Recent Salary Contracts

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The average salary for a pharmacist is $100,000 and I could become one with 1/2 the schooling. :thumbup: Good information. Of course a podiatrists job is much more interesting and allows for many more opportunities, in my opinion.
 
One thing to think about is the meaning of the word employed. If it is referring to an associate/ non-partner or if it includes partners and solo practice docs. I also think the numbers get skewed from part time workers and the such.

I would think that the above reference is referring to associates and not private practice partners.
 
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templepodnc said:
One thing to think about is the meaning of the word employed. If it is referring to an associate/ non-partner or if it includes partners and solo practice docs. I also think the numbers get skewed from part time workers and the such.

I would think that the above reference is referring to associates and not private practice partners.
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It sounds to me as if it only counts employed podiatrists and not practice owners. It also uses the word "average" and the average is not the same as median of course. The median income could be on either side of that $99,000 figure.


Darklord said:
The average salary for a pharmacist is $100,000 and I could become one with 1/2 the schooling. :thumbup: Good information. Of course a podiatrists job is much more interesting and allows for many more opportunities, in my opinion.
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From what I understand, pharmacists start out close to $100,000 per year but also top out more or less right away. I am guessing that they also start their careers without as much student loan debt, but who knows? I think the main thing that you stated was that you think one career is much more interesting than the other. With either career, you would make greater than average income, so hopefully you pick the one that you find most interesting. Pretty much any medical career can give you a greater than average income so once you get past that consideration you are left with deciding what kind of work you would like to do for a big chunk of your lifetime. One of my riding buddies is a hospital pharmacist and he loves it. He did the six-year integrated track like you are considering.
 
NatCh is he a clinical pharmacist (rounds inpatients) or a normal hospital pharmacist (sits in the pharmacy filling orders)?
 
Darklord said:
NatCh is he a clinical pharmacist (rounds inpatients) or a normal hospital pharmacist (sits in the pharmacy filling orders)?
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I know for certain that he rounds on ICU and other inpatients, but I think he also fills orders. They had some layoffs, mandatory days off, and a 5% pay decrease several months ago. Given those measures I doubt the hospital has anyone just sitting around. I'm sure they squeeze all the work that they can out of their employees and have multifunctioning staff.
 
NatCh said:
Before anyone starts crying in his beer, let's not forget that $99,000 per year is still a lot of money. Most non-medical professionals will never make that much in the course of an entire career.
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Unfortunately we are not "Non-medical professionals". So there is no question of comparision. they dont go thru what we go thru. We are subjected to all hardships and miseries the other MD Students go thru. we finish 7yrs of education to get 99K while MD surgical specialitis get to make in triple digits. but then again what can be done abt it. truth is harsh and real. hope prepods do more resarch from board certification problems, residency issues/shortage , salary,etc before running towards podiatry.

Iam not even concerned about salary at this moment. the first thing is getting a residency in this shortage situation.
 
cool_vkb said:
Unfortunately we are not "Non-medical professionals". So there is no question of comparision. they dont go thru what we go thru. We are subjected to all hardships and miseries the other MD Students go thru. we finish 7yrs of education to get 99K while MD surgical specialitis get to make in triple digits. but then again what can be done abt it. truth is harsh and real. hope prepods do more resarch from board certification problems, residency issues/shortage , salary,etc before running towards podiatry.

Iam not even concerned about salary at this moment. the first thing is getting a residency in this shortage situation.
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Harsh but very true vbk...
 
http://swz.salary.com/salarywizard/layoutscripts/swzl_salaryresults.asp?hdSearchByOption=0&hdSearchByOption=0&hdKeyword=Physician%20-%20Podiatry&hdJobCategory=HC03&hdZipCode=&hdStateMetro=&hdGeoLocation=U.S.%20National%20Averages&hdJobCode=HC07000103&hdJobTitle=Physician%20-%20Podiatry&hdCurrentTab=&hdNarrowDesc=Healthcare%20--%20Practitioners


Now i did this just for you cool vbk because i feel with you man i know how this upsets you alot and u have right to be ... but i mean this site cant be that wrong and if it is it shouldn't be that off... scroll down and compare to all of the other docs ( except Anesthesiology)

This website is nice too because the tabs give you info of the salary break down, bonus, and a possible amount you may get in your check.
 
