Starting Salary out of Residency?

[PublicHealth]

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What kinds of offers are people fresh out of residency getting?

 

[Poety]

What kinds of offers are people fresh out of residency getting?

From what I've heard through recent grads: 150K is the avge.

 

[psych2b]

really?! I thougth 120K was more the going rate... 90K in some places, but not on average (hopefully... those loans look mighty scary to me right now).

 

[Poety]

really?! I thougth 120K was more the going rate... 90K in some places, but not on average (hopefully... those loans look mighty scary to me right now).

I've only got this from 3 docs, just graduated, so don't take it as the end all be all! Could definitely be higher or lower depending on where you are in the country and what you're going into!

 

[Solideliquid]

really?! I thougth 120K was more the going rate... 90K in some places, but not on average (hopefully... those loans look mighty scary to me right now).

 

[PublicHealth]

I've only got this from 3 docs, just graduated, so don't take it as the end all be all! Could definitely be higher or lower depending on where you are in the country and what you're going into!

You're in Hawaii, right? Those $150K/year offers must be the "bait" to lure more psychiatrists to the islands, no?

 

[PublicHealth]

really?! I thougth 120K was more the going rate... 90K in some places, but not on average (hopefully... those loans look mighty scary to me right now).

I've also heard 90-120K/year range. Academic positions as definitely in this range, although I'm not sure what the starting salary is for an assistant professor of psychiatry. Anyone?

 

[i61164]

I am just guessing, but based on Poety's ROL I think she is in the Southeast (even though she may come from Hawaii). In general, physicians get paid more in the Southeast.

 

[MBK2003]

Colleague got offered $155K per year plus benefits for a salaried inpatient/outpatient with 1:4 call in a smaller city within a New England State.

Also I've gotten offers from a midwestern facility (think cold, think flat) for $180K inpatient/outpatient with significant call & weekends writing notes on the unit admits.

Neither were academic positions. I have a colleague whose spouse was offered $90K for assistant professor level clinical position at a prestigious East Coast institution. The real kicker was that this institution took a very big chunk of your private practice $ because you were using their institutional affiliation to get referrals. The ivory tower makes you pay for having the privilege of serving them.

MBK2003

 

[Strap]

What kinds of offers are people fresh out of residency getting?

One current 4th year just got a faculty position at the State University and the offer was $120,000 base and an extra $2000 per weekend call. Not bad considering the relatively low cost of living in that area.

 

[Poety]

These docs were in New Jersey and in Southeast 🙂 One academic, the other two not. No fellowships with any of them.

 

[sga430]

is there much difference in starting pay for those who have done fellowships? how about those who finished pain fellowships?

 

[Doc Samson]

The range of my classmates are (not including my paltry $55K for a year of fellowship):

$110,000 for an academic slot in Boston

to

$200,000 for a group psychopharm practice in the Mid-West

 

[OldPsychDoc]

Midwest was running 130s and up for salaried outpt positions with not much call. Also saw a starting salary of 160+ for an inpatient job in a flat place in the middle of nowhere...

 

[Poety]

How do we get job offers btw? Are they gunna seek us out or do we do an actual job search? I'm probably going to do child (severely impaired) so I'm hoping to start around 150K with an upward pay of 250K when I get my practice going. My mentor told me to do child either way since you're not limited in your scope of practice and you can see anyone without restrictions. Maybe I'll do child/neuro/forensics kidding, kidding.

 

[OldPsychDoc]

How do we get job offers btw? Are they gunna seek us out or do we do an actual job search? I'm probably going to do child (severely impaired) so I'm hoping to start around 150K with an upward pay of 250K when I get my practice going. My mentor told me to do child either way since you're not limited in your scope of practice and you can see anyone without restrictions. Maybe I'll do child/neuro/forensics kidding, kidding.

I've known people who did child, addiction, and forensics---but I think they were just prolonging their adolescence...

Believe me, the offers will start flying at you in your third year. Also keep reading the back pages of Psychiatric News, although keep in mind that the best positions might not be advertised.

 

[Quijotemd]

A good friend of mine just began a job out of residency making 205k in northerrn california. It's a small group practice but he works 40 hours per week and takes 1 call per month. 205 sounds good but the real estate there is a killer. Still, it's hard to beat the hours, environment, and seemingly good pay.

