sell out to someone before the 2 years is up, then I can buy in before that happens
 
hotpoddy said:
180k dead foot patrol at hospital, bonus every quarter (so bonus after billing out roughly 45k worth of rvus); 20k signing bonus
base went up to 240k after two years with the same bonus structure; ended up being 365 to 400 at year end
new job with MSG; start at 208k with eat what ya kill bonus structure quarterly; partner with the pod group and buy in with the MSG for 5k or so after 2 years, got a clause if they do sell out to someone before the 2 years is up, then I can buy in before that happens
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More power to you. Sick deal with MSG.
 
hotpoddy said:
180k dead foot patrol at hospital, bonus every quarter (so bonus after billing out roughly 45k worth of rvus); 20k signing bonus
base went up to 240k after two years with the same bonus structure; ended up being 365 to 400 at year end
new job with MSG; start at 208k with eat what ya kill bonus structure quarterly; partner with the pod group and buy in with the MSG for 5k or so after 2 years, got a clause if they do sell out to someone before the 2 years is up, then I can buy in before that happens
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Congrats, well done
 
MSG

245k + quarterly bonus based on easily attained random metrics (totals ~ 10% of my salary for all 4 quarters combined), 401k w/match, malpractice, medical, CME $$$, 5 weeks vaca, buy-in as shareholder after 2 years, moving allowance, 40/20 min blocks for new/est patients.
 
MusicManMike said:
245k + quarterly bonus based on easily attained random metrics (totals ~ 10% of my salary for all 4 quarters combined), 401k w/match, malpractice, medical, CME $$$, 5 weeks vaca, buy-in as shareholder after 2 years, moving allowance, 40/20 min blocks for new/est patients.
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Nice set up! With your block schedule structure for patient visit, what's the average patient you see daily. And how many days of clinic a week.
 
Echo Mike above, similar set up.

MSG. 320k + wRVU + quarterly metrics as well with up to 20% bonus of my salary if I exceed MGMA RVUs otherwise no minimum. $25k sign on bonus, very generous CME, 401k match+gift, medical, malpractice, accrue vacation instead of an allotment all at once. Shareholder after 2 years. Full autonomy of schedule, currently have 1.5 block day of OR per week - might increase it to 2 days if it can be filled more consistently. Surgery overall reimburses well on a wRVU system, especially quick forefoot/lapidus cases. 15 min pt slots for new and established and average around 28 a day.
 
On my schedule, ~18-23 pts per day. I run an additional wound clinic at the same time so in reality ~ 25-30 pts per day. 5 days of clinic per week, 1 loaded sx day per month (minus hospital stuff).
 
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MSG employed as well. More of a PP model MSG, pure production 50% of gross. No limit to income. Full autonomy. Unlimited vacation as long as I cover my overhead, so I can work as much or as little as I want. 4 days clinic, 1 day OR. Not terribly busy yet but still billing 1.5x more than the PCP's in the group, who earn 200-300k.
 
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