Also because i have great respect for the guy and since he said this in 2005 and things seem to be going this way which we need to give him credit for predicting :

""""
jonwill
11-13-2005, 05:18 PM

I have a hard time believing any of the reports. The numerous people that I have followed that have gotten out of residency are starting anywhere from $120,000-$150,000. I've seen enough of this now to believe that this is a pretty accurate standard for guys coming out of residency. A lot of multi-specialty and orthopaedic groups are now realizing how much money we can make for them and they are willing to pay for it. As far as the "reports" are concerned, there are just too many factors involved to be accurate (part-timers, small private practices, etc). In my hometown in NM, the group that I am interested in is starting pods out at $130K. After 10 years, they have told me to expect making high 100's or low 200's. Keep in mind that all of my friends have ended up in multi-specialty and ortho groups, which seems to be where most pods are ending up these days.

''''''
 
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cool_vkb said:
Unfortunately we are not "Non-medical professionals". So there is no question of comparision. they dont go thru what we go thru. We are subjected to all hardships and miseries the other MD Students go thru. we finish 7yrs of education to get 99K while MD surgical specialitis get to make in triple digits. but then again what can be done abt it. truth is harsh and real. hope prepods do more resarch from board certification problems, residency issues/shortage , salary,etc before running towards podiatry.

Iam not even concerned about salary at this moment. the first thing is getting a residency in this shortage situation.
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If $99K is what the market will bear then that's what it is whether it is right or not. One thing that can be done about it is to not rely on the hope that someone gives you "a sweet job" and plan to own your own practice within a few years. You can get angry or you can get a plan. One gives you heartburn and the other gives you ideas.

Well, at least we didn't spend as many years earning a PhD to end up teaching at a state college for $38K/year.

Edit: keep in mind that $99K was an average from an informal survey in an industry magazine. At the ends of the spectrum one respondent earns $10K and another earns $200K. It may not be close to the actual median income.
 
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NatCh said:
If $99K is what the market will bear then that's what it is whether it is right or not. One thing that can be done about it is to not rely on the hope that someone gives you "a sweet job" and plan to own your own practice within a few years. You can get angry or you can get a plan. One gives you heartburn and the other gives you ideas.

Well, at least we didn't spend as many years earning a PhD to end up teaching at a state college for $38K/year.

Edit: keep in mind that $99K was an average from an informal survey in an industry magazine. At the ends of the spectrum one respondent earns $10K and another earns $200K. It may not be close to the actual median income.
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100% right ... Bottom line, i believe that you work for someone for a few years to feel the business and how to run a practice and that way you wont have a rough time starting your own within those years your working for someone... once you have yours and it picks up the sky is the limit and then you will net those great salaries that you hear about ( 300k+) lol...
 
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G0dFather said:
http://swz.salary.com/salarywizard/...Tab=&hdNarrowDesc=Healthcare -- Practitioners


Now i did this just for you cool vbk because i feel with you man i know how this upsets you alot and u have right to be ... but i mean this site cant be that wrong and if it is it shouldn't be that off... scroll down and compare to all of the other docs ( except Anesthesiology)

This website is nice too because the tabs give you info of the salary break down, bonus, and a possible amount you may get in your check.
Click to expand...


the middle 50% in this make 120K-214K
 
G0dFather said:
100% right ... Bottom line, i believe that you work for someone for a few years to feel the business and how to run a practice and that way you wont have a rough time starting your own within those years your working for someone... once you have yours and it picks up the sky is the limit and then you will net those great salaries that you hear about ( 300k+) lol...
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I know this is anecdotal, but FWIW from personal acquaintance with DPM's in the Western US, I completely believe that quoted estimated average of upper $100K to low $200K ten years out. To boot, the work demands of the guys I've known really hasn't been all that hard relative to what an MD has to do as a part of the job. I've personally known folks who made much, much more though. To do that you have to think like an entrepreneur, not like an employee.
 