 

[Poety]

I've known people who did child, addiction, and forensics---but I think they were just prolonging their adolescence...

Believe me, the offers will start flying at you in your third year. Also keep reading the back pages of Psychiatric News, although keep in mind that the best positions might not be advertised.

What exactly are the offers? How do they know if I'm a good candidate for them to just try recruiting me? I ask because I had lots of senior resident friends and they were telling me about all the recruitment letters, is that just for some residents or do all psych residents get em?

 

[OldPsychDoc]

What exactly are the offers? How do they know if I'm a good candidate for them to just try recruiting me? I ask because I had lots of senior resident friends and they were telling me about all the recruitment letters, is that just for some residents or do all psych residents get em?

All the residents get them. Believe me, you will have your choice of offers. They will need to convince YOU that YOU want to work for them, not the other way around.

Now CHILL, dang it--you just frickin' matched. You can wait to start stressing over your job search until after you've stressed over your first call night, first PRITE, passing Step III, having your next 3 kids during residency 😱 , and getting that child fellowship.

 

[Poety]

All the residents get them. Believe me, you will have your choice of offers. They will need to convince YOU that YOU want to work for them, not the other way around.

Now CHILL, dang it--you just frickin' matched. You can wait to start stressing over your job search until after you've stressed over your first call night, first PRITE, passing Step III, having your next 3 kids during residency 😱 , and getting that child fellowship.

First of all, I am DONE with bambino/as - one is enough, I don't need eight AND, I'm not worried about residency anymore, I've destressed to the point that I've forgotten all medical knowledge so to hell with it, I'll be a gardener for the rest of my life And LASTLY, pass exams? me? NO WAY!

 

[drbon]

A good friend of mine just began a job out of residency making 205k in northerrn california. It's a small group practice but he works 40 hours per week and takes 1 call per month. 205 sounds good but the real estate there is a killer. Still, it's hard to beat the hours, environment, and seemingly good pay.

I want to do child psych in northern cali eventually....do you know if 205k is normal/average? and where exactly in northern cali was it (you don't have to be specific, i just want to know if it's in a city like san francisco or in a more rural area...my goal is mendocino county, which i guess could be considered the sticks )

 

[Quijotemd]

I want to do child psych in northern cali eventually....do you know if 205k is normal/average? and where exactly in northern cali was it (you don't have to be specific, i just want to know if it's in a city like san francisco or in a more rural area...my goal is mendocino county, which i guess could be considered the sticks )

It is a small city in Sonoma County. And my friend does general adult psych, no child. I think the salary is typical for the area, at least for starting out.

 

[Anasazi23]

Just got home from a drug dinner tonight with a graduating senior friend of mine.

He took two part time contract private practice groups jobs...each about 1/2 time, no call, in NYC.

$300,000

 

[i61164]

Just got home from a drug dinner tonight with a graduating senior friend of mine.

He took two part time contract private practice groups jobs...each about 1/2 time, no call, in NYC.

$300,000

Does about 1/2 time = 20 hours/week?

 

[prominence]

good post

 

[psych2b]

I'm not sure what the starting salary is for an assistant professor of psychiatry. Anyone?

At large public university in the SE, I've spoken to 2 new assistant prof's of psychiatry, and both are making "less than $100K" - but that's as much as I know...

 

[Anasazi23]

wow, he made out like a bandit. are the jobs paying him to do medication checks, psychotherapy only, or both?

i am assuming he only did an adult psych residency without fellowship, correct?

also, was he a chief resident?

congratualtions to this lucky resident.

Yes, 1/2 time is about 20 hours/week. He doesn't like therapy, and is a great 'psychopharmacologist.' So he'll be doing primarily that.

He did not do a fellowship. He's very entreprennurial (sp?) and was always saying how fellowships are a waste of money...that there's plenty of money in general adult psych, and that the 50k you make in fellowship and time 'wasted' doesn't offset the exponential private practice growth or lost income.

He was not a chief resident either.

