Need help with a Big Decision/How Accurate is the MGMA Survey?

[surfguy84]

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So I was selected to receive a HPSP from the US Army....but I'm having second thoughts. The perks sound great while you're in school/residency, but once you're out serving your time, your pay isn't the best. Based on specialty, I'd be looking at around $130,000 salary.

I recently got a hold of the MGMA physician salary survey and was absolutely blown away by the numbers. For many specialties (even the non uber-competitive) the survey suggest median pay is WELL above what the military would pay...like ~150-200k in some instances. Considering I'd be in the military for 4-5 years, I could theoretically be leaving 6-900k on the table....obviously not worth it, if looking at things from a pure financial perspective...

My question is, how realistic is this MGMA survey? If not realistic, anyone know what actual salaries are like? 75% of those listed? 50%? Any advice very much appreciated.

 

[Mad Jack]

Those numbers are total compensation, which is not equivalent to salary. Between 25-30% of those salaries is going to be benefits (malpractice, vacation CME, retirement, disability insurance). So a 300k MGMA total comp is equivalent to something like 225k salary, and a 240k MGMA total comp is equivalent to about 180k salary. The military IS NOT WORTH IT if you are doing it for the money though, as you will lose your ability to choose a speciality in the milmatch, possibly get thrown in GMO land, you won't get to choose where you live, and might end up on the ground shoulder to shoulder with Marines in Afghanistan or wherever the next conflict is. Do it if you want to serve, or don't do it at all.