NatCh said:
If $99K is what the market will bear then that's what it is whether it is right or not. One thing that can be done about it is to not rely on the hope that someone gives you "a sweet job" and plan to own your own practice within a few years. You can get angry or you can get a plan. One gives you heartburn and the other gives you ideas.

Well, at least we didn't spend as many years earning a PhD to end up teaching at a state college for $38K/year.

Edit: keep in mind that $99K was an average from an informal survey in an industry magazine. At the ends of the spectrum one respondent earns $10K and another earns $200K. It may not be close to the actual median income.
Click to expand...

lol iam not sad. i was just speaking for podiatry students as whole. i have some decent backup plans in mind. As i said iam not even concerned abt salary at this moment. the main thing is residency position.
 
PADPM said:
Now here comes the part where I've seen many associates ruin the relationship early on in their contracts. They agree to a set number, and then get "pissed off" when they begin to "count the other doctor's money".

I'll give you a perfect example;...
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I'm a pediatric dentist finishing residency next month, just signed my first contract as an associate with opportunity to buy in for partnership in one year. Your post is one of the BEST I've read in a while. The feelings depicted in it apply to all associates across medical fields, and I think you have a lot of sage advice and wisdom in it.

Thanks!
 
ItsGavinC said:
Sounds like the sample size isn't great. That's nearly a 100k swing for the "middle 50". More samples would equate to a more definitive middle percentile.
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its just, like everyone says, a variable career because if you want to work cutting calluses and work only like 20-30 hours a week you will make less, and if you are working 60+ hours a week and bustin your you know what you will no doubt be making so much more! its just basic math. but what incites my curiousity is the fact that it IS so variable for those that are doing the normal 45ish hours a week because one could be say, an associate, or with an ortho/multi group. It all depends on what you want to do? (yes that was meant to be a question)...

little help
 
Nanocure said:
Most would agree that podiatry has advanced light years ahead of where the profession was over the past decades. Since 6 years have past I wanted to know what recent salary contract ranges residents have received.
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Ok. I don't know if things have changed that much. Most of my friends took job offers around the same amount as what was discussed in this thread. The thread does bring up a lot of good points during the discussions between PADPM and NatCH.
 
I sure did talk a lot back then.
 
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I am a recent graduate with 3 year surgical training. I was presented with a job offer from another podiatrist who wanted to pay me $30/hour. Let me know your thoughts about this pay. Is this acceptable?
 
fldpm said:
I am a recent graduate with 3 year surgical training. I was presented with a job offer from another podiatrist who wanted to pay me $30/hour. Let me know your thoughts about this pay. Is this acceptable?
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How many nails/calluses do you have to debride per week? How many patient's per day? If no quota, then I say it sounds reasonable.
 
fldpm said:
I am a recent graduate with 3 year surgical training. I was presented with a job offer from another podiatrist who wanted to pay me $30/hour. Let me know your thoughts about this pay. Is this acceptable?
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No. Hell no. Run, don't walk.
 
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Is this really reasonable? 60k a year after 8 years of school and 3 years residency?

How is this going to pay for your loans?
 
As a reference, Family Practitioners sometimes take auxiliary work (nursing home clinics, etc.) at $85-$135 per hour and they don't bill nearly as high as we can (due to procedures paying more than office visits). $30/hour is insulting. After an eight hour day you'd make $240 before expenses, before taxes. Also for reference, I once calculated that my average collection is around $200 per patient encounter (it's probably more now that I do less C&C).

Not only would it be difficult to pay for your loans, you would have a hard time paying your malpractice, licensing, CME, accounting fees, and the dozen other incidental expenses you might not have thought of. Your expenses would likely exceed what you'd make. If someone offered me $30/hour I wouldn't even bother negotiating. I'd just leave.
 
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Screwtape said:
~$60k pre-tax is reasonable for a podiatrist after a three year residency?! That's not much more than residency pay right?
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That's right around your pay as a resident.
However, i don't think we should take someone with 1 post seriously. Even if the poster did get that offer, the decision should be a pretty easy NO.
 
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