As a senior psychiatrist, do you have any general advice about how to not plateau? I see staying in academia for 2-4 years after residency. What do you recommend after that? And then after that? etc.
Have goals than simply just doing inpatient over and over and over. Changing up the clinical routine will make you a better clinician. E.g. do some PES, some consult, switch it up once in awhile. Doing that will also help you should you go the administration route cause you now know and have mastered all the systems so in a leadership position you'll be able to strategize better. If you've mastered all the clinical stuff move onto other stuff such as Ketamine, ECT, treatment-resistant psychosis, Buprenorphine, depression etc. (Just an an example, I did PES, outpatient, inpatient, addiction (with Buprenorphine but other stuff too), TMS, just never got around to doing ECT but had I stayed in Cincinnati I was going to get into it.
So if in academia, you master clinical practice, but then you need to master the administrative stuff. Similar to clinical practice you can then move up and become a clinical director or program director. Then there's research and publications. Some institutions that's the only way to significantly advance. Along with that comes a state-wide and national presence. Make connections at conventions, other institutions, collaborate.
If you get up in academia this possibly could lead to a lot more money if you were make a name for yourself in research or selling books, but the pure university track doesn't make much money.
Just as an example had I stayed in Cincinnati I was thinking of writing several articles on the area of ECT and forensics cause many states won't let you do involuntary ECT without the next to impossible. E.g. one patient with treatment resistant psychosis wasn't able to get ECT for over 2 years of court hearings. I was also thinking of advancing the field of psychological autopsies. The Buprenorphine thing was a major advantage in forensic evaluations for clinicians who abused opioids, cleaned up, and wanted to go back into practice.
If in a state school you could likely be set up with a great retirement plan, but if in a private university there might not be much if any of a plan at all. So when I was in U of Cincinnati, I was making over $200K but with the retirement plan assuming I lived to about 75 I would've been making the equivalent of about $300K a year, but at the newer place in St. Louis where I wasn't intellectually, professionally or even academically happy I was making $180K a year and the retirement plan was terrible so all in all it really was just about $180K. I spent more time in work not doing psychiatry vs real psychiatry. E.g. the 15th time I called IT yet again and asked them to fix the same computer that was broken before I got there and was broken the last day I left. I had to drive between the local jail and the university which was about 30 minutes each way. Simply walking from the parking lot to my office in the jail was 30 minutes cause of all the security checkpoints...
If money is a big thing for you, you will come to a point where you either have to accept academia will not make money or figure a way to monetize it that's outside the box. E.g. write a book. Being a professor this book can be used as a publication for your CV for further advancement but it might take off. If you want to make more money and not do something outside the box then go into private practice.
I'm still not against the idea of writing something (mostly a pipe-dream) such as doing a series of videos for Youtube designed to teach people about psychiatry emphasizing things that should've been told in the doctor's office but almost never is. I already did some projections on the Youtube thing and I couldn't expect it to make it for money cause it'd have to a number of hits that wouldn't make it cost-effective.