 

[Anasazi23]

At large public university in the SE, I've spoken to 2 new assistant prof's of psychiatry, and both are making "less than $100K" - but that's as much as I know...

Who the hell would take a job for <100k? Maybe it's a faculty practice position where they can anticipate another 60k or so? I've only heard of pediatricians and FP's starting that low. Even still, I worked way too hard to make that little money.

 

[OldPsychDoc]

Who the hell would take a job for <100k? Maybe it's a faculty practice position where they can anticipate another 60k or so? I've only heard of pediatricians and FP's starting that low. Even still, I worked way too hard to make that little money.

Actually, that's pretty typical for starting at the low end of the academic food chain. I guess the added prestige of being an "academic" (and the privilege of having to grub for grants and write papers...) makes up for the low salary.

 

[PublicHealth]

Actually, that's pretty typical for starting at the low end of the academic food chain. I guess the added prestige of being an "academic" (and the privilege of having to grub for grants and write papers...) makes up for the low salary.

Second that for east coast academic jobs. I've heard 90K is common for assistant professors.

 

[Anasazi23]

Actually, that's pretty typical for starting at the low end of the academic food chain. I guess the added prestige of being an "academic" (and the privilege of having to grub for grants and write papers...) makes up for the low salary.

Thank God there are people out there willing to sacrifice themselves for this. I'll think about how prestigious they are while I'm on my boat.

 

[Poety]

Thank God there are people out there willing to sacrifice themselves for this. I'll think about how prestigious they are while I'm on my boat.

👍

Yeah I'd have to snob that offer

 

[Doc Samson]

Thank God there are people out there willing to sacrifice themselves for this. I'll think about how prestigious they are while I'm on my boat.

Now Sazi, some people (me for instance) might elect to stay in academia because they love teaching. It's tough to be a training director (career goal) without being in an academic setting. Plus, I can still hang out on the boats of my friends going into private practice.

 

[OldPsychDoc]

Now Sazi, some people (me for instance) might elect to stay in academia because they love teaching. It's tough to be a training director (career goal) without being in an academic setting. Plus, I can still hang out on the boats of my friends going into private practice.

Three words: community hospital program.
🙂
Plenty of teaching and training opportunities, no pesky grants and papers.

16 months in practice, and my IRA balance now exceeds my accumulated credit card debt! And the numbers continue to move in the right directions!

 

[prominence]

good post

 

[Anasazi23]

Now Sazi, some people (me for instance) might elect to stay in academia because they love teaching. It's tough to be a training director (career goal) without being in an academic setting. Plus, I can still hang out on the boats of my friends going into private practice.

I'll let you hang out on my boat whenever you want, Samson. I'll bring the pilsners. Everyone else is invited too. The colorful neonate must wear a life-jacket, however.

But would you/have you take👎 a job for 90k? That sounds crazy to me.

Of course you're right DS. I was only letting my subconscious distaste for what I perceive to be authority figures bubble to the surface. I think it's left over from my high-school/grad school days.

It all started when I was expelled from 8th grade...
😴

 

[i61164]

Thank God there are people out there willing to sacrifice themselves for this. I'll think about how prestigious they are while I'm on my boat.

Sazi, Sazi, Sazi...You don't even know...You're glib. You don't even know what a boat is. You are not qualified to talk about boats until you have read the research papers about them. A lot of people listen to you so you need to be responsible by doing your research so that you can make an informed opinion. In an ideal world, there would be no boats.

 

[Anasazi23]

Sazi, Sazi, Sazi...You don't even know...You're glib. You don't even know what a boat is. You are not qualified to talk about boats until you have read the research papers about them. A lot of people listen to you so you need to be responsible by doing your research so that you can make an informed opinion. In an ideal world, there would be no boats.

Thanks for the flashback.
😡

Now I need EMDR.
Thanks alot.

 

[i61164]

Thanks for the flashback.
😡

Now I need EMDR.
Thanks alot.

I don't want to invalidate your feelings or anything, but that interview is going down in history as one of the funniest TV moments of all time. My brain releases endorphins just thinking about it.

 

[Solideliquid]

I don't want to invalidate your feelings or anything, but that interview is going down in history as one of the funniest TV moments of all time. My brain releases endorphins just thinking about it.

