Moonlighting

Discussion in 'Psychiatry' started by postbacpremed87, 05.21.14.

  1. SDN is made possible through member donations, sponsorships, and our volunteers. Learn about SDN's nonprofit mission.
  1. postbacpremed87

    postbacpremed87 5+ Year Member

    Joined:
    01.26.11
    Messages:
    1,843
    Status:
    Medical Student
    How much did you make moonlighting in your psych residency years? I'm a budget guy and I wanted to see if I could pay off all med school debt during residency. I plan on devoting whole paycheck to loan repayment (spouse works).
     
  2. SDN Members don't see this ad. About the ads.
  3. Shikima

    Shikima 10+ Year Member

    Joined:
    10.15.06
    Messages:
    3,294
    Status:
    Attending Physician
    Verified
    Physician
    Get into residency first and then whichever program you match at will have unique moonlighting rules.
     
  4. postbacpremed87

    postbacpremed87 5+ Year Member

    Joined:
    01.26.11
    Messages:
    1,843
    Status:
    Medical Student
    Perhaps a general picture of what's possible?
     
  5. Shikima

    Shikima 10+ Year Member

    Joined:
    10.15.06
    Messages:
    3,294
    Status:
    Attending Physician
    Verified
    Physician
    Can't say, each program is different. When I went through I had X dollars for Y work, and then the following year (PGY-3), they took it all away saying that it's apart of your normal work rotation, so, we had to suck it up as buttercups. Some programs don't even allow moonlighting.

    Again, contact the deptarment and ask them what the moonlighting requirements are.
     
  6. OldPsychDoc

    OldPsychDoc Senior Curmudgeon Moderator Emeritus SDN Advisor 10+ Year Member

    Joined:
    12.02.04
    Messages:
    5,567
    Location:
    Left of Center
    Status:
    Attending Physician
    Verified
    Physician
    The golden years of moonlighting are pretty much over.
     
  7. notdeadyet

    notdeadyet Still in California SDN Moderator 10+ Year Member

    Joined:
    07.23.04
    Messages:
    11,483
    Status:
    Attending Physician
    I'd caution against being too all or nothing with moonlighting. Some really helps your development as a clinician, more plateaus out, and too much actually hampers it. I moonlight a lot, but I can fell that edge where it could start to actually impact residency training, which you only have the opportunity to do once.

    Personally, I'd try to moonlight and pay off some of the loans, but make the most out of residency. You will have more opportunity and better pay to go hogwild immediately after becoming board eligible.
     
  8. Sporadicus

    Sporadicus 2+ Year Member

    Joined:
    05.12.14
    Messages:
    29
    Status:
    Resident [Any Field]
    My program allows its residents to moonlight much as they want once they finish the C/L rotation in PGY2, most of the PGY3's moonlight doing a couple of weekends a month; some go outside the program altogether and find random places like juvenile detention centers. I wouldn't count on more than a couple thousand a month.

    On the interview trail the highest number I heard was $50k, and I believe that came from a guy at Yale.

    That being said, I totally agree with notdeadyet. Why not wait until after residency to pull the insane hours? Your time will be worth a lot more then. If you can afford to pay $5,000 a month out of your post tax budget, you can live very comfortably and still knock out a quarter million loan in ~ 5 years
     
  9. cookymonster

    cookymonster 7+ Year Member

    Joined:
    09.08.09
    Messages:
    282
    I moonlight for 60-72 hours a month at $100/hour. I'd say it's pretty easy work. I never really had much in the way of loans, so financially what it means for me is that I put pretty much all my residency salary in various tax-deferred retirement vehicles (401k, 457, 403b, HSA and Roth IRA).
     
  10. TexasPhysician

    TexasPhysician SDN Moderator 7+ Year Member

    Joined:
    09.01.08
    Messages:
    3,714
    Status:
    Attending Physician
    Verified
    Physician
    40-50k additional per year for me.
     
  11. Firewood

    Firewood 7+ Year Member

    Joined:
    09.24.06
    Messages:
    101
    Status:
    Resident [Any Field]
    Out of curiosity, how many nights and/or weekends a month are you moonlighting?
     
  12. MDchouette

    MDchouette 7+ Year Member

    Joined:
    12.13.08
    Messages:
    132
    Status:
    Resident [Any Field]
    Someone at my program (in MA) doubled her salary as a PGY4 doing more moonlighting than I could and stay sane, but she felt great about it. As a PGY3 I found it tolerable to do two overnight weekend shifts a month, which was a little less than $2000 per month after taxes.

    Keep in mind that you are going to have to allot a third of whatever you bring home to pay in taxes, since most places will pay you as a contractor.

    You definitely need to find out the moonlighting rules for your program. Hopkins doesn't allow moonlighting. Cambridge pays you to take extra call. There's a lot of variability.
     
  13. TexasPhysician

    TexasPhysician SDN Moderator 7+ Year Member

    Joined:
    09.01.08
    Messages:
    3,714
    Status:
    Attending Physician
    Verified
    Physician
    Hard to say as I have multiple moonlighting jobs to keep things interesting.
     

About the ads

Similar Threads
  1. cherryalmond
    Replies:
    2
    Views:
    1,058
  2. chemist157
    Replies:
    33
    Views:
    4,701
  3. DNA-RL
    Replies:
    1
    Views:
    1,279
  4. uclabruin1
    Replies:
    5
    Views:
    1,667
  5. Bostonredsox
    Replies:
    3
    Views:
    1,644
Loading...

Share This Page