I'm considering a career in peds and have been given the idea that specializing would give a higher level of financial flexibility - is that generally true, do all peds specialists make > $200,000. One negative thing I have been told about specializing in peds is that you should tie yourself to an academic institution b/c they are generally the places that will get the majority of the "specialist's" patient population. From what infer then is that the upside with tying yourself to an institution is that you are assured patients, however the downside is that you are employed and therefore have higher risk in terms of job security (as you age, the place may desire to find a younger doctor for a cheaper salary) in comparison to private practice where you could make more money but maybe not be assured patients. Am I reading the situation correctly? Any comments anybody could add?