You don't know the history of endorphins, I DO! Endorphins are certain DEATH for our nation's young! You're GLIB! GLIB GLIB GLIB!

 

[Poety]

You don't know the history of endorphins, I DO! Endorphins are certain DEATH for our nation's young! You're GLIB! GLIB GLIB GLIB!

Speaking of Tom Cruise, what IS really wrong with him? Because that boy isn't right. He says he never sleeps, hates psych because of his "childhood experiences with it" and excessively pursues adrenaline sports -so... what IS it thats wrong with hiim?

 

[Hurricane]

Speaking of Tom Cruise, what IS really wrong with him? Because that boy isn't right. He says he never sleeps, hates psych because of his "childhood experiences with it" and excessively pursues adrenaline sports -so... what IS it thats wrong with hiim?

His mind is infested by Thetans.

I hope he and his fake baby are doing well.

 

[Poety]

His mind is infested by Thetans.

I hope he and his fake baby are doing well.

LOL@FAKE BABY!!!!!

 

[i61164]

Speaking of Tom Cruise, what IS really wrong with him? Because that boy isn't right. He says he never sleeps, hates psych because of his "childhood experiences with it" and excessively pursues adrenaline sports -so... what IS it thats wrong with hiim?

Bipolar? He was looking pretty manic on Oprah. He also shows signs of delusions and disorganized thoughts (nonsequitors) during that Matt Lauer interview so maybe he has schizophrenia (Tom: Is that you L. Ron?). On the other hand, maybe he's just an idiot.

 

[Doc Samson]

Three words: community hospital program.
🙂
Plenty of teaching and training opportunities, no pesky grants and papers.

16 months in practice, and my IRA balance now exceeds my accumulated credit card debt! And the numbers continue to move in the right directions!

Grants are definitely NOT in my future. Plenty of large tertiary care (I'm doing CL after all) academic settings with clinician-educator tracks.

 

[Solideliquid]

Bipolar? He was looking pretty manic on Oprah. He also shows signs of delusions and disorganized thoughts (nonsequitors) during that Matt Lauer interview so maybe he has schizophrenia (Tom: Is that you L. Ron?). On the other hand, maybe he's just an idiot.

Everyone KNOWS Tom is a life-long servant of Xenu, as we all are.

 

[OldPsychDoc]

Bipolar? He was looking pretty manic on Oprah. He also shows signs of delusions and disorganized thoughts (nonsequitors) during that Matt Lauer interview so maybe he has schizophrenia (Tom: Is that you L. Ron?). On the other hand, maybe he's just an idiot.

I vote for the more parsimonious explanation--i.e. the latter.

 

[drbon]

Bipolar? He was looking pretty manic on Oprah. He also shows signs of delusions and disorganized thoughts (nonsequitors) during that Matt Lauer interview so maybe he has schizophrenia (Tom: Is that you L. Ron?). On the other hand, maybe he's just an idiot.

definately an idiot

 

[airbus]

A couple of quick questions:

1) When everyone talks about a starting salary, is that net or adjusted gross salary?
2) I assume that is pre-tax - correct?
3) Does it take into account the cost of malpractice insurance?
4) Are there any other overhead costs that I am not thinking of?
5) A side question - What is the average cost of malpractice insurance for psychiatrists?

Thanks.

 

[OldPsychDoc]

A couple of quick questions:

1) When everyone talks about a starting salary, is that net or adjusted gross salary?
2) I assume that is pre-tax - correct?
3) Does it take into account the cost of malpractice insurance?
4) Are there any other overhead costs that I am not thinking of?
5) A side question - What is the average cost of malpractice insurance for psychiatrists?

Thanks.

Oh that's right--this was a discussion of salaries--not Tom Cruise's mental status! 😛 🙄

The numbers we are throwing about here are gross salary, i.e. pre-tax.
My net is about 60% of my gross, after taxes and other deductions (e.g. maximum 401k contribution). I am in a salaried position, so my malpractice insurance is covered (and I am blissfully unaware of its actual cost to the organization). I also have a nice package of benefits. If you were thinking of practicing on your own, you'd have to be paying your own life, health, disability, and liability insurance out of your gross.